GUIDES & RESOURCES

Stamp Duty ACT

In the ACT, Stamp Duty is better known as Conveyance Duty, and it’s something almost every Australian has to pay when buying a property. So what is it? How is it calculated? Are there any concessions? Or any surcharges?

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Stamp Duty Calculator ACT

Use our Stamp Duty Calculator to work out how much you might have to pay.

What is Stamp Duty?

As we said, in the ACT Stamp Duty is better known as Conveyance Duty. It’s the tax you pay when you buy residential or commercial property, or a piece of land.

It’s a tax you pay as a one-off fee within 14 days of settlement of the purchase. The ACT is likely to use the proceeds of Conveyance Duty to help fund government infrastructure projects and services.

How is Stamp Duty calculated in the ACT?

In the ACT, Stamp Duty (Conveyance Duty) is calculated based on the purchase price, or market value, of the property. This is the combined price of the house and land and includes house and land packages, as well as off-the-plan property purchases. There are variations in this and you can find more details at www.revenue.act.gov.au/duties/conveyance-duty.

The calculator above will be a good guide to get an estimate of how much duty you may have to pay.

Enter your details, such as property price, location, use of property and type of build, and the calculator will do the rest. Easy as that. The calculator can also give you a guide to eligibility for concessions and any extra fees your purchase may attract.

When do you have to pay Stamp Duty in the ACT?

After your purchase contract settles and your title is registered with Access Canberra, you’ll receive a notice of assessment. Among other details, this will tell you how much Conveyance Duty you have to pay, and your options for making the payment. It will also show any concessions or exemptions that you qualify for. You then have 14 days to pay if you want to avoid attracting interest charges. For more details check the ACT Revenue Office website.

Are there any Stamp Duty concessions available in the ACT?

Yes, there are three concessions available in the ACT, keep reading below to see which could be applicable to you.

Home buyer concession scheme

This concession was put in place from 1 July 2019 and is for people under a certain income, who haven’t owned their own home for at least two years. It offers full relief from Conveyance Duty and gives more buyers freedom in owning their first home. The income thresholds are in this table (include any applicable partner income):

Number of dependent children             Total gross income threshold.
0 $160,000
1 $163,330
2 $166,660
3 $169,990
4 $173,320
5 or More $176,650

All properties in the ACT are eligible for this scheme and it now applies to vacant residential land, as well as new and established homes of any value.

At least one buyer must live in the home continuously for 12 months, starting within one year of settlement or the completion of construction. There are other conditions such as a cap on the concession, so check your eligibility on the ACT government website.

Pensioner Duty Concession Scheme

This scheme reduces Conveyance Duty to help eligible pensioner homeowners move to accommodation more suited to their needs. It could help someone move into a smaller, more easily maintained house, for example. To qualify, at least one buyer must be an eligible pensioner and the scheme may also relate to homes bought off-the-plan.

The scheme applies to properties under a threshold value. Full eligibility terms can be found at www.revenue.act.gov.au/home-buyer-assistance/pensioner-duty-concession.

Disability Concession Scheme

If you’re living with a long-term or permanent disability, you may qualify for full Stamp Duty relief when buying a property as your permanent residence. You can check your eligibility here on the ACT government website.

Do first home buyers have to pay Stamp Duty in the ACT?

Eligible first home buyers may qualify under the ACT’s Home buyer concession scheme as outlined above. If you’re over 18, haven’t owned a home in the last two years, and your income falls below the thresholds in the table above, you may qualify for Stamp Duty relief.

Getting a full concession on your Stamp Duty could free up some much-needed money when you’re moving into your first home. So it’s worth checking your eligibility on the ACT government website.

What is the foreign ownership surcharge?

If you’re a foreign individual, foreign corporation or trustee of a foreign trust, on the first day of each land tax quarter, beginning from the first quarter following settlement, you may well be eligible to pay a land tax surcharge.

To check whether you’ll be affected, see more detailed information on the foreign ownership surcharge here.

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Last updated: 28/10/2021

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