Changes to Queensland Transfer Duty in 2025
From 1 May 2025, comprehensive reforms to Queensland's transfer duty (or stamp duty) will be in place, providing much-needed relief to first-home buyers and modernising some of the most critical aspects of the system.
The reforms are part of the Revenue Legislation Amendment Act 2025, and reflect the Queensland Government's commitment to making home ownership more affordable, particularly for first-time entrants into the housing market. We explore what these changes mean and how to move forward as first-home buyers.
Full Transfer Duty Concession for First-Home Buyers
The main change is to provide a full transfer duty concession to first-home buyers who:
Enter into a contract on, or after, 1 May 2025, and
Purchase either:
A new home in which to live, or
Vacant land to construct a home in which to live.
Importantly, there is now no value cap on the property for eligible new home purchases or vacant land for new builds. Overall, this is a significant benefit that will save first-home buyers thousands of dollars. However, to be eligible for this full concession, you must meet specific criteria, including:
Being at least 18 years old.
Never having previously held an interest in residential land in Queensland or elsewhere.
Acquiring the property as an individual (not through a company or trust).
Intending to move into the home as their principal place of residence within one year of settlement (or two years for vacant land where they build) and occupy it for at least a year continuously.
Important Updates to the Transfer Duty System
The changes to transfer duty concession are accompanied by modifications to some Queensland Revenue Office (QRO) systems and materials to facilitate the new law:
1. Simplified Application Process with New Forms
New and updated versions will be published to accommodate the new eligibility criteria. All the parties in conveyancing transactions - agents, solicitors, and buyers - must use the right versions from 1 May 2025 onwards to ensure smooth processing and prevent unnecessary delays.
2. Streamlined QRO Online for Easier Access
QRO Online will be reinvigorated to simplify the implementation of the new concession. The online platform will give clearer direction to first-home buyers and ensure that qualifying transactions receive the correct concessions applied automatically.
3. Clearer Information and Calculators to Estimate Your Savings
The QRO website will provide current data, FAQs, and an amended transfer duty calculator in line with the 2025 amendments. Buyers and experts can estimate concessions more clearly, making it easier to prepare for transactions to come.
4. Public Rulings and Practice Directions
Relevant public rulings and practice directions will be updated to accommodate the new concession and procedural differences. Conveyancers and lawyers need to stay abreast of the latest editions of these documents so they remain in line with duty assessment procedures.
What This Means to First-Home Buyers in Queensland
If you're a Queensland first-home buyer, these stamp duty changes offer a bigger opportunity in many ways. By abolishing transfer duty charges on relevant transactions, the Government effectively reduces one of the significant upfront costs of property ownership. It's also vital to understand that transfer duty concessions are distinct from the First Home Owner Grant (FHOG), a separate cash grant (currently $30,000 for eligible new home purchases until 30 June 2025). Both aim to assist first-home buyers, but they have different benefits you should explore before purchasing.
For clients who are buying this year, timing will be critical. For example, contracts entered into before 1 May 2025 won't be subject to the new full concession, so planning is crucial.
How Bradley & Bray Can Help
Our conveyancing lawyers on the Sunshine Coast have helped thousands of Queenslanders navigate the legal process involved in property purchase. Our experienced property law team is knowledgeable about all new legislative changes and can provide professional advice to:
Determine if you are eligible for the new concession.
Guide you through the new forms and application process.
Make certain your contract complies with the relevant dates and conditions.
If you're a first-home buyer, now is the time to seek professional legal advice. Contact us today to schedule a consultation and ensure you're in the best position to take full benefit of Queensland stamp duty changes.
Disclaimer: This article is general in nature and does not constitute legal advice. If you require legal advice in relation to your personal circumstances, you must formally engage our firm or another firm to provide legal advice in relation to your matter. Bradley & Bray lawyers take no responsibility for any use of the information provided in this article.
