Home loan stamp duty calculator

RateCity's stamp duty calculator can provide you with an estimate of your total government fees when buying a residential property, based on the information you input. The estimate includes stamp duty, mortgage registration and transfer fees.

In order to determine the most accurate estimate, the calculator takes into consideration the following factors:

• Whether you are purchasing the property as your principal place of residence (as an owner occupier), or to rent out (as a property investor)
• The state or territory in which the property is located
• The value of the property
• Whether or not you are a first home buyer
• Whether you are purchasing an existing property, buying off the plan, or only buying land

The calculator will also use this information to determine and apply any concessions or exemptions you may be eligible for.

Stamp duty is a tax charged by each of the state and territory governments in Australia whenever certain types of property (including real estate and motor vehicles) are sold. Sometimes called “land transfer duty” or something similar, the tax helps cover the cost of transferring a property’s legal title from one owner to another.

Stamp duty is a one-off charge that you’ll need to pay when you purchase a property. Additional to the purchase price, it can significantly increase the upfront costs of buying real estate, which may also include home loan establishment fees, pest and building inspection fees, lenders mortgage insurance (LMI) and more.

Different states and territories charge stamp duty at different rates, and the cost of stamp duty may depend on a range of factors. Generally, the more the property sells for, the higher amount of stamp duty you may need to pay. Stamp duty may also be charged at different rates for different property types, e.g. vacant land, detached housing or apartments bought off the plan.

When you buy a property, you’ll likely need to pay stamp duty some time after your settlement date – anywhere from 30 days to three months, depending on your location. This payment is often organised through your conveyancer or solicitor, so you can be confident that there are no outstanding issues that could affect your purchase or transfer of title.

Here’s a general guide to help you calculate the amount of stamp duty you’ll pay on your purchase in different Australian states and territories.

In NSW, transfer duty (also known as stamp duty) is calculated on the property’s sale price or its current market value, whichever is higher. In addition to the standard transfer duty rate payable on a property, you are also required to pay a premium duty rate for residential properties worth more than $3 million. 

It’s important to note that the threshold amounts for standard transfer duty and premium duty in NSW are adjusted to the Consumer Price Index (CPI). You can find more details on the Revenue NSW website. Presently, the following duty rates are applicable on the purchase of residential property as of 1 July 2022. 

Source:https://www.revenue.nsw.gov.au/taxes-duties-levies-royalties/transfer-duty

Our NSW Stamp Duty Calculator could help you estimate how much duty you may be required to pay. Note that the NSW State Government offers some stamp duty concessions to first home buyers under the First Home Buyers Assistance Scheme. It allows stamp duty exemptions for first home buyers purchasing a new or existing home valued up to $650,000 or a vacant block of land worth less than $350,000. 

Stamp duty concessions are also available under the scheme for new and existing homes valued between $650,000 - $800,000 or a vacant block of land valued between $350,000 - $450,000.

The stamp duty or the conveyance duty you pay in the ACT depends on the property’s purchase price or market value. 

Duty is calculated on the combined price of the land and the house unless the land is purchased under one contract and the construction is planned under a separate contract. The applicable duty rates and thresholds depend on the date of your transaction. You can visit the website of the ACT Revenue Office for more information and latest updates. 

Duty rates for transactions on or after 1 July 2022 are set out in the following table. Owner occupiers who don’t occupy the property within a year of settlement are charged stamp duty at higher rates.

Source: https://www.revenue.act.gov.au/duties/conveyance-duty

Note that the state exempts owner-occupiers from paying stamp duty on their first home up to a limit of $35,910 under the Home Buyer Concession Scheme. However, a maximum income threshold applies to be eligible for stamp duty exemption in the ACT under the scheme, with this threshold varying depending on the number of dependent children in the household.

In Queensland, the amount of stamp duty you pay is calculated on either the market value of the property or the amount you pay for it, whichever of the two is higher. The amount of transfer duty you pay also depends on whether you are buying the property to live in, or as an investment. An additional seven per cent duty is levied on foreign buyers acquiring residential land in Queensland.

The general rate of transfer duty payable by owner-occupiers in Queensland is set out in the table below. 

Source: https://www.qld.gov.au/housing/buying-owning-home/advice-buying-home/transfer-duty/how-much-you-will-pay/calculating-transfer-duty/transfer-duty-rates

You can use our Stamp Duty Calculator to get an estimate of how much stamp duty you’ll be required to pay.

If you are a first home buyer, you may be eligible for stamp duty concessions in the state. The first home concession is available for properties valued at less than $550,000. For owner builders purchasing vacant land to build their first home, the first home vacant land concession provides for discounted duty rates for vacant land valued at under $400,000.

If you’re buying a home in WA, you’ll most likely need to pay transfer duty on the purchase. The following table lists the residential rate of duty that applies to places of residence, rental homes, vacant land on which a residence is constructed within five years of purchase, and mixed use properties. 

Source: ​​https://www.wa.gov.au/organisation/department-of-finance/transfer-duty-assessment

However, if you are buying a dwelling worth $200,000 or less, you may be eligible for the following concessional rate of duty.

