The Northern Territory Government provides a stamp duty First Home Owner Concession (FHOC) to persons purchasing their first home in Australia, or land on which to build their first home.
From 4 May 2010, FHOC is an amount up to $26 730 off the duty payable which represents the duty on the first $540 000 of the dutiable value of the property. For details of the thresholds prior to this date, click here.
The FHOC is not means tested but the purchase price (including any GST payable) or unencumbered value of the home or land must not exceed $750 000 and $385 000 respectively. If building a home, there is no limit on the construction costs.
Where these thresholds are exceeded, the FHOC does not apply but purchasers may be eligible for the Principal Place of Residence Rebate.
Persons eligible for the FHOC may also be eligible for the First Home Owner Grant.
The Territory Revenue Office administers the scheme.
| - | Test your eligibility | |
| - | First Home Owner Concession Guide and Application Form | |
| - | Stamp duty calculator to estimate the duty payable |