Conveyance duty, or stamp duty is the tax you pay when you buy a property in the Australian Capital Territory. How much you pay depends on the type of property you're buying, how much you earn (or your combined income, if you're buying as a couple), and whether or not it's your first home.
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.
| 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% |
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 | $0.60 for every $100 of the dutiable value |
| Between $260,001 and $300,000 | $1,560, plus $2.20 for every $100 over $260,000 |
| Between $300,001 and $500,000 | $2,440, plus $3.40 for every $100 over $300,000 |
| Between $500,001 and $750,000 | $9,240, plus $4.32 for every $100 over $500,000 |
| Between $750,001 and $1,000,000 | $20,040, plus $5.90 for every $100 over $750,000 |
| Between $1,000,000 and $1,455,000 | $34,790, plus $6.40 for every $100 over $1,000,000 |
| More than $1,455,000 | A flat rate of $4.45 per $100, applied to the total value |
The ACT doesn't have a concession scheme exclusively for first home buyers, but they are covered by the home buyer concession, provided they meet the other qualifying criteria.
This concession allows home buyers to avoid stamp duty, depending on their household income and number of dependent children. If your income meets thresholds below, you can avoid stamp duty.
| Number of dependents | Total gross income threshold |
|---|---|
| 0 | $170,000 |
| 1 | $173,330 |
| 2 | $176,660 |
| 3 | $179,990 |
| 4 | $183,320 |
| 5 or more | $186,650 |
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.
If you don't qualify for the home buyer concession, you will need to download and 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 within 14 days.
For most buyers, your conveyancer will handle most of this for you.
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