Stamp Duty Calculator

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How much stamp duty could I pay?

Frequently Asked Questions

Stamp duty is a form of tax that is paid to the government when a property is sold. It is the buyer who foots the bill for stamp duty, and thus, it is an important (and often costly) expense to take into account when buying a home. When purchasing a property, you’ll usually pay a tax called stamp duty. Stamp duty is the tax of a transaction on the transfer of a property. The amount of tax that needs to be paid varies according to the type and value of the transaction involved and the state or territory you’re buying in. Some buyers may qualify for a stamp duty concession or exemption. First home buyers, for example, can receive exemptions in some areas of Australia depending on the value of the property they’ve purchased. Pensioners and health card holders may also be eligible for a stamp duty exemption. Use our stamp duty calculator below to estimate how much you’ll be paying in taxes for a home purchase. By working out how much you’ll potentially be out of pocket, you can better plan what you can afford and how it will impact your finances.
If you don’t pay stamp duty by the designated time (this is often 30 days however, it depends on your state or territory) you will begin to incur interest on the amount you owe, ultimately leading to you paying an even greater sum. In some cases, you may even be fined additional penalties on top of this.
No, stamp duty is not paid yearly. Stamp duty is paid each time a house is sold – and it is the buyer who pays it. The only way you would end up paying stamp duty yearly is if you just so happened to buy a new house every year.
Depending on the value of the property you are buying, as well as the state or territory you are buying in, stamp duty is often waived for first home buyers. For example, as of the date this article was written, in NSW if your home is valued at less than $650,000, you can apply for a full exemption from the tax, meaning you don’t pay stamp duty. Please note, this could be different for non-residents who may have to pay an 8% surcharge on the value of any residential land they buy. This is known as surcharge purchaser duty and it is payable in addition to any transfer duty.
No, although stamp duty is paid when a house is sold, it is not the seller who incurs this cost – it is the buyer – therefore the seller does not pay stamp duty. There are some special rules in some states dealing with non-resident vendors, where stamp duty could be paid by the purchaser. Your Conveyancer is responsible to ensure you do not incur this liability.
Stamp duty is calculated by the government and is based on the value of your home. The eChoice Stamp Duty Calculator can help you estimate the cost of stamp duty.
The timeframe during which you need to pay stamp duty by is set by the state government and varies in every state and territory. In most cases, it is within 30 days of the sale of the house. For example, in NSW stamp duty must be paid within three months of settlement. Or, if the house is bought ‘off the plan’, stamp duty must be paid within three months of the completed agreement.
Stamp duty is paid to the relevant state government in which your property is located.
No, there is no way of getting around paying stamp duty unless you are eligible to apply for a concession such as through the First Home Buyer Assistance Scheme – stamp duty is a tax that all Australian home buyers must pay.
According to the eChoice Stamp Duty Calculator, if a non-first home buyer in NSW was buying an established house that was to be their primary residence at the price of $600,000, their stamp duty would be $22,490.
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