Stamp duty, or conveyance duty as it's known in the ACT, is the tax you pay when you buy a property. How much you pay usually depends on the type of property you're buying, the value of that property and whether or not it's your first home.
Response | Male | Female |
|---|---|---|
| The deposit | 42.97% | 40% |
| Getting approved for a loan with a good interest rate | 23.12% | 26.95% |
| Finding the right property | 15.03% | 13.39% |
| Getting a loan without typical employment | 8.29% | 10.34% |
| Nothing - I do not think there are hurdles | 6.36% | 5.59% |
| Previous debts | 3.47% | 3.22% |
| Other | 0.77% | 0.51% |
You can use Finder's stamp duty calculator to estimate your stamp duty obligations. Be sure to set the state/territory to ACT before starting.
This is just an estimate and may not reflect your actual costs.
Stamp duty in the ACT is calculated based on the value of the property (called the dutiable value). There are different rates of stamp duty for owner-occupiers and other types of property buyers (such as investors).
Here are the rates of conveyance duty in the ACT for owner-occupiers:
| Property value | Duty rate (owner-occupier) |
|---|---|
| Up to $260,000 | $0.40 for every $100 (or part of $100) |
| Between $260,001 and $300,000 | $1,040, plus $2.20 per $100 (or part) above $260,000 |
| Between $300,001 and $500,000 | $1,920, plus $3.40 per $100 (or part) above $300,000 |
| Between $500,001 and $750,000 | $8,720, plus $4.32 per $100 (or part) above $500,000 |
| Between $750,001 and $1,000,000 | $19,520, plus $5.90 per $100 (or part) above $750,000 |
| Between $1,000,000 and $1,455,000 | $34,270, plus $6.40 per $100 (or part) above $1,000,000 |
| More than $1,455,000 | A flat rate of $4.54 per $100, applied to the total value |
Here are the rates of conveyance duty in the ACT for investors:
| Property value | Duty rate (investor) |
|---|---|
| Up to $200,000 | $1.20 per $100 (or part of $100) |
| Between $200,001 and $300,000 | $2,400, plus $2.20 per $100 (or part) above $200,000 |
| Between $300,001 and $500,000 | $4,600, plus $3.40 per $100 (or part) above $300,000 |
| Between $500,001 and $750,000 | $11,400, plus $4.32 per $100 (or part) above $500,000 |
| Between $750,001 and $1,000,000 | $22,200, plus $5.90 per $100 (or part) above $750,000 |
| Between $1,000,000 and $1,455,000 | $36,950, plus $6.40 per $100 (or part) above $1,000,000 |
| More than $1,455,000 | A flat rate of $4.54 per $100, applied to the total value |
Unlike some other states, the ACT doesn't have an exemption or concession scheme exclusively for first home buyers. However, it does have the Home Buyer Concession Scheme.
This concession allows all eligible home buyers to avoid stamp duty. Eligibility depends on household income and number of dependent children. If you meet the thresholds below, you can avoid stamp duty.
| Number of dependents | Total gross income threshold |
|---|---|
| 0 | $250,000 |
| 1 | $254,600 |
| 2 | $259,200 |
| 3 | $263,800 |
| 4 | $268,400 |
| 5 or more | $273,000 |
To qualify for a home buyer concession, buyers in the ACT must also meet these criteria:
Matt is buying his first home in Canberra, valued at $750,000. His income is $110,000, he's over 18, and he's planning on moving into the property right away, so he qualifies for the home buyer discount. Matt won't need to pay any stamp duty on his home purchase.
The amount you'll pay depends on the exact price of your property. But here's the discount you could receive with the concession:
| Property value | Duty payable |
|---|---|
| Less than or equal to $1,000,000 | $0 |
| $1,000,000 to $1,455,000 | $6.40 for every $100 (or part of $100) above $1,000,000 |
| $1,455,000 or more | $4.54 per $100 (or part of) above $1,000,000, but minus the concession cap of $34,270 |
Conveyance duty is payable within 14 days of registering the title of your property with Access Canberra.
You will need to fill in the ACT Government's Buyer Verification Declaration form, and submit it to Access Canberra, along with the required documents and proof of your identity.
For most buyers, your conveyancer will handle most of this for you.
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