When you purchase a property in Queensland you’ll typically have to pay something called stamp duty as a result. Stamp duty is a tax imposed on certain dutiable transactions and purchases, such as motor vehicles, leases and, most relevantly, properties.
It’s essentially designed to cover the administrative costs of transferring the legal title of the property into your name; much like a mortgage registration fee.
Since stamp duty is charged on a sliding scale proportionate to the value of the property, figuring out the amount of stamp duty you’ll have to pay can be less than straightforward. However, you can use the QLD stamp duty calculator below to get a better idea of how much stamp duty you might incur based on your buying circumstances and a given property value.
The purchase price of your home (also known as the dutiable value, as opposed to the market value) will affect what stamp duty rate is applied. The current stamp duty rates in Queensland are listed below.
| Property value | Stamp duty rate |
| $0 – $5,000 | No stamp duty |
| $5,001 – $75,000 | $1.50 for each whole or part $100 over $5,000 |
| $75,001 – $540,000 | $1,050 plus $3.50 for each whole or part $100 over $75,000 |
| $540,001 – $1,000,000 | $17,325 plus $4.50 for each whole or part $100 over $540,000 |
| $1,000,001+ | $38,025 plus $5.75 for each whole or part $100 over $1,000,000 |
| Notes: Accurate as of April 2023. Source: Queensland Government.¹ | |
For example, you might buy a house for $550,150. That means your payable stamp duty would be $17,325 plus $4.50 for each $100 over $540,000. To figure out how much stamp duty you’d pay all up, we need to do some calculations.
Step 1. Figure out how many blocks of $100 there are between $540,000 and the purchase price of $550,150.
There’s a $10,150 difference between the two figures; $100 goes into that 101 times, and the additional $50 is treated as a whole $100 as well. This means there are 102 blocks of $100 we need to use to calculate stamp duty.
Step 2. Multiply 102 by 4.50 to calculate the second part of your stamp duty
102 x $4.50 = $459
Step 3. Add the two components of your stamp duty together
$459 + $17,325 = $17,784
This means that on top of the purchase price of $550,150, you’d pay $17,784 in stamp duty. However, it’s important to note that your house-buying costs don’t end there; you’ll generally still have to pay for things including (but not limited to):
There are three types of stamp duty concessions in Queensland that can either reduce the amount you must pay or eliminate it altogether (depending on the purchase value of the property).² QLD’s three main stamp duty concessions are:
Stamp duty in QLD is calculated based on the sale price of the property, and while other factors may influence how much stamp duty you end up paying, you won’t pay more or less because of your property type (e.g. an apartment or a townhouse). Of course, some types of houses may be more valuable than others and therefore sell for a higher price and incur a higher rate of duty.
Your payable stamp duty on a given property transaction will not be affected by what you plan on using the property for. So whether you’re looking to occupy the home as an owner-occupier or rent it out as an investor, you’ll typically pay the same amount of stamp duty.
That being said, it’s worth noting that most stamp duty concessions and exemptions around Australia are typically only available to those looking to buy a home, rather than an investment property. So, depending on your buying circumstances, you may find yourself paying more in stamp duty on an investment property than if you’d bought a residential property for yourself to live in.
If you buy a home in Queensland from another state (like New South Wales), you’ll still have to pay the applicable QLD stamp duty. You will, however, also be able to claim the QLD concessions so long as you meet the relevant eligibility criteria.
If you’ve owned another property in Australia that was your primary residence, you won’t be eligible for the first home concession or first home vacant land concession. You may still be eligible to claim QLD’s home concession if you plan to move into the property within 12 months and it will be your principal place of residence.
Foreign buyers (whether they’re a resident, company or trust) that purchase residential land in QLD must pay however much regular stamp duty is payable on the transaction, plus a 7% additional foreign acquirer duty (AFAD).⁵
Stamp duty is typically due within 30 days of signing documents but before the sale is settled; the Queensland Government recommends having your documents stamped “well before settlement” if you’re buying property with the help of a home loan.⁶
Banks and lenders will generally have you sign these documents early on, so you can potentially include stamp duty in the amount you borrow for a mortgage if desired.
The concessions for stamp duty often require you to live in the property for 12 months and not sell or lease all or part of the property within that time. If you move out or put the home on the market, for example, you might lose the concession and be required to pay additional stamp duty. If the situation changes, you can apply for a transfer duty reassessment and pay any outstanding stamp duty from then. Any outstanding stamp duty may accrue interest and incur penalties.
The stamp duty rates charged on the sale of commercial properties are the same as the rates charged on the sale of residential properties.
Different parts of Australia will charge different rates of stamp duty and may have different considerations to take into account when calculating your payable stamp duty. We can assist you in learning more about how stamp duty works in:
While certain states have stamp duty concessions or exemptions for pensioners, there are no specific stamp duty concessions for pensioners or seniors in QLD. However, you may still be able to apply for the three concessions listed above if you meet the criteria, as none of them have age restrictions.
You may also want to consider speaking to a specialist lender for seniors, many of which exist and are dedicated to helping elderly Australians find the right home loans for their needs.
If you’re ready to start figuring out which home loans might be worth your time and attention, our home loan comparison tables are a great place to start! You can use them to compare a wide range of home loans based on interest rates, fees, features and more.
So, what are you waiting for? Start comparing your options today with Compare the Market.
1 Queensland Revenue Office. Transfer duty rates. 2023.
2 Queensland Revenue Office. Home concession. 2023.
3 Queensland Revenue Office. First home concession. 2023.
4 Queensland Revenue Office. First home vacant land concession. 2023.
5 Queensland Revenue Office. Additional foreign acquirer duty (AFAD). 2023.
6 Queensland Revenue Office. When transfer duty applies. 2023.
