StampDuty-Property-2

Stamp Duty Calculator

Posted April 2nd, 2014 and last modified September 29th, 2014

When purchasing a house you will most likely have to pay a tax called stamp duty. Find out more about this tax and if exemptions apply to you.

When you are looking to buy a home, you will be required to pay a variety of fees and charges upfront. One of these major costs is stamp duty; which is payable on nearly all home purchases. It is a tax that is charged by the government on the sale of property and shares and covers the costs of changing the title of the property and ownership details. By knowing how much you will have to pay in stamp duty, you can better plan for the expenditure of finalising the sale of your home.

The amount of stamp duty that you will be charged will be determined by the state or territory that you live in, the amount you pay for the home and the type of property that you are buying. Depending on your personal circumstances you may qualify for an exemption on stamp duty.


How much stamp duty will I have to pay?

The amount of government stamp duty that you will have to pay depends on a number of factors. These are :

  • What state or territory you live in.

    Some states will charge more stamp duty than others but most will be around the same amount.

  • The cost of the property.

    One of the major factors that will affect the amount of stamp duty that you pay will be the cost of the home that you bought. Generally, if you buy a home that is worth more than $500,000 then you will have to pay a lot of stamp duty.

  • The type of home you buy.

    The amount of stamp duty that you will be charged will be different depending on the type of home you buy. A vacant property will have less stamp duty charged to it when compared to buying a home.

Use the finder.com.au calculator below to help you work out how muuch exactly you need to pay.

Remember: Make sure you select the state you are buying when making your calculations.

Enter your details to speak with a Mortgage Broker
eChoice Home Loans

Are there any exemptions from stamp duty?

Government stamp duty can be a very large cost, however there are some exemptions that you will be able to apply for, depending on what state you live in. These include :

  • The value of your house.

    If you pay less than the threshold amount for your state you may find that the amount of stamp duty that you pay will be quite low. This is because people who are buying homes that are not worth as much will get exemptions from the full amount.

  • First home owners.

    If you are a first home owner then you may find that you can get exemptions from stamp duty. In some states, first home buyers will not have to pay stamp duty at all, while in others stamp duty will always be payable. However, if you use the first home owner’s grant to pay the stamp duty then you will technically not pay any stamp duty.

  • Pensioners and health card holders.

    If you currently receive Government benefits, you may be eligible for a concession or exemption. Check your local Office of State Revenue to find out if any apply to you.


How to find out if you’re exempt from paying stamp duty

There are a number of fees associated with the purchase of a home or property in Australia, including stamp duty. This is a separate tax charged by the local Office of State Revenue where the property is located and is meant to cover the administration cost of transferring ownership and changing the title for the property.

Stamp duty tax is not a pre-set amount, but rather determined by the state or province you are purchasing in, the cost of the property and its type. There are certain circumstances that may allow an individual to be exempt or to receive discounts from this tax. As stamp tax can be a major cost, it’s important to do your research to see if you can receive any exemptions or concessions.

It’s important that you consider the stamp duty tax when looking into making a home purchase, as it could end up saving a few thousand dollars off your upfront costs.

Find out the rates and any applicable exemptions and concessions for the location where you are planning to buy a home and make sure you can afford this extra charge before making a commitment to a mortgage.


How to avoid paying stamp duty

As you've already seen, paying stamp duty can significantly increase the cost of your home. However, there are steps you can take to avoid paying stamp duty or at least significantly decrease the amount you pay, which can save you a lot of money.

Consider that the rate of stamp duty you will pay increases according to the value of the property you are purchasing.

Thus, you should consider negotiating to decrease the value of the property to below a certain threshold to avoid paying a larger tax if the difference isn't too great.

If you are building a house, think of reducing the costs by purchasing cheaper fixtures, for example. Lowering the cost of building your home by a few thousand dollars can save you thousands more in taxes.

Stamp duty is significantly greater in most states on properties worth more than $500,000, so consider purchasing a home below this value to save money. Similarly, vacant properties over $300,000 will incur a much higher stamp duty so try to look for properties below this threshold.

Don't forget that in some states you will be charged on the market value of the property rather than the purchase price, so take this into consideration when negotiating. You might not necessarily be able to reduce the stamp duty you are being charged but you may be able to come to an agreement with the seller so that you can negotiate the price of the property down by at least the amount of stamp duty you need to pay.

If it's an option, you can also consider relocating to another state where stamp duty is significantly lower or, if you are a first time home buyer, where you are completely exempt from paying stamp duty. Also, make sure to fully inform yourself regarding any other concessions you might be eligible for.

Since stamp duty can be a significant cost, minimising how much you pay can help you in the long run. The money you save can be put towards paying off the loan, which will save you money on interest costs as well or it can be used to make renovations. You need to remember that it does pay to do your due diligence and see what other options are available to you to reduce the amount of stamp duty you have to pay.


Do I have to pay stamp duty on a loan I am refinancing?

In most cases you will have to pay stamp duty again even if you are refinancing. However, there are situations in which you can avoid paying stamp duty. For example, if the names of the borrowers are the same and the amount of the loan is the same, there might be a chance you could avoid paying stamp duty. In some cases, you might also have to refinance with the same lender to avoid this cost.

Note that in some situations you may have to pay the fees but you can then apply for a refund from the lender. Thus, it pays to make sure you do your research before deciding to refinance because any savings you incur from a lower rate might be completely obliterated if you have to pay stamp duty again. In this case, refinancing may simply not be worth the hassle.


How do I budget for the stamp duty costs on my new home?

stamp-cal

Budgeting for stamp duty costs when purchasing a new home requires a bit of research. First and foremost, you have to consider approximately how much you will be paying for the property and what state you are making the purchase in. This is because in some states, the market value of the property will supersede the purchase price if it is higher. Also consider whether you will be paying stamp duty on your loan or not, since this will mean that you have to pay it upfront.

The easiest way to get an idea of how much your stamp duty will cost you is to use a stamp duty calculator. While the figure won't be exact, it will still provide enough of a guideline for you to create a budget. On the other hand, if you want an exact figure, you can ask a professional to calculate the cost of this tax for you as he or she can take into consideration your personal circumstances.

