Understanding Stamp Duty Rates in Australia

Understanding Stamp Duty Rates in Australia

Whether you are in the market as a new home buyer or a repeat buyer, you’ve probably heard of the term stamp duty. But do you have an understanding of the ins and outs?

What is stamp duty?

On the surface stamp duty is a tax applied by all Australian states and territories on numerous acquisition including selling cars, real estate and property purchases. The stamp duty a buyer pays is based on the property purchase price, location and assets belonging to a business. Some states have different rates for residential properties and investment properties.

Who pays stamp duty?

Though some states offer exemptions or concessions, all land transfers and property sales do attract a duty. Some of the concessions that are available are for: • First home buyers • Principal place of residence • Pensioners • Family farms • Deceased estates

Why does stamp duty differ from state to state?

Stamp duty in Australia is levied by territory and state government and not the federal government. Each state has a different levy and this can be very confusing especially when one is trying to buy property from a different state than where they live. However, to simplify things, all states calculate the stamp duty based on the greater of two factors; the price paid for the property or the current market value of the property.

How much will I pay?

The amount of stamp duty you’ll pay varies depending on the state or territory you intend to buy your property. Here are snapshots of the current rates payable by each state to help give you an idea on how much you may have to pay.

1. New South Wales

New South Wales government


Transaction dates from 3 June 2015 :-

For more information on exemptions and concessions, please visit – ACT Revenue Office

2. Tasmania

State Revenue Office

Northern Territory

Visit Department of treasury and finance for more details on exemptions and concessions.

Southern Australia

Visit RevenueSA for more details.

3. Victoria

State revenue office Western Australia

Department of finance for more information on concessions and exemptions

4. Queensland

Queensland Government Stamp duty is subject to change. Be sure to check with your mortgage broker and get your facts right to avoid shock once you’ve acquired your dream property.

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