Stamp duty explained: state-by-state guide

Stamp duty explained: state-by-state guide
To buy a property you will need to pay a variety of fees and charges. One of the biggest upfront costs of a home loan is stamp duty. Here are some things you should know about it
Ready to start your home loan journey?
APPLY

What is stamp duty?

To buy a property you will need to pay a variety of fees and charges. One of the biggest upfront costs of a home loan is stamp duty.

Stamp duty is a tax imposed by state governments in Australia on the purchase of assets such as real estate. This includes title transfers in real estate, vehicles, insurance policies and home loans.

Stamp duty can have a significant impact on the overall cost of purchasing a property. That’s why it’s important to take into account how much you need to pay before you buy a new home. Here are some things you should know:

How much is stamp duty?

There are many factors involved in determining the cost of stamp duty for a property. These include:

  • The state you’re buying in 

  • All states have different methods of calculating stamp duty so the amount will differ.

  • The price of the property 

  • In general, the cheaper the property is the less stamp duty you will pay.

  • The type of home you’re buying

  •  Vacant land will have less stamp duty compared to buying an established home.

The general rule is: the pricier the property, the higher the stamp duty. You can use our stamp duty calculator to get a rough idea of how much you need to pay.

When do you pay stamp duty?

Depending on which state or territory the cost of stamp duty must usually be paid within 30 days of signing a contract or 30 days from settlement. 

Stamp Duty: State By State 

As mentioned, stamp duty differs between states, along with the various concessions for first-time buyers and pensioners. 

Let’s use the sale of a $500,000 established home as an example to illustrate how much stamp duty can amount to, and how much you can save if you qualify for a concessional rate:

Disclaimer: Estimates are a guide only and don’t include exemptions. Stamp duty costs will change based on your specific circumstances.

New South Wales Stamp Duty Costs 

Property value Transfer duty rate
$0 to $14,000 $1.25 for every $100 (the minimum is $10)
$14,000 to $32,000 $175 plus $1.50 for every $100 over $14,000
$32,000 to $85,000 $445 plus $1.75 for every $100 over $32,000
$85,000 to $319,000 $1,372 plus $3.50 for every $100 over $85,000
$319,000 to $1,064,000 $9,562 plus $4.50 for every $100 over $319,000
Over $1,064,000 $43,087 plus $5.50 for every $100 over $1,064,000

NSW Standard transfer duty calculations from 1 July 2021  source: https://www.revenue.nsw.gov.au/taxes-duties-levies-royalties/transfer-duty

Example

Purchase type Stamp duty cost Total government fees (est.)
Owner-occupiers $0 $295
Investors $17,835 $18,130
  • NSW waives stamp duty for first homes valued under $800,000 and $400,000 for new land purchases and reduces stamp duty costs for homes and land valued below $1 million and $500,000

  • NSW also reduces stamp duty to $50 for deceased estates and defers off-the-plan apartment stamp duty payments for 12 months

Victoria stamp duty costs

Property value Payable duty
Not more than $25,000 1.4% of the dutiable value of the property
$25,001 - $130, 000 $350 plus 2.4% of the dutiable value in excess of $25,000
$130,001 - $960,000 $2,870 plus 6% of the dutiable value in excess of $130,000
Over $960,000 5.5% of the dutiable value

Victoria land transfer duty: https://www.sro.vic.gov.au/calculators/land-transfer-calculator

Purchase type Stamp duty cost Total government fees (est.)
Owner-occupiers $0 $1,391
Investors $18,803 $20,194
  • Foreign purchasers will be charged an extra 7%, or $35,000, of duty. Fortunately, first-time buyers are entitled to a stamp duty exemption if the home is worth less than $600,000. 

  • Pensioners are also exempted if the property is worth up to $330,000, while they get a part concession for properties valued between $330,010 and $750,000.

  • Victoria waives stamp duty for properties valued below $600,000 and concessions for purchases below $750,000 for first home buyers (FHBs)

  • Until 1 July 2021, Victoria also offers 50% and 25% off new and existing residential properties and vacant land respectively, for homes below $1million

Queensland stamp duty costs 

QLD has a relatively low rate of stamp duty, even with the extra 3% of duty you'd pay if you are a foreign purchaser. 