Don't forget that in some states and some situations you might be exempt from paying stamp duty so make sure to do your research thoroughly.


How do I pay my stamp duty?

Paying stamp duty is not all that difficult, as long as you have the funds available. You will generally receive a notice through the mail to the address of the property you have purchased or a specified address if you chose a different mailing address. The letter will contain all the information regarding this tax, including the amount you need to pay.

In terms of when it needs to be paid, each state differs, but on average you will have about three months to make the payment in full. Note that you can't avoid paying it and if you are late, you will incur interest charges and other costs since you won't be able to complete the transaction.

Physically paying the tax is usually a matter of depositing the money in the account provided in the letter. You can do this via direct deposit, bank transfer, cheque or credit card. You don't need to worry, though, because all the payment options will be mentioned in the letter.


Top tips for home loan stamp duty

stamp-home

Here are a few tips to take into consideration to ensure the settlement process goes smoothly for both parties and unnecessary delays are avoided, which also means saving money in the long run.

Buyer tips

  • When composing the Offer and Acceptance, you need to be very specific with the Special Conditions. This means stating exactly what the condition is, who is responsible for its payment, by when the condition must be met at the latest and what the consequences will be if it is breached.

  • Note that banks generally require around 21 days to process approve your loan from when you submit your application so take that into account and make sure you allow plenty of time.

  • Banks also need 28 days from when you receive unconditional approval to release the money for the final settlement.

  • In terms of stamp duty, you will need to give seller a stamped Transfer of Land to be signed to be in full compliance with the Joint Form of General Conditions for the Sale of Land. If you don't have the funds available, advise the bank that you need the money to pay stamp duty before settlement because you will find that most lenders will be willing to help you with this to make sure you meet your obligations.

  • To expedite matters and avoid settlement delays, it is essential that you attend the signing and make sure all documents are returned as quickly as possible.

  • Make sure that you let your Settlement Agent know if you are not going to be present at any point during the settlement.

Seller tips

  • Read the Offer and Acceptance thoroughly and make sure you have understood every condition stated on it because if anything hasn't been fulfilled, there is a good chance settlement will be delayed.

  • It takes the bank 21 days to prepare the documentation to discharge your mortgage after the relevant form has been filed so make sure to let them know you will be discharging your mortgage in advance.

  • If you receive a rates notice for the adjustment of rates, which can occur during settlement, make sure your Settlement Agent receives the document as soon as possible.

  • If the title deed is in your possession because the property isn't being used as security, you will need to make sure you have it available. If you can't find it, speak to your Settlement Agent to resolve the issue as quickly as possible to avoid any delays.

  • Make sure you are present at the signing and that all documents are returned as quickly as possible to avoid unnecessary delays and inform your Settlement Agent if there is a chance you might be away during any stage of the settlement process.


Divorce and stamp duty

Stamp duty isn’t payable if one of you is transferring the title to a home or land to another. However, you can only save on stamp duty if the transfer is done so you can obey a court order. The court must be able to know what assets are owned by each of the parties. This includes all of your assets like land, bank accounts and superannuation. It may be necessary to hire an expert to value an asset.

It’s important to know that parenting is seen as a very important contribution. If the marriage has been a long one, it is often seen as equal to financial contributions. Usually, the court gives the party whose financial future is not as good as the other some extra part of the property owned by the parties.

If you are looking to buy a property in Australia then you should know how much government stamp duty you will have to pay. If you are buying a property then you should also find out if you are exempt from paying the stamp duty in any way as you will be able to save a lot of money if you are able to avoid paying the duty.


Frequently asked questions

When do I pay stamp duty if I'm buying a home?

Generally, you will find that stamp duty is included in the purchase price of the home you are buying. For example, if you are buying a home for $300,000 and the stamp duty in your state is $7,500, then the actual purchase price of the home is $307,500. This means that basically, you will be paying stamp duty when you settle the transaction.

Note, though, that if you've decided to build your home, you can save a fair amount on stamp duty because you will only pay it once, when you purchase the land. When you start building the home, you won't have to pay stamp duty again and since the price of the land will generally be lower than purchasing an established home, you can save quite a bit on this tax.

When do I pay stamp duty on my loan?

Stamp duty is payable up front when you are applying for a loan, exactly like the deposit and application fee. So, you need to make sure you do your calculations properly in advance to make sure you have enough cash available to have the loan and sale processed. Some recommend that you allow a minimum of 10% of the purchase price besides your deposit for things to go smoothly but the best approach is to consult a professional and have everything calculated in advance just to make sure you don't need more since there are also other fees involved.

When is stamp duty payable?

Stamp duty is payable in a number of situations. For example, stamp duty may have to be paid if you are selling or buying a larger item such as a car or boat.

Of course, you will also have to pay stamp duty when purchasing a home, so you need to be prepared since it can be a fairly high tax.

Stamp duty is also payable when a property is transferred from one person to another. Most people only associate this tax with an actual sale of property but it is payable even if there is a simple transfer. A transfer refers to a property being given by one person to another without any funds being exchanged.

For example, if a married couple gets a divorce and one person becomes the owner of the property, this is known as a transfer of property. Likewise, if the property passes to a person as an inheritance after the death of a relative, this is also considered a transfer of property. In both cases, stamp duty will be charged when the property is transferred and will be calculated based on the market value of the property in question.

There are certain exceptions, though, where property transfers will not be charged stamp duty. There are some situations in which the de facto partner or spouse receives the property via a divorce in which they won't be charged tax. Additionally, stamp duty will not be charged if joint tenants transfer the property to tenants in common in equal shares or the latter transfer the property to the original joint tenants.

When it comes to property transfer, it's best to check with a professional to ensure whether or not you have to pay stamp duty and exactly how much you will need to pay.

Are there any exemptions from stamp duty?

While stamp duty is a pretty hefty cost for anyone purchasing a property, there are certain exemptions you may be eligible for. In certain states, if the purchase price or value of your property is below a certain level, you might find that you can enjoy a relatively low rate as you will get an exemption because you are purchasing a low value property.

Also, in many states, if this is the first home you are buying, you can get certain exemptions.

