What is stamp duty?
Stamp duty, also known as transfer duty, is a government tax you need to pay when buying property in
Australia. It applies whether you are purchasing a home, land, or an investment property, and it can be one of the biggest upfront costs.
How much you pay depends on a few key factors:
- The state or territory where you are buying
- The value of the property
- Whether you are a first home buyer or a repeat purchaser
Since stamp duty is calculated as a percentage of the property price, the cost can run into the thousands. That is why it is important to include it in your budget early when planning your home purchase.
Use our stamp duty calculator to get a quick estimate
Want to know how much stamp duty you will need to pay? Our stamp duty calculator gives you a quick and easy estimate based on your property price, location, and buyer type.
It helps you:
- Understand what your upfront costs will be
- Compare costs in different states or territories
- Plan ahead with confidence
If you are not sure how to use the results or want help with your next steps, one of our expert mortgage brokers can talk you through it and show you how it fits into your home buying plan.
Stamp duty concessions and exemptions for first home buyers
If you are a
first home buyer, you may be eligible for a stamp duty exemption or concession. These benefits vary depending on the state or territory and the value of the property.
You could qualify if:
- The property price is under the threshold set by your state or territory
- You intend to live in the property as your main residence
- You are an Australian citizen or permanent resident
- You have never owned property in Australia before
These concessions can reduce or remove the stamp duty you need to pay, saving you thousands of dollars. Our brokers stay up to date with the latest government offers and can help you understand what you qualify for and how to apply.
Stamp duty FAQs
What is stamp duty used for?
Stamp duty is a government tax that helps fund public services such as roads, schools, and healthcare. It is charged when ownership of a property is transferred.
Do all property buyers have to pay stamp duty?
Most people do, but there are exceptions. First home buyers, pensioners, and off-the-plan buyers may be eligible for exemptions or discounts depending on where they are buying.
How can I reduce the amount of stamp duty I pay?
You may be able to access first home buyer concessions, grants, or other government incentives. Our brokers can help you explore these options.
Does stamp duty apply to land purchases?
Yes, stamp duty applies to land as well as established homes. The amount is based on the purchase price or market value.
Is stamp duty included in my home loan?
Stamp duty is usually paid upfront and is not part of your home loan. Some lenders might let you borrow more to cover it, depending on your situation.
When is stamp duty due?
Stamp duty is generally due within 30 days of settlement, though timing can vary by state. It is important to be prepared for this cost.
