Find out how much stamp duty you’ll pay on your house purchase in Australia with Savvy’s smart stamp duty calculator
It’s important to know the stamp duty costs when you buy your home, as this tax can amount to tens of thousands of dollars. Although stamp duty varies from state to state, Savvy’s stamp duty calculator will tell you exactly how much you’ll be liable for regardless of where you live.
Start off by clicking on the state in which you live at the top of the stamp duty calculator. Next, enter the value of the property you intend to buy and work your way through the other answers you’re required to provide, which vary from state to state (and from region to region in Victoria).
The stamp duty costs you’re required to pay also vary depending on whether you’re buying a new home, an established home or vacant land, and whether the home is intended for you to live in or purchased as an investment property. In general, the stamp duty on investment property tends to be higher in some states, although this does vary.
There are many stamp duty concessions available depending on whether you’re a first homebuyer or a pensioner and also subject to the value of the property being purchased, and in some states, your income.
This stamp duty cost calculator will take all these different variables into account and will tell you exactly how much stamp duty you’re up for. Since the stamp duty on buying a house varies so much from state to state, it’s always worth checking with your state government for the latest information.
There are some ways you can either avoid or minimise the stamp duty you have to pay. The most common of these are if you’re a first homebuyer – see below for details of all the grants and schemes available if you are buying your own home for the first time.
To qualify for first home owner assistance, there are certain criteria that apply nationally. They are:
The conditions and features of first homebuyer schemes relating to stamp duty concessions or exemptions differ between states. These are:
In addition, eligible pensioners are entitled to generous discounts on stamp duty in the Australian Capital Territory and the Northern Territory, as well as in Victoria and Tasmania. For example, in the NT, a concession of $10,000 is applied to aged pensioners, health care card holders and DVA card holders if a house or land is purchased under $292,300. The concession decreases as the value of the purchase increases, up to a maximum of $385,000 for land and $750,000 for a property.
Rules and regulations for paying stamp duty do change regularly, so it’s always worth checking with your state government for the latest up-to-date information.
The timing of when you have to pay stamp duty on houses also varies from state to state. These are the time limits for paying stamp duty (known as property transfer duty in Tasmania):
The payment of stamp duty on houses is usually undertaken by the conveyancer or lawyer who is responsible for ensuring that legal title transfer takes place.
Generally speaking, stamp duty is paid on the price of the land, not the individual value of the property built on it. Therefore, if you buy a vacant block and then build a home on it, you only pay stamp duty on the cost of the land, which can save you thousands of dollars compared to paying stamp duty on the price of the property once the house has been built on it.
This grant was first introduced in Australia to offset the effect of the GST on home ownership. It’s a national scheme (except the ACT), but it’s administered by individual states, and consists either of a grant to first homeowners (who satisfy certain eligibility criteria) or exemption for paying stamp duty for first homeowners (depending on which state you live in).
The FHOG can be used to help pay stamp duty. In the ACT, the FHOG has been replaced by the Home Buyer Concession Scheme, which is capped at $35,910 in 2022.