Stamp Duty Calculator

State and territorial governments impose stamp duty on the acquisition of real estate, as well as on other substantial transactions like a car or the transfer of a vehicle's registration. "Transfer duty" is another name for stamp duty. Historically, the tax has been levied on a variety of legal documents with an official revenue stamp affixed as proof of the transfer. It has been around for centuries. The amount of stamp duty paid in Australia varies greatly from state to state. The amount of stamp duty is heavily influenced by the property's value, with more expensive properties incurring higher rates. When dealing with real estate, there are a number of fees and charges involved that make the cost of a property reach new highs. Stamp duty is one of the fees and charges. It is a tax levied by the state governments in Australia on the procurement of real estate. The stamp duty percentage depends on the value of the property and the state a buyer is seeking property. Since it is levied by the State Government, the stamp duty on property transfer varies from one state to another. A property-seeker may utilise a stamp calculator to determine the amount of transfer duty required to pay.

Read on to get educated on the stamp duty on home and other real estate assets.

What is a Stamp Duty Calculator?

A stamp duty calculator is an Australian calculator available online which allows a buyer to check the stamp duty percentage they need to pay on a particular property. A home stamp duty calculator requires the following information to be entered.

• State in which the purchase is being made
• Property value
• Type of the property
• First-time home buyer or not
• Type of purchase
• Pension eligibility
• Total income
• Number of dependent children

A calculator may require additional information to be entered by the user.

What Transactions Might I Pay Stamp Duty On?

Stamp duty is a tax imposed by the State Government in Australia on certain transactions. The transactions listed below require a person to pay stamp duty.

• Insurance policies
• Registration and transfer of motor vehicle 
• Mortgages 
• Leases
• Property transfer such as real estate, business, or certain shares
• Hire purchase agreements

It must be noted that the amount of stamp duty varies depending upon the state involved in the transaction. The payee might even be exempted from or provided concession in stamp duty. 

How Does UM Oceania's Stamp Duty Calculator Work?

UM Oceania’s property stamp duty calculator is an online tool and can be operated by the user as per their convenience. This hassle-free tool can be accessed by following the below-mentioned steps:

• Enter the property value 
• Select the State or territory of the property
• Choose between the options - Investor or Home-Owner
• Select ‘Yes’ if you are a first-time home buyer
• Select the type of property
• Click on ‘Calculate’. The calculator will use the stamp duty formula and provide the user with an accurate result.

A user may be required to enter additional data according to the State or territory selected by them.

Features and Benefits of Stamp Duty Calculator

The stamp duty tax calculator property has many features and benefits up its sleeves. These benefits and features include the following.

• It provides accurate results 
• There is an availability of free access 
• The users are given an exact number thanks to the AI-powered calculator.
• There isn't any space for error.
• Users can easily find out how mature they are with this straightforward web application.
• It helps the user to set up their house requirement accordingly.
• It helps people to keep a close eye on the budget.
• This Australian calculator can be used multiple times until the user is satisfied with the results 
• The responses given are quick.
• It helps a user formulate several strategies in accordance with their financial requirements.
• You don't need to know any financial jargon to utilise the home stamp duty calculator.

How Is Stamp Duty Calculated? Does It Vary By State And Territory?

The higher purchase price or valuation will be utilised as the property value in the calculation. These can vary depending on the circumstances. For instance, in a favourable acquisition, you buy a property from a friend or relative for less than what it is worth. Typically, no real estate agent is involved.

The valuation of the land and structures as of the date of the contract of sale is sometimes used to determine the stamp duty for off-the-plan acquisitions. Contracts are signed and the deposit is paid on this date. As a result, if development has not yet begun, stamp duty may be much lower than if you were buying an established property. When you sign the contract, the construction will likely be almost finished; thus, there will be very little chance of a discount.

The table below consists of Australian states and showcases the stamp duty that would be due to demonstrate how the states differ. The computations below were performed in November 2022, and as such, they are only valid as of that date.

Australian Capital Territory Stamp Duty Calculator

The Australian Capital Territory (ACT) Stamp Duty Calculator is a tool used to estimate the amount of stamp duty payable on a property purchase in the ACT. The calculator takes into account various factors such as the purchase price, property type, and whether the buyer is a first-time buyer or not.