Dutiable value Duty rate
Not more than $5,000 Nil
More than $5,000 up to $75,000 $1.50 for each $100, or part of $100, over $5,000
$75,000 to $540,000 $1,050 plus $3.50 for each $100, or part of $100, over $75,000
$540,000 to $1,000,000 $17,325 plus $4.50 for each $100, or part of $100, over $540,000
More than $1,000,000 $38,025 plus $5.75 for each $100, or part of $100, over $1,000,000

Source: https://www.qld.gov.au/housing/buying-owning-home/advice-buying-home/transfer-duty/how-much-you-will-pay/calculating-transfer-duty/transfer-duty-rates

Purchase type Stamp duty cost Total government fees (est.)
Owner-occupiers $0 $1,578
Investors $15,925 $17,503
  • Queensland charges first home buyers $0 for stamp duty on properties below $550,000 ($400,000 for vacant land

  • Queenslanders can get a concession on the first $350,000 (non-first home buyers allowed) if they live in the home for the first 12 months after buying

Western Australia stamp duty costs 

This generally applies to commercial property, rural property that is not also used as residential property, and vacant land which doesn't qualify for the residential rate.

Dutiable value General rate of duty
$0 - $80,000 $1.90 per $100 or part thereof
$80,001 - $100,000 $1,520 + $2.85 per $100 or part thereof above $80,000
$100,001 - $250,000 $2,090 + $3.80 per $100 or part thereof above $100,000
$250,001 - $500,000 $7,790 + $4.75 per $100 or part thereof above $250,000
$500,001 + $19,665 + $5.15 per $100 or part thereof above $500,000

Source: https://www.wa.gov.au/organisation/department-of-finance/transfer-duty-assessment

Purchase type Stamp duty cost Total government fees (est.)
Owner-occupiers $13,433 $13,886
Investors $17,765 $18,218
  • FHBs in Western Australia are charged no stamp duty for homes and vacant land valued below $430,000 and $300,000 respectively

  • Concessions are available for houses up to $530,000 and vacant and up to $400,000

  • Off-the-plan purchases in Western Australia can get a 75% rebate on stamp duty (capped at $50,000) for contracts signed until October 2021

  • Western Australian married couples or de facto partners for two years can transfer properties and not pay any stamp duty

South Australia stamp duty costs 

Property value Payable duty
Not more than $12,000 $1.00 for every $100 or part of $100
$12,000 - $30,000 $120 plus $2.00 for every $100 or part of $100 over $12,000
$30,001 - $50,000 $480 plus $3.00 for every $100 or part of $100 over $30,000
$50,001 - $100,000 $1,080 plus $3.50 for every $100 or part of $100 over $50,000
$100,001 - $200,000 $2,830 plus $4.00 for every $100 or part of $100 over $100,000
$100,001 - $200,000 $2,830 plus $4.00 for every $100 or part of $100 over $100,000
$200,001 - $250,000 $6,830 plus $4.25 for every $100 or part of $100 over $200,000
$250,001 - $300,000 $8,955 plus $4.75 for every $100 or part of $100 over $250,000
$300,001 - $500,000 $11,330 plus $5.00 for every $100 or part of $100 over $300,000
Over $500,000 $21,330 plus $5.50 for every $100 or part of $100 over $500,000

Source: https://www.revenuesa.sa.gov.au/stampduty/calculate-stamp-duty

Purchase type Stamp duty cost Total government fees (est.)
Owner-occupiers $21,330 $25,837
Investors $21,330 $25,837
  • First home owners can receive a $15,000 grant for purchasing a newly constructed home up to $575,000 in value. Commencing 1 Jan 2018, foreign purchasers will have to pay a surcharge of 4%, which is equal to $20,000, for the example.

Tasmania stamp duty costs and discounts

Value of the property (including chattels) Duty payable
Not more than $3 000 $50
More than $3,000 but not more than $25,000 $50 plus $1.75 for every $100, or part, by which the dutiable value exceeds $3,000
More than $25,000 but not more than $75,000 $435 plus $2.25 for every $100, or part, by which the dutiable value exceeds $25,000
More than $75,000 but not more than $200,000 $1,560 plus $3.50 for every $100, or part, by which the dutiable value exceeds $75,000
More than $200,000 but not more than $375,000 $5,935 plus $4.00 for every $100, or part, by which the dutiable value exceeds $200,000
$More than $375,000 but not more than $725,000 $12,935 plus $4.25 for every $100, or part, by which the dutiable value exceeds $375,000
More than $725,000 $27,810 plus $4.50 for every $100, or part, by which the dutiable value exceeds $725,000

Source: https://www.sro.tas.gov.au/property-transfer-duties/rates-of-duty

Purchase type Stamp duty cost Total government fees (est.)
Owner-occupiers $18,248 $18,605
Investors $18,248 $18,605
  • Tasmania offers 50% stamp duty discounts on established home purchases below $400,000

