🚀All first-time homebuyers who build new homes no longer pay stamp duty.

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In the 2024-25 Budget, the Malinauskas Labour Government will abolish stamp duty for first homebuyers who buy or build a new home and extend the First Home Owner Grant to eligible first homebuyers. The 2024-25 Budget will eliminate property value thresholds for the stamp duty exemption and First Home Owner Grant, costing $30 million over four years, to increase housing supply and home ownership in South Australia.

With the abolition of property value limits, a first homebuyer who purchases a new dwelling broadly in line with the median house price of $750,000 will receive a benefit of over $50,000, including the First Home Owner Grant of $15,000. 

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The stamp duty exemption will be available to all first home buyers who buy a new home (including a house, flat, unit, townhouse or apartment), an off-the-plan apartment, a house and land package or vacant land to build a new home. The initiative builds on the tax relief announced as part of the 2023-24 Budget, which saw the Malinauskas Labor Government abolish stamp duty for first home buyers purchasing a new dwelling up to a property value of $650,000 while also aligning the property value cap for the $15,000 First Home Owner Grant to this limit. First home buyers building a home can also save thousands with a 2 per cent deposit home loan available through HomeStart, a Malinauskas Government election commitment delivered this year.

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