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iSelect Editorial TeamWe partnered with Lendi* to help you compare home loans from over 25 lenders and over 2,500 home loan products.
Stamp Duty is known by a few different names around Australia. In Tassie, it’s often called ‘Duty’ or Property Transfer Duty. It’s also known as Transfer of Land Duty in some states.
Whatever it’s called, it’s a form of tax you pay when you buy property or land. Generally, the more you pay for the property, the more Stamp Duty you’ll pay.
Stamp Duty is calculated a bit differently depending on which state or territory you’re buying in. But no matter where you live, you’ll pay the Stamp Duty to the state or territory in which you’re buying your land or property, unless you’re eligible for an exemption or concession.
It’s a one-off tax for each purchase and is generally paid shortly after settling your property. Like other taxes, the money collected from Stamp Duty usually goes towards funding things like the state’s infrastructure or services.
Most state and territory governments provide a level of support for eligible people buying their first home with a First Home Owner Grant. Some offer a grant as well as a concession on Stamp Duty. As you’d imagine, the eligibility criteria and the concession itself vary from state to state. Concessions can also vary from year to year. You’ll find links to your state government below for more detailed information.
As mentioned above, qualifying for the FHOG or a Stamp Duty Concession, varies depending on where you live. However, some conditions are the same around Australia, as a rule:
This table summarises what’s available for eligible first home buyers in each state or territory. Actual figures may vary over time, and eligibility criteria differs, so make sure you click the links for more detailed information and eligibility status. Information was last updated October 2021.
| STATE OR TERRITORY | FHOG | STAMP DUTY CONCESSION |
|
NEW SOUTH WALES |
$10,000 FHOG for new home or land valued at less than $600,000. (Combined house/land value not to exceed $750,000) |
Exemption for first-time buyers where new home is less than $800,000 or existing home is less than $650,000. Other concessions for higher valued homes, and vacant land. Check link below |
|
VICTORIA |
new dwellings worth up to $750,000  |
Exemption for first home buyers of homes up to $600,000. Concession for homes valued between 600,001 and $750,000 |
|
QUEENSLAND |
Exemptions available for homes up to $550,000 or vacant land up to $400,000 |
|
|
SOUTH AUSTRALIA |
Up to $15,000 towards buying or building a new home worth up to $575,000 |
No first home buyer exemption, |
|
WESTERN AUSTRALIA |
$10,000 FHOG for buyers of homes worth up to $750,000, or up to $1,000,000 if North of the 26th parallel. |
Exemptions and concessions available for homes valued below $530,000 or land worth less than $400,000 |
|
TASMANIA |
Up to 50% discount on Stamp Duty for properties worth $500,000 or less. |
|
|
NORTHERN TERRITORY |
No longer applicable. For more information please click here to view the NT state government website. |
|
|
ACT |
FHOG replaced by ‘HOME BUYER CONCESSION SCHEME’ gives Stamp Duty relief to eligible applicants |
Some other factors that could influence your eligibility, depending on where you live, include but are not limited to:
Check your home state for Stamp Duty and First Home Owners eligibility.
The following government pages will give you details, check carefully. Some pages have calculators which will help you work out if you’re eligible for a grant or concession.
Whether you qualify for a First Home Owner Grant or a Stamp Duty concession, or even if you don’t qualify for either, you’ll still want to do some careful shopping around to find a mortgage that suits you. If you want help comparing, you’re in the right place. iSelect has partnered with Lendi to make this process a whole lot easier.* Get started comparing home loans from 35+ lenders online the easy way, or give Lendi a call on 1300 186 260 (08:30-18:30) .
Last updated: 15/11/2021
