Have you fallen in love with a property, that you just have to have?
When you buy land, which may include buildings, you are liable to pay duty. The duty payable is based on the market value of the property or the purchase price, whichever is greater.
From 1 July 2017 the First Home New Home scheme will be replaced by the First Home Buyers Assistance scheme.
First home buyers will not have to pay duty for both new and existing homes for properties up to $650,000. The duty will be reduced for amounts between $650,000 and $800,000. There is no change to the cap for vacant land.
Click to find out how much stamp duty you will need to pay.