1300 000 919 admin@zandawealth.com.au
1300 000 919 admin@zandawealth.com.au

Home Buyer Concession Scheme (HBCS) in the ACT

Buying your first home in the ACT can feel overwhelming, but the Home Buyer Concession Scheme (HBCS) is designed to make it more affordable.

The HBCS is the ACT’s primary form of support for first home buyers and other eligible buyers entering the market, offering a concession on stamp duty (also known as conveyance duty) that can reduce one of the highest upfront costs of buying a property.

At Zanda Wealth Mortgage Brokers, we help ACT buyers understand whether they qualify and guide them through the process from start to finish.

Book a Free Call

What Is the Home Buyer Concession Scheme?

The Home Buyer Concession Scheme is an ACT Government initiative that reduces or removes stamp duty for eligible buyers purchasing a home or residential land in the territory.

It replaced the ACT’s former First Home Owner Grant in 2019, shifting support away from a cash grant towards direct stamp duty relief. The change was made to redirect support into more substantial relief on stamp duty, which is one of the biggest upfront expenses when buying property.

Unlike grant schemes in some other states, the HBCS is income-tested, which means it is targeted at eligible buyers whose household income falls under the relevant threshold. It also applies broadly across new homes, established homes, and vacant land, giving eligible buyers flexibility in the type of property they choose.

If you are weighing up your options, our guide to first home buyer loans explains how the finance side fits alongside schemes like the HBCS. Because the exact concession, income thresholds, and property value limits are set by the ACT Government and reviewed periodically, we always confirm the current figures with the ACT Revenue Office as part of your application.

Who Is Eligible for the Home Buyer Concession Scheme in the ACT?

Eligibility for the HBCS depends on the criteria set by the ACT Government. While the specific thresholds are reviewed and updated over time, the core requirements generally include the following:

Income Test

The combined income of all buyers and their domestic partners must fall under the current income threshold set by the ACT Revenue Office. This threshold is adjusted based on the number of dependent children. Your domestic partner’s income is counted even if they will not be an owner of the property.

Property Ownership History

Buyers (and their domestic partners) generally must not have owned or held an interest in any property, anywhere in Australia or overseas, within a set period before the transaction date. Specific exemptions may apply in certain circumstances, such as for buyers affected by family violence.

Residency Requirement

At least one buyer must live in the property as their principal place of residence for a continuous period, starting within a set timeframe after settlement or completion of construction. The HBCS cannot be used for investment properties.

Age and Property Type

All buyers must be at least 18 years of age. The concession can apply to new homes, established homes, and vacant land intended for building, provided the property value falls within the current threshold set by the ACT Government.
Note for readers: Because income limits, property value caps, and the concession amount are reviewed regularly, the best way to confirm your eligibility is to speak with a mortgage broker or check directly with the ACT Revenue Office. Zanda Wealth Mortgage Brokers can help you assess your situation against the current criteria.

How the Home Buyer Concession Scheme Reduces Stamp Duty in the ACT

Stamp duty (conveyance duty) is one of the highest upfront costs when buying a home. For eligible buyers, the HBCS can reduce this cost significantly, in many cases removing it entirely for properties within the current value threshold.

This can free up thousands of dollars that buyers can put towards their deposit, moving costs, or settling into their new home.

Full or Partial Concession

Eligible buyers may receive a full exemption from stamp duty, or a concessional rate, depending on the property value and the criteria in place at the time of the transaction. The exact concession is determined by the ACT Revenue Office.

Applies to Various Property Types

The concession applies to new homes, established homes, and vacant land for building. This gives ACT buyers more flexibility compared to schemes that only support new builds.

Real Upfront Savings

By reducing or removing stamp duty, the HBCS lowers the cash you need at settlement. For many first home buyers in the ACT, this is the difference that makes a purchase achievable sooner.

How to Apply for the Home Buyer Concession Scheme

The HBCS is applied through the ACT Revenue Office, usually coordinated around the time of your property settlement. The process is generally self-assessed, which means you are responsible for confirming that you meet the eligibility criteria before claiming the concession. Working with a mortgage broker and conveyancer helps ensure this is done correctly.

Step 1

Check Your Eligibility

Before you start, confirm that you meet the current income, ownership, residency, and property requirements. Zanda Wealth Mortgage Brokers can help you assess your situation against the latest criteria.

Step 2

Get Your Finance in Order

Speak with a mortgage broker to understand your borrowing capacity and arrange pre-approval. If you are new to the process, it helps to understand how home loans work in Australia before you start. Knowing your budget helps you shop with confidence and act quickly when you find the right property.

Step 3

Sign and Exchange Contracts

Your eligibility is assessed based on your transaction date, which is generally the date you sign and exchange contracts. The relevant income assessment usually relates to the financial year before this date.

