After the budget: check your first home grant eligibility

Published 22 October 2026 · Reviewed by Luke Curtis, Director & head broker

Budget season brings plenty of headlines about first home buyers. Some announcements change the rules straight away. Others start on a set date, or only once laws are passed. If you're planning to buy, the safest approach is to check the official sources yourself and work out which rules apply to your contract.

This guide covers where to look, what typically changes and why your contract date matters. It doesn't predict what any budget will do.

Where to check

Rely on the official pages over news reports and social media. These are the ones that matter for Mackay and Isaac buyers:

Queensland Revenue Office (qro.qld.gov.au): the First Home Owner Grant and transfer duty concessions, including the first home concession and home concession.
Queensland Treasury (treasury.qld.gov.au): Boost to Buy, the state's shared equity scheme.
First Home Buyers (firsthomebuyers.gov.au): the Australian Government 5% Deposit Scheme, including the property price caps.
Queensland ministerial media statements (statements.qld.gov.au): for announcements, which you then confirm on the program page.

Look for the start date and any transitional rules on each page. Bookmark them and check again close to the day you sign.

What typically changes

Changes to first home help tend to fall into a few categories:

Amounts. Grants can go up, down or end. Queensland's First Home Owner Grant has been both $15,000 and $30,000, depending on the contract date.
Value caps and thresholds. For example, the Queensland first home duty concession threshold changed on 9 June 2024.
Who is eligible. From 1 August 2026, Queensland home and first home duty concessions are generally limited to Australian citizens, permanent residents and specified foreign retirees.
Price caps and places. The 5% Deposit Scheme removed its income caps and limit on places from 1 October 2025. Boost to Buy allocates limited places in rounds.
End dates. Some programs run for a set period. The 2026 to 2027 Queensland Budget, handed down in June 2026, committed the $30,000 grant for four years.

Why your contract date matters

For Queensland grants and concessions, the date you sign the contract is usually what counts. Settlement can be weeks or months later, but the rules in place when you signed generally decide what you get. Some examples from the Queensland Revenue Office:

First Home Owner Grant: $30,000 for contracts signed on or after 20 November 2023, and $15,000 for contracts signed before then. For owner-builders, it's the date the foundations were laid.
Duty on new homes: eligible first home buyers pay no transfer duty on a new home or vacant land to build a home for contracts dated from 1 May 2025, with no value cap.
Home concession eligibility: the citizenship and residency criteria apply to transactions signed on or after 1 August 2026. Transactions signed on or before 31 July 2026 aren't subject to them, regardless of settlement date.

If a change has been announced but hasn't started, the timing of your contract could make a real difference. Your solicitor or conveyancer can advise on contract dates and conditions.

Current Queensland settings to check against

When we last checked the official pages, in October 2026, the settings were:

First Home Owner Grant: $30,000 for eligible first home buyers buying or building a new home valued under $750,000, including land. Not for established homes.
First home duty concession on established homes: no duty on homes valued at $700,000 or less, partial concession under $800,000.
Boost to Buy: minimum 2% deposit, income caps of $155,000 for individuals and $232,000 for couples or single applicants with dependants, $1,000,000 price cap, limited places.
5% Deposit Scheme: $700,000 price cap for Mackay and the Isaac, no income caps.

Treat these as a starting point and confirm them on the official pages before you rely on them.

Don't forget the ongoing rules

Eligibility doesn't stop at settlement. For the Queensland grant, you must move in within one year and live there continuously for six months. For the first home duty concession, you must move in within one year of settlement, and that period can't be extended. FIFO and DIDO workers should check how these rules fit their rosters.

A post-budget checklist

Open each official program page and note any new start dates.
Check whether your intended purchase is new or established, and whether it sits under each cap.
Confirm your citizenship or residency status meets the current criteria.
If you hold a conditional pre-approval, ask your broker to recheck it against any changed rules.
Ask your solicitor or conveyancer about timing your contract if a change is pending.

Our first home buyers page has more on each program. If you work on roster, see our mining and FIFO home loans page too.

Talk it through

If you're not sure whether a budget change affects you, call or text us on 0458 773 002, or book a free assessment at our contact page. We'll check your plans against the current rules. For most home loans there's no broker fee; any fee is disclosed upfront in our Credit Guide.

Common questions

Does the contract date or settlement date decide which grant rules apply?

For Queensland's First Home Owner Grant and duty concessions, the contract date is generally what decides which rules apply. Check the Queensland Revenue Office page for the specific program.

Where do I check if first home grants have changed?

Use the official pages: qro.qld.gov.au for the grant and duty concessions, treasury.qld.gov.au for Boost to Buy, and firsthomebuyers.gov.au for the 5% Deposit Scheme.

Is the Queensland First Home Owner Grant available for established homes?

No. The $30,000 grant is for eligible first home buyers buying or building a new home valued under $750,000, including land.

Do I have to live in the home to keep the grant?

Yes. You must move in within one year and live there continuously for six months.

Sources

This guide is general information only and doesn't take into account your objectives, financial situation or needs. Talk to us about your circumstances before acting on it. Related: First home buyers.

After the budget: how to check you're still eligible for first home grants and schemes

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