Updated 10 September 2020.
Read this article if you want to learn about calculating Stamp Duty in New South Wales.
Or you can use the online stamp duty calculator to find out how much you’ll pay.
Important notes about NSW Stamp Duty
- First Home Buyers of new or existing properties may receive a concession or exemption of stamp duty.
Standard Rates of NSW Stamp Duty (Transfer Duty)
Stamp Duty really is just a tax we pay for nothing much in return.
How to calculate the NSW stamp duty from 1 July 2020:
|Your Purchase Price||Rate of NSW Stamp Duty|
|$0 – $14,000||$1.25 for every $100 or part of the value|
|$14,001 – $31,000||$175 plus $1.50 for every $100,|
that exceeds $14,000
|$31,001 – $83,000||$430 plus $1.75 for every $100,|
that exceeds $31,000
|$83,001 – $310,000||$1,340 plus $3.50 for every $100,|
that exceeds $83,000
|$310,001 – $1,033,000||$9,285 plus $4.50 for every $100,|
that exceeds $310,000
|Over $1,033,000||$41,820 plus $5.50 for every $100,|
that exceeds $1,033,000
Use the online stamp duty calculator to calculate your costs, including stamp duty concessions.
NSW Stamp Duty Discounts
There are various NSW stamp duty exemptions or concessions, in here you’ll find all the details of the most common so that you can see whether or not you may be eligible.
Concessions for Home Buyers
Home Buyers pay the full rate of duty in NSW, as above.
Concessions for First Home Buyers
Yes, there is some hope for first home buyers purchasing up to $1,000,000.
The NSW State Government has announced the First Home Buyers Assistance Scheme for purchases from 1 August 2020 as follows.
Purchasing Brand New:
- No stamp duty for purchases up to $800,000.
- Purchases between $800,000 and $1,000,000 receive a concessional rate of duty.
Purchasing Established Homes:
- No stamp duty for purchases up to $650,000.
- Purchases between $650,000 and $800,000 receive a concessional rate of duty.
Purchasing Vacant Land:
- No stamp duty for purchases up to $400,000.
- Purchases between $400,000 and $500,000 receive a concessional rate of duty.
The tables for more information displaying the concessions can be found over here.
First Home Buyers may also want to read about the NSW First Home Owners Grant over here.
Home buyers (occupying within 12 months of settlement for a period of at least 6 months) are eligible for a 12 month delay in payment of stamp duty (from the date of signing the contract, or at settlement, whichever occurs first).
If you’re purchasing as an investor however, you will not be eligible to delay payment of stamp duty.
From 1 July 2017, Foreign Investors pay a surcharge of 8%.
Other Government Fees:
There are many possible fees that you could encounter, depending on the nature of your transaction, however in this article we’ll address only the 3 you’re most likely to encounter during a property transaction.
- Transfer Registration
- Mortgage Registration
- Mortgage Discharge Registration
In the New South Wales State Budget each year, the Treasurer will announce changes to the fees.
NSW Transfer Registration (when a ‘transfer of ownership’ is occurring)
When you purchase a property, there is a legal document that transfers the ownership of that property in to your name.
And the transfer of ownership has to be registered, and the State Government charges a fee for managing the register.
- Effective the 1st July 2020, the NSW Transfer Registration fee is $146.40
NSW Mortgage Registration (when you are borrowing money)
The mortgage gives the bank the right to sell your property if you don’t pay them back.
- The NSW Mortgage Registration Fee as at 1st July 2020 is $146.40.
The mortgage registration ensures that the mortgage can be viewed by a simple title search.
This therefore prevents you from selling your home and not paying back the lender – because the transfer of ownership wouldn’t be able to happen unless the previous mortgage was discharged.
NSW Mortgage Discharge Registration (when you are refinancing or selling)
This is payable when your existing mortgage is being discharged (released).
- The NSW Mortgage Discharge Registration Fee as at 1st July 2020 is $146.40.
This is usually payable when you’re refinancing or selling.
However, if you’re purchasing a property, your new lender may prepare a Mortgage Discharge and charge you this fee. Your solicitor arranging the settlement, will pass on that fee to the seller so that you’re not out of pocket.
General Information on just about everything to do with NSW Stamp Duty:
Registration Fees for Land Transfer and Mortgage Registration:
Not purchasing in New South Wales?
Click the below link, and then choose your State: