How stamp duty works
Duty is charged on the dutiable value — generally the higher of the price and market value — on a sliding scale, so the average rate rises with the price. It is paid within weeks of settlement (or contract, in some states) and cannot normally be added to the loan unless the lender agrees to a higher LVR. That is why duty often decides whether a buyer can reach 20% equity.
For a sense of scale, Victoria’s general rate on a $750,000 home is $40,070 ($2,870 plus 6% of the value above $130,000, SRO Victoria scale) — more than 5% of the price, or almost a quarter of a 20% deposit. A first home buyer in Victoria paying $600,000 pays nothing.
First home buyer concessions by state (November 2026)
| State | Main first-home relief | Official source |
|---|---|---|
| NSW | No duty up to $800,000; concession to $1m (new or existing homes) | Revenue NSW |
| VIC | No duty up to $600,000; concession to $750,000 | State Revenue Office Victoria |
| QLD | New homes: no duty, no price cap (from 1 May 2025). Established: full concession to $700,000, phasing out by $800,000 | Queensland Revenue Office |
| WA | No duty up to $600,000; concession to $800,000 (from 7 May 2026) | RevenueWA |
| SA | New homes / land to build: no duty, no price cap. Established: no first-home relief | RevenueSA |
| TAS | Established-home exemption (to $750,000) ended 30 June 2026 — standard rates apply | State Revenue Office Tasmania |
| ACT | Reported: no duty for eligible first home buyers from 1 July 2026 | ACT Revenue Office |
| NT | No general first-home duty concession; grants focus on new builds | Territory Revenue Office |
Summary only — conditions apply (residency, moving in within 6–12 months, owner-occupation periods, citizenship or PR, vacant-land thresholds). Figures reported by state budgets and revenue offices as at November 2026.
2026 changes worth knowing
Western Australia
From 7 May 2026, WA lifted the first home owner rate of duty: no duty up to $600,000 (previously $500,000) and a concession up to $800,000 (previously $700,000). Vacant land thresholds rose to $450,000/$550,000 (WA Government media statement).
Tasmania
The 100% exemption for first home buyers of established homes up to $750,000 ended on 30 June 2026; settlement, not contract date, decided eligibility. Buyers now pay the standard scale unless another concession applies.
ACT
The ACT has been replacing stamp duty with general rates for over a decade. From 1 July 2026 eligible first home buyers are reported to pay no duty; check income and eligibility rules with the ACT Revenue Office.
Queensland
Since 1 May 2025, first home buyers of a new home (or vacant land to build on) pay no transfer duty at any price. Established homes keep the first-home concession up to $800,000.
How stamp duty affects your loan
Every dollar of duty comes out of savings that would otherwise go to the deposit. Take a $750,000 purchase: if duty consumes $25,000 of your savings, the loan rises by the same amount — about $158 a month at 6.49%, or, worse, it can tip the LVR above 80% and trigger LMI. Combining a state concession with the 5% Deposit Scheme is how most first home buyers keep upfront costs manageable.
Other upfront costs
- Transfer registration and mortgage registration fees (a few hundred dollars each, set by the state).
- Conveyancing or solicitor fees, typically $1,000–$2,500.
- Building and pest inspection, strata report for units.
- Loan establishment or valuation fees, and LMI if your LVR is above 80%.
- Foreign purchasers pay an additional surcharge duty in every state.
FAQ
How much is stamp duty in Australia?
It depends on the state and price. As an example, Victoria’s general duty on a $750,000 home is $40,070, while an eligible first home buyer in Victoria pays nothing up to $600,000. Use the official state revenue office calculator for exact figures.
Which states have no stamp duty for first home buyers?
Every state has some relief except Tasmania (for established homes since 1 July 2026) and the NT. NSW exempts first homes up to $800,000, Victoria up to $600,000, Queensland up to $700,000 for established homes and with no cap for new homes, WA up to $600,000, SA for new homes, and the ACT reportedly for eligible first home buyers from 1 July 2026.
Did WA change first home buyer stamp duty in 2026?
Yes. From 7 May 2026 WA first home buyers pay no duty up to $600,000 and a concessional rate up to $800,000.
Can stamp duty be added to my home loan?
Usually it must come from savings. Some lenders will lend extra if your LVR allows, but that can push you above 80% LVR and trigger LMI.
Is the Tasmanian first home buyer stamp duty exemption still available?
No. The exemption for established homes up to $750,000 ended for settlements after 30 June 2026.
Related home loan guides
Assumptions & sources
- RBA cash rate target 4.85%: raised 0.25 points on 3 November 2026, effective 4 November (the Monetary Policy Board voted 6–3). It was the fifth rise of 2026, after February, March, May and September. The Board’s next decision is at 2:30pm AEDT on Tuesday 8 December 2026.
- Average owner-occupier variable rate (P&I) 6.49%: Canstar estimate once the September rise was passed on (29 September 2026), in line with RBA Table F6 — new owner-occupier variable loans averaged 6.23% in August 2026, before the rise. Canstar’s average advertised rate across its whole database was 6.75% (13 October 2026) and the lowest variable rate was 5.89% (20 October 2026). As of 3 November no big-four bank had announced how it would pass on the November rise; passed on in full, it lifts the average to about 6.74%.
- Fixed rates: big-four 1–2 year fixed rates ranged from 6.49% (ANZ) to 6.81% (NAB 2-year) in October 2026; the lowest fixed rate on Canstar was 5.79% (1-year).
- APRA serviceability buffer: 3 percentage points above the loan rate (kept unchanged in APRA’s May 2026 review). From 1 February 2026 no more than 20% of a bank’s new owner-occupier lending (and separately investor lending) may be at a debt-to-income ratio of 6 or more.
- LMI: indicative full-doc premiums from one lender’s table published by Home Loan Experts (updated 18 May 2026); insurers price individually and state stamp duty on the premium may apply (none in NSW).
- 5% Deposit Scheme (First Home Guarantee): Housing Australia rules from 1 October 2025 — unlimited places, no income caps; Darwin cap raised to $750,000 from 1 July 2026.
- Repayments use standard amortisation (monthly, fortnightly or weekly compounding to match the payment) with the rate held constant for the whole term; real loans calculate interest daily and rates change.