FOR THE PURCHASE OF A PRINCIPAL PLACE OF RESIDENCE
*N.B. Different Dutiable Value Range and Rate applies to Eligible First Home Buyers.
Change to Director/Company details:
Dutiable Value Range*
1.4 % of the dutiable value of the property
$2,870 plus 5 % of the dutiable value in excess of $130,000
$18,370 plus 6 % of the dutiable value in excess of $440,000
$0 - $25,000
$25,001 - $130,000
Rate*
$130,001 - $440,000
$440,001 - $550,000
More than $550,000
$350 plus 2.4 % of the dutiable value in excess of $25,000
The principal place of residence concessional rate does not apply. Please refer to the general land transfer duty rates.
FOR OTHER PROPERTY
Change to Director/Company details:
Dutiable Value Range
1.4 % of the dutiable value of the property
$2,870 plus 6 % of the dutiable value in excess of $130,000
$0 - $25,000
$960,000 - $2,000,000
More than $2,000,000
$25,001 - $130,000
Rate
$130,001 - $960,000
$350 plus 2.4 % of the dutiable value in excess of $25,000
5.5% of the dutiable value
$110,000 plus 6.5% of the dutiable value in excess of $2,000,000
N.B. All duty rates are subject to 8% surcharge for foreign persons, companies or trusts
DUTY CONCESSIONS – COMMON EXAMPLES
Change to Director/Company details:
Transfers between spouses or domestic partners
No duty payable
*Transfers subject to regulatory requirements
Purchases up to $330,000 – no duty
Purchases up to $750,000 – part exemption
Purchase up to $600,000 – Duty exempt
Purchase $600,001 - $750,000 Duty concession available
Duty concession for OTP primary residence only (under certain thresholds)
Superannuation – in specie contributions to fund
Trusts – from trustee to beneficiary (or vice versa)
No duty payable on principal place of residence only and consideration issues apply
Eligible pensioners, concession card holders and Commonwealth seniors health card holders
Off the plan
No duty payable (in certain circumstances)
First Home Buyers - Purchase of Principal Place of Residence
*Subject to residency and other property ownership requirements
Change to Director/Company details:
Total taxable value of landholdings*
Nil
$975 plus 0.5% of amount > $600,000
< $300,000
$1,000,000 to < $1,800,000
$300,000 to < $600,000
Land tax payable*
$600,000 to < $1,000,000
$375 plus 0.2% of amount > $300,000
$2,975 plus 0.8% of amount > $1,800,000
$3,000,000 and over
$1,800,000 to < $3,000,000
$24,975 plus 2.55% of amount > $3,000,000
$9,375 plus 1.55% of amount > $1,800,000
N.B. *Anticipated to change at 1 January 2022.
N.B. All land tax rates are subject to surcharges for trusts and foreign absentee owners
N.B. Vacant Residential Property Tax of 1% of Capital Improved Value applies on vacant properties in inner and middle suburbs from 1 July 2018 (assessed on vacancy criteria from 1 July 2017)
The information contained in this app is intended to be of a general nature only and should not be relied upon as legal advice. Any legal matters should be discussed specifically with one of our lawyers.
Liability limited by a scheme approved under Professional Standards Legislation
View our legal disclaimer