What is stamp duty/transfer duty?

Transfer duty, sometimes called stamp duty, can be confusing – and the rules and regulations differ from state to state. Below we pull out the basics for you, and direct you where you need to go, so you can skip the red tape to get answers.

Queensland

Transfer duty, sometimes called stamp duty, is a tax on dutiable transactions such as:

• a transfer of dutiable property
• an agreement for the transfer of dutiable property
• a partnership acquisition
• the creation or termination of a trust of dutiable property
• a trust acquisition or surrender.

Previously, the Stamp Act 1894 imposed transfer duty in Queensland; it was then replaced by the Duties Act 2001.

Because the term ‘stamp duty’ applies to a wide range of transactions, the Duties Act separates duties into types so you can easily understand what duty is being charged on.

More information can be FOUND HERE.

New South Wales

You must pay transfer duty – once known as stamp duty – in NSW when you buy:

• property, including your home or holiday home
• an investment property
• vacant land or a farming property
• commercial or industrial properties, or
• a business, which includes land.

You must also pay transfer duty when you acquire land, or an interest in land, without buying it. For example:

• a declaration of trust
• a gift, or
• a transaction effecting a change in the beneficial ownership of a property.

In some circumstances, you may be eligible for a concession or exemption from transfer duty, such as:

• when you are a beneficiary of a deceased estate, or
• The transfer is between a married couple or de facto couple.

More information can be FOUND HERE.

Victoria

You pay land transfer duty when you buy a home, including your first home, but also when you buy a property such as an investment property or holiday home, primary production land with or without water entitlements, a business (including land and goods), or fixtures, including tenant's fixtures.

Land transfer duty waiver up to 50 per cent for residential property

You may be eligible for a land transfer (stamp) duty waiver for residential property with a dutiable value of $1 million or less, whether or not you use it as your principal place of residence.

More information can be FOUND HERE.

South Australia

Stamp duty is a charge on certain documents and transactions. Stamp duty is charged at either a flat rate or an ad valorem rate (based on the value of the transaction) depending on the particular document or transaction.

More information can be FOUND HERE.

Western Australia

The time when liability for duty arises varies depending on the type of dutiable transaction. In most cases this is the date the document evidencing the transaction is signed.

For example, liability for duty on an agreement to transfer dutiable property, such as a contract for sale, will be when the agreement is first made (that is, when the contract is executed by both parties).

The person liable to duty is generally the purchaser, transferee or acquirer.

More information can be FOUND HERE.

Tasmania

Duty (previously known as "stamp duty") is a form of taxation charged by the State Government, under the Duties Act 2001, when someone acquires an interest in property, usually by buying a property.

The type of property and the way it is acquired can impact the way that duty is assessed.

Property types subject to duty include, but are not limited to:

• Easements and Covenants​
• Gifts and Inheritances
• Residential Property
• Shares
• Vacant Land
• Duty must normally be paid by the purchaser/transferee within three months of the transfer of the property.

Multiple purchases (aggregation) - where there is a series of, or multiple, transactions by the same transferee or transferee(s) who are associated persons within 12 months, these transactions may be grouped together, or aggregated, for the purposes of calculating duty.

More information can be FOUND HERE.

Australian Capital Territory

Conveyance duty, commonly known as stamp duty, is a tax you pay when you buy property in the ACT, whether it’s a home, land, or a commercial property. As part of the 2019-20 Budget, the government is continuing to reduce conveyance duty rates for residential properties.

Commercial properties with a dutiable value of $1,500,000 or less will pay no conveyance duty. Where the value is greater than $1,500,000 a flat rate of five per cent will apply.

More information can be FOUND HERE.