Step 4

Lodge the Concession Claim

Your conveyancer or solicitor lodges the Buyer Verification Declaration with the ACT Revenue Office, applying the correct concession code. You will need to keep your supporting evidence (such as proof of income and residency) in case it is requested.

Step 5

Meet the Residency Requirement

After settlement, at least one buyer must live in the property as their principal place of residence for the required continuous period to retain the concession.

Combining the HBCS with Federal First Home Buyer Schemes

One of the biggest advantages of the HBCS is that it can be used alongside federal government programs, stacking multiple benefits to reduce your upfront costs even further.

First Home Guarantee (FHBG)

This federal scheme, administered by Housing Australia, lets eligible first home buyers purchase with a lower deposit. It can also help eligible buyers avoid Lenders Mortgage Insurance (LMI). Combined with the HBCS, you could enter the market with both a smaller deposit and reduced stamp duty.

First Home Super Saver Scheme (FHSS)

This federal scheme lets eligible buyers save for a deposit through voluntary superannuation contributions, accessing concessional tax treatment. The savings can later be withdrawn to help fund your first home deposit. The scheme is administered by the Australian Taxation Office.

By combining the HBCS with these federal schemes, eligible ACT buyers can significantly reduce the total cost of getting into their first home. A mortgage broker can help you understand which combination works best for your circumstances.

Why Choose Zanda Wealth Mortgage Brokers for Your ACT Home Loan

Access to Over 100 Lenders

We compare home loans across more than 100 banks, credit unions, and non-bank lenders, helping you find competitive interest rates and loan features that suit your situation.

Realistic and Honest Guidance

We believe in straightforward, no-nonsense advice. We give you accurate information and clear options so you can make confident, informed decisions about your home loan and the concessions you may be eligible for.

End-to-End Support

From your first call through to settlement, we guide you through borrowing capacity, pre-approval, lender negotiations, and coordinating with your conveyancer on the HBCS claim. We stay with you every step of the way.

Experience You Can Rely On

With roots stretching back to 2006, Zanda Wealth Mortgage Brokers brings years of lending and property finance experience to ACT buyers, including a strong understanding of ACT government schemes and lender policy.

How Zanda Wealth Mortgage Brokers Helps You Access the Home Buyer Concession Scheme

At Zanda Wealth Mortgage Brokers, we specialise in helping first home buyers navigate the HBCS and the wider home buying process. Led by Austin Rulfs, our team understands that the scheme can be complex, especially when it comes to income testing and combining it with federal programs, so we make it simple.

  • Personalised consultation: We take time to understand your financial situation and home-buying goals, then tailor our advice to your circumstances.
  • Eligibility assessment: We help you check your situation against the current HBCS criteria and identify any federal schemes you may also qualify for.
  • Navigating paperwork: We help you understand and gather the documentation needed for your application, working alongside your conveyancer.
  • Liaising on your behalf: We act as an intermediary between you, your lender, and your conveyancer, handling communications and follow-ups to reduce the stress on you.

Buying your first home is also a major step in your longer-term future planning, and we help you approach it with that bigger picture in mind.

Locations We Serve

Sydney

Brisbane

Gold Coast

Melbourne

Adelaide

Perth

Canberra

Darwin

Hobart

Launceston

Start Your ACT First Home Buyer Journey with Zanda Wealth Mortgage Brokers

Ready to find out if you qualify for the Home Buyer Concession Scheme? Zanda Wealth Mortgage Brokers can help you check your eligibility, get your finances in order, and combine the HBCS with federal schemes to reduce your upfront costs. By leveraging our network of over 100 lenders and our experience with ACT government schemes, we make your journey to homeownership in the ACT as smooth as possible.

Book a free, no-obligation strategy session today and take the first step towards owning your first home in the ACT.

Book a Free Call

Frequently Asked Questions About Home Buyer Concession Scheme

Does the ACT still have a First Home Owner Grant?

No. The ACT abolished its First Home Owner Grant in 2019 and replaced it with the Home Buyer Concession Scheme, which provides stamp duty relief instead of a cash grant.

Can I use the HBCS for an investment property?

No. The HBCS requires at least one buyer to live in the property as their principal place of residence. It cannot be used for investment purchases.

Does the HBCS apply to established homes or only new builds?

The HBCS applies to new homes, established homes, and vacant land for building, provided you meet the eligibility criteria and the property value falls within the current threshold.

Can I combine the HBCS with federal schemes?

Yes. The HBCS can generally be used alongside the First Home Guarantee and the First Home Super Saver Scheme, which can further reduce your upfront costs.

How do I find out the current income and property thresholds?

The income limits, property value caps, and concession amounts are set by the ACT Government and reviewed regularly. The most reliable way to confirm current figures is to check with the ACT Revenue Office or speak with a Zanda Wealth mortgage broker.
Share This