In some areas you will be able to avoid paying stamp duty completely while in others you will receive a discount. However, some states offer a first home owner's grant which can be used to pay the stamp duty instead of waiving the fee completely. So, if you are eligible for the grant and you use it to pay stamp duty, it's basically like not paying this tax at all.

How is the stamp duty Exemption Act applied?

If are purchasing a home or a property in Australia, you can expect to pay stamp duty. However, depending on your personal circumstances, the value of the property and the type of property, there are situations in which you may be exempt from paying this tax.

For example, in New South Wales, if you are purchasing your first property and it's worth less than $500,000, then you won't have to pay this tax. This also applies to properties worth less than $350,000.

In Victoria, you are exempt from paying stamp duty in the following circumstances:

  • If you are an elderly citizen with a pensioners card

  • If you are a first time home buyer with a family

  • If the property will be used as your principal residence

  • If you are buying a farm that you will be using for primary production

In Queensland, properties purchased as gifts, that are transferred from one owner to another or will be used as the principal place of residence are not subject to stamp duty. Additionally, stamp duty will be waived in the case of a change of tenure or the purchase of a manufactured home.

In South Australia, only homes worth less than $80,500 are exempt from stamp duty while in Western Australia, you will have to pay this tax regardless.

In the Northern Territory, you are eligible for stamp duty exemption if the property was received as a settlement in full or in part, if it is a farm that will be used for primary production or if it is a family home in joint names.

While there are no exemptions on stamp duty in the Australian Capital Territory, you will only have to pay $20 for properties worth less than $349,800.

As a Tasmanian resident, you are exempt from this tax if you received the property as a result of transfer between partners or if you have become the owner of it after a divorce or relationship breakdown.

How do I budget for the stamp duty costs on my new home?

Budgeting for stamp duty costs when purchasing a new home requires a bit of research. First and foremost, you have to consider approximately how much you will be paying for the property and what state you are making the purchase in. This is because in some states, the market value of the property will supersede the purchase price if it is higher. Also consider whether you will be paying stamp duty on your loan or not, since this will mean that you have to pay it upfront.

The easiest way to get an idea of how much your stamp duty will cost you is to use a stamp duty calculator. While the figure won't be exact, it will still provide enough of a guideline for you to create a budget. On the other hand, if you want an exact figure, you can ask a professional to calculate the cost of this tax for you as he or she can take into consideration your personal circumstances.

Don't forget that in some states and some situations you might be exempt from paying stamp duty so make sure to do your research thoroughly.

How much stamp duty will you pay?

The amount of stamp duty you will pay depends on the type of property you are purchases as well as your status. Rates vary across the country and can change quite often, depending whether or not the state governments are trying to encourage people to purchase homes. Generally, the rates are based on a sliding scale, with percentages increasing according to the value of the property.

Note that you might be eligible for an exemption or a discount depending on the area you live in and the type of property you are buying as well as your status. For example, in some states, first time home buyers will be fully exempted from paying stamp duty while in others senior citizens are exempt or receive a discount.

It pays to check that your information is up to date before trying to figure out how much stamp duty you will have to pay.

When will you have to pay stamp duty?

You usually have to pay stamp duty right before settlement to avoid delays but generally not longer than three months after the contracts are exchanged to avoid paying interest charges. Note, though, that in New South Wales, you will have to pay the tax as soon as the contracts are exchanged.

However, in other areas things aren't quite as strict. Thus, if settlement is approximately six weeks from when contracts are exchanged, you should pay the tax two weeks before that to avoid any delays in the transaction going through. If settlement is longer than six weeks, you don't have to pay it quite so early but you should do it within three months of the date of exchange or you will end up paying interest.

If you aren't taking out a loan to purchase the property, you should pay your stamp duty within three months of the exchange to avoid paying interest. In the case in which you are buying an off the plan residential unit, stamp duty needs to be paid within 12 months or when the contract is completed, whichever is earlier.

In terms of commercial units, if you are buying an off plan one that is subject to subdivision, you will need to pay within three months of contract exchange to avoid interest. Note that if you don't pay on time, you won't be able to register your title and the transaction will fall through. The result is that you are liable to lose your deposit and have to pay late settlement penalties.

How do I pay my stamp duty?

Paying stamp duty is not all that difficult, as long as you have the funds available. You will generally receive a notice through the mail to the address of the property you have purchased or a specified address if you chose a different mailing address. The letter will contain all the information regarding this tax, including the amount you need to pay.

In terms of when it needs to be paid, each state differs, but on average you will have about three months to make the payment in full. Note that you can't avoid paying it and if you are late, you will incur interest charges and other costs since you won't be able to complete the transaction.

Physically paying the tax is usually a matter of depositing the money in the account provided in the letter. You can do this via direct deposit, bank transfer, cheque or credit card. You don't need to worry, though, because all the payment options will be mentioned in the letter.



Join in the Forum Discussion on:

Stamp Duty

Marc Terrano

A passionate publisher who loves to tell a story. Learning and teaching personal finance is his main lot at finder.com.au. Talk to him to find out more about home loans or savings accounts.

Was this content helpful to you? No  Yes

Ask a Question

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

110 Responses to Stamp Duty Calculator

  1. Default Gravatar
    Brian | September 25, 2014

    If my wife and her sister get their names put onto their mothers deeds to her house will they have to pay stamp duty? The house is in Queensland. Their mother is on a pension and will be moving into a nursing home in the near future.

    • Staff
      Shirley | September 26, 2014

      Hi Brian,

      Thanks for your question.

      Unfortunately if they intend to share titles on the property then stamp duty could be payable. There are a few exemptions and concessions in place – please see this page for more info.

      However, if they are to inherit the property, there is another tax called capital gains tax that could be payable. To see if any exemptions could apply, you may need to speak to an accountant.

      Cheers,
      Shirley

  2. Default Gravatar
    Phil | September 23, 2014

    Hi,
    My partner and I have inherited half of a property in NSW.
    The property value is $900,000.
    We intend to buy out the remaining half and live in the residence.
    Does stamp duty apply? If so on the total value or the value we are buying out?
    Thanks

    • Staff
      Shirley | September 26, 2014

      Hi Phil,

      Thanks for your question.

