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Stamp Duty Calculator
Stamp duty is a land transfer tax charged on every property purchase in Australia, though the amount varies according to which state or territory you live in and the purchase price of the property.
But that’s not all – you’ll likely also be up for a mortgage registration fee and separate transfer fee.
However, you may be eligible for certain government grants and concessions, depending on the type of property you’re buying, where you live and whether or not you are a first home buyer.
To help you factor in these costs to your home-buying budget, iSelect’s handy Stamp Duty Calculator will give you an estimation of the government fees you’ll be charged, and what you might get back.
How to use the Stamp Duty Calculator on a Property
All you have to do to use the Stamp Duty Calculator is provide us with a few details, including:
- The state or territory in which you are purchasing the property.
- The purchase price of the property you have your eye on.
- The amount you are borrowing.
- Whether you are purchasing the property to live in or as an investment. In some states, stamp duty is higher on investment properties.
- The property type – whether it’s an established home, a new build or vacant land. Stamp duty can vary depending on these factors; for example, in NSW, first-time purchasers pay no stamp duty on vacant land valued up to a certain amount.
- Whether or not you are a first home buyer. One-off government grants are available to first home buyers as long as they meet the eligibility criteria.
How to read the results
The Stamp Duty Calculator will give you a rundown of the total government fees due on your purchase; that is, the mortgage registration fee, transfer fee and stamp duty on the property. It will also tell you how much, if anything, you might be entitled to in terms of grants and concessions.