Stamp duty is one of the biggest hidden costs of buying a home in Australia. On a $700,000 property it can add $20,000 to $30,000 to your upfront costs — or nothing at all if you qualify for an exemption.
The good news is that first home buyers get significant concessions in most states. Here is exactly what you pay in 2026.
What Is Stamp Duty and Why Does It Matter?
Stamp duty — officially called transfer duty in most states — is a government tax on property transactions. You pay it when you buy a property and it must be paid upfront at or before settlement.
It is calculated as a percentage of the purchase price and the rate increases with the value of the property. On higher value properties it can easily reach $40,000 to $60,000 or more.
For first home buyers, understanding stamp duty matters for two reasons. First, it affects how much cash you need upfront beyond your deposit. Second, many first home buyers qualify for full exemptions or significant concessions that can save tens of thousands of dollars.
State by State Breakdown — 2026
New South Wales
First home buyers pay zero stamp duty on properties up to $800,000. A concession applies for properties between $800,000 and $1,000,000. Above $1,000,000 full stamp duty applies. This applies to both established homes and new builds.
Victoria
First home buyers pay zero stamp duty on properties up to $600,000. A concession applies between $600,000 and $750,000. Above $750,000 full stamp duty applies. Applies to established homes and new builds.
Queensland
First home buyers are exempt from stamp duty on new homes. For established homes a concession applies — check the Queensland Revenue Office for current thresholds as these are updated periodically.
Western Australia
First home buyers pay zero stamp duty on properties up to $430,000. A concession applies between $430,000 and $530,000. Above $530,000 full stamp duty applies.
South Australia
First home buyers purchasing new homes pay zero stamp duty. For established homes stamp duty applies at standard rates — SA does not currently offer a stamp duty concession on established properties for first home buyers.
Tasmania
First home buyers receive a 50% stamp duty concession on established homes valued under $750,000. This concession runs until 30 June 2026 — check with Revenue Tasmania for any extensions. New builds may have different arrangements.
Australian Capital Territory
The ACT does not charge stamp duty for eligible first home buyers under the Home Buyer Concession Scheme. The concession applies to properties up to approximately $1,000,000 and is income tested. Check the ACT Revenue Office for current income thresholds.
Northern Territory
Stamp duty concessions are available for first home buyers in the NT. Contact the NT Revenue Office for current thresholds as these are updated periodically.
What About New Builds vs Established Homes?
In several states the stamp duty exemption only applies to new builds — not established homes. This is particularly relevant in Queensland and South Australia.
If you are deciding between buying established or building new, stamp duty savings could be a significant factor in that decision. Always check the specific rules for your state before making a commitment.
Tips to Minimise What You Pay
- Check your eligibility before you start looking — knowing your stamp duty position affects your budget
- Factor stamp duty into your deposit calculations from day one — it needs to be paid in cash at settlement
- If you are close to an exemption threshold consider whether a slightly lower offer price could bring you under it
- Talk to your conveyancer or solicitor about timing — some states have specific rules about when the duty is assessed
The Bottom Line
Stamp duty can add tens of thousands to your upfront costs — or nothing at all if you qualify for an exemption. The rules vary significantly between states and change periodically so always verify the current thresholds before you buy.
Use the NestPath stamp duty calculator to see exactly what stamp duty applies to your situation based on your state, property type and first home buyer status.
One more piece to get right: your conveyancer handles the stamp duty payment and any exemption application at settlement — the wrong conveyancer can miss a concession you qualify for and cost you thousands. And before you even start looking, talk to a mortgage broker — a good broker will factor stamp duty (or the absence of it) into your real property budget so you don't blow the deposit on a property that triggers the tax.
Frequently Asked Questions
How much is stamp duty for first home buyers in each Australian state?
It varies significantly. NSW: exempt up to $800,000. VIC: exempt up to $600,000. QLD: concessions up to $700,000 for established homes, full exemption for new homes. WA: exempt up to $430,000. SA: exempt for new homes. TAS: exempt up to $750,000 until June 2026. ACT: exempt up to $607,500.
Can first home buyers avoid stamp duty completely?
Yes, if your property falls within your state's exemption threshold. For example, in NSW a first home buyer purchasing under $800,000 pays zero stamp duty. Above the threshold, concessional rates apply up to a second cap. Check your state's current thresholds.
Is stamp duty paid at settlement or before?
Stamp duty is typically due at or shortly after settlement — your solicitor or conveyancer handles the payment and any exemption applications. In most states you have 30 days after settlement to pay. Budget for it in advance even if you expect an exemption.