      While stamp duty doesn’t apply to inherited property, capital gains tax may apply. Generally the capital gains tax will apply to the value that you inherited (please see this page for more info).

      Please get in touch with your trusted accountant or conveyancer regarding this.

      Cheers,
      Shirley

  3. Default Gravatar
    JOHN | September 22, 2014

    does Stamp Duty apply to both buying and selling REAL ESTATE

    • Staff
      Shirley | September 23, 2014

      Hi John,

      Thanks for your question.

      Generally stamp duty isn’t payable when you sell a property, but in most cases it’s payable when you buy a property.

      Cheers,
      Shirley

  4. Default Gravatar
    Paul | September 19, 2014

    My brother and I inherited 50/50 share of family home and shares. Home $1.3 mil and shares $800,000. My brother can keep the shares and I want to buy him out and keep the home so will get a mortgage for the difference $250,000 in the home and give to my brother. I have never taken out a previous mortgage or bought property. Do I still pay stamp duty as this will be a mortgage on my first property.

    • Staff
      Shirley | September 22, 2014

      Hi Paul,

      Thanks for your question.

      Some first home buyers receive a stamp duty exemption or concession, depending on which state you live in. As an inherited property, there may be some exemptions in place too.

      I’d recommend that you visit your local Office of State Revenue’s website to see which exemptions/concessions apply to you.

      All the best,
      Shirley

  5. Default Gravatar
    John | September 16, 2014

    Does a person buying a residential apartment in nsw off the plan pay stamp duty within six months of the exchange of contracts. Or is that person liable to pay stamp duty when the building is completed and the balance of purchase price is paid.

    • Staff
      Shirley | September 16, 2014

      Hi John,

      Thanks for your question.

      The rules are different state by state. For example, in NSW, a sale of transfer of land (including land that you intend to make improvements on) is generally liable for stamp duty.

      Please see below the section I’ve taken from their website,
      “When purchasing property that is ‘off the plan’ the duty is required to be paid within three months of;
      - The completion of the agreement
      - The assignment of the whole or any part of the purchaser’s interest under the agreement
      - The expiration of 12 months after the date of the agreement, whichever occurs first.”

      Cheers,
      Shirley

  6. Default Gravatar
    lee | September 16, 2014

    could you tell me is it true as a married couple as a one of time you can change a property from two names to one at no cost or for a dollar without paying stamp duty

    • Staff
      Shirley | September 16, 2014

      Hi Lee,

      Thanks for your question.

      Generally if you’re transferring a property from two names to one because of a relationship breakdown, then stamp duty isn’t payable. If it’s for another reason, stamp duty is usually payable.

      For more information, please visit your local Office of State Revenue’s website to see what exemptions could apply to you.

      Cheers,
      Shirley

  7. Default Gravatar
    Bianca | September 12, 2014

    Hi If I purchase a block of land but won’t begin to build on it for a year will I need to pay stamp duty on the block then on the build? Im in SA

    • Staff
      Shirley | September 15, 2014

      Hi Bianca,

      Thanks for your question.

      On the SA Office of State Revenue website it states that, “all transfers of land are subject to duty on the instrument of transfer based on the value of the land (including improvements) or the consideration (including GST) whichever is greater (unless an exemption or concession applies).”

      ‘Including improvements’ refers to the construction that you may intend to build on the land. For more information, please speak to your local Office of State Revenue.

      All the best,
      Shirley

  8. Default Gravatar
    Janine | September 11, 2014

    Do I have to pay stamp duty, when I buy into a house with the owner of the home.
    We are not a partnership, however, it is my home, and I paid off the mortgage (which is 50/50) now.
    I want my name on deeds too, but not if I have to pay $9-10,000, stamp duty.

    Please advise.
    I am also now on Newstart Allowance.
    Age 63

    • Staff
      Shirley | September 12, 2014

      Hi Janine,

      Thanks for your question.

      If you’re sharing titles on a property and the property is to be your matrimonial home, then stamp duty is generally exempt.

      However, in other cases, stamp duty is most likely payable. If you’d like, you can check your local Office of State Revenue’s website to see if any concessions apply to you.

      Cheers,
      Shirley

  9. Default Gravatar
    kiara | September 11, 2014

    can my sisters disclaim a property and leave it all to me. without me having to pay stamp duty on the inheritance?

    • Staff
      Shirley | September 12, 2014

      Hi Kiara,

      Thanks for your question.

      Generally if your transferring property ownership to a family member, the person obtaining the property is required to pay stamp duty.

      Cheers,
      Shirley

  10. Default Gravatar
    Joel | September 9, 2014

    Not sure if this question has been asked or answered yet.

    I’m looking to buy a property shortly for between 450-500,000 and it appears we meet all eligible requirements for FHOG and Stamp Duty Reductions etc.

    With the 50% reduction in duty payable which has just come into VIC, can this be applied prior to settlement or do I have to front up to settlement with the full amount of duty and lodge the form afterwards to get a refund?

    • Staff
      Shirley | September 10, 2014

      Hi Joel,

      Thanks for your question.

      You’ll need to submit a declaration to your local Office of State Revenue to be eligible for the discount. I’d assume that the discount is upfront, but it’s good to confirm this with your conveyancer.

      Please see the page that I’ve emailed you, towards the bottom.

      Cheers,
      Shirley

  11. Default Gravatar
    Janice | September 7, 2014

    Could I ask the seller to pay the stamp duty rather than him accepting a lower offer on the price of the house to reduce my outlay. First time buyer in SA.

    • Staff
      Shirley | September 8, 2014

      Hi Janice,

      Thanks for your question.

      You can ask the seller to pay stamp duty on your behalf, though it’s recommended that you have a legal arrangement in place.

      It’s also a good idea to speak to your agent about this arrangement.

      Cheers,
      Shirley

  12. Default Gravatar
    Donna | September 6, 2014

    If the land is in your husbands name but the loan is in both names. Will I have to pay stamp duty to be put in my name only. We have been married for 14 years

    • Staff
      Shirley | September 8, 2014

      Hi Donna,

      Thanks for your question.

      If your husband wishes to transfer the title of the property/land to your name online, then the person obtaining the property/land is generally liable for stamp duty.

