The Australian property market is one of the most expensive in the world relative to income. The median house price in Sydney exceeds $1.4 million. But federal and state governments have created significant assistance for first-time buyers that changes the calculus.
The 2026 numbers
Federal government schemes for first home buyers
| Scheme | Benefit | Income cap (single/couple) |
|---|---|---|
| First Home Guarantee (FHBG) | Buy with 5% deposit, no LMI | $125k / $200k |
| Regional First Home Buyer Guarantee | 5% deposit in regional areas, no LMI | $125k / $200k |
| Help to Buy (shared equity) | Government buys up to 40% of new home | $90k / $120k |
| First Home Super Saver (FHSS) | Save deposit inside super, taxed at 15% | Up to $50k withdrawable |
State stamp duty concessions
Each state has different first-home buyer stamp duty concessions. In NSW, first home buyers pay no stamp duty on properties up to $800,000 and a reduced rate up to $1,000,000. Victoria, Queensland and WA have similar concession thresholds (varying by state).
The First Home Super Saver Scheme (FHSS) — the underused tool
You can make voluntary concessional contributions into super (taxed at 15% instead of your marginal rate) and later withdraw up to $50,000 for a first home deposit. On a $80,000 income (32.5% marginal rate), this saves 17.5 cents per dollar in tax — making your deposit savings significantly more efficient.
🏠 FHSS Tax Saving Calculator
Measure your level now
Apply what you just read and discover your real score in under 2 minutes.
About the author
Enrique 'Kike' Faúndez is an Information Systems and Management Control Engineer from Universidad de Chile, with master’s degrees in Finance from Universidad de Chile and Industrial Engineering from Pontificia Universidad Católica de Chile. He has 15+ years of experience in regulated financial services across finance, operations, and digital product development. He founded CashControlly in Santiago, Chile, with the conviction that personal financial control should not be a privilege, but an accessible and well-designed tool.
- Master's in Finance, Universidad de Chile
- Master's in Industrial Engineering, Pontificia Universidad Católica de Chile
- Information Systems and Management Control Engineer, Universidad de Chile
- AI and ITIL certifications
- 15+ years in regulated financial services
Want to actually apply this?
CashControlly helps you turn this into daily habits. No bank connection required.
Start 7-day free trial