Buyer has found a property at $720,000 in Victoria and wants to know their stamp duty before making an offer. They are a first home buyer but are not sure if they qualify for an exemption at that price.
Stamp Duty Estimator
Stamp Duty
Stamp duty (transfer duty) is a state government tax on property purchases. Rates and concessions vary significantly by state and buyer type. First home buyers often receive full or partial exemptions up to certain thresholds.
⚠️ These are estimates based on standard rates. Always verify with your state revenue office before settlement. ASIC MoneySmart
Results are estimates for planning purposes. Verify with current standards and a qualified professional.
1 What this calculator does
Estimates Australian stamp duty (transfer duty) by state using 2024 progressive bracket rates. Applies first home buyer (FHB) exemptions where the purchase price is below the state threshold. Covers all eight states and territories.
2 Formula & professional reasoning
Stamp duty = Sum of (Amount in each bracket x Rate for that bracket)
FHB full exemption thresholds (2024 approx):
NSW $650K | VIC $600K | QLD $700K | WA $430K | SA $650K | TAS $600K | NT $650K | ACT: annual land rates instead
Above threshold: standard progressive rates apply
Stamp duty is calculated progressively -- like income tax brackets. The first slice of the property value is taxed at the lowest rate, higher slices at progressively higher rates. FHB exemptions remove the duty entirely below the state threshold, with partial concessions phasing out above it. The ACT replaced stamp duty with an annual land value tax for all buyers in 2012, making it unique among Australian states.
3 Worked examples
⚠️ Illustrative example only — not clinical or professional instruction.
Basic
VIC FHB under exemption threshold
Given: State: VIC | Price: $580,000 | Buyer: first home buyer
Working:
VIC FHB full exemption threshold: $600,000 | $580,000 < $600,000 -- full exemption applies | Duty: $0Answer: Stamp duty: $0 -- full FHB exemption applies
💡 VIC FHB exemption saves approximately $28,000 at this price point compared to a standard purchaser.
Standard
NSW standard purchaser at $850,000
Given: State: NSW | Price: $850,000 | Buyer: standard
Working:
NSW brackets: $0-$14K at 1.25% + $14K-$32K at 1.5% + $32K-$85K at 1.75% + $85K-$319K at 3.5% + $319K-$850K at 4.5% | Sum: $175+$270+$927.50+$8,190+$23,895Answer: Estimated stamp duty: ~$33,457
💡 NSW standard rate at $850,000 is substantial -- a significant upfront cost beyond the deposit. Factor this into total cash required at settlement.
Advanced
QLD FHB above threshold -- partial concession
Given: State: QLD | Price: $750,000 | Buyer: first home buyer
Working:
QLD FHB full exemption below $700,000 | $750,000 is above -- partial concession applies | Standard duty on $750K: approx $17,325 + ($750K-$540K) x 4.5% = $26,775 | Partial concession reduces thisAnswer: Estimated duty after concession: approximately $13,000-$17,000 -- verify with QLD OSR
💡 Above the full exemption threshold, calculate standard duty first then apply the state's concession formula. Always verify with the state Office of State Revenue before settlement.
4 Sanity check
FHB full exemption thresholds (2024 approx)
VIC $600K | NSW $650K | QLD $700K | WA $430K | SA $650K | TAS $600K | NT $650K | ACT no stamp duty
Thresholds change with each state budget -- verify at your state revenue office.
Stamp duty as % of purchase price
Typically 3-6% on mid-range properties | 4-7% on higher-value properties
Settlement timing
Stamp duty is due at settlement (typically 30-60 days after exchange)
Factor into total upfront cash needed alongside deposit and other costs.
Foreign purchaser surcharge
Foreign buyers pay an additional 7-8% surcharge in NSW, VIC and QLD
5 Common errors
| Error | Cause | Consequence | Fix |
|---|---|---|---|
| Assuming FHB exemption applies to all property types | Not checking eligibility criteria | Planning for $0 stamp duty when thousands are owed | FHB exemptions typically require the property to be used as a primary residence for a minimum period (usually 12 months). Investment properties and properties over the threshold do not qualify for full exemption. |
| Not verifying with the state revenue office before exchange | Relying on estimates without confirmation | Unexpected stamp duty bill at settlement | Use this calculator for planning only. Obtain a formal assessment from your state revenue office or conveyancer before exchanging contracts. |
| Forgetting stamp duty in the deposit calculation | Treating all savings as available deposit | Insufficient funds at settlement | Stamp duty comes from the same savings pool as the deposit. A $720,000 property may require $40,000+ in stamp duty on top of the deposit -- adjust available deposit accordingly. |
| Using market value instead of purchase price | Confusing the two for off-the-plan or under-market purchases | Duty calculated on wrong base | Stamp duty is calculated on the higher of the contract price or the unencumbered market value. For standard arm's length purchases these are the same. Off-the-plan purchases have specific rules. |
6 Reference & regulatory links
7 Professional workflow
Common tools used alongside this one: