Stamp Duty and First Home Buyer Costs by State

Stamp duty is one of the biggest upfront costs when buying property in Australia.

The difficult part is that stamp duty rules are not the same across Australia. Each state and territory has its own rules, thresholds, concessions, grants and terminology.

Some states call it stamp duty. Others call it transfer duty or conveyance duty.

This guide gives a plain-English overview of what buyers should check in each state and territory. It is designed to help users understand the questions to ask before relying on any estimate.

It is general information only. Stamp duty rules, first home buyer concessions and grants can change. Always confirm current rules with the relevant state or territory revenue office, your settlement agent, conveyancer, solicitor or mortgage broker.

Why stamp duty differs by state

Property duty is charged by state and territory governments, not by the federal government.

That means a buyer purchasing in Western Australia may face different rules from a buyer purchasing in New South Wales, Victoria or Queensland.

The same purchase price can result in different upfront costs depending on where the property is located.

Common factors that affect stamp duty

The amount of duty may depend on:

• State or territory
• Purchase price
• Property type
• Vacant land or established home
• New home or off-the-plan property
• Owner-occupier or investor
• First home buyer status
• Foreign buyer status
• Whether a concession or exemption applies
• Settlement date or contract date
• Residency and occupancy requirements
• Whether the buyer is purchasing alone or with others

Because these rules can be detailed, buyers should confirm the current position before signing a contract.

How first home buyer costs differ from normal buying costs

First home buyers may have access to concessions, grants or schemes that other buyers do not.

However, first home buyers still need to allow for many normal buying costs, including:

• Deposit
• Stamp duty or transfer duty
• Settlement agent, conveyancer or solicitor fees
• Government transfer fees
• Mortgage registration fees
• Lender fees
• Valuation fees
• Building and pest inspections
• Strata reports, where relevant
• Insurance
• Settlement adjustments
• Moving costs
• Immediate repairs and setup costs

A first home buyer concession may reduce one cost, but it does not remove every purchase cost.

Why calculators can only estimate

A stamp duty calculator can be useful for early planning, but it cannot replace official advice.

The final duty amount may depend on details such as:

• Exact contract date
• Settlement date
• Dutiable value
• Property type
• Buyer eligibility
• Residency status
• Foreign purchaser rules
• Concession application
• State or territory law
• Revenue office interpretation

Buyers should use calculators as a starting point and then confirm the result with a settlement agent, conveyancer, solicitor or the relevant revenue office.

Example: why the same purchase can have different costs

Imagine two buyers purchasing properties for the same price in different states.

Buyer A may qualify for a first home buyer duty concession.

Buyer B may not qualify because their state has different rules, their property type is different, or the purchase price sits above the relevant threshold.

Buyer C may be buying an investment property and may not qualify for owner-occupier concessions.

This is why buyers should not rely on a friend’s stamp duty result from another state.

Checklist before signing a contract

Before signing a contract, buyers should ask:

• 1What state or territory rules apply?
• 2What is the estimated duty?
• 3Am I eligible for any concession or exemption?
• 4Do I need to live in the property?
• 5Are there price limits?
• 6Are there income or residency requirements?
• 7Are all buyers eligible?
• 8Do I need to submit forms before settlement?
• 9Will my settlement agent or conveyancer handle the application?
• 10Could foreign buyer surcharge rules apply?
• 11Have I allowed for all non-duty purchase costs?