If buying a new to be built house and land package is the stamp duty calculated on the total price of both house and land or only on the land?
Depends on the contract, if you have separate contracts for the land and construction, then you pay SD on the land only (most commonly). Less common is that the land owner is also the builder/developer.
So would first home owners pay $0 in stamp duty if there land (bought separately) was 350k and there house was built 400k
If those are below the limit levels in your state then generally yes. That is why a lot of FHOG choose to build.
Correct. Stamp duty is calculated on the contract price ($350k in this instance) so assuming you qualify for the exemption, you wouldn't be liable for any duty
First home buyers exemptions for stamp duty on new builds can be complicated. Ultimately you probably wouldn't pay any stamp duty but there's a few things to consider: * Stamp duty is often payable on the land at the land settlement, but refunded after the build is completed. You may still need to font the money. This can vary depending on the state, how the purchase is structured and the lender's policy. * The first home owners grant gets paid when you begin the build, not when you purchase the land.
