The simplified guide to stamp duty in NSW

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Stamp duty is just one of the many costs associated with property ownership. Learn everything you need to know about transfer duty in NSW and see if any exemptions apply to you.

NSW Stamp Duty 2

When you purchase real estate, you’re required to pay a variety of fees and charges upfront-- one of which includes stamp duty (or transfer duty).

Stamp duty is a tax set by each Australian state or territory that is imposed on the purchase of assets including property. Essentially it covers the cost of changing the title of the property and ownership details.

If you own or are looking to buy property in NSW, find out how stamp duty works so you know what you’re up for.

Use our stamp duty calculator to estimate how much you may need to pay for a given transaction in NSW.

Changes to stamp duty

From 1 July 2017, stamp duty concessions for first home buyers will apply both to new and established housing. First time buyers will be exempt from stamp duty for homes valued up to $650,000, while concessions will be available for homes valued up to $800,000.

Important: A quick summary of the NSW housing affordability package

Transfer duty in NSW

The NSW State Office of Revenue states that transfer of land is a duty in NSW on the following transactions:

  • A sale or transfer of land
  • A sale or transfer of business assets
  • A declaration of trust over dutiable property

How is stamp duty calculated?

Stamp duty is calculated on the total dutiable value of the property subject to the transaction.

The current rates and thresholds for NSW are outlined below:

Value of the property subject to the transactionRate of duty
$0 - $14,000$1.25 for every $100 or part of the value
$14,001 - $30,000$175 plus $1.50 for every $100 that the value exceeds $14,000
$30,001 - $80,000$415 plus $1.75 for every $10  that the value exceeds $30,000
$80,001 - $300,000$1,290 plus $3.50 for every $100 that the value exceeds $80,000
$300,001 - $1m$8,990 plus $4.50 for every $100 that the value exceeds $300,000
over $1m$40,490 plus $5.50 for every $100 that the value exceeds $1,000,000
Premium Property Duty: over $3m$150,490 plus $7.00 for every $100 that the value exceeds $3,000,000.

(Source: The NSW State Office of Revenue)

Work out how much stamp duty you'll pay

Who pays the stamp duty?

In NSW, the purchaser of the property or the transferee is liable to pay stamp duty. The purchaser or transferee becomes liable when the sale or transfer takes place. However, if the sale or transfer is influenced by a written document, then the liability arises when the written document is executed.

When is the stamp duty paid?

Stamp duty becomes payable within three months from the date in which the liability arose. If the property is purchased off-the-plan, the stamp duty must be paid within three months from the date of the completion of the agreement or the assignment of the purchaser’s interest in the agreement.

Am I exempt from paying stamp duty?

If you qualify for the First Home - New Home Scheme under the FHOG, you may be eligible for a stamp duty exemption or concession.

The scheme includes an exemption from stamp duty for new homes valued up to $500,000 and concessions on duty for new homes valued between $500,000 and $600,000.

The First Home-New Home Scheme also provides a duty exemption on vacant land valued up to $300,000 and concessions for vacant land valued between $350,000 and $450,000.

How do I pay stamp duty?

The NSW Office of State Revenue accepts the following payment methods:

  • BPAY
  • Electronic Funds Transfer (EFT)
  • Mail
  • In person
  • Advance payment

Can I apply for a refund if the sale transfer is cancelled?

If your sale transfer is rescinded, the transfer is no longer liable for duty. You can apply for a refund by completing the Application for Reassessment and Refund: Cancelled Agreements for the Sale or Transfer of Dutiable Property form which can be accessed on the NSW Office of State Revenue (OSR) website.

What other fees are associated with stamp duty?

There are others fees that come with stamp duty including a transfer fee and a mortgage registration fee. For instance, if you purchased a property worth $450,000 in NSW (and you were not a first home buyer), you would be liable for approximately $15,740 in stamp duty. You would also need to pay a transfer fee of $219 and a mortgage registration fee of $109.50.

