During the excitement and planning that comes with property purchases, many first buyers can forget to budget for the cost of stamp duty.

Otherwise referred to as property transfer fees, stamp duty is applied during the sale and transfer of property purchases. This rate changes between states in Australia, and is influenced by the cost and type of property purchases.

To provide a guide on how much stamp duty you could be charged on your property purchase, we have created an easy-to-use Stamp Duty Calculator. This tool is not only designed to calculate how much stamp duty you may be required to pay on your property in South Australia (when the SA tab is selected), but it also highlights any stamp duty exemptions or grants for which you may be eligible.

Helpful hint: Also try out our Property Buying Cost Calculator, Borrowing Power Calculator, and our Loan Comparison Calculator to help manage your finances.

How is stamp duty calculated in South Australia?

South Australia calculates its stamp duty on the value of the land (including improvements) or the consideration (the amount you agree to pay), including GST, whichever amount is greater.

Our “rates and thresholds” button towards the bottom left of our calculator outlines the current stamp duty rates and thresholds for South Australia. The information in this pop-up menu includes:

  • stamp duty: all rates
  • mortgage registration fee, which is a set amount and therefore doesn’t change on our South Australia stamp duty calculator
  • land transfer fee
  • First Home Owner Grant.

Using our Stamp Duty Calculator for South Australia

 

stamp duty calculator

We have provided a detailed breakdown of the information you’re required to input into our calculator.

1. Enter your details

  • Value of property: Type in the value of the property you’re planning to purchase.
  • Are you a first home buyer? Select “yes” if you’re purchasing or constructing a new residential property, whether it’s a house, flat, unit, townhouse, or apartment. If you use this property as your principal place of residence for a continuous period of at least six months from the date of purchase settlement, or complete construction within this timeframe, you may be eligible for the First Home Owner’s Grant. This grant may be up to $15,000.
  • Property type: Select whether you’re purchasing your property as your primary residence or as an investment.
  • Are you purchasing? Select either “established home”, “new home”, or “vacant land”.

2. Government fees

The results in this field include:

  • Stamp duty on property: This is the cost of duty you would be required to pay for your property based on the information provided.
  • Mortgage registration: South Australia charges $160.00 for mortgage registration.
  • Transfer fee: South Australia charges its land transfer fee based on the purchase property value. This fee is outlined in detail when clicking the “rates and thresholds”

The total amount of these costs appears next to “total government fees”.

3. Government grant

These results reflect any government grants for which you may be entitled. The total amount of these grants appears next to “total government grant”.

Are there further concessions or grants available?

There are a few exemptions from stamp duty that may apply to you. Apart from the First Home Owner Grant, other concessions or exemptions can include:

  • Off-the-Plan Concession: This provides a partial concession on a transfer of a new apartment or substantially refurbished apartment from 1 July 2014 to 30 June 2018.
  • Seniors Housing Grant: This once-off grant of up to $8,500 can be available for those aged 60 years or more who are purchasing or constructing a new home valued up to $400,000. This is not available in addition to the First Home Owner Grant.

For further information on how stamp duty could affect you as well as information on more exemptions and concessions, please visit RevenueSA.

Make purchasing your home even easier

Read our First Home Buyer’s guide to find out more information on other factors you may need to consider when purchasing a property, including the ongoing costs associated with owning a home (other than your mortgage), as well as the types of loans you can take out.

Furthermore, take the confusion out of choosing a home loan with our online comparison service. Simply input the information required, and you can compare a range of home loans, making it easier to choose one suited to your needs and budget.

The information in this article is accurate at 2 January 2018.  

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