Are there discounts available?
Enter your details in our stamp duty calculator and it will work out if you’re eligible for a grant 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.
Which states does the calculator work for?
- NSW stamp duty
- VIC stamp duty
- QLD stamp duty
- WA stamp duty
- ACT stamp duty
- SA stamp duty
- TAS stamp duty
- NT stamp duty
You’ll find that some states charge more in stamp duty than others. In fact, the differences can be quite significant.
The first home benefits for each state are also different as many have special incentives for people buying new properties.
How is stamp duty calculated?
Stamp duty is calculated on a sliding scale as a percentage of the purchase price. It starts off as a relatively low percentage and increases for premium properties.
You can view the stamp duty table for your state to see where the cut-offs are or discuss this with your mortgage broker.
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.
Will stamp duty be abolished?
On August 14 2020, Philip Lowe, governor of the Reserve Bank of Australia said that he is in support of removing stamp duty as part of a broader tax reform agenda.
During his bi-annual address to the House of Representatives Standing Committee Economics, Governor Lowe explained that stamp duty is a tax on mobility and people moving locations.
The Premiers of New South Wales and Victoria confirmed that stamp duty reform would be considered to rejuvenate the economy that has been hit by the COVID-19 pandemic.
Can I qualify to buy a home?
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 first home owners grants.
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you are ready to buy.