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14 Responses to The simplified guide to stamp duty in NSW

  1. Default Gravatar
    yves118 | May 15, 2017

    Do I need to pay GST for Stamp duty?

    • Staff
      Anndy | May 16, 2017

      Hi Yves,

      Thanks for your question.

      You are not liable for goods and services tax (GST) when you sell your home. You also cannot claim GST credits on any costs associated with buying or selling it. This means, you cannot claim GST on stamp duty.


  2. Default Gravatar
    Brad | May 1, 2017

    I live in Victoria ive recently sold and planning to purchase a place in NSW . With stump duty in the state do you have to pay on the purchase as well as the sale of a property there? Thanks

    • Staff
      Anndy | May 3, 2017

      Hi Brad,

      Thanks for your question.

      Stamp duty is a tax set by each Australian state or territory that is imposed on the purchase of assets including property.

      In NSW, the purchaser of the property or the transferee is liable to pay stamp duty. The purchaser or transferee becomes liable when the sale or transfer takes place.


  3. Default Gravatar
    Dave | May 1, 2017

    Is the stamp duty on farming or rural land the same as for other real estate purchases?

    • Staff
      Anndy | May 2, 2017

      Hi Dave,

      Thanks for your question.

      In NSW, the stamp duty on land depends on its intended purpose. NSW offers stamp duty exemptions for Primary production land. These are land that are dominantly intended for primary production. The exemption can be applied whether or not it is you that is undertaking the primary production activity.

      You may have to contact the Office of State Revenue in NSW if you need help in identifying how much stamp duty you should be paying.


  4. Default Gravatar
    joe | April 21, 2017

    I live in NSW and have an investment property (bought in 2014). I never lived in that property and never claimed FHOG grant.
    If I buy new apartment as an owner-occupied property , can I apply for stamp duty exemption and FHOG grant?

    • Staff
      Anndy | April 26, 2017

      Hi Joe,

      Thanks for your question.

      There are a number of circumstances where a buyer in NSW could be exempt from stamp duty tax for new homes. One criteria is if the value of the home is under $550,000. There are also concessions available for new homes with a value of $550,000 – $650,000. For more information on how to get stamp duty exemption, you can check our guide on this page.

      For FHOG, an eligible home will be located in Australia and will be a new or established house, home unit, flat or other type of self contained fixed dwelling that meets local planning standards. The exact specifications will depend on your state. For more information on other eligibility criteria to apply, you can check this page.

      You may want to directly get in touch with the government agency in your area that handles FHOG to discuss your eligibility.


  5. Default Gravatar
    Madi | January 31, 2017

    We are buying a house, the price we are paying is less than the valuation of the home – will the stamp duty be calculated off the value price or the sale price?

    • Staff
      Anndy | January 31, 2017

      Hi Madi,

      Thanks for your question.

      For NSW, QLD, Tasmanian, Victorian, Northern Territory and Western Australian, stamp duty is calculated based on the greater amount out of the price paid for the property and the market value or unencumbered value of the property.


  6. Default Gravatar
    Rory | December 22, 2016

    In the instance of a home sale over 1 million and with the settlement having a term of 52 weeks – when is the stamp duty payable? 3 months from exchange, or on settlement. ?

    • Staff
      Anndy | December 22, 2016

      Hi Rory,

      Thanks for your question.

      For NSW, stamp duty is generally payable on the purchase price within 3 months of settlement or 15 months of the contract date (whichever is sooner). If you are obtaining finance, you will have to pay the stamp duty by settlement date.


  7. Default Gravatar
    George | July 28, 2016

    Do u have to pay stamp duty when I’m buying a new home off the plan but I’m not a first home owner

    • Staff
      May | July 28, 2016

      Hi George,

      Thanks for your question.

      Yes, when purchasing a home, you are legally required to pay stamp duty that is based on the value of the property. You have to pay this tax within 30 days of settlement on the property.

      You can read more about our article on stamp duty here.


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