Differences between first home concessions and first home owner grant
See a comparison of the different requirements for the transfer (stamp) duty concessions for first homes and the first home owner grant.
If you’re a first home owner in Queensland, you may be able to claim one of the first home concessions for transfer (stamp) duty and the first home owner grant.
However, whereas some of the requirements for each benefit are the same, there are differences that you should know about so you can fulfil your obligations and avoid having to pay an amount back, including interest and penalties.
The table below explains the differences between each first home benefit and the requirements that you need to meet.
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First home concession
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First home vacant land concession
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First home owner grant
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| When you must occupy the property as your principal place of residence | ||
| Within 1 year after the transfer date | Within 2 years after the transfer date | Within either:
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| How long you must live in the property | ||
| You can’t dispose of any of the property for 1 year | You can’t dispose of any of the property for 1 year | You must live in the property for a continuous period of 6 months |
| When you need to apply | ||
| You have 5 years to apply for a refund if you haven’t claimed a concession at the time of purchase | You have 5 years to apply for a refund if you haven’t claimed a concession at the time of purchase | You have 1 year from completion of the transaction |
| Renting the property out before moving in | ||
| You can’t rent the property out before moving in
Exception: The vendor or vendor’s existing tenant may remain in possession for up to 6 months after the transfer date |
You can’t rent the property out before moving in | You can rent the property out before moving in |
| Renting a room or granny flat | ||
| You can’t rent out any room or granny flat for the first year after you move in | You can’t rent out any room or granny flat for the first year after you move in | You may rent out one or more rooms in the house or a granny flat during your 6-month residency period, as long as this arrangement doesn’t affect your use of the home |
| Losing the concession or grant | ||
You lose your concession if you either:
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You lose your concession if you either:
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You may have to repay the grant if you:
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| Exceptions to these requirements | ||
| You might not lose the concession if you can’t occupy the home because of an intervening event. You must apply in writing to the Commissioner of State Revenue | You might not lose the concession if you can’t occupy the home because of an intervening event. You must apply in writing to the Commissioner of State Revenue | We may approve the grant in special circumstances if you:
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