Stamp Duty Calculator

To help you take control of your budget and understand how much stamp duty you could have to pay, we’ve put together this article which includes a handy Stamp Duty Calculator.
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*iSelect is the trading name of iSelect Mortgages Pty Ltd (ABN 86 148 217 181). iSelect Mortgages Pty Ltd is a credit representative (Credit Representative 400540) of Auscred Services Pty Ltd (Australian Credit Licence 442372). iSelect provides a referral to Lendi Pty Ltd, a Credit Representative of Lendi Group Finance Pty Ltd (Australian Credit License 442372). iSelect Mortgages Pty Ltd receives a commission from the Licensee for each new customer account created and for each home loan submitted through this service.

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Buying a home is one of the most exciting times in anyone’s life. But it can come with some nasty surprises, such as the stamp duty. Our calculators can help you to work out how much stamp duty you have to pay and that way you can make sure you don’t come up short when you find that dream property.

What is land transfer or stamp duty?

Land transfer duty replaces the term stamp duty in some states and is a land transfer tax charged on all real estate purchases throughout Australia. The actual cost of stamp duty varies depending on a few factors, such as the state or territory, the property price, and the property’s location. The money goes to the state, which then uses it to help pay for essential services and infrastructure projects.

It’s a one-off payment that you’ll need to factor in when considering your home loan budget. In most cases, stamp duty is paid at the time of settlement, typically within 30 days.

How do I use the Stamp Duty Calculator?

First off, breathe easy. This is a tool that has been designed to make this part of the process quick and simple. The Stamp Duty Calculator will give you an idea of the likely fees you may have to pay and all you need to do is enter some simple information. The projected result will be based on your data input.

The details which the calculator requires are:

  • The state or territory of the property where you’re buying.
  • The purchase price of the property. Stamp duty rates are based on a sliding scale of taxation, so generally the higher the property price, the higher the stamp duty rate will be.
  • The amount you're borrowing.
  • Whether you’re buying the property to live in or as an investment. In some states, stamp duty is higher on investment properties.
  • The property type. Select between an established home, a newly constructed home and vacant land to build a home. The property type can affect the price of stamp duty.
  • Whether or not you are a first time buyer. Government concessions or exemptions may be available for first-time buyers that could reduce or eliminate stamp duty, as long as you meet a set of eligibility criteria. Typically, your property will need to fall under a specific price threshold to be eligible for concessions.

How do I read the results of the calculator?

Once you’ve entered your details, the calculator will present a breakdown of results. Because you need to consider more than just stamp duty, the results also show the potential mortgage registration fee and transfer fee.

The results will also display the government concessions you may be entitled to, if any such as for first time home buyers.

What other factors can affect stamp duty?

We’ve already covered the fact that property price and location affect the cost of stamp duty. There are other factors that also affect it, which are worth knowing about. If any of them apply to you, you could find yourself saving a significant amount of money.

  • Inherited property: If a home is passed on to you from a family member, usually due to death or divorce, you may not be required to pay stamp duty on the property.
  • First time homeowner: The government encourages first-time buyers by offering grants and schemes that exempt you from paying stamp duty up to a certain value. This can vary by state and the details of the property purchased.
  • Concession rates: You may be eligible for a discount if you’re a pensioner, carer, or farmer. Again, laws vary between states and territories.

What other expenses may I have to cover?

You may be wondering about the other expenses that were displayed by the Stamp Duty Calculator results. To clear this up, we’ve explained what they are and why they have to be paid.

  • Mortgage registration fee: This covers the charge for registering for a home loan. In other words, the property becomes the security on a home loan.
  • Transfer fee: The transfer fee is the cost to transfer the property to your ownership

The above fees can vary depending on which state or territory the property is based.

Could I qualify for a stamp duty exemption?

Regardless of whether you’re purchasing a new home or an established property, if you’re a first home buyer most states and territories will offer you a discount on your stamp duty. This will depend on the property purchase price, among other things. To find out if you’re eligible, visit the relevant state government revenue website in your jurisdiction, or check with your solicitor or conveyancer.

And if you’re buying a new home, you may even qualify for a direct payment towards the cost of your first home through the first homeowners grant scheme that operates in your jurisdiction. Wouldn’t that make a very nice housewarming gift?

What about stamp duty on investment properties?

Government Duty Charges are generally different when you’re buying an investment property as opposed to a home you’re going to live in. Some states have different stamp duty scales that apply to investment properties, and these are generally more expensive. So, before you look into buying an investment property, make sure you factor in the cost of stamp duty—it could be a deal breaker. And given the potential tax implications of stamp duty payments for investors, it could be a good idea to check any decisions with your Tax Accountant.

Ready to compare home loans?

Our team at iSelect have partnered with Lendi*, so we can help you compare from a range of different providers and products. Use our online tool to compare home loans, or give Lendi a call on 1300 186 260 (08:30-18:30).


Last updated: 9/02/2021