Finance StrategyBeginner
Stamp Duty by State — What You'll Actually Pay
Stamp duty (or transfer duty) is a state government tax you pay when you buy property. It's one of the biggest upfront costs investors forget to budget for, and it varies significantly depending on where you buy.
How stamp duty works
- It's calculated as a percentage of the purchase price (or market value, whichever is higher).
- Each state uses progressive brackets — higher-value properties pay a higher effective rate.
- You pay it once, at settlement. It's not an ongoing cost.
- Investment properties generally don't qualify for first home buyer exemptions.
Approximate costs by state
For a $700,000 investment property (not first home, not foreign buyer):
- Victoria (VIC): ~$37,000. VIC has some of the highest rates in Australia.
- New South Wales (NSW): ~$26,000. NSW abolished stamp duty for first home buyers under $800k (owner-occupiers only).
- Queensland (QLD): ~$18,000. QLD is generally more affordable for investors.
- South Australia (SA): ~$30,000. SA has fewer concessions for investors.
- Western Australia (WA): ~$26,000. WA offers concessions for first home buyers on new builds.
First home buyer concessions
- Most states offer reduced or zero stamp duty for first home buyers — but usually only for owner-occupiers, not investors.
- If you're buying your first property as an investment, you'll typically pay the full investor rate.
- Thresholds and rules change frequently — check your state revenue office before making assumptions.
How to factor stamp duty into your deal
- Always include stamp duty in your upfront cost calculations, not just the deposit.
- A typical investor should budget 3–5% of the purchase price for stamp duty alone.
- PropPulse's Deal Analysis tool calculates stamp duty automatically based on the property's state.
Related guides
Education only: stamp duty rates change and vary by individual circumstances. Always verify current rates with your state revenue office or conveyancer before committing to a purchase.