Guide To Stamp Duty Australia

Guide To Stamp Duty Australia

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.

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How Much Stamp Duty Do I Have To Pay?

Stamp duty varies from state to state. The following information is current as at June 2013 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.

New South Wales Stamp Duty Rates

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 Stamp Duty Rates

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 Stamp Duty Rates

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 Stamp Duty Rates

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 Stamp Duty Rates

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 Stamp Duty Rates

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 Stamp Duty Rates


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 Stamp Duty Rates

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

First Home Buyers Stamp Duty Concessions & Exemptions

In the some cases, 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. Below are examples of stamp duty concessions and exemptions for first home buyers. There are also grants available to first home buyers, to see those grants for every state, read our First Home Owners Grant Guide.

ACT First Home Buyers Stamp Duty Concessions

Eligible Property (New or Substantially Renovated)

  • Under $425,000 = $20 Stamp Duty in total
  • Between $425,000- $525,000 = Part concession
  • Over $525,000 = No concession

Eligible Vacant Block (Land)

  • Under $250,000 = $20 Stamp Duty in total
  • Between $250,000 - $290,000 = Part concession
  • Over $290,000 = No Concession

NSW First Home Buyers Stamp Duty Concessions

Eligible Property (Newly constructed home)

  • Under $550,000 = Exempt from Stamp Duty
  • Between $550,000- $650,000 = Part concession
  • Over $650,000 = No concession

Eligible Vacant Block (Land on which to build a new home)

  • Under $350,000 = Exempt from Stamp Duty
  • Between $350,000 - $450,000 = Part concession
  • Over $450,000 = No Concession

NT First Home Buyers Stamp Duty Concessions

Principal Place of Residence Rebate (PPRR)

  • Up $7000 off stamp duty for the purchase of new homes, or land to build new homes. No limit on purchase price.

(PPRR is not available to those eligible for the SPCC or the First Home Owner Grant)

QLD First Home Buyers Stamp Duty Concessions

First Home (New or Established)

  • Under $505,000 = Up to $8750 off Stamp Duty
  • Between $505,000- $550,000 = Part concession
  • Over $550,000 = No concession

Eligible Vacant Block (Land)

  • Under $250,000 = Exempt from Stamp Duty
  • Between $250,000 - $400,000 = Part concession
  • Over $400,000 = No Concession

VIC First Home Buyers Stamp Duty Concessions

Victoria offers a 40% reduction in the total stamp duty payable to first home buyers on properties between $200,000 - $600,000.

WA First Home Buyers Stamp Duty Concessions

No Stamp Duty Exemptions, however lower rates apply to residential properties valued at less than $200,000, which will be the primary place of residence for the purchaser.

SA First Home Buyers Stamp Duty Concessions

$21,330 off the total stamp duty payable. If the value of the property is under $500,000 then no stamp duty will be payable. Property has to be new or substantially renovated.

TAS First Home Buyers Stamp Duty Concessions

Tasmania offers no stamp duty concessions for first home buyers.

Pensioner Stamp Duty Concessions And Exemptions

There are also many stamp duty concessions and exemptions available for eligible pensioners, these are shown below.

ACT Pensioner Stamp Duty Concessions

Eligible Property (Residential home)

  • Under $560,000 = $20 Stamp Duty in total
  • Between $560,000- $705,000 = Part concession
  • Over $705,000 = No concession

Eligible Vacant Block (Land)

  • Under $290,000 = $20 Stamp Duty in total
  • Between $290,000 - $345,000 = Part concession
  • Over $345,000 = No Concession

To be eligible for the Pensioner concession in ACT, the purchaser must be an eligible pensioner in receipt of:

  • an Australian age pension (Centrelink or Department of Veterans’ Affairs equivalent) and who holds a pensioner concession card;  or
  • a disability support pension and is 50 years of age or more and who holds a pensioner concession card;  or
  • a Department of Veterans’ Affairs Gold Card for one year prior to the transaction.

NT Pensioner Stamp Duty Concessions

Eligible Property

  • Under $750,000 = Up to $8500 off the Stamp Duty
  • Over $750,000 = No concession

Eligible Vacant Block (Land)

  • Under $385,000 = Up to $8500 off the Stamp Duty
  • Over $385,000 = No Concession

To be eligible for the SPCC concession in NT, the purchaser must be 60 years or older OR the holder of Northern Terriorty pensioner and carer concession card.

Victorian Pensioner Stamp Duty Concessions

Eligible Property

  • Under $330,000 = Exempt from Stamp Duty
  • Between $330,000- $750,000 = Part concession
  • Over $750,000 = No concession

To be eligible for the Pensioner concession in Victoria,the purchaser hold one of the following cards: Pensioner Concession Card, Health Care Card, Commonwealth Seniors Health Card, or DVA Gold Card.

NSW Pensioner Stamp Duty Concessions

NSW Does not offer any concessions for pensioners.

QLD Pensioner Stamp Duty Concessions

QLD does not offer any concessions for pensioners.

SA Pensioner Stamp Duty Concessions

SA does not offer any concessions for pensioners.

TAS Pensioner Stamp Duty Concessions

Tasmania does not offer any concessions for pensioners.

Recent Changes To Stamp Duty Laws

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

Below are the most recent changes

NSW
The First Home Owner Grant (New Homes) grant of $15,000 is extended for a further 2 years from 31 December 2013 to 31 December 2015. It will reduce to $10,000 from 1 January 2016.

SA
Housing Construction Grant axed June 30th 2013.

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