How To: Calculate Stamp Duty (With Stamp Duty Calculator)
When are you moving?
When a property is up for sale, the value of a home and the subsequent purchase price seems pretty straightforward.
In theory, once you receive your home loan you’re good to proceed with purchasing a residential property. However, what isn’t mentioned is the other expenses that add up, one of which is stamp duty (land transfer duty).
Stamp duty isn’t as clear-cut as the purchase price of a property, with its own set of sums that add to the total price of stamp duty. Here, we’ll dive into everything you need to know about stamp duty, and how you can calculate exactly how much you need to pay before purchasing your new home.
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Get connectedWhat Is Stamp Duty?
Stamp duty is a state government tax that can be found in several transactions. These payments can range from purchasing a motor vehicle to insurance policies, and of course real estate. Stamp Duty can also be referred to as “land transfer duty” when in reference to property.
Each state in Australia has its own government fees surrounding stamp duty, meaning the transfer fee you pay in Victoria (VIC) will not be the same as the charges you pay in Queensland (QLD). Check with your state’s revenue office to verify local government fees.
How Much Stamp Duty Do I Pay?
The amount of stamp duty and interest rates will vary depending on the purpose of purchase and the type of property. The fees of purchasing an owner-occupied property as a first home buyer will likely be significantly less than a buyer who has owned property before or currently.
Stamp duty rates also change if you’re classified as a foreign purchaser, especially if the property purchase is intended as an investment property rather than a primary residence.
The value of the property will also determine your total stamp duty owed, as an established home will net a higher stamp duty than a plot of vacant land or cheaper property. These values are segmented into brackets, with the first property value bracket as little as $14,000 in New South Wales (NSW).
For a more accurate summary of the brackets, please see below the price brackets for each state.
NSW Price Brackets
| Property value | Stamp duty payable |
|---|---|
| $0 to $14,000 | $1.25 for every $100 (the minimum is $10) |
| $14,000 to $31,000 | $175 plus $1.50 for every $100 over $14,000 |
| $31,000 to $83,000 | $430 plus $1.75 for every $100 over $31,000 |
| $83,000 to $310,000 | $1,340 plus $3.50 for every $100 over $83,000 |
| $310,000 to $1,033,000 | $9,285 plus $4.50 for every $100 over $310,000 |
| Over $1,033,000 | $41,820 plus $5.50 for every $100 over $1,033,000 |
ACT Price Brackets
| Property value | Stamp duty payable |
|---|---|
| Up to $200,000 | $20 or $1.30 per $100 or part of $100, whichever is greater |
| $200,001 to $300,000 | $2,600 plus $2.30 per $100 or part of $100 by which the value exceeds $200,000 |
| $300,001 to $500,000 | $12,100 plus $4.56 per $100 or part of $100 by which the value exceeds $500,000 |
| $500,001 to $750,000 | $17,325 plus $4.50 for every $100 or part of $100 over $540,000 |
| $750,001 to $1,000,000 | $23,500 plus $6.10 per $100 or part thereof by which the value exceeds $750,000 |
| $1,000,001 to $1,455,000 | $38,750 plus $6.60 per $100 or part thereof by which the value exceeds $1,000,000 |
| More than $1,455,000 | A flat rate of $4.73 per $100 is applied to the total transaction value |
VIC Price Brackets
| Property value | Stamp duty payable |
|---|---|
| Up to $25,000 | 1.4% of the property price |
| $25,001 to $130,000 | $350 plus 2.4% for every dollar over $25,000 |
| $130,001 to $960,000 | $2,870 plus 6% for every dollar over $130,000 |
| $960,001 and over | 5.5% of total dutiable value |
TAS Price Brackets
| Property value | Stamp duty payable |
|---|---|
| Up to $3,000 | $50 |
| $3,001 to $25,000 | $50 plus 1.75% for every dollar over $3,000 |
| $25,001 to $75,000 | $435 plus 2.25% for every dollar over $25,000 |
| $75,001 to $200,000 | $1,560 plus 3.5% for every dollar over $75,000 |