      If you both share titles on a property, stamp duty is usually not payable if the property is to be your matrimonial home.

      Hope this helps,
      Shirley

  13. Default Gravatar
    daina | August 31, 2014

    If a settlement date is not specified as it is to coincide with the sale of the purchasers house, how much time does the purchaser have to pay stamp duty? eg if the settlement takes place 6 months after signing the contract is that when stamp duty is payable?

    • Staff
      Shirley | September 1, 2014

      Hi Daina,

      Thanks for your question.

      Stamp duty is generally due within 30 days of settlement of the property.

      Cheers,
      Shirley

  14. Default Gravatar
    Linda | August 29, 2014

    Due to lack of finance my partners name needs to come off a new contract in the Northern Territory.

    Will we be charged extra Stamp Duty to remove their name from the contract to me owning 100%?

    Thanks.

    • Staff
      Shirley | September 1, 2014

      Hi Linda,

      Thanks for your question.

      Generally stamp duty is liable if you transfer the property between family members. There are few exceptions to this, including a marriage breakdown, or the property is a gift.

      Please note that the person receiving the property is liable to pay stamp duty.

      All the best,
      Shirley

  15. Default Gravatar
    Jamie | August 28, 2014

    Hi, I like to know how much stamp duty should I pay if this existing house is transferred into my name by the way of gift from my son. Am I entitled to First Home Concession in QLD? The house is valued at $520000. The house will be my primary resident and I am the 1st home owner.

    • Staff
      Elizabeth | August 28, 2014

      Hi Jamie,

      There are a few requirements you’ll need to meet in order to be eligible for the First Home Concession in Queensland. You’ll need to have never held an interest in residential land anywhere in the world, have never claimed the first home vacant land concession, need to be buying a home valued under $550,000
      and you need to live in the home as your principal place of residence. You meet the final two requirements so it’s the first two you’ll need to check.

      As for the amount of stamp duty you’ll have to pay, A $8,750 stamp duty concession applies for homes up to $505,000, and a phasing-out rebate applies for values up to $550,000. For more information on your eligibility and how much you will pay you can get in contact with the QLD Office of State Revenue.

      Hope this has helped.

      Thanks,

      Elizabeth

  16. Default Gravatar
    Pete | August 23, 2014

    I have a property that I bought several years ago with a friend 50%-50% (he is not a relation at all)Now he has gone bankrupt & I can buy his share of the property from the bankrupt estate trustee for 82K even though the property is valued at $425k ,which I own 50% of , Question , how much stamp duty is payable by me to get property wholly into my name paying the $82K

    • Staff
      Elizabeth | August 25, 2014

      Hi Pete,

      Thanks for your question.

      The stamp duty you pay and how it is calculated will depend on the state you are in. Although generally, when transferring property, the value of the property is used to calculate the stamp duty payable. So, in this case, it would be $425,000.

      Thanks,

      Elizabeth

  17. Default Gravatar
    corrie | August 20, 2014

    Is the stamp duty then payable on only 50% of the property vlue?

    • Staff
      Elizabeth | August 21, 2014

      Hi Corrie,

      Thanks for your question.

      Stamp duty will be payable on the full market value on the property.

      Thanks,

      Elizabeth

  18. Default Gravatar
    corrie | August 20, 2014

    My sister and i bought a house in both names in 2001 (in vicotria). I now want to remove my name from the title as I moved out when i married 5 years ago. will we need to pay stamp duty to remove my name from the title?

    • Staff
      Shirley | August 20, 2014

      Hi Corrie,

      Thanks for your question.

      Generally if you need a name to be removed from the title to your property for reasons other then a marriage breakdown, stamp duty is payable.

      Cheers,
      Shirley

  19. Default Gravatar
    lyn | August 17, 2014

    Im looking am looking at buying off the plan. Will my stamp duty payable be different if I buy in melbourne versus sydney versus brisbane??
    Thanks

    • Staff
      Marc | August 18, 2014

      Hi Lyn,
      thanks for the question!

      Each state in Australia has slightly different rules and rates when it comes to stamp duty and the amount you pay. There are also different concessions available to different types of buyers. The calculator on this page shows the different amounts of stamp duty payable for different purchases. If you type in the property price it will give you different rate amounts for each state.

      I hope this helps,
      Marc.

  20. Default Gravatar
    Trudy | August 12, 2014

    I have found a property i am interested in buying.
    It will be my principal place of residence.
    However, Before i can move in, there is a lease in place that needs to be honoured.
    It expires at the beginning of January. The tenants will remain three months after settlement.
    What are the QLD stamp duty implications?

    • Staff
      Shirley | August 13, 2014

      Hi Trudy.

      Thanks for your question.

      There shouldn’t be any stamp duty implications. Please keep in mind that there is a due date for the stamp duty, so you may need to pay this before you actually move into the property.

      Cheers,
      Shirley

  21. Default Gravatar
    | August 11, 2014

    How do avoid paying NSW stamp duty when we transfer our property held in our Limited Company into our personal names?

    MEANING: We own a residential home held in our Company’s name and we want to transfer the property into our personal names – as we own the property is it fair transferring the property from us to us should attract Stamp Duty.

    Regards
    Phil.

    • Staff
      Shirley | August 11, 2014

      Hi Phil,

      There are number of concessions and exemptions that you may be eligible for.

      Please check on your local Office of State Revenue website for a list that is relevant to your State.

      For example, in QLD “you can claim a home concession if you:
      -buy a home and move into it within 1 year of the date of transfer or acquisition
      -live in the home as your principal place of residence.”

      All the best,
      Shirley

    • Default Gravatar
      | August 11, 2014

      Hi Shirley

      YOU SAID..
      For example, in QLD “you can claim a home concession if you:

      -buy a home and move into it within 1 year of the date of transfer or acquisition
      -live in the home as your principal place of residence.”

      I have had a look at the site and couldn’t find the concession you referred to for QLD – would you be able to clarify if the property is located in NSW can we claim a home concession if we – Live in the home as your principal place of residence?

      Regards
      Phil.

    • Staff
      Shirley | August 12, 2014

      Hi Phil,

      I’ve emailed you the link from the Queensland Office of State Revenue that has this information. Please check at your convenience.