Property value	Payable duty
Up to $200,000	$20 or $1.30 per $100 or part thereof, whichever is greater
$200,001 to $300,000	$2,600 plus $2.30 per $100 or part thereof by which the value exceeds $200,000
$300,001 to $500,000	$4,900 plus $3.60 per $100 or part thereof by which the value exceeds $300,000
$500,001 to $750,000	$12,100 plus $4.56 per $100 or part thereof by which the value exceeds $500,000
$750,001 to $1,000,000	$23,500 plus $6.10 per $100 or part thereof by which the value exceeds $750,000
$1,000,001 to $1,455,00	$38,750 plus $6.60 per $100 or part thereof by which the value exceeds $1,000,1000
More than $1,455,00	A flat rate of $4.73 per $100 applied to the total transaction value

New South Wales Stamp Duty Calculator

The New South Wales (NSW) Stamp Duty Calculator is an online tool that helps individuals and businesses estimate the stamp duty they will need to pay on various types of property transactions in NSW, such as buying a home or purchasing commercial property. Using the calculator can help people budget and plan for the costs associated with property transactions in NSW.

Property value	Payable duty
Not more than $14,000	1.25% of dutiable value
$14,001 - $30,000	$175 + 1.5% of dutiable value over $14,000
$30,001 - $80,000	$415 + 1.75% of dutiable value over $30,000
$80,001 - $300,000	$1,290 + 3.5% dutiable value over $80,000
$300,001 - $ 1 million	$8,990 + 4.5% dutiable value over $300,000
$1 million - $3 million	$40,490 + 5.5% dutiable value over $1 million
Over $3 million	$150,490 + 7% of dutiable value over $3 million

Northern Territory Stamp Duty Calculator

The Northern Territory Stamp Duty Calculator is an online tool that assists individuals and businesses compute the amount of stamp duty payable on property transactions in the Northern Territory. The calculator considers factors such as the type of property, its value, and any applicable concessions or exemptions.

Property value	Payable duty
For properties with values no more than $25,000	This formula applies: Stamp duty = (0.06571441 x Y²) + 15Y Where Y = Dutiable Value/1000
For example: Property Value: $150,000 Y=$150,000/1000 = 150 Stamp duty= [0.06571441 x (150²)] + 15(50) = $3,728.57* *Estimated Stamp Duty Value

Queensland Stamp Duty Calculator

Individuals can utilize the Queensland Stamp Duty Calculator, an online tool, to find out how much stamp duty they're likely to owe when purchasing a property in Queensland, Australia. The calculator estimates the amount of stamp duty that will be due by taking into account the purchase price, the kind of property, and the intended use of the property.

Property value	Payable duty
Not more than $5,000	No stamp duty
More than $5,000 up to $75,000	$1.50 for each $100, or part of $100, over $5,000
$75,000 to $540,000	1,050 plus $3.50 for each $100, or part of $100, over $75,000
$540,000 to $1,000,000	$17,325 plus $4.50 for each $100, or part of $100, over $540,000
Over $1,000,000	$38,025 plus $5.75 for each $100, or part of $100, over $1,000,000

South Australia Stamp Duty Calculator

The South Australia Stamp Duty Calculator is an online tool that helps calculate the amount of stamp duty that is payable on the transfer of real estate in South Australia. It is an easy-to-use calculator that quickly calculates the amount of stamp duty on a given property transaction. It also provides information on exemptions and concessions that may be applicable.

Property value	Payable duty
Not more than $12,000	$1.00 for every $100 or part of $100
$12,000 - $30,000	$120 plus $2.00 for every $100 or part of $100 over $12,000
$30,001 - $50,000	$480 plus $3.00 for every $100 or part of $100 over $30,000
$50,001 - $100,000	$1,080 plus $3.50 for every $100 or part of $100 over $50,000
$100,001 - $200,000	$2,830 plus $4.00 for every $100 or part of $100 over $100,000
$200,001 - $250,000	$6,830 plus $4.25 for every $100 or part of $100 over $200,000
$250,001 - $300,000	$8,955 plus $4.75 for every $100 or part of $100 over $250,000
$300,001 - $500,000	$11,330 plus $5.00 for every $100 or part of $100 over $300,000
Over $500,000	$21,330 plus $5.50 for every $100 or part of $100 over $500,000

Tasmania Stamp Duty Calculator

Tasmania Stamp Duty Calculator is a free online tool that helps individuals calculate the amount of stamp duty payable for a particular property purchase in Tasmania. Factors such as the purchase price and state of the property are taken into account. The calculator provides users with an easy and accurate way to estimate the amount of stamp duty they will be required to pay.

