Understanding Stamp Duty: What You Need to Know in NSW, VIC, and QLD
- May 9, 2025
1. Introduction
When you’re buying property in Australia, stamp duty isn’t just a “small add-on”—it’s often one of the biggest hidden costs you’ll face.
How big?
Think tens of thousands of dollars.
Enough to turn a “dream buy” into a “budget blowout” if you’re not careful.
And the worst part?
Stamp duty rules are different in every state. NSW, VIC, QLD — they all play by their own rules, with their own thresholds, exemptions, and (let’s be honest) confusing fine print.
That’s why smart buyers (and investors) plan for it before they fall in love with a property.
And why we built the Property Dollar Stamp Duty Calculator — to make life easier (and budgets safer).
In this guide, we’ll break down everything you need to know about stamp duty in NSW, VIC, and QLD — without the jargon.
Let’s get you one step closer to owning smarter.
2. What is Stamp Duty?
Stamp duty is a state government tax you pay when you buy property or land.
It’s calculated based on:
- The purchase price
- Property type (existing, new, off-the-plan)
- Buyer type (first-home buyer, investor, upgrader)
The more expensive the property, the higher the stamp duty.
In many cases, stamp duty can easily add $20,000–$50,000+ on top of the purchase price.It’s usually paid at settlement—meaning if you don’t plan for it upfront, you could be scrambling to find a lot of cash at the worst possible time.
3. How Stamp Duty Works in Australia
In Australia, each state and territory sets its own:
- Stamp duty rates
- Eligibility for concessions or exemptions
- Application process
Some key facts:
- Stamp duty is calculated on either the contract price or the property’s market value—whichever is higher.
- First-home buyers often get discounts or full exemptions (depending on price limits and eligibility).
- Investors usually pay full fare.
Because it’s state-based, a property in Sydney, Melbourne, or Brisbane will attract very different costs—even if the property value is identical.
4. Stamp Duty in New South Wales (NSW)
NSW Rates (General Guide):
| Property Value | Stamp Duty Payable |
|---|---|
| Up to $14,000 | $1.25 for every $100 |
| $14,001–$30,000 | $175 + $1.50 for every $100 over $14,000 |
| $30,001–$80,000 | $415 + $1.75 for every $100 over $30,000 |
| $80,001–$300,000 | $1,290 + $3.50 for every $100 over $80,000 |
| $300,001–$1 million | $8,990 + $4.50 for every $100 over $300,000 |
| Over $1 million | $40,490 + $5.50 for every $100 over $1 million |
(Source: Revenue NSW)
NSW First Home Buyer Benefits:
- First Home Buyer Assistance Scheme: Full or partial exemption for purchases under $800,000 (existing) and $1,000,000 (new homes).
- Optional annual property tax: For properties under $1.5 million, eligible first-home buyers can choose to pay an annual property tax instead of upfront stamp duty.
5. Stamp Duty in Victoria (VIC)
VIC Rates (General Guide):
| Property Value | Stamp Duty Payable |
|---|---|
| Up to $25,000 | 1.4% |
| $25,001–$130,000 | $350 + 2.4% of value over $25,000 |
| $130,001–$960,000 | $2,870 + 6% of value over $130,000 |
| $960,001–$2 million | 5.5% flat rate |
(Source: State Revenue Office Victoria)
VIC First Home Buyer Benefits:
- Stamp Duty Exemption: Full exemption for first-home buyers purchasing under $600,000.
- Stamp Duty Concession: Discounted rates for purchases between $600,001 and $750,000.
- Off-the-Plan Discounts: For eligible buyers, you only pay stamp duty on the land value at contract signing—not the full property value.
6. Stamp Duty in Queensland (QLD)
QLD Rates (General Guide):
| Property Value | Stamp Duty Payable |
|---|---|
| Up to $5,000 | Nil |
| $5,001–$75,000 | $1.50 for every $100 over $5,000 |
| $75,001–$540,000 | $1,050 + $3.50 for every $100 over $75,000 |
| $540,001–$1 million | $17,325 + $4.50 for every $100 over $540,000 |
| Over $1 million | $38,025 + $5.75 for every $100 over $1 million |
(Source: Queensland Revenue Office)
QLD First Home Buyer Benefits:
- First Home Concession: Big discounts for homes up to $550,000.
- Vacant Land Concession: For land purchases under $400,000.
Important: You must live in the home for at least 12 months to keep your concession.
7. Why Stamp Duty Planning Matters
Stamp duty can crush your budget if you don’t plan for it.
Example:
- You budget $800,000 for a home in Sydney.
- Forget stamp duty? You’ll need an extra ~$31,000 at settlement.
For first-home buyers or investors, miscalculating stamp duty can cause:
- Settlement delays
- Penalties
- Stress (and sometimes losing the property)
Smart buyers always calculate stamp duty early—before making an offer or signing anything.
8. How to Quickly Estimate Your Stamp Duty
Sure, you can dig through government websites and PDF calculators.
Or you can make life simple.
Use the Property Dollar Stamp Duty Calculator — designed to give you instant, accurate stamp duty estimates based on the latest state rules.
✅ NSW, VIC, QLD (and all others)
✅ Updated regularly
✅ Lightning fast👉 Download the Property Dollar app now and try it out before you even book your first inspection.
9. Final Tips Before You Buy
- Always calculate stamp duty before committing to a purchase.
- Double-check eligibility for concessions (especially first-home buyers).
- Budget extra for unexpected costs like lender fees or legal fees.
- Use Property Dollar’s calculators to avoid expensive surprises.
- When in doubt, speak to a solicitor or conveyancer before signing anything.
10. Conclusion
Stamp duty might not be the most exciting part of buying a property—but it’s one of the most important.
Planning for it properly could save you tens of thousands of dollars (and a lot of stress).
Use the tools available to you—like the Property Dollar Stamp Duty Calculator—and turn a hidden cost into a well-managed line item.
Happy house hunting (with no nasty surprises)! Download the Property Dollar app here to plan smarter and buy smarter.