      All the best,
      Shirley

  22. Default Gravatar
    ian | August 9, 2014

    i own my house but ti tle is in my sons name i now wish to have title changed to my name i am a pensioner with the approp concession cards can u please advise if i have to pay s/d house is valued at approx 400,000

    • Staff
      Shirley | August 11, 2014

      Hi Ian,

      Thanks for your question.

      Would you be able to let me know which state you reside in please? Each state has their different laws regarding concessions and pensioners.

      Cheers,
      Shirley

  23. Default Gravatar
    arun | August 8, 2014

    what is the stamp duty if one partner of 50% share of flat situated in baddi himachal pardesh India want totransfer in the name of other 50% share partner

    • Staff
      Shirley | August 8, 2014

      Hi Arun,

      Unfortunately finder.com.au is an Australian comparison website.

      For information about stamp duty in India, please visit the relevant website from the Indian Government.

      All the best,
      Shirley

  24. Default Gravatar
    Emily | August 6, 2014

    We have been residing in a house we bought in QLD for 8 months but are now looking to sell it as we have bought another house. Will we have to pay extra stamp duty and and if so is the 12 months of house ownership from the settlement date or the date the contract was signed for the sale?

    • Staff
      Shirley | August 7, 2014

      Hi Emily,

      Generally stamp duty is payable when you purchase or move into a new property. The 12 month of house ownership starts from when the contract was signed.

      All the best,
      Shirley

  25. Default Gravatar
    Mrs | August 4, 2014

    My brother owned a house n he wants to gift me that in a way of giftdeed,how much stamp duty i will have to pay on that ? Its in india

    • Staff
      Marc | August 5, 2014

      Hello Mrs Sharma,
      thanks for the question.

      Unfortunately we’re not able to give general advice regarding stamp duty in India, as we currently only provide information on Australian stamp duty. I recommend conducting a web search of Indian stamp duty rules to get some accurate information or contact an expert.

      Cheers,
      Marc.

  26. Default Gravatar
    Little | August 2, 2014

    If I am looking at purchasing a property which I intend to be my primary residence within 12 months, but it currently has tenants in the property and will have them during and post settlement do I still pay the Transfer Duty as tho it were an investment property? This property will not be an investment property – I will be moving into it….but I was told that it may still be considered an investment?

    • Staff
      Shirley | August 4, 2014

      Hi Little T,

      Transfer duty is generally payable for both main residences and investment properties. There are some concessions in place but that generally applies to FHBs and pensioners.

      Please speak to your local OSR about your specific situation, they will be able to give you an informed answer.

      Cheers,
      Shirley

  27. Default Gravatar
    Rob | July 28, 2014

    Hi,

    I’m from NSW. My brother and I bought a house together in 2011. This property is under my name and my brother name. It’s not an investment property. It our primary residency.

    Now I decide to remove my name off the title of the property. My brother will take over the property. The question is will my brother have to pay stamp duty?

    Thank you.

    • Staff
      Shirley | July 28, 2014

      Hi Rob,

      Thanks for your question.

      Generally the person obtaining the property is liable for stamp duty.

      However, it’s best that you confirm this with your OSR or conveyancer as there could be some exemptions.

      Cheers,
      Shirley

  28. Default Gravatar
    | July 26, 2014

    Hi,
    Are there any stamp duties on house that was bequeathed to a son before death and/or after death of the person be bequeathing the property?

    Thank you,
    Paul

    • Staff
      Marc | July 28, 2014

      Hi Paul,
      thanks for the question.

      In most cases stamp duty is not payable in this situation, although it depends on the will and how the transfer document was drawn up, so I’d recommend contacting your relevant state office of revenue.

      I hope this helps,
      Marc.

  29. Default Gravatar
    Mihir | July 25, 2014

    Hi Marc & Shirley,

    I live in Melbourne, Victoria. I have purchased a land in west and the settlement is in October; First home buyer. My question is regarding Stamp Duty. Does the Stamp Duty calculated on basis of Vacant Land Price or does it depend on Land + Building price? I know its bit of novice question but I couldn’t get a proper answer anywhere. Thanks for your help.

    • Staff
      Marc | July 28, 2014

      Hi Mihir,
      thanks for the question.

      Stamp duty is calculated using the land and buildings, and is based on the market value of the property or the property price – whichever is greater.

      I hope this helps,
      Marc.

  30. Default Gravatar
    Ken | July 24, 2014

    Hi.

    We have purchased a proprty that we can take possession on around the 15/9/14
    We have a settlement date of the 31/6/15 , iknow we have to pay stamp duty and are faced with two options
    Pay out our savings when due or pay late and have fees and interest charged
    If we pay late do we notify the OSR or wait till they contact us

    • Staff
      Shirley | July 25, 2014

      Hi Ken,

      Thanks for your question.

      There could be some fines involved with paying your stamp duty late.

      It could be best to notify the OSR first to see if they can give you an any exemptions.

      Cheers,
      Shirley

  31. Default Gravatar
    Sammy | July 22, 2014

    Hello

    My partner and I have lived in my property since May 2012 and married last month.

    I want to add his name to the title, this is our marital home. Would we have to pay additional stamp duty?

    Where can I find more information about this?

    Thanks in Advance

    • Staff
      Shirley | July 22, 2014

      Hi Sammy,

      Thanks for your question.

      Generally stamp duty is not payable if the property is to be your matrimonial home.

      You can find more information about this from your local Office of State Revenue and their official website.

      Cheers,
      Shirley

  32. Default Gravatar
    Damien | July 21, 2014

    Hi,

    My wife and I are considering building a home with her parents. We believe there could be tax implications depending on how we go about it. We will buy the land and the in-laws will contribute to the cost of the home. I’ve been reading about tenants in common and believe this may be the best way to go? If we do this can we both claim the property as our primary residence. are there any other implications?

    Cheers

    • Staff
      Shirley | July 22, 2014

      Hi Damien,

      Thanks for your question.

      Unfortunately we can only provide general advice, and can not provide specific legal or tax advice.

      Please speak to a solicitor or a tax specialist regarding this.

      Cheers,
      Shirley

  33. Default Gravatar
    Bronwyn | July 8, 2014

    Do I pay stamp duty when purchasing land only?