Property value	Payable duty
Not more than $3,000	$50
$3,000 - $25,000	$50 plus $1.75 for every $100 or part by which the dutiable exceeds $3,000
$25,000 - $75,000	$435 plus $2.25 for every $100 or part by which the dutiable exceeds $25,000
$75,000 - $200,000	$1,560 plus $3.50 for every $100 or part by which the dutiable exceeds $75,000
$200,000 - $375,000	$5,935 plus $4.00 or every $100 or part by which the dutiable exceeds $200,000
$375,000 - $725,000	$12,935 plus $4.25 for every $100 or part by which the dutiable exceeds $375,000
Over $725,000	$27,810 plus $4.50 for every $100 or part by which the dutiable exceeds $725,000

Victoria Stamp Duty Calculator

Victoria Stamp Duty Calculator is a tool that helps calculate the stamp duty payable on real estate property purchases in the state of Victoria, Australia. It takes into account the purchase price, GST, transfer duty, and land tax, with an option for additional concessions and exemptions. The calculator provides an accurate estimate of the total stamp duty payable, allowing users to make informed decisions when buying property in Victoria.

Property value	Payable duty
Not more than $25,000	1.4% of the dutiable value of the property
$25,001 - $130, 000	$350 plus 2.4% of the dutiable value in excess of $25,000
$130,001 - $960,000	$2,870 plus 6% of the dutiable value in excess of $130,000
Over $960,000	5.5% of the dutiable value

Western Australia Stamp Duty Calculator

The Western Australia Stamp Duty Calculator is a tool that helps individuals calculate the amount of stamp duty they need to pay when buying a property in Western Australia. It is an easy-to-use calculator that takes into account factors such as the type of property, the purchase price, and the location of the property. The calculator can also be used to calculate the amount of land tax that needs to be paid.

Property value	Payable duty
Not more than $120,000	1.9% of dutiable value
$120,001 - $150,00	$2,280 + $2.85 per $100 or part thereof above $120,000
$150,001 - $360,000	$3,135 + $3.8 per $100 or part thereof above $150,000
$360,001 - $725,000	$11,115 + $4.75 per $100 or part thereof above $150,000
Over $725,000	$28,435 + 5.15% per $100 or part thereof above $725,000

How is Stamp Duty Paid?

Typically, stamp duty is paid at closing. It is necessary for new homeowners to pay their stamp duty directly to the appropriate revenue office. Visit the website or office of your relevant state or territory to learn more. Get the professional assistance of an expert if you want additional information about how stamp duty works in your state. This could be a mortgage broker, attorney, or conveyancer doing business in the state where you plan to buy. 

The payment of the duty may be made via BPay, e-transfer, overseas e-transfer, mail, or advance payment. Credit or debit cards, as well as cheques, are additional payment methods.

When Do I Pay Stamp Duty?

An individual is required to pay stamp duty either on or before the settlement date or three months after the date of the contract. The event which occurs first is when the payment is made. The following table summarises the timeframe to pay the stamp duty for all States and territories.

State/Territory	Payment Schedule
Australian Capital Territory	Within 14 days of receiving a Notice of Assessment from Access Canberra
New South Wales	Payable within three months of settlement
Northern Territory	Payable 60 days after settlement
Queensland	Payable no later than 30 days after settlement of the property
South Australia	Usually required to be paid on or before settlement day
Tasmania	Payable within three months
Victoria	Payable within 30 days after property transfer
Western Australia	Payable within two months after settlement

Do I Qualify For An Exemption From Stamp Duty?

Each State in Australia has different rules when it comes to an exemption from paying the stamp duty. Normally, the following individuals or situations receive this perk. One must visit their local Office for Revenue to check if they qualify for any exemption or concession.

• Pensioners
• First-time home buyers
• Health card holders
• Ownership transfer between families

Who is Exempted From Stamp Duty?

Some states exempt first-time buyers from paying stamp duty on first home. First-time home buyers are also entitled to receive further concessions making it convenient to buy their first home. For instance, New South Wales (NSW) rescues a home buyer from paying stamp duty on buying a house if the house costs less than $550,000, whereas, for property buyers in Victoria, the stamp duty-free limit is $600,000.

Pensioners and health card holders receive concessions or sometimes need not pay stamp duty as well. They are required to consult their local Office of State Revenue to check their eligibility for the exemption.

A buyer may be exempted from stamp duty fees if they are transferring the property to their spouse or making an adjustment in tenure between joint tenants or tenants in general. Queensland, for instance, allows an exemption from the transfer duty on such transactions.

It must be noted that exemptions vary from state to state. It is advised for a property buyer to check the guidelines of the state they are seeking property.

Factors Affecting the Cost of Stamp Duty

There are a number of factors that influence stamp duty fees. These factors must be weighed when determining the cost of a property. 

• Since stamp duty is a State Government imposed tax, each state has a different stamp duty formula, making the total vary.
• The state the transaction is taking place in 
• The cost of the house will determine the stamp duty percentage to be paid
• If the property is less expensive, then you will pay less in stamp duty
• The type of house determines if the house being purchased is for investment purposes or to live in.
• Purchasing vacant land will result in lower stamp duty costs than purchasing an existing home.