NT Stamp Duty Calculator 2021: Property Transfer Duty

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 the NT.

You will need to pay stamp duty when you acquire:

  • a home
  • land
  • business property

Stamp duty is calculated on the purchase price or the market value of the property, whichever is higher.

So the higher the property value, the more expensive the stamp duty will be.

How to calculate stamp duty in the NT?

The stamp duty (transfer) calculation in the Northern Territory is very different from all the other states.

In NT, where the property value doesn’t exceed $525,000, it is calculated using a complex formula as follows:

D = (0.06571441 x V² ) + 15V

Where, D = the duty payable in $;
V = the dutiable value/1000

For example, if you were buying a property valued at $400,000 in the NT, the amount of stamp duty payable is:

= $(0.06571441 x $400,000/1000 ²) + 15 x $400,000/1,000

= $10,514.30 + 6,000

= $16,514.30

Alternatively, you can enter your details on our calculator above to get the same result.

The Northern Territory Stamp Duty Rates

The stamp duty rate for property transfer in the Northern Territory are as follows:

Property Purchase Price/ Value Stamp Duty (Transfer Duty) Rate
Up to $525,000 D = (0.06571441 x V² ) + 15V
Between $525,001 and $3,000,000 4.95% of the property value
Between $3,000,0001 and $5,000,000 5.75% of the property value
More than $5,000,000 5.95% of the property value

Source: NT State Revenue Office

For property valued above $525,000, a flat percentage of the property value is applied as stamp duty, i.e. when purchasing a $600,000 property in Darwin NT, a flat percentage of 4.95% is applied to the property value, so the stamp duty payable is $29,700.

What other fees are there with stamp duty in the NT?

In addition to the stamp duty, there is the:

  • Mortgage Registration Fee of $149.00 from 1 July 2019. It is a flat fee charged for registering the mortgage on the property title.
  • Land Transfer Fee of $149.00

You may be able to add the cost of stamp duty to your home loan.

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

NT stamp duty exemptions

What stamp duty exemptions or concessions are available in the NT?

Territory Home Owner Discount (THOD)

First home buyers and buyers who’ve not owned a property in the last 24 months are eligible to get a reduction of up to $18,601 off the stamp duty. The home must be your principal place of residence, i.e. you must live in the property.

This discount is available when buying an established home, a new home or land to build a new home, up to a value of $650,000.

This 24 month wait period is waived if home buyers no longer hold an interest in a property as a result of a breakdown of a marriage or de facto relationship.

Please note: Our NT stamp duty calculator does not apply THOD for non-First Home Buyers, so if you qualify for the THOD, please input as a first home buyer to calculate the relevant stamp duty, or refer to the NT Government website.

Property Value Normal Stamp Duty Territory Home Owner Discount (THOD) Stamp Duty Payable
$300,000 $10,414.25 $10,414.25 $0
$400,000 $16,514.30 $16,514.30 $0
$500,000 $23,928.60 $18,601 (max discount $5,327.60
$600,000 $29,700.00 $18,601 (max discount) $11,099.00
$700,000 $34,650.00 $0 (property exceeds threshold) $34,650.00

Stamp Duty – Senior, Pensioner and Carer Concessions (SPCC)

Under the SPCC, an amount up to $10,000 off the stamp duty is available for eligible pensioners.

To be eligible for this stamp duty concession, the property value must not exceed $750,000, with the maximum set at $385,000 for the home and land respectively.

Ceased NT government schemes

The following NT government schemes no longer apply:

  • The Principal Place of Residence Rebate (PPRR) on stamp duty in NT ceased on 8 February 2019
  • The First Home Owner Discount ceased on 6 May 2019

How much is the first home owners grant in the NT?

The Northern Territory has a range of building grants including the First Home Owners Grant (FHOG).

They include:

  • First Home Owners Grant: A one-off First Home Owners Grant of $10,000 for eligible first home buyers building or buying a new home. The grant amount was reduced from $26,000 to $10,000 from 7 May 2019.
  • Home Renovation Grant: First home buyers who purchase an established property are eligible to get a $10,000 grant to renovate or improve the property.
  • Household Goods Grant: First home buyers who purchase a new property are eligible to get a $2,000 grant to buy household goods.
  • BuildBonus Grant: If buying or building a new home in the Northern Territory, purchasers can apply for a grant of $20,000. This grant is limited to the first 600 applications.

First home buyers in the NT may also be eligible to apply for the First Home Loan Deposit Scheme potentially saving them tens of thousands in Lenders Mortgage Insurance fees.

How much is stamp duty on an off-the-plan purchase in the NT?

For off-the-plan properties in the NT, stamp duty is calculated on the value of the property at the date of the contract, not the value on completion of construction.

There may be stamp duty benefits as the value of the property may increase by the time construction is completed, which can often be as long as two years away.

As mortgage brokers, we generally only recommend buying off-the-plan properties if you have a big deposit (more than 20%) and are in a strong financial position.

Because if your financial situation changes while the development is under construction, you risk your loan being declined, defaulting on the building contract and possibly losing your deposit.

How much is stamp duty for a foreign purchaser in the NT?

At this point in time, there is no stamp duty surcharge for foreign property buyers in the Northern Territory (NT).

FAQs: Stamp duty NT

Who pays the stamp duty in the NT?

The stamp duty is paid by the purchaser of the property.

It is recommended that you hire the services of a qualified conveyancer or solicitor licensed to operate in the NT.

Your conveyancer or solicitor lodges an application on your behalf. They’ll also arrange for the duty to be paid. This is typically done as part of the settlement process. They’ll also know if you are entitled to any exemptions or concessions.

Who is the stamp duty payable to in the NT?

The stamp duty is payable to the Territory Revenue Office.

For further assistance, please contact them on 1300 305 353.

When is the stamp duty payable in the NT?

Generally, stamp duty becomes payable within 60 days of the date you enter into transaction or settlement, whichever is earlier in the NT.

Your solicitor or conveyancer should be able to assist you on the matter.

If you’re taking out a home loan, the bank will want you to pay the stamp duty on the settlement date, so factor this fee into your calculation.

What if I buy a property below value?

In most cases, you will need to obtain a stamp duty valuation and pay stamp duty on the value as opposed to the purchase price.

This is common when someone buys a property from their family and is given a discount.

Are you ready to apply for a home loan?

Our award-winning 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 first home owners grants.

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

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The latest updates to the stamp duty calculator were made in August 2021 to incorporate the recent policy changes.

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