Stamp duty on property, usually called transfer duty, is a tax charged by Australian state and territory governments when property ownership changes. There is no single Australia-wide amount.
The cost depends on the jurisdiction, property value, buyer type and available concessions. Use the relevant revenue office calculator for the contract date and ask the client’s conveyancer or solicitor to confirm the final legal amount.
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How Stamp Duty Is Calculated
Each state or territory sets its own rate scale and rules. The calculation may use the price paid or another dutiable value. The rate can change as the value rises, so a flat percentage estimate may be wrong.
Owner-occupiers, investors and companies may receive different treatment. A First home buyer may also qualify for a concession or exemption under the current local scheme.
How Much Should A Buyer Allow?
Calculate the amount from the official revenue office rather than relying on a national table or an old example. First home buyers should check price limits, residence requirements and timing rules before treating a concession as available.
- Select the state or territory where the property is located.
- Enter the correct dutiable value and transaction date.
- Apply only concessions the buyer appears to satisfy.
- Confirm the result with the buyer’s legal adviser.
- Include a buffer in the funds-to-complete figure.
Exemptions And Other Costs
Eligibility for stamp duty exemptions or concessions is jurisdiction-specific. A buyer should also allow for registration, conveyancing, inspections and lender charges where they apply.
Transfer duty is different from recurring land tax or another property tax. Brokers can estimate funds to complete, but tax and legal advice should come from the relevant qualified adviser.
