Glossary · Australian property
Stamp duty (transfer duty).
A state-level tax on property purchases, calculated on the dutiable value (typically purchase price or market value, whichever is higher). Each state runs its own schedule.
Stamp duty (officially 'transfer duty' in NSW + QLD; 'land transfer duty' in VIC) is paid by the buyer at settlement on residential, commercial, and rural property purchases. Each state legislates its own bracketed schedule under the relevant Duties Act.
First home buyers attract concession or full exemption in most states up to a threshold ($800K NSW, $750K VIC, $700K QLD, $450K-$600K WA, $750K TAS). Foreign purchasers pay an additional surcharge (3% TAS, 7% SA, 8% VIC + QLD, 9% NSW; 0% WA + ACT + NT).
Stamp duty is a capital cost added to your CGT cost base. It reduces your eventual capital gain at sale, but is NOT deductible against rental income in the year you buy.
Worked example
On a $1,000,000 purchase: NSW $40,490; VIC $55,000; QLD $38,025 (investor) / $26,300 (PPOR home concession); WA $42,616.
Source
NSW: Duties Act 1997 (NSW) Ch 2 Pt 3. VIC: Duties Act 2000 (VIC) Pt 3 Div 4. QLD: Duties Act 2001 (QLD) Ch 2 Pt 4.
Related terms
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