Stamp Duty In Queensland, transfer duty, sometimes called stamp duty, is a tax charged by the state government whenever a property is sold or transferred to a new owner. It’s paid by the person who buys or is given a property, not the seller. The cost of stamp duty depends on the value of the property. It’s calculated on a sliding scale, so the more expensive the property, the more stamp duty you’ll pay. However, what you plan to do with the property also affects the amount you’ll pay. The state government has a general rate of stamp duty, which applies to investment property purchases. If you plan to live in the property, a home concession will apply. Firsthome buyers are also eligible for discounts. What is Stamp Duty? Understanding How much does it cost? General Rate (Investors) Purchase Price Transfer Duty Rate Under $5,000 Nil $5,000 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 More than $1,000,000 $38,025 plus $5.75 for each $100, or part of $100, over $1,000,000 Home Concession (Owner Occupier) Purchase Price Transfer Duty Rate Not more than $350,000 $1.00 for each $100 or part of $100 More than $350,000 to $540,000 $3,500 + $3.50 for every $100, or part of $100, over $350,000 $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 $10,150 + $4.50 for every $100, or part of $100, over $540,000 More than $1,000,000 $30,850 + $5.75 for every $100, or part of $100, over $1,000,000 First-home buyers can receive a further discount – on top of the home concession rate – on properties valued under $550,000.
RkJQdWJsaXNoZXIy MTI3ODI1