Buying a house is expensive business, and not just because property prices are eye-watering in certain parts of the country. The process of buying a home will generally involve a slew of other costs, expenses and government fees; chief among which is stamp duty.
Stamp duty is an upfront tax (or ‘duty’) charged by state and territory governments on the sale of properties – specifically, the transfer of said property’s ownership title from one party to another. In the ACT, it’s commonly referred to as ‘conveyance duty’, but we’ll stick with calling it stamp duty to avoid any confusion.
As stamp duty is charged on a sliding scale, it can be hard to approximate what you might pay on a given purchase price before you’ve actually bought the property. Luckily though, we can help you figure out what your potential stamp duty costs might look like.
If you’d like to learn more about how stamp duty works in the ACT however, read on.
As of September 2022, the ACT has two different sets of non-commercial stamp duty rates and thresholds: one for eligible owner-occupied transactions and one for non-eligible transactions.¹
| Stamp duty rates for eligible owner-occupied transactions | |
| Value of the property | Duty payable |
| Up to $260,000 | $0.60 for every $100 or part of $100 |
| $260,001 to $300,000 | $1,560, plus $2.20 for every $100 or part of $100 in excess of $260,000 |
| $300,001 to $500,000 | $2,440, plus $3.40 for every $100 or part of $100 in excess of $300,000 |
| $500,001 to $750,000 | $9,240, plus $4.32 for every $100 or part of $100 in excess of $500,000 |
| $750,001 to $1,000,000 | $20,040, plus $5.90 for every $100 or part of $100 in excess of $750,000 |
| $1,000,001 to $1,455,000 | $34,790, plus $6.40 for every $100 or part of $100 in excess of $1,000,000 |
| More than $1,455,000 | $4.54 for every $100 comprising the purchase price |
In order to qualify for the above, cheaper stamp duty rates, at least one buyer must live in the home continuously for at least one year and take up residence within 12 months of the settlement date.
So, if you’ve purchased an investment property, you almost certainly won’t be eligible. Instead, you’ll likely pay the below rates.
| Stamp duty rates for non-eligible transactions | |
| Value of the property | Duty payable |
| Up to $200,000 | $1.20 for every $100 or part of $100 |
| $200,001 to $300,000 | $2,400, plus $2.20 for every $100 or part of $100 in excess of $200,000 |
| $300,001 to $500,000 | $4,600, plus $3.40 for every $100 or part of $100 in excess of $300,000 |
| $500,001 to $750,000 | $11,400, plus $4.32 for every $100 or part of $100 in excess of $500,000 |
| $750,001 to $1,000,000 | $22,200, plus $5.90 for every $100 or part of $100 in excess of $750,000 |
| $1,000,001 to $1,455,000 | $36,950, plus $6.40 for every $100 or part of $100 in excess of $1,000,000 |
| More than $1,455,000 | $4.54 for every $100 block of the purchase price |
The ACT offers a number of different stamp duty concessions and exemptions:
Be sure to investigate your own potential eligibility for one of the above concessions or exemptions before applying.
In the ACT, stamp duty is payable 14 days after your property title is registered at Access Canberra.² Note that the day your title is registered will not necessarily be the same day as your settlement date or date of purchase.
As of September 2022, the ACT does not have any stamp duty exemptions or concessions specifically for first home buyers, or a first home buyer grant of any sort. If a first home buyer isn’t eligible for the previously mentioned HBCS, they will generally have to pay the full amount of stamp duty on the full property value of their first property purchase.
In the ACT, you will typically pay stamp duty on any purchase of vacant land, a home or a combination of the two – if you buy land with an established home on it, you’ll pay stamp duty on the combined value of the two.⁵
As of September 2022, the ACT requires foreign purchasers to pay any and all stamp duty they’ve incurred. However, unlike some other parts of Australia, the ACT does not impose any additional stamp duty or a transfer fee surcharge on foreign buyers.
Stamp duty in the ACT is paid to the ACT Revenue Office after you’ve received your notice of assessment and can only be paid online. Payment options include BPAY and Electronic Funds Transfer (EFT).⁶ However, your solicitor or conveyancer will generally handle this for you.
Like we mentioned before, stamp duty rates vary widely around the country, and the same house at the same market value could incur notably different amounts of stamp duty if bought in different states and territories, like Queensland or Victoria. Additionally, certain states and territories offer concessions or exemptions for certain home buyers, including eligible pensioners, first home buyers and parents with a certain level of income or number of dependent children.
That’s why we’ve created stamp duty guides for different states and territories around the country, including:
If you’re ready to start comparing, we’re here to help! So, what are you waiting for? Start your home loan search with us today, because we keep it simples!
1 ACT Revenue Office. Conveyance duty (2. Non-commercial transfer duty). 2022.
2 ACT Revenue Office. Stamp duty concession for owner-occupiers. 2022.
3 ACT Revenue Office. Home buyer concession scheme (from 1 July 2019). 2022.
4 ACT Revenue Office. Conveyance duty exemptions. 2022.
5 ACT Revenue Office. Conveyance duty (1. Overview). 2022.
6 ACT Revenue Office. How to pay. 2022.
