Yes, stamp duty (also known as transfer duty) varies significantly across Australia's states and territories. Each jurisdiction sets its own rates, thresholds, exemptions, and surcharges, which can substantially impact the amount payable on a property transaction.
Here's an overview of the structure of stamp duty by state as of 2025:
Stamp Duty Valuation NSW
- Standard Rates: Progressive rates up to 5.5%.
- Premium Property Rate: 7% applies to residential properties over $3 million.
- Foreign Purchaser Surcharge: 9% on residential property acquisitions.
- First Home Buyer Assistance: Exemptions or concessions for homes up to $800,000.
Stamp Duty Valuation Victoria (VIC)
- Standard Rates: Up to 5.5% for properties over $960,000.
- Premium Rate: 6.5% for properties over $2 million.
- Foreign Purchaser Surcharge: 8% on residential properties.
- Off-the-Plan Concessions: Stamp duty calculated on land value before construction for eligible purchases.
Stamp Duty Valuation Queensland (QLD)
- Standard Rates: Up to 5.75% for properties over $1 million.
- Foreign Purchaser Surcharge: 7% on residential property acquisitions.
- First Home Buyer Concessions: Exemptions for homes up to $700,000; concessions taper up to $800,000.
Stamp Duty Valuation Western Australia (WA)
- Standard Rates: Up to 5.15% for properties over $725,000.
- Foreign Purchaser Surcharge: 7% on residential properties.
- First Home Owner Grant: Exemptions for homes up to $430,000; concessions up to $530,000.
Stamp Duty Valuation South Australia (SA)
- Standard Rates: Up to 5.5% for properties over $500,000.
- Foreign Purchaser Surcharge: 7% on residential properties.
- First Home Buyer Exemptions: Full exemptions for new homes and vacant land purchases; no property value cap.
Stamp Duty Valuation Tasmania (TAS)
- Standard Rates: Up to 4.5% for properties over $725,000.
- Foreign Purchaser Surcharge: 8% on residential and primary production land.
- First Home Buyer Concessions: 50% discount on properties up to $600,000
Stamp Duty Valuation Australian Capital Territory (ACT)
- Standard Rates: Varies; up to 5% for properties over $1.9 million.
- Foreign Purchaser Surcharge: 0.75% on residential land.
- First Home Buyer Concessions: Full exemptions for eligible buyers under certain income thresholds.
Stamp Duty Valuation Northern Territory (NT)
- Standard Rates: Up to 5.95% for properties over $500,000.
- Foreign Purchaser Surcharge: Not applicable.
- First Home Owner Grant: $10,000 for new homes; no stamp duty concessions currently available.
Note: Stamp duty calculations are typically based on the higher of the property's purchase price or its unencumbered market value. It's essential to consult with a qualified property valuer to obtain an accurate stamp duty valuation report, especially in transactions involving related parties or non-standard conditions.
For precise calculations and to explore potential exemptions or concessions, it's advisable to use the official stamp duty calculators provided by each state's revenue office or consult with a property valuation expert.