    If so, how much on a block of land worht $500,000 in Lysterfield,Victoria?

    • Staff
      Shirley | July 8, 2014

      Hi Bronwyn,

      Thanks for your question.

      Unfortunately stamp duty is payable on all transfers of land.

      Please use our stamp duty calculator to give you an indication of costs.

      Cheers,
      Shirley

  34. Default Gravatar
    jon | July 7, 2014

    Hi, we’ve agreed and signed to purchase a property on the 18th of june but we have a settlement date of the 14th of august. we know the stamp duty rate changed in wa on the 3rd of july, which rate would we pay?

    • Staff
      Shirley | July 7, 2014

      Hi Jon,

      Thanks for your question.

      Generally if you entered into a contract to purchase the home on or before 30 June 2013, then the stamp duty rules for the financial year 2013-14 apply.

      If you entered into the contract after that date, then the stamp duty rules for financial year 2014-15 apply.

      Please confirm this with your local Office of State Revenue.

      Cheers,
      Shirley

  35. Default Gravatar
    CM | July 7, 2014

    Our primary residence is under the name of my husband and myself. We are separating and my name will be left on the title and my husband’s name taken off. Does this have to be done prior to putting in the divorce papers to save stamp duty? The property maybe over 750,000/-

    • Staff
      Shirley | July 7, 2014

      Hi CM,

      Thanks for your question.

      Generally you’ll need the binding financial agreements or court orders that entitle you to claim exemption from transfer duty of property being transferred from one to the other before you actually claim for the stamp duty exemption.

      Your lawyer or solicitor can organise these for you.

      Cheers,
      Shirley

  36. Default Gravatar
    Chook | July 5, 2014

    I signed the offer and acceptance forms prior to the 24th of June 2014 but am waiting for probate to issue on the property I am buying. Will the duty be calculated from this period or will I be subject to the new rates applied as of the 3rd of July? If so it will cost me $2000 instead of zero

    • Staff
      Shirley | July 7, 2014

      Hi Chook,

      Thanks for your question.

      Generally if you entered into a contract to purchase the home on or before 30 June 2013, then the stamp duty rules for the financial year 2013-14 apply, so it’s likely you won’t need to pay the new rates.

      If you entered into the contract after that date, then the stamp duty rules for financial year 2014-15 apply.

      Please confirm this with your local Office of State Revenue.

      Cheers,
      Shirley

  37. Default Gravatar
    Linda | June 28, 2014

    I am on a disability support pension and am in the process of selling my house and buying a new one. There will not be a mortgage and the property I am purchasing is $172,000. It will be my primary residence. I am not sure if I have had a stamp duty exemption before or not. How do I find out if I am eligible.

    • Staff
      Marc | June 30, 2014

      Hi Linda,
      thanks for the question.

      I’d recommend contacting your state office of revenue to find out if you’re eligible. If you let me know which state you’re in I can find you the relevant page.

      Cheers,
      Marc.

    • Default Gravatar
      | June 30, 2014

      I am in Victoria.

    • Staff
      Shirley | June 30, 2014

      Thanks Linda.

      Please check your inbox for the link regarding Stamp Duty in Vic.

      Cheers,
      Shirley

  38. Default Gravatar
    Kirsten | June 27, 2014

    Hello, my sister and I inherited our mum’s property – 13 acres in SE Qld with a hut undergoing extension on it, when she died at the end of last year.
    Since the end of 2010 myself and my de facto have been living on the property with mum and have put considerable investment into extending the housing, installing solar power etc. Although mum was in the process of investigating how to give us legal recognition for our investment (eg putting us on the title), she died before she could work out how to best do this.
    My sister has said she is happy for us to buy her out of her share for what the land is worth, (rather than the improved property, as she recognises our financial input and does not want to have to pay for any of the improvements).
    Will James and I have to pay stamp duty on the transfer of her share?
    We live in Qld.

    • Staff
      Shirley | June 27, 2014

      Hi Kirsten,

      Thanks for your question.

      Stamp duty is generally not payable when you remove someone off the title of the property. However, if you add another person to the title of the property, then stamp duty may be payable depending on the circumstances.

      It’s best to confirm this with your local Office of State Revenue.

      Cheers,
      Shirley

  39. Default Gravatar
    Rosalind | June 19, 2014

    Hello, I am buying a house as a primary residence for $450 000. It is the first home I am buying in QLD but I have owned property before in South Africa. Will I have to pay stamp duty?

    • Staff
      Shirley | June 20, 2014

      Hi Rosalind,

      Thanks for your question.

      You may exempt for stamp duty, as this is your first property in Australia.

      Please confirm with this with your local Office of State Revenue.

      Cheers,
      Shirley

  40. Default Gravatar
    Cathy | June 15, 2014

    My son wants to add my name in his principal home. Do I need to pay stemp duty?

    • Staff
      Shirley | June 16, 2014

      Hi Cathy,

      Thanks for your question.

      It’s likely that you may be liable for stamp duty. Unfortunately Stamp duty is generally exempt if the property is to be a matrimonial home.

      However, you can confirm this with your local Office of State Revenue.

      Cheers,
      Shirley

  41. Default Gravatar
    Kitty23 | June 12, 2014

    I’m looking to buy my first home and get the 40% reduction on stamp duty. However, my dad will be helping with the purchase (50/50). It won’t be his first home, will I still be eligible for the reduction on my portion of the loan?

    • Staff
      Shirley | June 13, 2014

      Hi Kitty23,

      Thanks for your question.

      It’s likely that you won’t be eligible, as the terms state that the both of you can not have previously owned a home before.

      Cheers,
      Shirley

  42. Default Gravatar
    mo | June 12, 2014

    If i transfer the title of my house (myself and wife on title at the moment) to my wife only , what stamp duty will need to be paid if the property is worth $600000.

    • Staff
      Shirley | June 13, 2014

      Hi Mo,

      Thanks for your question.

      Stamp duty is generally not payable if there was a relationship breakdown. Otherwise, stamp duty is usually payable when transferring to another family member.

