Stamp Duty Calculator
It’s important to understand all the fees that you must pay when you buy a property. The largest fee involved is Land Transfer Duty, commonly known as Stamp Duty.
Stamp Duty is a mandatory tax that the State and Territory Governments levy on home buyers, whenever they settle on the purchase a property. Each State and Territory in Australia has different rates of Stamp duty, with Victoria having the highest rate in the country.
Stamp Duty is assessed as a fixed or sliding percentage of the total purchase price, and can be a significant impost, especially if the purchaser has not allowed for payment thereof in their calculations of property affordability.
Relevant information includes;
- The amount of duty you pay depends on the value of your property, the State or Territory where the property purchased is located, whether you are eligible for any exemptions or concessions, or if you are a foreign national.
- There are exemptions and concessions from land transfer duty on your property, available to some categories of property purchasers. Visit your State of Territory State Revenue Office website and read about the different land transfer duty exemptions and concessions available.
- In addition to a Stamp duty exemption or concession, first home buyers in some States or Territories may be eligible for a First Homeowner Grant. Eligibility criteria is set by the relevant State or Territory Governments.
- If you are eligible to First Homeowner Grant, it will be paid to you at or after or before settlement, depending on the State. If you are applying for FHOG through the lender, then the lender receives the Grant and will offset it against all fees at settlement.