Stamp duty explained: state-by-state guide
What 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. It’s important to consider how much you need to pay before buying a new home.
How much does stamp duty cost?
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.
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.
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 in Australia: State-by-state
As mentioned, stamp duty differs between states and territories, along with the various concessions for first-time buyers and pensioners.
New South Wales Stamp Duty Costs
In New South Wales, stamp duty is also referred to as transfer duty. The cost of transfer duty depends on a property’s sale price or current market value. There is a standard duty rate and a premium duty rate (for residential properties with a value exceeding $3,000,000).
NSW Standard Transfer Duty
| Property value | Transfer duty rate |
|---|---|
| $0 to $16,000 | $1.25 for every $100 (minimum $20) with a minimum duty of $10, before 1 February 2024 |
| $16,000 to $35,000 | $200 and an additional $1.50 for every $100 over $16,000 |
| $35,000 to $93,000 | $485 and an additional $1.75 for every $100 over $35,000 |
| $93,000 to $351,000 | $1,500 and an additional $3.50 for every $100 over $93,000 |
| $351,000 to $1,168,000 | $10,530 and an additional $4.50 for every $100 over $351,000 |
| Over $1,168,000 | $47,295 and an additional $5.50 for every $100 over $1,168,000 |
NSW Premium Transfer Duty
| Property value | Duty rate |
|---|---|
| Over $3,505,000 | $175,830 and an additional $7.00 for every $100 over $3,505,000 |
Source: NSW Standard transfer duty calculations from 1 July 2023
On 1 July 2023, the First Home Buyers Assistance Scheme was expanded to increase stamp duty exemption to $800,000. Stamp duty concessions have also been lifted to $1 million. You can calculate your stamp duty in NSW using the transfer or land or business revenue calculator.
Victoria Stamp Duty Costs
The table below details the general stamp duty rates for contracts entered on or after 1 July 2021, and applicable when you buy dutiable property. Historical rates may apply for contracts entered before 1 July 2021.
| Property value | Duty rate |
|---|---|
| $0 to $25,000 | 1.4% of the dutiable value of the property |
| Over $25,000 to $130,000 | $350 plus 2.4% of the dutiable value of more than $25,000 |
| Over $130,000 to $960,000 | $2870 plus 6% of the dutiable value of more than $130,000 |
| Over $960,000 to $2,000,000 | 5.5% of the dutiable value |
| Over $2,000,000 | $110,000 plus 6.5% of the dutiable value of more than $2,000,000 |
Source: State Revenue Office of Victoria General land transfer duty current rates
Note that stamp duty costs aren’t the same across the board in Victoria. Different duty consequences may apply to specific circumstances. Concessions and exemptions are calculated differently based on the type of property and its value.
For those buying their first home with a contract date on or after 1 July 2017, they could be eligible for stamp duty exemption or concession. Contracts dated before 1 July 2017 may be eligible for a 50% duty reduction.
Those with new residential properties with a dutiable value of up to $1 million within the City of Melbourne local government areas could be entitled to a 50% concession or exemption. Pensioners can get an exemption or concession depending on the value of their property.
For foreigners purchasing residential property, they’re required to pay a foreign purchaser additional duty which is combined with the general land transfer duty.
Queensland Stamp Duty Costs
In Queensland, stamp duty costs are relatively low. However, those with seniors cards or pensioner concession cards don’t have separate transfer duty rates. The table below applies to most homebuyers and investors.
Foreigners trying to purchase land will have to pay an additional 7% of stamp duty in addition to the regular duty rates.
| Dutiable value | Duty rate |
|---|---|
| Not over $5,000 | None |
| Over $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 |
| Over $1,000,000 | $38,025 plus $5.75 for each $100, or part of $100, over $1,000,000 |
Source: Queensland Revenue Office Transfer Duty Rates
Queensland offers concessions and exemptions to stamp duty as long as you meet eligibility requirements. If you’re buying your first home, you could claim a first home concession. This is applicable for homes valued under $550,000 and could save you up to $15,925.
Western Australia Stamp Duty Costs
The duty rates in WA may be applied at a general rate or a concessional rate depending on your circumstances. There’s also a first home owner rate that may be applicable if you’re buying your first property.
