Stamp duties are payments made to governments upon the purchase of a house. It is money usually used for changing of property titles and other details of ownership. And most home buyers would have to pay stamp duties in form of tax after making their purchase except in a few situations. However, the amount you pay on stamp duties in Australia is dependent on the region. This is because different states have different rules regarding the payment of these duties and also have different exemption policies.
To use our stamp duty calculator you first need to be sure of the region you’re going to make your purchase from.
For the NSW, Queensland, Victoria, Tasmania, Northern Territory and Western Australian regions stamp duties are calculated based on the value of the property against market value and the higher figure is chosen.
In the ACT regions, stamp duties are also calculated the same way but no charges are levied on a building being erected on land which its stamp duty has been paid for.
However, in South Australia, it is based on the greater value of either property or of land
- To calculate your stamp duty you need the following information:
- Value of Property: how much you’re buying the property
- Are you first home buyer: if this is your first time
- Property type: if it’s for personal use or an investment
- Are you purchasing: what kind of property you hope to purchase
- Eligible pensioner: if you’re an eligible pensioner
- Total income of all purchasers: total annual income of all contributing buyers
- Number of dependent children: number of children depending on your income
- Is foreign purchaser: if you’re native or foreign to Australia
- Payment method: if you’re paying via paper or via electronic means
- Property location: where in Australia the property is located
- After you input all these figures the calculator gives you the following results:
- Stamp Duty on Property: the amount you pay on stamp duty
- Mortgage Registration: amount required to register the mortgage
- Transfer Fee: amount needed for transfer
- Total Government Fees: total amount paid to the government