GUIDES & RESOURCES

Stamp Duty Calculator

In this article, we go into more detail about stamp duty to help you gain a better understanding, and you can use our Stamp Duty Calculator to predict how much you may need to pay.
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Buying a home comes with its fair share of expenses; some that are expected and some you may not have accounted for. Stamp duty is one of those expenses and, while most people in Australia know all about it, not everyone knows exactly how much to set aside.

Take control of your budget by understanding how much stamp duty you may expect to pay, with a little help from iSelect. 

This calculator is currently offline, but will be returning soon! In the meantime you can learn more about Stamp Duty information for your state below:

 

VIC: https://www.sro.vic.gov.au/
NSW: https://www.revenue.nsw.gov.au/
TAS: https://www.sro.tas.gov.au/
NT: https://treasury.nt.gov.au/
WA: https://www.wa.gov.au/organisation/department-of-finance
ACT: https://www.revenue.act.gov.au/land-tax
QLD: https://www.qld.gov.au/housing/buying-owning-home/
SA: http://revenuesa.sa.gov.au/

What is stamp duty?

Stamp duty is a type of land transfer tax that’s 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 location of the property. It goes towards the state who then uses it for various services and infrastructure purposes.

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

How to use our Stamp Duty Calculator

Finances don’t need to be a headache. This Stamp Duty Calculator can provide a guide about fees you may need to pay. All you need to do is enter some simple information for results that are tailored to the information you provide.

The details you need to feed to the calculator are:

  1. The state or territory of the property you’re buying
  2. 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
  3. The amount you’re borrowing
  4. Whether you’re buying the property to live in or as an investment. In some states, stamp duty is higher on investment properties
  5. 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
  6. Whether or not you are a first time buyer. Government grants may be available for first-time buyers that could reduce or eliminate stamp duty, as long as you meet a set of eligibility criteria

How to read the results

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 mortgage registration fee and transfer fee.

The results will also display the government concessions you may be entitled to, if any. This includes first home owner grants and any other grants or concessions. Interpreting the results can help you prepare for these expenses, which are often higher than many buyers anticipate!

stamp duty calculator australia

What other expenses will 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 vary depending on which state or territory the property is based.

What other factors 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 might find yourself saving a significant amount of money.

  • Inherited property: If a home is passed 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 home owner: 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 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
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