Source:https://www.wa.gov.au/organisation/department-of-finance/transfer-duty-assessment

The state also offers a concessional First Home Owner Rate of Duty to first home buyers purchasing new or established homes. Eligible first home buyers purchasing a dwelling valued at $430,000 or less are exempt from paying stamp duty. A concessional rate of duty is applied to homes valued between $430,001 - $530,000.

Stamp duty in SA is calculated on a sliding scale on the dutiable value of the property. The dutiable value refers to the value of the property or its sale price (including GST), whichever is higher. You can see the applicable duty rates in SA in the following table. 

Source: https://www.revenuesa.sa.gov.au/stampduty/rate-of-stamp-duty

Unlike other states in Australia, there are no stamp duty concessions in SA for first home buyers.

There have been significant stamp duty changes in Victoria in recent years. The following table shares the general land transfer duty rates applicable to contracts entered on or after 1 July 2021. 

Source: https://www.sro.vic.gov.au/non-principal-place-residence-dutiable-property-current-rates

As per the changes, Victorians purchasing high value properties valued at $2 million or more will pay a premium duty rate of 6.5% for every dollar above $2 million. On the other hand, first home buyers have been offered a slew of concessions as part of the changes. For instance, first home buyers purchasing an off-the-plan property in Victoria will qualify for a concessional transfer duty rate for properties valued at up to $1 million. This threshold is applicable for properties purchased after 1 July 2021 and will last until 30 June 2023. 

If you are a first home buyer, you could visit the Victoria State Revenue Office website to check your eligibility for a range of exemptions and discounts, such as a 50% duty waiver.

The stamp duty you pay in Tasmania is based on the value of your property or the purchase price paid, whichever is greater. The applicable duty rates are set out in the following table. Note that foreigners acquiring residential land are required to pay additional duty in the state. 

Source: https://www.sro.tas.gov.au/property-transfer-duties/rates-of-duty

If you are a first home buyer, you may be eligible for a 50% discount on stamp duty in Tasmania when buying an established home valued at $600,000 or lower.  However, this concession is not available if you are purchasing a newly built home.

The stamp duty calculation in NT is different from other states. It is particularly complicated for properties valued at less than $525,000. However, the Northern Territory Government information and services website provides a handy calculator to find out exactly how much stamp duty is payable on your transaction.

Stamp duty is generally calculated on a sliding scale, based on the property’s sale price or current market value, whichever is highest. The lower the property's dutiable value, the less tax you’ll likely need to pay when you buy it.  

States and territories often calculate stamp duty based on value categories, which are frequently updated. You may be charged transfer duty at a set rate for the value category the property falls into, plus an extra fee based on how much higher the property’s value is than the category’s minimum value (e.g., a base rate of $9,805 plus $4.50 for every $100 over $327,000).

Not all home buyers need to pay stamp duty for every property purchase. Several states and territories offer stamp duty discounts, waivers, or concessions for first home buyers, pensioners or other selected borrowers in different financial situations. On the other hand, property investors may be charged stamp duty at higher rates than owner occupiers in some cases.

To determine whether you may be eligible for a stamp duty exemption or concession, visit your state or territory's government website:

• New South Wales (NSW):www.revenue.nsw.gov.au
• Victoria (VIC): www.sro.vic.gov.au
• Queensland (QLD): www.qld.gov.au
• Western Australia (WA):www.wa.gov.au
• South Australia (SA):www.revenuesa.sa.gov.au
• Tasmania (TAS):www.sro.tas.gov.au
• Australian Capital Territory (ACT):www.revenue.act.gov.au
• Northern Territory (NT):www.nt.gov.au

There are different stamp duties in each state or territory. The level of exemption and concession is influenced by the value of the property in some areas, and by whether or not the property is your primary residence, or if it is an investment property.  Some may also offer different concessions and exemptions if you're a first home owner, as well as potentially qualifying you for your state or territory's First Home Owner Grant (FHOG).  

How much stamp duty one may pay depends on all of these factors, so it's worth visiting your state’s Revenue Office website for the latest information.

Estimating the cost of stamp duty before you buy a property can make a big difference to your budgeting. Because stamp duty is charged by a government, and not your lender, it’s most often paid upfront out of your savings. This means less of your savings can go toward a deposit, which could mean you’ll be charged for Lenders Mortgage Insurance (LMI) – another significant upfront cost. You may be able to add LMI onto your loan to pay off over time, though this likely means paying more in interest charges.    

If you’re not sure of the best option for managing your stamp duty when you buy a property, you could consult a mortgage broker for advice. These experts stay up to date with the latest rules and regulations around stamp duty in your area, and can advise you of some of the ways to manage the cost of stamp duty when you apply for a home loan.

Consider using other home loan calculators to gauge how much you'll need to pay throughout the life of your mortgage, including home loan repayments, and not just the fees required to purchase a property.

Mortgage brokers are licensed experts with a specialised knowledge of the home loan market. They can provide professional financial advice, while helping you shortlist lenders and apply for home loans that are suitable for you. 

When it comes to questions on stamp duty and other government fees, a mortgage broker will typically have an in-depth understanding of this information and can provide you with accurate details that reflect your personal circumstances.

If you're interested in learning more, consider reaching out directly to a mortgage broker.