The First Home Vacant Land Concession QLD saves you up to $10,675 on Transfer Duty.

The First Home Vacant Land Concession QLD is a financial assistance program designed to help first time buyers who are buying vacant land for under $500,000, save up to $10,675 on Transfer Duty.

Transfer Duty (also known as Stamp Duty) is a Queensland State Government tax, that is paid when you settle on (take ownership) of a block of land in QLD.

Since Transfer Duty usually comes from your deposit, this Concession makes a significant difference in supporting first time buyers to get into the market sooner.

Normally first time buyers of land are planning to build their first home on the block.

Who is eligible for the First Home Vacant Land Concession QLD?

The main eligibility criteria for the First Home Vacant Land Concession QLD are:

*Purchase price of less than $350,000 to get the full concession, or, between $350,000 to up to $500,000 for a partial concession.

*Buying vacant land in Queensland.

*A first-time buyer in Australia, never having had any ownership or property or land.  If you’re buying with a partner who has owned property before, you may be eligible to a 50% concession if you’re buying the property with 50/50 ownership each.

*Australian citizen or permanent resident (the foreign acquire duty of 8% may apply if you’re neither of these).

*Be at least 18 years old at the date of purchase which is a requirement for getting a home loan (unless you don’t need a home loan).

*Build your first home on the land, move in with your personal belongings and live there on a daily basis within 2 years of settlement (this time cannot be extended)

*You can only build one home on the land.

If you want to clarify any tricky questions around transfer duty, you can call the Queensland Revenue Office directly on 1300 300 734. I have found them to be very helpful.

First Home Vacant Land Concession QLD Rates

In June 2024, the QLD Government made a slight adjustment to the threshold for the maximum land expenditure, increasing it from $400,000 to $500,000 for eligibility. As a result, this guide has been updated for 2025 to reflect all the latest concession rates.

The maximum Concession you are entitled to receive if you’re buying under the First Home Vacant Land Concession QLD program is $10.675.

The exact amount of transfer (stamp) duty to pay depends on the purchase price of the land where if you spend:

• Under $350,000 – pay no transfer duty;
• Between $350,000 to under $500,000 – pay a reduced amount of stamp duty;
• Over $500,000 – pay the full amount of transfer duty as there is no concession.

 

 

The table above shows an example, when you purchase a vacant block of land for $350,000 or less, you pay no transfer duty (you get the full concession) saving you up to $10,350.

If you purchased land for $400,000, you would pay partial transfer duty of $5,300 however keep in mind that normally you would pay $12,425 but under the First Home Vacant Land Concession program you are saving $7,125.

When you spend $500,000 or more on land, you pay the full transfer duty of $15,925 as there is no concession available.

 

When do I pay Transfer Duty on a block of vacant land in QLD?

Transfer Duty is a considerable additional cost of buying a black of vacant land which needs to be paid upfront in cash when you settle on the land (take ownership).

The savings you gain under the First Home Vacant Land Concession QLD can be substantial.

If you are building a home on a block of vacant land, you only need to take into account the Transfer Duty associated with the land purchase.

There is no Transfer Duty applicable to the actual construction of your house or any additional features, such as driveways, fencing, landscaping, or solar panels.

How Much Deposit Do I Need Saved When Buying Land In QLD?

Before purchasing a block of land, it’s essential to determine how much money you need to save upfront to cover:

• The cost of transfer duty (unless you qualify for a full exemption, which means you pay $0);
• Various bank and government fees;
• A deposit to buy the land, usually a minimum of 5%.

As Brisbane Mortgage Brokers and Gold Coast Mortgage Brokers, we’re here to assist you with understanding what you need to save, and how this relates to your home loan or construction loan.

What Other Government Financial Assistance Programs Are Available?

It’s important to remember that many first-time buyers qualify for more than just the First Home Vacant Land Concession QLD.

In fact, there are seven different Government Financial Assistance programs for first-time buyers in QLD, including the First Home Owners Grant QLD, the First Home Concession and the First Home Guarantee.

There really is a wealth of information regarding these programs online and on social media, but in reality, understanding how your specific circumstances fit into all the eligibility criteria is complex.

For a quick view of what programs you’re eligible for, take this one-minute quiz, and I’ll email you a summary.

Alternatively, many of our past clients have found that the easiest way to comprehend the programs available to them—and how they relate to their home loan—is by scheduling a free 20-minute call with me.

During the call, I clarify for you:

• All first-time buyer Financial Assistance Programs you may qualify for
• The amount of deposit you need saved to buy a block of land and build a home
• Your potential land and home building budget
• Simple strategies to enhance your borrowing capacity.
• Steps to build a home

This 20 min call is the fastest way to clarify your options and outline the steps you should take next.

If you’re interested, feel free to schedule a no obligation free 20-minute call with me.

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