Stamp duty, also known as transfer duty in some states, is a significant cost when purchasing property in Australia. With rates and concessions varying dramatically between states and territories, understanding your obligations can save you thousands of dollars.

What is Stamp Duty?

Stamp duty is a state government tax imposed on the transfer of property ownership. It's calculated based on the property's value or purchase price (whichever is higher) and must be paid within a specified timeframe after the property transfer.

Stamp Duty Rates by State (2024)

New South Wales (NSW)

Standard Rates:

  • Up to $14,000: $1.25 per $100
  • $14,001 - $32,000: $175 + $1.50 per $100
  • $32,001 - $85,000: $445 + $1.75 per $100
  • $85,001 - $319,000: $1,372.50 + $3.50 per $100
  • $319,001 - $1,059,000: $9,562.50 + $4.50 per $100
  • Over $1,059,000: $42,862.50 + $5.50 per $100

First Home Buyer Concessions:

  • Full exemption: Properties up to $650,000
  • Concession: Properties $650,001 - $800,000

Victoria (VIC)

Standard Rates:

  • Up to $25,000: $1.40 per $100
  • $25,001 - $130,000: $350 + $2.40 per $100
  • $130,001 - $960,000: $2,870 + $6.00 per $100
  • Over $960,000: $52,670 + $6.50 per $100

First Home Buyer Concessions:

  • Full exemption: Properties up to $600,000
  • Concession: Properties $600,001 - $750,000

Queensland (QLD)

Standard Rates:

  • Up to $5,000: $1.50 per $100
  • $5,001 - $75,000: $75 + $3.50 per $100
  • $75,001 - $540,000: $2,525 + $4.50 per $100
  • $540,001 - $1,000,000: $23,450 + $5.75 per $100
  • Over $1,000,000: $49,900 + $6.50 per $100

First Home Buyer Concessions:

  • Full exemption: Properties up to $500,000
  • Concession: Properties $500,001 - $550,000

Western Australia (WA)

Standard Rates:

  • Up to $120,000: $1.90 per $100
  • $120,001 - $150,000: $2,280 + $2.85 per $100
  • $150,001 - $360,000: $3,135 + $3.80 per $100
  • $360,001 - $725,000: $11,115 + $4.75 per $100
  • Over $725,000: $28,452.50 + $5.15 per $100

First Home Buyer Concessions:

  • Full exemption: Properties up to $430,000
  • Concession: Properties $430,001 - $530,000

South Australia (SA)

Standard Rates:

  • Up to $12,000: $1.00 per $100
  • $12,001 - $30,000: $120 + $2.00 per $100
  • $30,001 - $50,000: $480 + $3.00 per $100
  • $50,001 - $100,000: $1,080 + $3.50 per $100
  • $100,001 - $200,000: $2,830 + $4.00 per $100
  • $200,001 - $250,000: $6,830 + $4.25 per $100
  • $250,001 - $300,000: $8,955 + $4.75 per $100
  • Over $300,000: $11,330 + $5.50 per $100

First Home Buyer Concessions:

  • Full exemption: Properties up to $500,000
  • Concession: Properties $500,001 - $650,000

Tasmania (TAS)

Standard Rates:

  • Up to $1,300: $50
  • $1,301 - $3,000: $1.75 per $100
  • $3,001 - $25,000: $50 + $2.25 per $100
  • $25,001 - $75,000: $545 + $3.50 per $100
  • $75,001 - $200,000: $2,295 + $4.00 per $100
  • $200,001 - $375,000: $7,295 + $4.25 per $100
  • Over $375,000: $14,732.50 + $4.50 per $100

First Home Buyer Concessions:

  • Full exemption: Properties up to $400,000
  • 50% concession: Properties $400,001 - $500,000

Australian Capital Territory (ACT)

Standard Rates:

  • Up to $200,000: $1.20 per $100
  • $200,001 - $300,000: $2,400 + $3.40 per $100
  • $300,001 - $500,000: $5,800 + $4.32 per $100
  • $500,001 - $750,000: $14,440 + $5.90 per $100
  • $750,001 - $1,000,000: $29,190 + $6.40 per $100
  • Over $1,000,000: $45,190 + $6.50 per $100

First Home Buyer Concessions:

  • Duty concession calculator applies based on income and property value

Northern Territory (NT)

Standard Rates:

  • Up to $525,000: $15 per $1,000
  • $525,001 - $3,000,000: $7,875 + $40 per $1,000
  • Over $3,000,000: $106,875 + $50 per $1,000

First Home Buyer Concessions:

  • Full exemption: Properties up to $650,000

Special Considerations

Off-the-Plan Purchases

Many states offer concessions for off-the-plan purchases, particularly for apartments. These can include:

  • Reduced stamp duty rates
  • Extended timeframes for payment
  • Additional first home buyer benefits

Investment Properties

Investment properties typically don't qualify for first home buyer concessions and may face additional surcharges in some states, particularly for foreign buyers.

Foreign Buyer Surcharges

Most states impose additional surcharges on foreign buyers:

  • NSW: 8% surcharge
  • VIC: 8% surcharge
  • QLD: 7% surcharge
  • WA: 7% surcharge
  • SA: 7% surcharge

Stamp Duty Payment Timeframes

Payment deadlines vary by state but are typically:

  • NSW: 3 months from contract date
  • VIC: 30 days from transfer
  • QLD: 30 days from transfer
  • WA: 3 months from transfer
  • SA: 2 months from contract date
  • TAS: 3 months from contract date
  • ACT: 3 months from contract date
  • NT: 3 months from contract date

Strategies to Minimize Stamp Duty

1. First Home Buyer Benefits

If you're eligible, first home buyer concessions can provide substantial savings. Ensure you understand the criteria in your state.

2. Consider State Differences

If you're flexible about location, comparing stamp duty costs between states can result in significant savings.

3. Timing Your Purchase

Some states periodically adjust stamp duty rates or concessions. Staying informed about upcoming changes can help you time your purchase.

4. Property Value Optimization

Sometimes negotiating the breakdown between land and fixtures can impact stamp duty calculations.

Common Stamp Duty Mistakes

  • Not budgeting for stamp duty in your purchase calculations
  • Missing application deadlines for concessions
  • Not understanding eligibility criteria for exemptions
  • Failing to consider foreign buyer surcharges
  • Not seeking professional advice for complex situations

Need Help Calculating Your Stamp Duty?

Our stamp duty specialists can help you understand your obligations across all Australian states and identify any available concessions. Get accurate calculations and strategic advice today.

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