How much is Stamp Duty in New South Wales?
Stamp Duty in New South Wales (also known as Transfer Duty or Duty) is a tax paid upon purchase of a property to NSW Revenue taxes and duties.
The amount of stamp duty to be payed in New South Wales, Australia depends on the dutiable value of the property, whether you are first home owner or foreign buyer.
New South Wales Stamp Duty Rate
| Dutiable Value | Duty Threshold |
|---|---|
| $0 – $14,000 | $1.25 for every $100 or part of the dutiable value |
| $14,001 – $30,000 | $175 plus $1.50 for every $100 or part , by which the dutiable value exceeds $14,000 |
| $30,001 – $81,000 | $415 plus $1.75 for every $100 or part, by which the dutiable value exceeds $30,000 |
| $81,001 – $304,000 | $1,307 plus $3.50 for every $100 or part, by which the dutiable value exceeds $81,000 |
| $304,001 – $1,013,000 | $9,112 plus $4.50 for every $100 or part, by which the dutiable value exceeds $304,000 |
| over $1,013,000 | $41,017 plus $5.50 for every $100 or part, by which the dutiable value exceeds $1,013,000 |
| over $3,040,000 | $152,502 plus $7.00 for every $100, or part, by which the dutiable value exceeds $3,040,000. |
Stamp Duty (NSW) for First Home Buyers
First Home Buyers Assistance
The First Home New Home scheme will be replaced by the First Home Buyers Assistance scheme. First home buyers will not have to pay duty for both new and existing homes for properties up to $650,000. The duty will be reduced for amounts between $650,000 and $800,000.
Eligible purchasers buying a vacant block of residential land to build their home on will pay no duty on vacant land valued up to $350,000, and will receive concessions on duty for vacant land valued between $350,000 and $450,000.
To calculate the First Home Buyers Assistance concession on a home between $650,000 and $800,000, multiply the purchase price by 21% and subtract $136,510. To calculate concession on land between $350,000 and $450,000, multiply the purchase price by 0.1574 and subtract $55,090.
First Home Owner Grant (New Homes)
a) First home owners can access a $10,000 grant for:
b) The purchase price of the new home must be no more than $600,000.
c) If buying land to build a new home, the total price – including the land and home – must be no more than $750,000.
New South Wales Stamp Duty for Foreign Purchaser
The current foreign purchaser stamp duty rate in NSW, Australia is 8 per cent.
