Updated 10 July 2017
First home buyers who meet the eligibility criteria may qualify to receive a one-off First Home Owners Grant of $15,000 for new homes or construction. FHOG applies to the purchase or construction of a new residential property, including a house, flat, unit, townhouse or apartment that meets local planning standards anywhere in South Australia.
A FHOG cap applies to the property, where the value is capped at $575,000 and refers to the market value of the property purchased or built.
The residential property must be occupied as each applicant's principal place of residence for a continuous period of at least six months commencing within 12 months of date of settlement for contracts to purchase, or the date construction is completed for owner builders or contracts to build.
Off-the-plan stamp duty concessions
A partial stamp duty concession will be available for purchases of off-the-plan apartments located anywhere in South Australia if the contract was entered into between 1 July 2014 and 30 June 2018. Foreign purchasers who enter into a contract on or after 22 June 2017 are not eligible for the concession. A Pre-Construction Grant for Off-the-Plan Apartment Purchasers of $10 000 may also be available for contracts entered into between 22 June 2017 and 30 September 2017.
For calculation of this concession, please consider the following. Where the value of the apartment is less than $500,000 the size of the concession is greater than where the value of the home is greater than $500,000. Further, the stage of completion of the residential development has an impact as well. Please review the Off the plan concession zone here.