What is stamp duty in QLD?
Stamp duty in Queensland (QLD), or transfer duty, is a state government tax applied to the sale or transfer of property, as well as other personal and business-related assets like vehicles.
How much is stamp duty in QLD?
Stamp duty in Queensland is charged as a percentage of the property value. A concessional rate applies on the first $350,000 of a residential property and general transfer duty rates apply thereafter.
Stamp duty costs in QLD will vary depending on:
- The property's value
- The type of property you purchase (e.g. house, apartment, vacant land)
- Whether you're buying a home or investment property
- Your residency status
- Your income and partner’s income
- Your eligibility as a first-home buyer
- Your eligibility for pensioner concessions
General stamp duty rates in Queensland
| Property value | Stamp duty payable |
|---|---|
$0- $5,000 | Nil |
$5,001 - $75,000 | $1.50 for each $100, or part of $100, over $5,000 |
$75,001 - $540,000 | $1,050, plus $3.50 for each $100, or part of $100, over $75,000 |
$540,001 - $1,000,000 | $17,325, plus $4.50 for each $100, or part of $100, over $540,000 |
$1,000,001+ | $38,025, plus $5.75 for each $100, or part of $100, over $1,000,000 |
$500,000 vs $750,000 property stamp duty example calculation in QLD
| Property price | Owner-occupier stamp duty | Investment stamp duty |
|---|---|---|
$500,000 | $15,925 | $15,925 |
$750,000 | $26,775 | $26,775 |
A full stamp duty exemption applies for eligible first-home buyers purchasing or building a new home valued under $700,000.
First-home buyer stamp duty concession rates in QLD
Duty is calculated at the home concession rate, minus the additional concession amount. For contracts signed on or after 9 June 2024.
| Property value | First-home buyer stamp duty concessions |
|---|---|
Under $700,000 | No stamp duty payable |
Up to 709,999 | $17,350 |
$710,000 - $719,999 | $15,615 |
$720,000 - $729,999 | $13,880 |
$730,000 - $739,999 | $12,145 |
$740,000 - $749,999 | $10,410 |
$750,000 - $759,999 | $8,675 |
$760,000 - $769,999 | $6,940 |
$770,000 - $779,999 | $5,205 |
$780,000 - $789,999 | $3,470 |
$790,000 - $799,999 | $1,735 |
$800,000+ | Nil |
First-home buyer stamp duty calculation (with exemption & concession)
See example calculations
Here’s an example of how the stamp duty is calculated on a $700,000 first home (which qualifies for a full exemption):
- $10,150 for the first $540,000 of the property value
- $7,200 for the remaining $160,000 ($4.50 for every $100 over $540,000)
- = $17,350 (the transfer duty using the home concession rate)
- – $17,350 (the first home concession amount for homes valued less than $709,999)
- = $0 (no transfer duty is payable when a first home concession is claimed on a property under $700,000)
Here’s an example of how the stamp duty is calculated on a $750,000 first home (which qualifies for a concession):
- $10,150 for the first $540,000 of the property value
- $9,450 for the remaining $210,000 ($4.50 for every $100 over $540,000)
- = $19,600 (the transfer duty using the home concession rate)
- As the first home is valued between $750,000 to $759,999, a further concession of $8,675 applies
- = $10,925 transfer duty is payable when a first home concession is claimed on a $750,000 property
Home concession rates in QLD
| Property value | Duty rate |
|---|---|
Up to $350,000 | $1.00 for each $100 or part of $100 |
$350,000+ - $540,000 | $3,500 + $3.50 for every $100, or part of $100, over $350,000 |
$540,000 - $1,000,000 | $10,150 + $4.50 for every $100, or part of $100, over $540,000 |
$1,000,000+ | $30,850 + $5.75 for every $100, or part of $100, over $1,000,000 |
Who pays stamp duty in QLD?
It’s always the buyer (person or business) or whoever receives the asset (even as a gift) who pays the stamp duty in QLD (unless an exemption applies). It’s important to note that stamp duty is an additional cost to your deposit and property price.
If you're buying a property in QLD, your conveyancer will generally help you with the stamp duty paperwork and advise you on lodging it with the revenue office on time. Be sure to budget for stamp duty or ask your lender to increase the principal amount of your home loan to account for stamp duty. This will increase your home loan repayments.
When is stamp duty in QLD payable?
In QLD, stamp duty is payable within 30 days of settlement or within 90 days of completion for off-the-plan properties.
How do you pay stamp duty in QLD?
Stamp duty can be paid by direct deposit, cheque, credit card, and other major payment options. In most cases, you'll receive a notice from the Queensland Revenue Office delivered to the address of the purchased property or by email. This letter will often contain:
- The amount of stamp duty payable
- Details on the tax and how it was calculated
- Concessions or exemptions included in the calculation
- Payment options
- Payment due date
- Information regarding late payments and associated penalties or charges
- Reference details for the notice and payment
What are the stamp duty exemptions in QLD?
There are a few stamp duty exemptions and concessions available in Queensland, including:
- First-home buyer exemption: Full stamp duty exemption applies for eligible first homes valued under $700,000 (that's a maximum saving of up to $17,350).
- First-home vacant land exemption: Full stamp duty exemption applies for eligible first-home buyers purchasing vacant land under $350,000 (concessions apply thereafter for land valued up to $500,000).
- Matrimonial exemption: Stamp duty exemptions apply for property transfers following a divorce or separation.
- Death of a property owner exemption: Full exemption for transfers of property following a person’s death.
- Home concession: Applies to the first $550,000 on a property, with a maximum concession of $15,925. Standard transfer duty rates apply to the remaining value.
- First-home concession: Applies to eligible first-home purchases valued under $800,000. There’s also a $30,000 first-home buyer grant in QLD that may help further reduce the cost of buying a home.
- First-home vacant land concession: Applies to vacant land valued under $500,000.
There is no separate transfer duty rate for senior or pensioner concession card holders.
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