| $200,001 to $375,000 | $5,935 plus 4% for every dollar over $200,000 |
| $375,001 to $725,000 | $12,395 plus 4.25% for every dollar over $375,000 |
| More than $725,000 | $27,810 plus 4.5% for every dollar over $725,000 |
SA Price Brackets
| Property value | Stamp duty payable |
|---|---|
| Does not exceed $12,000 | $1.00 for every $100 or part of $100 |
| Exceeds $12,000 but not $30,000 | $120 plus $2.00 for every $100 or part of $100 over $12,000 |
| Exceeds $30,000 but not $50,000 | $480 plus $3.00 for every $100 or part of $100 over $30,000 |
| Exceeds $50,000 but not $100,000 | $1,080 plus $3.50 for every $100 or part of $100 over $50,000 |
| Exceeds $100,000 but not $200,000 | $2,830 plus $4.00 for every $100 or part of $100 over $100,000 |
| Exceeds $200,000 but not $250,000 | $6,830 plus $4.25 for every $100 or part of $100 over $200,000 |
| Exceeds $250,000 but not $300,000 | $8,955 plus $4.75 for every $100 or part of $100 over $250,000 |
| Exceeds $300,000 but not $500,000 | $11,330 plus $5.00 for every $100 or part of $100 over $300,000 |
| Exceeds $500,000 | $21,330 plus $5.50 for every $100 or part of $100 over $500,000 |
QLD Price Brackets
| Property value | Stamp duty payable |
|---|---|
| $0 to $5,000 | Nil |
| $5,000 to $75,000 | $1.50 for each $100 or part of $100, over $5,000 |
| $75,000 to $540,000 | $1,050 plus $3.50 for each $100 or part of $100, over $75,000 |
| $540,000 to $1,000,000 | $17,325 plus $4.50 for each $100 or part of $100, over $540,000 |
| More than $1,000,000 | $38,025 plus $5.75 for each $100 or part of $100, over $1,000,000 |
WA Price Brackets
| Property value | Transfer duty rate |
|---|---|
| Up to $80,000 | $1.90 per $100 or part thereof |
| $80,001 to $100,000 | $1,520 plus 2.85% for every dollar over $100,000 |
| $100,001 to $250,000 | $2,090 plus 3.8% for every dollar over $100,000 |
| $250,001 to $500,000 | $7,790 plus 4.75% for every dollar over $250,000 |
| $500,001 and over | $19,665 plus 5.15% for every dollar over $500,000 |
NT Price Brackets
| Property value | Stamp duty payable |
|---|---|
| Up to $525,000 | Duty payable = (0.06571441 x V) + 15V, where V is 1/1,000 of the property’s dutiable value |
| $525,001 to $3,000,000 | 4.95% of the property value |
| $3,000,0001 to $5,000,000 | 5.75% of the property value |
| More than $5,000,000 | 5.95% of the property value |
Are There Any Exemptions?
Before preparing to spend thousands of dollars in tax, you may fall under eligibility for a stamp duty exemption if you’re purchasing a home for the first time or you’re a pensioner.
This exemption can come in the form of a First Home Owner grant, which several states offer to those purchasing a house for the first time under a certain price.
For example, those in Victoria are exempt from paying stamp duty under the first homeowner grant if the dutiable value of the property is up to $600,000. The duty concession applies where the dutiable value is more than $600,000 but not more than $750,000.
While you may be exempt from a stamp duty fee, this does not cover other home loan repayments and upfront costs, such as mortgage registration fees, transfer of land and other total government fees excluding loan amount and borrowing power.
For those who don’t qualify for a full exemption, there are still reduced rates up to 50% off for stamp duty. For more information on stamp duty exemptions, check out the First Home Owner Grant website here. Updated as of February 1, 2022
Stamp Duty Calculator
For any further questions about moving home as a whole, we’ve put together the ultimate guide to moving house, which you can check out here. If you’re looking to get an early start on maintaining your new home, check out our home maintenance checklist here.
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Disclaimer: This article is provided for general information purposes only. Its content is current at the date of publication. It is not legal advice and is not tailored to meet your individual needs. You should obtain specialist advice based on your specific circumstances before taking any action concerning the matters discussed in this article.
