Stamp Duty is a State Government tax payable on various dutiable transactions, including the transfer of property. Stamp duty application and rates vary depending on the State or Territory. To find out more information about Stamp duty in your State or Territory visit your State Office of State Revenue website.
First Home Buyers
As an incentive for first home buyers, most Australian States and Territories offer stamp duty concessions to those purchasing their first property. For properties and vacant land under a designated maximum, you may be exempt from paying stamp duty or be eligible for a stamp duty discount.
To find out more about stamp duty exemptions and rebates in your State or Territory, see these useful contact numbers.
NSW Buyers excluding First Home Buyers
Effective from 1 July 2009, people buying a newly-constructed property with a value not exceeding $600,000, may be eligible to receive a 50 per cent stamp duty reduction, saving up to $11,245 per property. This is known as the NSW Housing Construction Acceleration Plan (HCAP) and is an initative of the NSW Government to stimulate the housing sector.
HCAP is only available until 30 June 2010, and agreement for sale must be completed by 31 December, 2011, so get in quick. St.George has a hot home loan offer to help you take advantage of this great opportunity.
For more information about HCAP, visit http://www.osr.nsw.gov.au/benefits/hcap/
Use our handy Stamp Duty Calculator to determine how much stamp duty you will pay.