Stamp Duty in Australia: An Overview

Stamp duty is a tax that applies to property purchases across Australia. Many states and territories offer concessions for certain buyers, and the rules vary.

Australian Capital Territory: Full Exemption for First Home Buyers

The Australian Capital Territory (ACT) has become the first jurisdiction in Australia to abolish stamp duty for all first home buyers. From 1 July, the new policy has no income or property price cap, so every first home buyer in Canberra will not pay stamp duty.

Other States and Territories: Variations and Concessions

Other states and territories also have stamp duty concessions. First home buyers purchasing lower-priced new homes tend to receive the largest discounts, while investors buying more expensive established properties often pay higher stamp duty.

Documents related to stamp duty for a property purchase in Australia

Key Points to Remember

  • Stamp duty policies differ across each Australian state and territory.
  • The ACT’s new policy removes income and price limits for first home buyers, a first in Australia.