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Stamp duty in the ACT
If you’re buying a property in the ACT, you’ll need to pay stamp duty, or conveyance duty, but you may be eligible for a discount or concession.
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Conveyance duty, or stamp duty is the tax you pay when you buy a property in the Australian Capital Territory, be that an existing home, vacant land or commercial premise. How much you'll pay depends on the type of property you're buying, how much you earn (or your combined income, if you're buying as a couple), and whether or not it's your first home.
Stamp duty calculator
You can use Finder's stamp duty calculator to estimate your stamp duty obligations. Be sure to set the state/territory to ACT before starting.
This is just an estimate and may not reflect your actual costs.
How to use the ACT stamp duty calculator
- Enter your property value (or an estimate).
- Pick ACT as your state/territory.
- Select Live-in (if you're buying a home), Investment (for an investment property) or Vacant land (if building on a vacant lot).
- If you've never owned a home before select Yes for First Home Buyer (you may get a stamp duty discount).
How much is stamp duty in the ACT?
Stamp duty in the ACT is calculated based on the value of the property (called the dutiable value). There are different rates of stamp duty for owner-occupiers and other types of property buyers (such as investors).
Rates of conveyance duty in the ACT are set out in the following table:
|Property value||Duty rate (owner-occupier)||Duty rate (non owner-occupier)|
|Up to $200,000||$0.68 for every $100 of the dutiable value||$1.20 per $100 of the dutiable value|
|Between $200,001 and $300,000||$1,360, plus $2.20 for every $100 over $200,000||$2,400, plus $2.20 for every $100 over $200,000|
|Between $300,001 and $500,000||$3,560, plus $3.40 for every $100 over $300,000||$4,600, plus $3.40 for every $100 over $300,000|
|Between $500,001 and $750,000||$10,360, plus $4.32 for every $100 over $500,000||$11,400, plus $4.32 for every $100 over $500,000|
|Between $750,001 and $1,000,000||$21,160, plus $5.90 for every $100 over $750,000||$22,200, plus $5.90 for every $100 over $750,000|
|Between $1,000,000 and $1,455,000||$35,910, plus $6.40 for every $100 over $1,000,000||$36,950, plus $6.40 for every $100 over $1,000,000|
|More than $1,455,000||A flat rate of $4.45 per $100, applied to the total value||A flat rate of $4.45 per $100, applied to the total value|
Source: ACT Revenue Office
Stamp duty concessions for home buyers
The ACT doesn't have a concession scheme exclusively for first home buyers, but they are covered by the home buyer concession, provided they meet the other qualifying criteria.
This concession allows home buyers to avoid stamp duty, depending on their household income and number of dependent children. If your income meets thresholds below, you can avoid stamp duty.
|Number of dependents||Total gross income threshold|
|5 or more||$176,650|
Source: ACT Revenue Office
To qualify for a home buyer concession, buyers in the ACT must also meet these criteria:
- Be 18 or over
- Have income below a specified threshold
- Must not have owned another property in the previous two years
- Must live in the home continuously for one year, within twelve months of settlement
Example: Matt is buying his first home in Canberra, valued at $750,000. His income is $110,000, he's over 18, and he's planning on moving into the property right away, so he qualifies for the home buyer discount. Matt won't need to pay any stamp duty on his home purchase.
When is stamp duty payable?
If you don't qualify for the home buyer concession, you will need to download and fill in the ACT Government's Buyer Verification Declaration form, and submit it to Access Canberra, along with the required documents and proof of your identity within 14 days.
For most buyers, your conveyancer will handle most of this for you.
More questions about ACT stamp duty
Q: I want to buy a commercial property in the ACT, can I get the home buyer discount?
No, only residential properties are covered by the home buyer concession scheme. However, commercial properties in the ACT valued at less than $1,500,000 don't attract any conveyance duty. If the property is valued at more than $1,500,000, a flat rate of 5% applies.
Q: If our combined income is over the threshold, can we access any discounts?
No, the home buyer concession is only available to buyers earning under the threshold for their family size.
Q: Aside from the home buyer concession, are there any other circumstances under which conveyance duty is waived?
Yes, conveyance duty is waived when property changes hands as part of a deceased estate or divorce settlement.
More guides on Finder
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