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NSW stamp duty calculator & guide
Find out how much stamp duty home buyers have to pay in NSW and use our calculator to estimate your costs.
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How much is stamp duty in NSW?
In NSW, transfer or stamp duty is one of the bigger costs that come with buying a property. Stamp duty can add tens of thousands of dollars to your budget. You can use the NSW stamp duty calculator below to estimate your tax costs.
- The NSW government is giving first home buyers the option to avoid stamp duty in favour of an annual land tax. Our calculator does not take this into account.
How to use the NSW stamp duty calculator
- Enter your property value (or an estimate).
- Pick your state or territory.
- Select Live-in (if you're buying a home), Investment (for an investment property) or Vacant land (if building on a vacant lot).
- If you've never owned a home before select Yes for First Home Buyer (you may get a stamp duty discount).
Work out how much stamp duty you'll pay
The NSW government is considering a "once in a generation" change to stamp duty, which will give home buyers the choice to pay either stamp duty upfront (and land tax where applicable), or to opt in to a new, smaller annual property tax instead of stamp duty.
In the meantime, if you are looking to buy property in NSW, use our NSW stamp duty calculator to estimate how much you may need to pay in stamp duty.
How is stamp duty calculated?
Stamp duty is calculated on the total dutiable value of the property subject to the transaction.
The current rates and thresholds for NSW are outlined below:
| Value of the property subject to the transaction | Rate of 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 over $14,000 |
| $31,000 - $83,000 | $430 plus $1.75 for every $10 over $31,000 |
| $83,000 - $313,000 | $1,340 plus $3.50 for every $100 over $83,000 |
| $313,000 - $1,043,000 | $9,390 plus $4.50 for every $100 over $313,000 |
| over $1,043,000 | $42,240 plus $5.50 for every $100 over $1,043,000 |
| Premium Property Duty: over $3,131,000 (residential property only) | $157,080 plus $7.00 for every $100 over $3,131,000. |
(Source: NSW State Office of Revenue)
NSW Stamp duty exemptions for first home buyers
The First Home Buyers Assistance scheme provides first home buyers with exemptions from transfer duty (stamp duty) on new and existing homes:
- New homes. If you are buying a new home worth less than $650,000 you pay no stamp duty (if eligible). If the home is valued between $650,000 and $800,000 you can get a discount.
- Existing homes. If you are a first home buyer purchasing an existing home worth less than $650,000 you pay no stamp duty (if eligible). If the home is valued between $650,000 and $800,000 you can get a discount.
- Vacant land. If you buy vacant land under $350,000 then you pay no stamp duty. Between $350,000 and $450,000 you can get a discount on the duty.
New home - stamp duty
| Purchase Price | Stamp duty (new home) |
|---|---|
| $650,000 | $0 |
| $700,000 | $0 |
| $850,000 | $10,051.75 |
| 900,000 | $20,103.50 |
Existing home - stamp duty
| Purchase Price | Stamp duty (existing home) |
|---|---|
| $650,000 | $0 |
| $700,000 | $10,402.33 |
| $750,000 | $20,804.67 |
| $850,000 | $33,457 |
Source: Revenue NSW
Who is eligible?
To qualify, you need to:
- Be over 18 and a permanent resident or citizen
- Have never owned a property before
- Have never received a first home owner grant or concession before
How NSW first home buyers can avoid stamp duty completely
From 2023, first home buyers in NSW can skip stamp duty and choose to pay an annual land tax of $400 plus 0.3% of their property's land value.
To qualify, you need to be a first home buyer and the property needs to be valued at a maximum of $1.5 million.
It's important to note that land value is not the same as property value. Land value ends up being lower than the value of a full home (which includes the value of the building and the land).
Is avoiding stamp duty cheaper?
While it lowers your upfront costs, the land tax option can end up being more expensive. Buyers could be looking at an annual tax bill of $2,000 or higher. Because it's charged annually for as long as you own the property, the longer you own the home the more expensive it becomes.
If you had to pay $10,000 in stamp duty but $2,000 a year in land tax, in just 6 years the land tax option would cost you more.
But if you had a very large stamp duty bill, say $40,000, then it could take many years for the land tax option to cost more. The right choice for you really depends on:
- Your stamp duty bill (and whether you are eligible for an exemption or discount).
- Your land value and the annual land tax cost.
- How long you think you'll be living in the property (you'll stop paying the land tax when you sell the property).
Your stamp duty questions answered
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Ask a question
My wife and I live in NSW. We are parting and she is returning to her home country.
My wife wants to gift her half of our prime residence joint property to me, so that only I appear on the title.
Our propery is valued at 400/500K.
How much stamp duty will I pay for this gift?
Hi Duncan,
For this situation, it’s probably best to speak to a conveyancer or lawyer, as in some circumstances of relationship break-ups stamp duty may not be payable.
Thanks,
Rebecca
My sister and I inherited the family home in the late 1990’s. She has asked me to buy her Half share of the property. It will be a simple transaction , price has been agreed and she will be taken off the title. The house is in NSW it is not a first home.
Will I have to pay stamp duty?
Hi Megan, thanks for your inquiry. According to the official definition for Stamp Duty in NSW, I believe you will have to pay stamp duty.
“You are liable to NSW stamp duty if you are involved in a sale or transfer of land (including improvements) or a business in NSW.
A liability for stamp duty arises when the sale or transfer occurs and it is immaterial whether or not the transaction is effected by a written instrument or by other means, including electronic means.”
Hope this helps.
Thanks,
Jonathan
We are buying a unit off the plan and are downsizing which won’t b finished until July 2018 why do we have to pay stamp duty before that time is there any benefits for older people
Hi James,
Thank you for your inquiry.
Generally, stamp duty becomes payable within three months from the date in which the liability arose. If the property is purchased off-the-plan, the stamp duty must be paid within three months from the date of the completion of the agreement or the assignment of the purchaser’s interest in the agreement.
I hope this information has helped.
Cheers,
Harold
If I am purchasing residential property in NSW (not off the plan) when does Stamp Duty become payable? Is it 3 months after completion or 3 months after contract exchange?
Hello Wayne,
Thank you for your inquiry.
According to NSW’s taxes, duties, levies, and royalties, duty must be paid within three months from the liability arising. This arises when the sale or transfer occurs.
You can check the above link for further information.
Hope this helps.
Cheers,
Jonathan
How long do I need to live in the property to have first time owner free stamp duty under $650.000?
Hi Loren,
Thank you for your comment.
One of the eligibility criteria to qualify for the First Home Owners Grant is to occupy the property as your principal place of residence within 12 months of the settlement and live in it continuously for at least six months. You may check our state-by-state guide to the First Home Owners Grant. You may also be eligible for a stamp duty exemption or concession if you qualify for the First Home Buyers Assistance Scheme under the FHOG in NSW.
Hope this helps.
Regards,
Jhezelyn