Stamp duty – the basics explained

Stamp duty is a general tax imposed upon certain documents and some undocumented acquisitions. These include title transfers as a result of selling real estate, vehicles, business assets and other property; gifts; insurance policies and home loans, and is paid by the purchaser or borrower. Revenue raised is then used to fund public services including:

education;
health;
law and order; and
public safety.

Stamp duty concessions

In the case of residential or business property transfers, stamp duty can be charged at a concessional rate. Certain prerequisites must be met before the concessional rate is approved such as property value, property type and occupancy requirements. To find out which concessions are available in your state contact the Office of State Revenue.

How much stamp duty do I have to pay?

Stamp duty varies from state to state. The following information is current as at January 2011 and does not take into account any concessions that may be available.

As can be seen, stamp duty can add significantly to the purchase price of a property so it's vital that you take this into account when you're looking to buy your new home.

Select your state to see Stamp Duty rates

New South Wales

Dutiable Value	Duty Payable
$0 - $14,000	1.25% of dutiable value
$14,001 - $30,000	$175 + 1.5% of dutiable value over $14,000
$30,001 - $80,000	$415 + 1.75% of dutiable value over $30,000
$80,001 - $300,000	$1,290 + 3.5% of dutiable value over $80,000
$300,001 - $1 million	$8,990 + 4.5% of dutiable value over $300,000
$1 million - $3 million	$40,490 + 5.5% of dutiable value over $1 million
Over $3 million	$150,490 + 7% of dutiable value over $3 million

Victoria

The follow values are for a Principal place of Residence (PPR). Other values are applicable for non-PPR purchases.

Dutiable Value	Duty Payable
$0 - $25,000	1.4% of dutiable value (PPR concession not available)
$25,001 - $130,000	$350 + 2.4% of dutiable value over $25,000 (PPR concession not available)
$130,001 - $440,000	$2,870 + 5% of dutiable value over $130,000
$440,001 - $550,000	$18,370 + 6% of dutiable value over $440,000
$550,001 - $960,000	$2,870 + 6% of dutiable value over $130,000 (PPR concession not available)
Over $960,000	5.5% of dutiable value (PPR concession not available)

Queensland

Dutiable Value	Duty Payable
$0 - $5,000	No stamp duty payable
$5,001 - $105,000	1.5% of dutiable value over $5000
$105,001 - $480,000	$1,500 + 3.5% of dutiable value over $105,000
$480,001 - $980,000	$14,625 + 4.5% of dutiable value over $480,000
Over $980,000	$37,125 + 5.25% of dutiable value over $980,000

South Australia

Dutiable Value	Duty Payable
$0 - $12,000	1% of dutiable value
$12,001 - $30,000	$120 + 2% of dutiable value over $12,000
$30,001 - $50,000	$480 + 3% of dutiable value over $30,000
$50,001 - $100,000	$1080 + 3.5% of dutiable value over $50,000
$100,001 - $200,000	$2830 + 4% of dutiable value over $100,000
$200,001 - $250,000	$6830 + 4.25% of dutiable value over $200,000
$250,001 - $300,000	$8955 + 4.75% of dutiable value over $250,000
$300,001 - $500,000	$11,330 + 5% of dutiable value over $300,000
Over $500,000	$21,330 + 5.5% of dutiable value over $500,000

Western Australia

Dutiable Value	Duty Payable
$0 - $120,000	1.9% of dutiable value
$120,001 - $150,000	$2280 + 2.85% of dutiable value over $120,000
$150,001 - $360,000	$3135 + 3.8% of dutiable value over $150,000
$360,001 - $725,000	$11,115 + 4.75% of dutiable value over $360,000
Over $725,000	$28,435 + 5.15% of dutiable value over $725,000

Tasmania

Dutiable Value	Duty Payable
$0 - $1,300	$20
$1,301 - $10,000	1.5% of dutiable value
$10,001 - $30,000	$150 + 2% of dutiable value over $10,000
$30,001 - $75,000	$550 + 2.5% of dutiable value over $30,000
$75,001 - $150,000	$1675 + 3% of dutiable value over $75,000
$150,001 - $225,000	$3925 + 3.5% of dutiable value over $150,000
Over $225,000	$6,550 + 4% of dutiable value over $225,000

Australian Capital Territory

Dutiable Value	Duty Payable
$0 - $100,000	2% of dutiable value or $20, whichever is greater
$100,001 - $200,000	$2000 + 3.5% of dutiable value over $100,000
$200,001 - $300,000	$5500 + 4% of dutiable value over $200,000
$300,001 - $500,000	$9500 + 5.5% of dutiable value over $300,000
$500,001 - $1,000,000	$20,500 + 5.75% of dutiable value over $500,000
Over $1 million	$49,250 + 6.75% of dutiable value over $1 million

Northern Territory

For property values up to $525,000 the following formula is used:
Duty payable = (0.06571441 x V²) + 15V where V = (dutiable value) / 1000.

Dutiable Value	Duty Payable
$0 - $525,000	See above formula
$525,001 - $3,000,000	4.95% of dutiable value
Over $3 million	5.45% of dutiable value

Examples of Stamp Duty Calculations

On a property purchase with a dutiable value of $350,000, stamp duty will add to the overall costs:
$10,075 (Queensland)
$11,240 (NSW)
$12,250 (ACT)
$11,550 (Tasmania)
$9,800 (NT)
$10,735 (WA)
$13,830 (SA)
$13,870 (Victoria).

For a more expensive purchase, around $700,000 dutiable value, stamp duty will be between $24,525 (Queensland) and $37,070 (Victoria).

Recent changes to stamp duty laws

Regularly in recent state budget announcements changes are made to stamp duty legislation. Recently Victoria has overhauled concessional rates and raised the upper threshold. New South Wales has introduced provisions to reduce or abolish certain duties over a number of years and includes changes to mortgage duty. The other states and territories have also overhauled their own legislation, in some cases making stamp duty charges for property transfer much more affordable. To work out how much the current rate of duty will be please visit our stamp duty calculator.

For more information contact the Office of State Revenue or the State Government Treasury in your state.