Question 1

What is stamp duty?

Accepted Answer

Stamp duty is a state government tax paid when purchasing property in Australia. The amount varies by state/territory and depends on factors like property value, property type (residential/commercial), and buyer status (first home buyer/investor).

Question 2

When do I need to pay stamp duty?

Accepted Answer

Stamp duty is typically paid within 30 days of settlement in most states. However, some states like NSW require payment within 3 months of signing the contract. First home buyers may be eligible for exemptions or concessions.

Question 3

Are there stamp duty exemptions for first home buyers?

Accepted Answer

Yes, most states offer stamp duty concessions or exemptions for first home buyers. The benefits vary by state and usually depend on the property value. For example, in Victoria, first home buyers pay no stamp duty on properties under $600,000.

Question 4

How is stamp duty calculated?

Accepted Answer

Stamp duty is calculated using a tiered rate system based on the property purchase price. The rate increases as the property value increases. Each state has different rates and thresholds, and additional fees may apply for foreign buyers.

Question 5

Can I add stamp duty to my mortgage?

Accepted Answer

While it's possible to add stamp duty to your mortgage, it's not recommended as it will increase your loan amount and interest payments over time. Most lenders prefer stamp duty to be paid upfront as part of your deposit and purchasing costs.

Fee breakdown	Amount
Stamp duty	$0.00
Mortgage Registration Fee	$165.40
Transfer Fee	$165.40
Total Government Fees	$330.80

Stamp Duty Calculator

Details

Stamp Duty Calculation

Government Grant