How stamp duty varies state by state

Zoe FieldingFebruary 8, 20150 min read

The Real Estate Institute of NSW (REINSW) has joined a growing chorus of voices calling for changes to stamp duty on residential property.

REINSW president Malcolm Gunning said NSW home buyers were being hit with excessive amounts of stamp duty, which is known as transfer duty in some states, due to increasing house prices.

“Stamp duty was never designed to slug the average property owner at such high levels,” he said.

Gunning’s comments echo recent calls from others in the industry including the heads of other state branches of the Real Estate Institute, Property Council of Australia of South Australia executive director Daniel Gannon, and CoreLogic RP Data senior research analyst Cameron Kusher.

The tax has been criticised for holding back new residential development and discouraging housing turn over, such as downsizing the family home.

In the UK, cuts to the rate of stamp duty charged on properties introduced late last year have reportedly led to a jump in the number of people looking to buy a home. 

Stamp duty is levied by the states, so its level varies depending on the location of the property. First home buyers in some states receive concessions which mean they do not have to pay duty on the purchase of properties up to a certain value. There are also concessions in some states for buying new homes or vacant land for building a home.

Here are some examples of how stamp duty varies for purchases of established homes in each state. The greatest variation is for lower valued properties where concessions for some types of buyer come into play.

Property value: $350,000

State

First home buyer

Home buyer (subsequent property)

Investor

South Australia

$13,830

$13,830

$13,830

Northern Territory

$13,300

$13,300

$13,300

Tasmania

$11,935

$11,935

$11,935

NSW

$11,240

$11,240

$11,240

ACT

$9,575

$9,575

$9,575

Victoria

$6,935

$13,870

$16,070

Queensland

$0

$3,500

$10,675

Western Australia

$0

$10,735

$10,735

Property value: $650,000

State

All buyer types

Victoria

$34,070

Northern Territory

$32,175

South Australia

$29,580

Western Australia

$24,890

NSW

$24,740

Tasmania

$24,622.50

ACT

$23,300

Queensland*

$15,100

* Buyers in Queensland would pay $22,275 transfer duty on a property bought for investment purposes.

Property value: $1 million

State

All buyer types

Victoria

$55,000

Northern Territory

$49,500

South Australia

$48,830

ACT

$44,918

Western Australia

$42,615.50

NSW

$40,490

Tasmania

$40,185

Queensland

$30,850

Source of data in all tables: Infochoice.com.au

Zoe Fielding

I am a freelance journalist and editor with more than 15 years experience specialising in personal finance, property, financial services and financial technology. A skilled writer and researcher, I have extensive experience producing high quality content for corporate and media clients. I am used to working to tight deadlines and tailoring the pieces I produce to suit a variety of audiences and formats.
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