Overview of Stamp Duty in Australia

Stamp duty, also known as transfer duty, is a state and territory tax on property purchases. Rates and rules vary across New South Wales, Victoria, Queensland, Western Australia, South Australia, Tasmania, the Australian Capital Territory, and the Northern Territory.

How Stamp Duty Is Calculated

Each jurisdiction applies its own sliding scale, usually based on the property’s dutiable value. Some states offer concessions or exemptions for first-home buyers and impose additional charges or higher rates for foreign purchasers.

First-Home Buyer Concessions and Foreign Buyer Surcharges

First-home buyers may qualify for a full or partial exemption if the property price is below a certain threshold. Foreign buyers often pay an additional duty surcharge in most states.

State-by-State Summary

New South Wales

  • Stamp duty rates are progressive, with thresholds set by the value of the property.
  • First-home buyers may be exempt if the home is valued below the applicable threshold.
  • Foreign buyers pay an additional surcharge on top of the standard duty.

Victoria

  • Similar progressive rates apply, with a first-home buyer duty exemption or concession available for homes up to a set value.
  • Foreign purchasers face an additional surcharge.

Queensland

  • Transfer duty rates are based on the property value.
  • First-home concession is available for homes up to a certain price.
  • Foreign buyers pay an extra duty.

Western Australia

  • Duty rates are set by the property value.
  • First-home buyers may be eligible for a transfer duty concession.
  • A foreign buyer surcharge is imposed.

South Australia

  • Stamp duty is calculated on a sliding scale.
  • First-home buyers can claim a concession or exemption for homes under a certain amount.
  • Foreign buyers pay a surcharge.

Tasmania

  • Duty rates are progressive.
  • First-home buyers may get a concession for homes below a threshold.
  • Foreign buyers face an additional duty.

Australian Capital Territory

  • Instead of stamp duty, the ACT applies a property transfer duty with a progressive scale.
  • First-home buyer concessions are available.
  • Foreign buyers may be subject to a surcharge.

Northern Territory

  • Transfer duty is calculated progressively.
  • First-home buyers may receive an exemption or concession.
  • Foreign buyers pay an additional stamp duty.

Frequently Asked Questions

Do first-home buyers always pay stamp duty?

Many states offer full or partial exemptions if the property value is below a certain threshold.

Is there an extra cost for foreign buyers?

Yes, most Australian states and territories charge foreign buyers an additional surcharge on top of standard stamp duty.

When is stamp duty paid?

Stamp duty is generally paid at settlement, though exact timing can vary by state.