For most first home buyers, stamp duty is the second-biggest hurdle after the deposit — often tens of thousands of dollars due at settlement. This week, one part of Australia decided to remove that hurdle entirely.
What happened
In its budget handed down on 10 June, the ACT government announced that stamp duty will be abolished for all first home buyers from 1 July 2026. Under the current rules, only homes under $1 million are exempt and buyers must sit below income eligibility thresholds. From July, both the price cap and the income test disappear.
That makes the ACT the first jurisdiction in Australia to fully abolish stamp duty for people entering the property market. The exemption will also extend to pensioners, some NDIS recipients, and anyone who hasn’t owned a property for five years — a meaningful detail for people returning to the market after divorce, financial hardship or time overseas.
Treasurer Chris Steel said the change complements the federal government’s reforms by supporting younger generations to own their own home. It sits alongside supply measures: a temporary cut to the lease variation charge for developers, “missing middle” reforms targeting 30,000 new homes by the end of 2030, and a pattern book of pre-approved designs for faster building approvals.
What this means for you
If you’re buying in Canberra, the maths changes from 1 July — money you’d budgeted for stamp duty can go toward your deposit, your offset, or simply a stronger buffer.
For first home buyer hopefuls elsewhere, this is a signal worth watching. Every state runs its own concessions, and most still carry price caps and conditions — which means the suburb and price point you choose can determine whether you pay full duty, a reduced amount, or nothing. Combined with the federal 5% deposit scheme that opened to all first home buyers in January 2026, the support available right now is broader than many buyers realise — subject to eligibility and your circumstances.
Before you start inspecting properties, it’s worth knowing exactly which concessions and schemes apply to you in your state, because they directly affect how much you need to save and how much you can offer. Our team works with first home buyers across NSW, Victoria and South Australia every week — see how we help on our first home buyer services page.
Talk to a Finance Hub broker — call 0430 11 11 88 or visit finhub.net.au.
Source: CommBank Newsroom (AAP), 10 June 2026
Finance Hub and Networks Pty Ltd | ACL 573164 | ACN 644 141 613. Aggregated through Connective Credit Services Pty Ltd, ABN 51 143 651 496, ACL 389328. Credit assistance provided. This page does not constitute financial advice.