WA General Stamp Duty Rates
| Property value | Duty rate |
|---|---|
| $0 to $120,000 | $1.90 per $100 or part thereof |
| $120,001 to $150,000 | $2,280 + $2.85 per $100 or part thereof above $120,000 |
| $150,001 to $360,000 | $3,135 + $3.80 per $100 or part thereof above $150,000 |
| $360,001 to $725,000 | $11,115 + $4.75 per $100 or part thereof above $360,000 |
| $725,001 and above | $28,453 + $5.15 per $100 or part thereof above $725,000 |
For first time home buyers, their stamp duty rates will be as follows:
| Property value (Home) | Duty rate |
|---|---|
| $0 to $430,000 | None |
| $430,001 to $530,000 | $19.19 per $100 or part thereof above $430,000 |
| $530,001 and above | Residential duty rates may apply |
| Property value (Land) | |
| $0 to $300,000 | None |
| $300,001 to $400,000 | $13.01 per $100 or part thereof above $300,000 |
| $400,001 and above | Residential duty rates may apply |
Source: WA Stamp Duty Assessment
You must apply for a stamp duty exemption for property transfer between spouses or de facto partners, cancelled transactions, family farm transactions, or charitable transactions.
South Australia Stamp Duty Costs
Stamp duty rates in SA are as follows in the table below. For foreign purchasers, they are subjected to a 7% additional stamp duty rate.
| Property value | Payable duty |
|---|---|
| Not over $12,000 | $1.00 for every $100 or part of $100 |
| Over $12,000 but not $30,000 | $120 with an additional $2.00 for every $100 or part of $100 over $12,000 |
| Over $30,000 but not $50,000 | $480 with an additional $3.00 for every $100 or part of $100 over $30,000 |
| Over $50,000 but not $100,000 | $1,080 with an additional $3.50 for every $100 or part of $100 over $50,000 |
| Over $100,000 but not $200,000 | $2,830 with an additional $4.00 for every $100 or part of $100 over $100,000 |
| Over $200,000 but not $250,000 | $6,830 with an additional $4.25 for every $100 or part of $100 over $200,000 |
| Over $250,000 but not $300,000 | $8,955 with an additional $4.75 for every $100 or part of $100 over $250,000 |
| Over $300,000 but not $500,000 | $11,330 with an additional $5.00 for every $100 or part of $100 over $300,000 |
| Over $500,000 | $21,330 with an additional $5.50 for every $100 or part of $100 over $500,000 |
Source: RevenueSA Rate of Stamp Duty
There are some exemptions and concessions available to those who meet a certain criterion. If you’re a first home buyer, you could be eligible for stamp duty first home buyer relief. This stamp duty relief could completely or partially reduce your stamp duty based on the value of your property.
Tasmania Stamp Duty Costs
In Tasmania, the duty costs are charged on a sliding scale. It will depend on the unencumbered value of the property, or the purchase price paid, whichever is higher. The general stamp duty costs are as follows:
| Property value | Duty rate |
|---|---|
| Not over $3,000 | $50 |
| Over $3,000 but does not exceed $25,000 | $50 with an additional $1.75 for every $100, or part, by which the dutiable value exceeds $3,000 |
| Over $25,000 but does not exceed $75,000 | $435 with an additional $2.25 for every $100, or part, by which the dutiable value exceeds $25,000 |
| Over $75,000 but does not exceed $200,000 | $1,560 with an additional $3.50 for every $100, or part, by which the dutiable value exceeds $75,000 |
| Over $200,000 but does not exceed $375,000 | $5,935 with an additional $4.00 for every $100, or part, by which the dutiable value exceeds $200,000 |
| Over $375,000 but does not exceed $725,000 | $12,935 with an additional $4.25 for every $100, or part, by which the dutiable value exceeds $375,000 |
| Over $725,000 | $27,810 with an additional $4.50 for every $100, or part, by which the dutiable value exceeds $725,000 |
Source: State Revenue Office of Tasmania Rates of Duty
Residents of Tasmania can also receive stamp duty concessions such as first home buyers of established homes duty concession and pensioners downsizing to a new home duty concession. Both these concessions provide 50% concessions on property transfer duty to those eligible.
