Stamp Duty

All transfers of land (including gifts) attract duty. Unless an exemption or concession** applies, the transaction is charged with duty based on the greater of:

  1. the market value of the property, or
  2. the consideration (price paid) - including any GST.

The purchaser or transferee is liable to pay the duty within 3 months of settlement.

For the purchase of any other property (i.e. not your Principal place of residence) for contracts entered into on or after 6 May 2008 

The rate of duty charged is on a sliding scale down from a top rate of 5.5% for property valued at more than $960,000 to a base rate of 1.4% for properties valued at not more than $25,000. See table of Duty Rates.

** Exemptions and concession

 ° Family farm exemption
 ° Pensioner exemption and concession
 ° First home owner with family concession
 ° Principal place of residence exemption or concession 
 ° Corporate reconstruction exemption 
 ° Charities and friendly societies
 ° Duty concession for off the plan sales