Finance FAQs

Frequently asked questions

Asset-26

What’s stamp duty and do I need to pay it on my new home?

Before we jump into the dollars and cents, let’s cover off what Stamp Duty actually is. Stamp duty (or transfer duty as it is sometimes known) is a government tax you have to pay when purchasing land or property.

However, if you choose a house and land package valued under $430,000, you won’t have to pay any stamp duty. None, zip, nada.

First home buyers eligible for the First Home Owners Grant and purchasing a home valued between $430,001 and $530,000 do have to pay it, but it will be at a discounted rate.

Something of a details person? Here’s how you can calculate what (if any) stamp duty you could be looking at with your chosen house and land package:

Established Property

Land or Property ValueDuty Payable
$0-$430,000No duty payable
$430,001-$530,000$19.19 for every $100 (whole or in part) over $430,000
$530,001+Normal residential stamp duty rates apply

Vacant Land

Land or Property ValueDuty Payable
$0-$300,000No duty payable
$300,001-$400,000$13.01 per every $100 over $300,000

*Details correct as of January 2022.

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