Exemptions such as personal relationship duty exemption, breakdown of relationship duty exemption, and intergenerational rural transfer (family farm) exemption are also available.
Australian Capital Territory Stamp Duty Costs
In ACT, stamp duty is also called conveyance duty. Duty on owner-occupier purchases of properties valued up to $260,000 will have a lower rate of 0.49%. This is applicable for eligible properties on or after 1 July 2023.
For commercial properties with a dutiable value of $1,800,000 or less, buyers won’t have to pay conveyance duty starting 1 July 2023. If the property value exceeds the limit, there will be a 5% flat rate applied.
ACT Non-Commercial Rates of Duty for Eligible Owner Occupier Transaction (Transactions on or after 1 July 2023)
| Property value | Duty rate |
|---|---|
| Not over $260,000 | $0.49 per $100 or part of thereof up to $260,000 |
| $260,001 to $300,000 | $1,274 with an additional $2.20 per $100 or part thereof by which the value exceeds $260,000 |
| $300,001 to $500,000 | $2,154 with an additional $3.40 per $100, or part thereof by which the value exceeds $300,000 |
| $500,001 to $750,000 | $8,954 with an additional $4.32 per $100, or part thereof by which the value exceeds $500,000 |
| $750,001 to $1,000,000 | $19,754 with an additional $5.90 per $100, or part thereof by which the value exceeds $750,000 |
| $1,000,001 to $1,455,000 | $34,504 with an additional $6.40 per $100, or part thereof by which the value exceeds $1,000,000 |
| Over $1,455,000 | A flat rate of $4.54 per $100 applied to the total transaction value |
ACT Non-Commercial Rates of Duty for Non-Eligible Owner Occupier Transaction (Transactions on or after 1 July 2023)
| Property value | Duty rate |
|---|---|
| Not over $200,000 | $1.20 per $100 or part thereof up to $200,000 |
| $200,001 to $300,000 | $2,400 with an additional $2.20 per $100 or part thereof by which the value exceeds $200,000 |
| $300,001 to $500,000 | $4,600 with an additional $3.40 per $100 or part thereof by which the value exceeds $300,000 |
| $500,001 to $750,000 | $11,400 with an additional $4.32 per $100 or part thereof by which the value exceeds $500,000 |
| $750,001 to $1,000,000 | $22,200 with an additional $5.90 per $100, or part thereof by which the value exceeds $750,000 |
| $1,000,001 to $1,455,000 | $36,950 with an additional $6.40 per $100, or part thereof by which the value exceeds $1,000,000 |
| Over $1,455,000 | A flat rate of $4.54 per $100 applied to the total transaction value |
Source: ACT Revenue Office Conveyance duty
If your transaction is before 1 July 2023, historical conveyance rates may apply. You may also be eligible for conveyance duty exemption depending on your circumstances. It's best to contact the ACT Revenue Office or check out their website to learn about your eligibility for concessions and exemptions.
Northern Territory Stamp Duty Costs
In NT, the stamp duty rates are calculated based on percentage. Your property’s value will determine how much stamp duty you’ll have to pay.
| Property value | Duty rate |
|---|---|
| Not over $525,000 | Duty payable = (0.06571441 x V) + 15V, where V is 1/1,000 of the property’s dutiable value |
| $525,001 to $3,000,000 | 4.95% of the property value |
| $3,000,0001 to $5,000,000 | 5.75% of the property value |
| Over $5,000,000 | 5.95% of the property value |
Source: NT Stamp Duty Calculator
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 NT government also offers a Principal Place of Residence Rebate (PPRR) of up to $7,000 for new builds, land, major renovations, and the like.
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, a 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 minimise your stamp duty?
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.
See if you’re eligible for any concessions or exemptions for stamp duty, as well. Or negotiate with your seller to lower the price of the property to reduce the cost of stamp duty.
To get a better idea of how much your stamp duty will cost, try loans.com.au’s stamp duty calculator. Simply input the needed information and you’ll get an estimate of your stamp duty fees.
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