Stamp Duty Rates
Stamp duty is a tax levied by Australian state and territory governments on financial transactions like real estate property transfers, share sales and hire purchase agreements. The revenue from stamp duties is used to fund public services such as transport, health, law and order and education facilities. In this article we’ll be looking at stamp duty on property sales and how the duty is applied across the different states and territories on sales of residential property.
How is stamp duty charged?
Stamp duty can add quite a hefty sum to the cost of buying a home. It’s important if you’re considering a home purchase to include the cost of stamp duty in your budget because the cost of stamp can influence the amount you can borrow and the type of property you can buy.
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 ANZ Breakfree Home Loan Package ($150,000 – $249,999) |
Enjoy up to 0.70% off the ANZ standard rate) | 6.55% | $ 0 / $375 | 80% | $150,000 / $249,999 |
 
|
|
ANZ Simplicity Plus Basic Home Loan |
Minimise your repayments with up to 10 years interest only feature | 6.35% | 6.40% | $0 / $ 0 | 80% | $50,000 / $1,000,000 |
|
 NAB National Choice Package ($100,000 to $249,999) |
A competitive rate from one of the big four | 6.39% | 6.75% | $0 / $395 | 95% | $150,000 / $249,999 |
|
Stamp duty is payable at the time the property transaction is settled. It’s usual for the amount you borrow to include stamp duty and the lender then pays the stamp duty to the government at around the same time as the rest of the home purchase transaction is settled.
Rates of stamp duty vary across the states and territories and are generally based on a sliding scale with increasing rates as the value of the property increases. The amount of stamp duty payable can be reduced by exemptions and discounts set by the different jurisdictions. The discounts are usually applied to first home buyers to encourage people to take up home ownership, but exemptions and concessions are also available for other groups.
What are the rates of stamp duty and what concessions are available?
The rates of stamp duty differ from state to state as do the exemptions and discounts that are allowed. The following is an indication of current stamp duties and concessions for a property valued at $300,000 (a typical housing purchase in Australia):
- In Australian Capital Territory property stamp duty would be $9,500. Rates range between 2% and 6.75% of the dutiable value of the property and there are stamp duty exemptions and concessions for vacant land purchases and first home buyers.
- In South Australia property stamp duty would be $11,330. Property stamp duty rates range between 1% for properties worth less than $12,000 and 5.5% for properties valued at $500,001 or more. Stamp duty discounts apply for first home buyers.
- In Western Australia stamp duty would be $10,700. This level of stamp duty would be charged on the purchase of an investment property, and lower rates apply for owner occupiers and first time buyers. There are also stamp duty exemptions and concessions vacant land purchases.
- In New South Wales property stamp duty would be $8,990. Rates range from 1.25% for properties valued at less than $14,000 up to 5.5% for properties worth more than $1 million. Stamp duty concessions and exemptions apply for purchase of vacant land and to first home buyers, purchasers of properties “off the plan” and some purchasers aged 65 or over.
Stamp duty laws constantly change as governments use stamp duty concessions to influence local property markets or boost the construction industry. If you’d like to find out the current status of stamp duty on property purchase and whether you’d be entitled to claim discounts, please contact us.
Related posts:
- Stamp Duty Western Australia
- Stamp Duty Exemptions
- Stamp Duty Exemptions and Rebates
- Property Stamp Duty Rates
- Stamp Duty Calculator QLD
- Government Stamp Duty
- UK Stamp Duty
- Stamp Duty on Transfer of Property
- Stamp Duty on Property Purchase
- Stamp Duty Concession
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded Mortgage of the Year 2012 – this multi-award winner features 100% offset and a loyalty 0.25% rate drop after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
Ask A Question