You save for years, scrape together a deposit, and then a single government bill lands that can run into the tens of thousands. That is stamp duty, and getting your head around what stamp duty in Australia 2026 throws at you is the difference between a clean settlement and a nasty surprise three weeks out.
Here is the catch most buyers miss: there is no national rate. What you pay depends entirely on which state or territory you buy in, what the place is worth, and whether you qualify for a first home buyer concession. This guide breaks it down state by state, with the real thresholds for NSW, Victoria and Queensland, so you know roughly what you are up for before you fall in love with a listing.
What is stamp duty (transfer duty) in Australia?
Stamp duty, known formally as transfer duty in most states, is a tax charged by your state or territory government when property changes hands. It is calculated as a percentage of either the purchase price or the property's market value, whichever is higher. So you cannot dodge it by writing a cheeky low figure on the contract.
The name varies by jurisdiction. NSW, Queensland and a few others call it transfer duty. People everywhere still call it stamp duty out of habit, a hangover from the days when documents were physically stamped to prove the tax had been paid.
Why it costs more than every other upfront fee
For most buyers, stamp duty is the single biggest line item after the deposit itself. It sits alongside conveyancing fees, building and pest inspections, and lender charges, but it dwarfs the lot. On a mid-priced home it can easily exceed what you would pay a buyer's agent and a solicitor combined.
That is exactly why first home buyer concessions matter so much. Removing or reducing duty can free up the better part of a year's savings. If you are still building your deposit, it is worth reading about the real cost of saving a deposit before you assume duty is just a small rounding error on top.
How the calculation actually works
The "whichever is higher" rule is the part people forget. If you buy from a family member at a mate's rate, or inherit a discount through some other arrangement, the state revenue office will still assess duty against the genuine market value. They are not interested in the favour your uncle did you.
Rates are also progressive, which brings us to the next point.
How stamp duty in Australia 2026 differs from state to state
Stamp duty is a state and territory tax, not a federal one. Each jurisdiction sets its own rates and concessions, and reviews them at budget time. That is why the identical $750,000 purchase can attract a very different bill in Brisbane than it does in Melbourne or Sydney.
Progressive rates that rise with the property price
Duty is progressive, meaning the rate climbs as the price climbs. A cheaper property is taxed at a lower effective rate; an expensive one is taxed harder. Because the brackets differ by state, the same price can land you in a generous bracket in one place and a punishing one in another.
The practical upshot: the same purchase costs a different amount of duty depending on where you buy. There is no shortcut around checking the rules for your specific state. Below, we go through the three biggest property markets in detail, then point you to the official source for the rest.
First home buyer concessions in NSW
NSW runs one of the more generous schemes for first home buyers through Revenue NSW, under the First Home Buyers Assistance Scheme. If you are buying your first home in Sydney or anywhere in the state, this is where the real savings live.
Full exemption up to $800,000 and taper to $1,000,000
In NSW, eligible first home buyers pay no transfer duty at all on a new or existing home valued up to $800,000. Above that, a concessional (reduced) rate kicks in, tapering out between $800,000 and $1,000,000. Once the value tips over $1,000,000, full standard duty applies and the concession is gone.
Here is the rough shape of it:
| NSW first home buyer (home) | Duty payable |
|---|---|
| Up to $800,000 | Nil (full exemption) |
| $800,001 to $1,000,000 | Concessional, reduced rate that tapers |
| Above $1,000,000 | Full standard transfer duty |
These thresholds are current for 2026, but they are set at state budget time and can change. Confirm the figures against Revenue NSW before you commit to anything.
New and off-the-plan homes
New and off-the-plan homes valued up to $800,000 also attract no duty for eligible first home buyers, the same ceiling that applies to an existing home. Vacant land you intend to build on works differently, with lower price points, so check the current land figures with Revenue NSW rather than assuming the home thresholds carry across.
