Otherwise known as conveyance duty, stamp duty is a tax on the sale of property purchases in Australia, and covers the cost of legal documents, including changing the ownership title of the property. The amount of tax depends on the state or territory the property is purchased in, as well as the cost of the property itself.
Our Stamp Duty Calculator provides a guide on how much stamp duty you may be required to pay on a property, based on Australian Capital Territory’s (ACT) requirements. Our calculator will also highlight any stamp duty exemptions or grants that may apply to you.
How is stamp duty calculated in the ACT?
The ACT calculates its stamp duty by applying a sliding scale of taxation based on the property’s purchase price or its market value – whichever value is greater.
If you purchase a property that already has a home erected, you are required to pay stamp duty on the combined value of the house and land. Similarly, if you purchase a vacant block of land on which the seller plans to build a house before you settle as part of your contract, you are required to pay stamp duty on the combined value of the house and land. These include house-and-land packages.
However, if you purchase a vacant block of land (no home or dwelling built on it) and plan to build a house on it under a separate contract, you are only required to pay stamp duty on the land contract
For a guide on stamp duty rates and thresholds in the ACT, please click on the “rates and thresholds” button towards the bottom left of our calculator. The information in these tables outlines the following in detail:
- stamp duty: general rate
- home buyer concession
- pensioner duty concession
- mortgage registration fee, which is a set amount and therefore doesn’t change on our ACT stamp duty calculator
- land transfer fee, which is also a set amount in ACT
- First Home Owner Grant.
Using our House Stamp Duty Calculator ACT
We have included a detailed breakdown of the information you’ll need to input.
1. Enter your details
- Value of property: Input the value of the property you’re planning to purchase. The property may be vacant land, an established home, or a house-and-land package.
- Are you a first home buyer? This information is important, as first home buyers in the ACT can be granted a stamp duty concession under the Home Buyer Concession Scheme (HBCS). Eligibility requirements for the HBCS are as follows:
- You must be purchasing either vacant land or a new home.
- Your home’s total value must be less than the upper property value threshold amount (click our “rates and thresholds” button to check these threshold amounts).
- Buyers of the home or land must be over 18 years old.
- Total gross income of all buyers must not be greater than total relevant gross income threshold amount.
- All buyers including any partners must satisfy current or previous home ownership test
- One buyer must satisfy residential requirements.
- For this concession to apply, you must be purchasing either vacant land (with dutiable value $281,200 or less) or a new home ($470,000 or less).
You may also be eligible for the First Home Owner Grant, which has reduced from $10,000 to $7,000 after 1 January, 2017. This grant may only apply to first home buyers who are purchasing either new or substantially renovated homes. It may also be applicable to those who are building a home as an owner-building, where construction started on or after 1 January 2017. It does not apply for those who are purchasing established homes.
- Property type: A First Home Owner Grant applies if you are purchasing a new home or vacant land for your primary residence. You won’t receive this grant, however, if you are investing in a property.
- Are you purchasing: Select either “established home”, “new home”, or “vacant land”. This will impact any concessions for which you may be eligible.
- Eligible pensioner: If you are an eligible pensioner, you can receive a concession under the Pensioner Duty Concession Scheme (PDCS). This ACT Government initiative helps eligible pensioners who already own a residential home move to another home that is better suited to their needs. This reduces the amount of stamp duty owing on the purchase of a new or established home.
- Total income of all purchasers: Input the total income of all purchasers. Your partner’s income must be included in this figure, even if they will not be an owner of your new home. To be eligible for the HBCS, you must meet the income threshold requirements. The total gross income over the financial year before the transaction date must be less than or equal to the relevant total gross income threshold as outlined when clicking on “rates and thresholds” button under “income threshold amount”.
- The number of dependent children: If applicable, input your number of dependent children. Your total gross income is staggered depending on the number of depending children in your family.
2. Government fees
This section of our calculator highlights the following results:
- Stamp duty on property: This is the amount of stamp duty you may be required to pay based on the information you’ve provided. This amount may reduce if you are an eligible pensioner.
- Mortgage registration: The ACT charges a $140 mortgage registration fee.
- Transfer fee: The ACT charges a $327 land transfer fee. This is the estimated cost of transferring the land and titles into your ownership.
The total amount of these costs appears under “total government fees”.
3. Government grant
This section of the results estimates any government grants you may be entitled to, depending on the information you have provided. For the ACT, this includes the First Home Owner Grant.
The total amount of these grants appears under “total government grant”.
What other stamp duty exemptions, grants, or concessions apply to me?
There are a few exemptions or concessions from stamp duty that may apply to you. Aside from the Home Buyer Concession Scheme and the Pensioner Duty Concession, these may include:
- Deferred duty: Buyers eligible for a first home owner grant or a home buyer concession can pay off stamp duty costs over a period of time. Eligible purchasers can choose from two payment plans:
- Pay duty in instalments immediately from the date of an eligible transaction to repay the total duty plus interest within 10 years.
- You can defer payments for up to five years from the date of the eligible transaction. After five years, you must repay all of your duty including interest no later than 10 years after the transaction date.
- Disability Duty Concession Scheme (DDCS): DDCS helps adults with a long-term and permanent disability, who may otherwise rely on government accommodation, find long-term accommodation to suit their needs. Those eligible will not be required to pay stamp duty if they have a long-term and permanent disability and want to purchase a home as part of their principal residence. This scheme is available to ACT residents who have qualified for individual funder under the National Disability Insurance Scheme (NDIS).
- For further information on how stamp duty could affect you, as well as additional information on grants and concessions, please visit the ACT Revenue Office.
Make purchasing your home even easier
Our First Home Buyer’s guide helps counter some of the confusion and stress often associated with purchasing a home. Our guide outlines helpful information about the types of home loans available, the process of applying for a loan, and the ongoing costs of owning a home (aside from your mortgage).
We also help reduce the confusion around choosing a home loan that suits your needs, budget, and lifestyle. Simply use our online home loan comparison tool to find a great deal in just a few minutes.
The information in this article is accurate at 2 January 2018.