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Stamp
Duty
All transfers of land (including gifts)
attract duty. Unless an exemption or concession** applies, the transaction is charged with duty based on the greater
of:
- the market value of the property, or
- the consideration (price paid) - including any
GST.
The purchaser or transferee is liable to pay the duty within 3
months of settlement.
For the purchase of any other property (i.e. not your
Principal place of residence) for contracts entered into on or after 6 May
2008
The rate of duty charged is on a sliding scale down from a top
rate of 5.5% for property valued at more than $960,000 to a base rate of 1.4% for properties
valued at not more than $25,000. See table of Duty Rates.
** Exemptions and concession
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Family farm exemption |
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Pensioner exemption and concession |
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First home owner with family concession |
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Principal place of residence exemption or concession |
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Corporate reconstruction exemption |
| ° |
Charities and friendly societies |
| ° |
Duty concession for off the plan sales |
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