Last Updated: 13th September, 2023
What is stamp duty?
Stamp duty is a fee you pay the government when you buy property in Australia. It is called transfer duty in some states. This is an upfront cost when you’re buying a home.Can I get a stamp duty exemption?
Our stamp duty calculator, above, will work out whether you’re eligible an exemption or reduced stamp duty. Ready to apply for a home loan? Give us a call on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.How is stamp duty calculated? Does it vary by state and territory?
Stamp duty is calculated as a percentage of the purchase price. It starts at a relatively low percentage and increases for premium properties. You’ll find that some states charge more in stamp duty than others. In fact, the differences can be significant. The first home buyer benefits are also different for each state and territory, as many have special incentives for people buying new properties. You can discuss the rates with your mortgage broker or click the following links to see the stamp duty fees and potential benefits where you plan to buy.- NSW stamp duty
- VIC stamp duty
- QLD stamp duty
- WA stamp duty
- ACT stamp duty
- SA stamp duty
- TAS stamp duty
- NT stamp duty
What if I buy a property below its value?
If you buy property from a family member, you may receive a discount. When this happens, in most cases you will need to obtain a stamp duty valuation and pay the duty on the value of the property, as opposed to the purchase price.When do I pay stamp duty?
Stamp duty is usually paid on settlement day or shortly afterwards.| State/Territory | When To Pay Stamp Duty |
|---|---|
| New South Wales | Within 3 months of settlement |
| Victoria | Within 30 days of property transfer (which is usually the settlement date) |
| Queensland | Within 30 days of settlement |
| Northern Territory | Within 60 days of entering into transaction OR settlement (whichever is earlier) |
| South Australia | On settlement day |
| Tasmania | Within 3 months of property transfer (which is usually on the settlement date) |
| Western Australia | Within 2 months of settlement |
| Australian Capital Territory | Within 28 days of settlement |