If you are weighing up a brand-new apartment, the savings can stack in your favour, especially when you pair the right home loan structure with a duty concession. The price threshold is only one part of eligibility, though. Residency and citizenship conditions also apply, and you will need to check those on the official Revenue NSW page. If your budget is tight, it is worth reading how other buyers have weighed up shared-equity routes against going it alone before you settle on a strategy.
First home buyer concessions in Victoria
Victoria, administered by the State Revenue Office Victoria, has run a stable scheme for years. The thresholds are lower than NSW, which reflects the different price brackets the SRO chose to target.
Full exemption under $600,000 and sliding concession to $750,000
Victorian first home buyers get a full duty exemption on homes valued up to $600,000. Between $600,001 and $750,000, a concession applies on a sliding scale that gradually reduces to zero at the $750,000 mark. Buy above $750,000 and you pay standard duty.
| Victoria first home buyer (home) | Duty payable |
|---|---|
| Up to $600,000 | Nil (full exemption) |
| $600,001 to $750,000 | Sliding-scale concession, reducing to nil |
| Above $750,000 | Full standard duty |
There is a residency catch worth flagging. Victoria applies an owner-occupier residency condition, so you cannot buy the home, rent it out straight away, and still keep the concession. The exact residence period matters, so check the current requirement with the State Revenue Office Victoria, particularly around the May and June budget cycle.
The off-the-plan duty concession (duty on land value)
Victoria has a separate sweetener for off-the-plan buyers. The off-the-plan duty concession can let duty be calculated on the land value at the contract date, rather than the full finished value of the completed property. Because the land is worth far less than the finished apartment, your duty base shrinks accordingly.
For an apartment bought early in a development, that can be a meaningful saving. The catch is timing and eligibility, so read the SRO's own explainer on the off-the-plan concession before you assume it applies to your purchase.
First home buyer concessions in Queensland
Queensland, through the Queensland Revenue Office, lifted its thresholds and now sits between NSW and Victoria on generosity. There is also a grant for new builds that can shift what is within reach.
No duty up to $700,000, discounted to $800,000
Buy your first home in Queensland for $700,000 or less and you pay no transfer duty at all. Between $700,000 and $800,000, a discounted rate applies on a sliding scale. Above $800,000, standard rates take over.
| Queensland first home buyer (home) | Duty payable |
|---|---|
| Up to $700,000 | Nil (first home concession) |
| $700,001 to $800,000 | Discounted, sliding-scale rate |
| Above $800,000 | Full standard duty |
The $30,000 First Home Owner Grant for new homes
Queensland also runs a First Home Owner Grant of $30,000 for eligible new homes valued under $750,000. It is paid on top of any duty concession, so a Queensland first home buyer eyeing a new build can stack the two forms of help together.
Grant amounts, eligibility and any closing dates are reviewed by the government, so do not bank on a figure you read months ago. Confirm the current amount and the rules with the Queensland Revenue Office before you sign anything, because the contract date often matters as much as the settlement date. If you are looking at a new build but unsure whether your finance can move quickly, a mortgage broker can tell you fast whether your timeline is realistic.
Foreign buyer surcharge duty: what overseas buyers pay extra
If you are not an Australian citizen or permanent resident, there is usually an extra layer. Foreign buyers generally pay an additional surcharge duty on top of standard transfer duty, and each state sets its own rate.
Because that surcharge is calculated on the full value of the property, it can add a substantial sum to an already large bill, so it pays to price it in early rather than discover it at contract. Surcharge rates vary by state and change periodically, so check the relevant state revenue office for the current rate that applies to you rather than assuming a single national figure. As always, this is general information and not personal advice, so confirm your position with the relevant state revenue office or a licensed professional.
The other states and territories at a glance (SA, WA, TAS, ACT, NT)
South Australia, Western Australia, Tasmania, the ACT and the Northern Territory each set their own duty rates and first home buyer concessions. The thresholds and brackets are different in every one, and they change at budget time, so the only reliable move is to use the official calculator for the relevant state or territory revenue office.
We are deliberately not quoting specific thresholds for these five, because the rules shift and a wrong number could cost you. Go straight to the source for current figures. The principle holds everywhere: duty is progressive, and most first home buyers get some relief, with the value of the place driving the final bill.