      Cheers,
      Shirley

  43. Default Gravatar
    MAREE | June 10, 2014

    I reside in Western Australia and have bought and sold properties before therefore my next property purchase is subject to a high level of stamp duty. ($530,000 purchase price).
    My sister has never bought a property and probably never will.
    Is there any way she can buy my house on my behalf to take advantage of govt subsidary for first time buyers?

    • Staff
      Shirley | June 11, 2014

      Hi Maree,

      Thanks for your question.

      The fact sheet for the WA FHOG states that she needs to be buying a property for herself or with a spouse. I’ve emailed you this PDF for your reference.

      Cheers,
      Shirley

  44. Default Gravatar
    corinne | June 5, 2014

    do i get a discount on stamp duty as a person on a pension

    • Staff
      Shirley | June 6, 2014

      Hi Corinne,

      Thanks for your question.

      Please contact your local Office of State Revenue for an application form.

      Cheers,
      Shirley

  45. Default Gravatar
    joe | May 22, 2014

    Hi my sister & her husband who have bought a house 4 months ago for $460,000(First home owner) . Now they decided to divorce and my sister & I decided to buy over the house. Does my sister need to pay any stamp duty or just me need to pay for the stamp Duty? My sister will continue staying in the house. Thanks in advance for your advise.

    • Staff
      Shirley | May 23, 2014

      Hi Joe,

      Thanks for your question.

      It’s likely that your sister won’t need to pay stamp duty. However, because this property isn’t your ‘matrimonial home’, it’s likely that you may need to pay stamp duty if you would like to share titles on the property.

      Cheers,
      Shirley

  46. Default Gravatar
    Confused | May 22, 2014

    my husband has been made bankrupt. I have not worked full time since a back injury in 2008
    therefor my son has offered to pay out the mortgage( 45K and the bankruptcy 75k) the bank wants his name put on the title which i agree with as my husband is financially incompetent and this would stop this situation repeating and leave me homeless. Son would be borrowing $120K which hopefully I can repay. House is valued at approx $380k does he stamp duty on his share ( 120) or all? once debt to him is cleared property would be mine again.

    • Staff
      Shirley | May 23, 2014

      Hi Confused,

      Thanks for your question.

      If you’re transferring property to a family member, generally the person obtaining the property is required to pay stamp duty. The amount he is required to pay depends on the value of the property, so it’s likely that he’ll need to pay the full amount.

      Cheers,
      Shirley

    • Default Gravatar
      | May 24, 2014

      So even though were only buying out a share of it , we have to pay stamp duty for the full property price?
      Seems unfair , no win for the ones left with the fall out!
      Doesnt seem that different a situation than Joes except my son will buy my husbands share of our house!

  47. Default Gravatar
    Courtney | May 19, 2014

    Hello, My brother and I have recently inherited a house in Victoria valued at approximately 500,000k, I plan to buy him out for 250,000k. Can you please advise if I have to pay stamp duty when I buy his share of the house? Thanks

    • Staff
      Elizabeth | May 20, 2014

      Hi Courtney,

      Thanks for your question.

      This will depend on a few different factors, such as whether this property will be your primary place of residence. Your question may be better directed to the State Revenue Office of Victoria directly.

      Hope this has helped.

      Thanks,

      Elizabeth

  48. Default Gravatar
    Malcolm | May 17, 2014

    Do you pay stamp duty on rural produce property in WA

    • Staff
      Elizabeth | May 19, 2014

      Hi Malcolm,

      Thanks for your question.

      Yes you will need to pay stamp duty on a rural property purchase on WA.

      Hope this has helped.

      Thnks,

      Elizabeth

  49. Default Gravatar
    RK | May 6, 2014

    Hi We have purchased an off-the-plan property on 4 people’s name in our family.

    nearly 11 months has passed since we booked the property and it is estimated it will take another 6-7 months before it is complete.

    Stamp Duty is not yet paid and we are planning to pay it in couple of months time as off-the-plan stamp Duty needs to be paid before 15 months of the signing of the contract.

    However now we want to remove 2 names in the property as their financials are bit weak and bank told us that it will be easier to finance on only 2 particular names.

    My Question is can we remove 2 names from the purchase contract without any stamp duty implications ? (as mentioned stamp duty is not paid yet)

    • Staff
      Shirley | May 7, 2014

      Hi RK,

      Thanks for your question.

      To our understanding there won’t be any stamp duty implications, as stamp duty generally depends on the value of the property/land. Please confirm this with your local Office of State Revenue, as it is dependent on which state you in live in.

      There could be some legal fees involved in removing the titles of the property, but your lender will be able to advise on those.

      Cheers,
      Shirley

  50. Default Gravatar
    Peter | May 5, 2014

    In Victoria, when I buy a new house and land package, what am I paying stamp duty on – the total cost of the house and land or just on the land?

    • Staff
      Marc | May 6, 2014

      Hi Peter,
      thanks for the question.

      Victorian stamp duty is based on the market value of the property of the purchase price – whichever is greater.

      I hope this helps,
      Marc.

    • Staff
      Marc | May 6, 2014

      Hi Peter,
      thanks for the question.

      Victorian stamp duty is based on the market value of the property or the purchase price – whichever is greater.

      I hope this helps,
      Marc.

  51. Default Gravatar
    LAcie | April 30, 2014

    I was wondering If i still have to pay stamp duty if i am buying the house without a loan? and if i am not obtaining a loan do i still receive a first home buyers grant?

    • Staff
      Shirley | May 1, 2014

      Hi Lacie,

      Thanks for your question.

      Generally stamp duty needs to be paid as long as land has been transferred, and some sort of contract has been signed. So even if you purchase a property without a long, it’s likely that you’ll still need to pay stamp duty.

      Please be mindful that the FHOG only applies to new developments. You can apply for this grant directly to your local Office of State Revenue.

      Cheers,
      Shirley

  52. Default Gravatar
    jeanette | April 14, 2014

    I was just wondering if I sell my house under$300.ooo dollars do I have to pay stamp duty I am on the Disability pension please.

    • Staff
      Marc | April 15, 2014

      Hi Jeanette,
      thanks for the question.

      There are stamp duty concessions available to some pensioners, so please check out the office of revenue for your state to find out more.

      Cheers,
      Marc.

Ask a question
feedback