Last Updated: 3rd June, 2024

What Is Stamp Duty?

Stamp duty, also known as transfer duty, is a one-off government fee paid by the purchaser of a property in New South Wales (NSW).

You must pay stamp duty in NSW when you buy:

How Much Is Stamp Duty In NSW?

Stamp duty is generally calculated on the market value of the property. So the higher the property value, the more expensive the stamp duty.

The stamp duty (transfer) rates for NSW as of January 2023 are as follows:

Property value Stamp duty (transfer duty) rate
$0 to $15,000 $1.25 for every $100 (minimum $10)
$15,000 to $32,000 $187 plus $1.50 for every $100 over $15,000
$32,000 to $87,000 $442 plus $1.75 for every $100 over $32,000
$87,000 to $327,000 $1,405 plus $3.50 for every $100 over $87,000
$327,000 to $1,089,000 $9,805 plus $4.50 for every $100 over $327,000
Over $1,089,000 $44,095 plus $5.50 for every $100 over $1,089,000
(Premium) Over $3,268,000 $163,940 plus $7.00 for every $100 over $3,268,000
Source: NSW State Revenue Office

Give us a call on 1300 889 743 or complete our free online assessment form to speak with one of our mortgage brokers.

Stamp Duty NSW Exemptions

When Is The Stamp Duty Exempted In NSW?

In some circumstances, you can avoid paying stamp duty. You may be exempted or discounted:

  • When you are a beneficiary of a deceased estate
  • When the transfer is between members of a married or de facto couple.

Are There Any Stamp Duty Exemptions For First Home Buyers In NSW?

Yes, there is. Under the NSW’s First Home Buyers Assistance scheme, there is stamp duty exemption for first-home buyers. Starting July 1, 2023, the following duty exemptions and concessional rates will be in effect: For New or Existing Homes:
  • Full exemption from transfer duty for homes valued up to $800,000.
  • Concessional rates available for homes valued over $800,000 but less than $1,000,000.
For Vacant Land with Intent to Build:
  • Full exemption for land valued up to $350,000.
  • Concessional rates apply for land valued over $350,000 but less than $450,000.

Unlike the First Home Owners Grant (FHOG) in NSW, the stamp duty exemption/concession applies to all property types, and is not limited to only new or off-the-plan properties.

Please read our guide for a full list of government grants and schemes available for first home buyers.

NSW Stamp Duty For First Home Buyers

    Savings from stamp duty exemption and concession for buying a property up to  million in NSW are shown side by side

How To Calculate NSW Stamp Duty On Vacant Land

To calculate the stamp duty on land in NSW, simply enter the land value in our calculator, and choose vacant land to get the stamp duty payable.

The duty payable is calculated the same way as a standard house or unit.

However, please note that for land bigger than 2 hectares, a premium transfer rate and a different method of calculation applies.

Also, first-home buyers purchasing vacant land to build their home will pay no duty at all if the land’s value is $350,000 or less.

Vacant land valued above $400,000 but below $450,000 will be charged at a discounted/concessional rate.

What Is The Stamp Duty Surcharge For Foreign Investors?

In addition to the standard transfer (stamp) duty, foreigners must also pay an 8% surcharge on the value of the residential land they buy in NSW.

For property purchased in New South Wales, a 2% land tax surcharge also applies.

The exception to this surcharge is if you’re on a subclass 444 visa or a permanent resident who has lived in Australia for more than 200 days in the 12 months before the purchase date. For the specific countries refer to the highlight below.

FAQs: Stamp Duty NSW

Are You Ready To Apply For A Home Loan?

Our mortgage brokers can assess your situation and work out if you have a large enough deposit to buy a home.

They can also clarify any questions you may have about the cost of stamp duty, transfer fees or the First Home Owner Grants

Speak to one of our specialist mortgage brokers by calling us on 1300 889 743 or fill in our free online assessment form to find out if you’re ready to buy.