First Home Buyers Assistance Scheme: Application Form and Lodgement Guide - Exemption or Concession from Duty (ODA 066A)

The First Home Buyers Assistance Scheme gives eligible first home buyers a full exemption from transfer duty, or a concessional rate, below set property value thresholds. The scheme is in Division 1 of Part 8 of Chapter 2 of the Duties Act 1997 (ss 69 to 80A). ODA 066A applies to agreements or transfers executed from 1 July 2017 to 30 June 2023, and the thresholds depend on the exchange date. Revenue NSW states that from 1 July 2017 to 31 July 2020, and again from 1 August 2021 to 30 June 2023, homes were exempt up to $650,000 with a concession below $800,000, and vacant land was exempt up to $350,000 with a concession below $450,000. From 1 August 2020 to 31 July 2021 separate thresholds applied to new homes, homes that were not new and vacant land (ss 74(4), 78AA). The form states that for this period at least one eligible purchaser must live in the home for 6 continuous months starting within 12 months of completion.

When you need it

• You exchanged or took a transfer between 1 July 2017 and 30 June 2023 and are claiming the first home buyer exemption or concession.
• Neither you nor your spouse has ever owned residential property in Australia (other than solely as trustee or executor) or had this scheme's benefit before.
• You are a natural person aged 18 or over, at least one buyer is an Australian citizen or permanent resident, and eligible buyers together take at least 50% of the whole property.
• A new purchaser is added or substituted before settlement: they and their spouse need a new form.

1. 1

   Section 1: eligibility checklist

   Answer the five yes or no questions about prior ownership, prior benefit, residence, citizenship or residency, and age, considering every applicant and their spouse at the agreement date.

2. 2

   Sections 2 and 3: lodging and property details

   Give the lodging party, whether it is an agreement or a transfer without an agreement, its date, the dutiable value, the vendor, your occupation date, whether it is an existing home, new home or vacant land, and the lot, plan and street address.

3. 3

   Section 4: purchaser interests

   List each eligible purchaser and any equity partner with their interest to two decimal places, totalling 100%. A spouse who is buying must be listed as an eligible purchaser.

4. 4

   Sections 5 and 6: personal details

   Each eligible purchaser gives full name, birth name, other names used, date and place of birth, contact and address details and any permanent ADF service. A spouse who is not buying completes Section 6.

5. 5

   Sections 7, 8 and 10: declarations and evidence

   Each eligible purchaser and each non-purchasing spouse signs their declaration. Use the Section 10 checklist to attach proof of identity for each person (categories 1 to 3, plus 4 if no address is shown), and evidence of any change of name.

• Lodge through your solicitor or conveyancer with the agreement for sale or transfer. Remove the lodgement guide (pages 1 to 3) before lodging and keep it.
• Certified copies of the proof of identity documents must be provided at lodgement; certifiers are listed in the guide.
• Revenue NSW's Duties Document Matrix (GD 005) sends some first home buyer applications, such as those involving a trust or a surcharge liability, through eDuties with ODA 066A or 066B.
• Each purchaser also gives a purchaser/transferee declaration (ODA 076I).

• This form cannot be used to opt into property tax under the former First Home Buyer Choice scheme.
• If equity partners take more than 5% (and not more than 50%), the concession is reduced in proportion to their share (ss 71(7), 78B).
• If you cannot meet the residence requirement, tell Revenue NSW straight away to avoid interest and penalties. Requests to shorten or waive it in exceptional circumstances go to firsthome.benefitscompliance@revenue.nsw.gov.au.