Why the ACT is phasing out stamp duty for an annual land tax
The ACT is the odd one out. It is gradually replacing upfront stamp duty with an annual land tax, spread over many years rather than charged in a single lump at purchase. It is a multi-year reform and not a finished switch, so do not assume duty has been abolished there. The ACT still charges duty during the transition, so check the ACT Revenue Office for the current-year figure before you budget.
How to estimate your stamp duty: official state calculators
The cleanest way to estimate your duty is to use the official calculator for the relevant state or territory revenue office. Revenue NSW, the State Revenue Office Victoria and the Queensland Revenue Office each publish one, and they apply the current rates and concessions automatically. Third-party calculators are handy for a quick comparison, but the official tools are the ones that reflect the latest budget changes.
A sensible order of operations:
- Find your state's revenue office calculator. Search the official site directly, not an ad-laden lookalike.
- Enter the purchase price and your buyer status. First home buyer, investor, foreign buyer, owner-occupier; the concessions hinge on this.
- Factor it into your full budget. Add duty to your deposit, lender fees and conveyancing so you know your true cash-to-complete figure.
- Sense-check your repayments. Once duty is accounted for, planning your repayments with a calculator tells you what the loan actually costs month to month.
If the numbers are tight, it is worth understanding why some government schemes have not worked for everyone before you lean on one, and pairing the right scheme with a duty concession is where a lot of first home buyers find their breakthrough. A good buyer's agent through GoMatch can also keep you inside the price brackets that trigger the concessions, which is easier said than done in a competitive market.
Frequently asked questions about stamp duty in 2026
Is stamp duty the same as transfer duty?
Yes. Transfer duty is the formal name used in most states, and stamp duty is the everyday term people still use. They refer to the same tax: a state charge on the transfer of property, calculated on the higher of the purchase price or market value. The wording on your settlement statement may say transfer duty, but it is the cost you have been calling stamp duty all along.
Do first home buyers always pay no stamp duty?
No. First home buyers pay no duty only when they meet both the price threshold and the other eligibility conditions for their state. Buy above the full-exemption threshold and you pay a reduced or full rate. Eligibility also depends on factors beyond price, such as residency requirements, citizenship status, whether the home is new or previously owned for certain grants, and owner-occupier residency periods. Hitting the price threshold alone does not guarantee the concession, so always confirm on the official eligibility page.
When is stamp duty payable?
The timing depends on your state, but duty is generally due shortly after you sign the contract or at settlement, within a set number of days dictated by the relevant revenue office. It is paid as part of the settlement process, usually handled by your conveyancer or solicitor. Miss the deadline and interest can accrue, so build it into your settlement plan from the start and check the exact due date with your state revenue office.
The bottom line for buyers in 2026
Stamp duty is one of the largest cheques you will write to buy a home, and it is one of the few costs you can sometimes wipe out entirely. The first home buyer concessions in NSW, Victoria and Queensland are genuinely valuable, but they hinge on price thresholds and eligibility rules that differ everywhere and shift at budget time.
Queenslanders chasing a new build have an extra lever to pull, with the $30,000 First Home Owner Grant for eligible new homes under $750,000, so check the current rules with the Queensland Revenue Office before you sign. Wherever you are buying, run your numbers through the official calculator, confirm the current thresholds with your state revenue office, and treat this as a starting point rather than the final word. This is general information only, not financial, legal or tax advice, so speak to a licensed professional or the relevant revenue office before you sign.
Sources
- Revenue NSW, transfer duty, First Home Buyers Assistance Scheme and surcharge purchaser duty (June 2026)
- State Revenue Office Victoria, first home buyer duty exemption and concession, and the off-the-plan duty concession (June 2026)
- Queensland Revenue Office, first home concession and First Home Owner Grant (June 2026)
- SBS News, "Australia's first full stamp duty exemption for some home buyers" (2026)
- money.com.au, "Stamp Duty Calculator Australia (All States) 2026" (2026)