  • Pensioners who downsize to a new home below $400,000 in value can also get a 50% discount

  • Property transfers between married couples/significant relationships are exempt in Tasmania

Australian Capital Territory stamp duty costs and discounts

Property value Stamp duty payable
Up to $200,000 $20 or $1.30 per $100 or part thereof, whichever is greater
$200,001 to $300,000 $2,600 plus $2.30 per $100 or part thereof by which the value exceeds $200,000
$300,001 to $500,000 $12,100 plus $4.56 per $100 or part thereof by which the value exceeds $500,000
$500,001 to $750,000 $17,325 plus $4.50 for every $100 or part of $100 over $540,000
$750,001 to $1,000,000 $23,500 plus $6.10 per $100 or part thereof by which the value exceeds $750,000
$1,000,001 to $1,455,000 $38,750 plus $6.60 per $100 or part thereof by which the value exceeds $1,000,000
More than $1,455,000 A flat rate of $4.73 per $100 applied to the total transaction value

Source: https://stampdutycalc.com.au/act/

Purchase type Stamp duty cost Total government fees (est.)
Owner-occupiers $11,400 $11,962
Investors $11,400 $11,962
  • The ACT ‘Home Buyer Concession Scheme’ provides stamp duty discounts for newly constructed homes and vacant land

  • ACT residents don’t pay stamp duty if they haven’t owned a property in the last two years

  • Bigger discounts are available depending on the number of dependent children (see the ACT Revenue Office for details

Northern Territory stamp duty costs and discounts

Property value Stamp duty payable
Up to $525,000 Duty payable = (0.06571441 x V) + 15V, where V is 1/1,000 of the property’s dutiable value
Between $525,001 and $3,000,000 4.95% of the property value
$3,000,0001 to $5,000,000 5.75% of the property value
More than $5,000,000 5.95% of the property value

Source: https://treasury.nt.gov.au/dtf/territory-revenue-office/stamp-duty/stamp-duty-calculators

Purchase type Stamp duty cost Total government fees (est.)
Owner-occupiers $5,328 $5,632
Investors $23,929 $24,233
  • Pensioners, senior citizens, and carers in the NT can get up to $10,000 off stamp duty ($750,000 for homes, $385,000 for vacant land)

  • The Northern Territory offers a Principal Place of Residence Rebate (PPRR) rebate of up to $7,000 for new builds, land, major renovations etc.

Who is exempt from paying stamp duty?

A first-time buyer in some states can be exempt from paying stamp duty and can benefit from further concessions. The legislation makes it easier for people to buy their first home. 

NSW is one of the most generous states. If the newly constructed home you are looking to buy costs less than $550,000 then you don’t need to pay stamp duty.

Pensioners and health card holders can often qualify for a concession or exemption. 

You may ask your local Office of State Revenue to find out if you are eligible for any stamp duty exemption.

In Queensland, you may be able to claim an exemption from transfer duty on transactions involving a transfer of an interest in your home to your spouse, change of tenure between joint tenants and tenants in common. More information on stamp duty exemptions for Queensland can be found here

In Victoria, the most common exemption is the first home buyer duty exemption for properties under $600,000. Find out more about Victorian stamp duty exemptions here.

How can you work out what your stamp duty might be?

Stamp duty can be determined by a number of different things, most commonly:

  • The cost of the land and the house

  • The location of the property (state)

  • Whether you’re an investor or an owner-occupier

  • Whether you’re also a first home buyer

  • Whether the home is a house, apartment, townhouse etc.

  • Whether the house is newly built or not

  • Whether you’re a pensioner, have children etc.

All of this can mean no two people pay the same for stamp duty, and since it can be very expensive, you need to know what you’ll be out of pocket for. 

How to minimise the amount you pay?

In most states, a property that’s worth more than $500,000 will incur a large amount of stamp duty. Vacant land that is over $300,000 will also have a higher cost of stamp duty. So if you buy a home or land that’s below these amounts you will pay less.

You can also negotiate with your seller to lower the price of the property to reduce the cost of stamp duty.

loans.com.au ’s stamp duty calculator can give you an accurate estimate of how much stamp duty might cost you for your dream home, so start using it today and use one of our competitive, low-rate home loans to save even more money on your next home purchase.

Calculate stamp duty

Tags: stamp duty

Your goal is within reach
with our loan products

Related articles

The time has finally come. After scraping together all of your savings to buy your first h...

We’ll compare applying for a home loan through an online broker vs an online lender to hel...

What’s the difference between an owner-occupied home loan vs investment loan? If you’re co...

TAP to chat!