Updated 10 June 2018 to reflect recent changes to ACT Stamp Duty.
Read this article if you want to learn about calculating Stamp Duty in the ACT.
However, if you just want to calculate how much stamp duty you’ll have to pay, use the online stamp duty calculator if you just want calculate your costs.
Important points to note about ACT Stamp Duty
- The ACT Government call it “Conveyance Duty”.
- Recently, as part of the 2018-19 State Budget, conveyance duty was reduced for properties under $1.5M
- The current Home Buyer Discount for people purchasing a home (called the Home Buyer Concession Scheme), has very specific eligibility criteria (such as an income test).
Standard Rate of ACT Stamp Duty (Transfer Duty)
Stamp Duty really is just a tax we pay for nothing much in return.
In the ACT, the stamp duty you pay on residential property is called “Non-commercial transfer duty”.
How to Calculate Stamp duty for residential transactions from 6 June 2018:
| Your Purchase Price | Standard Rate of ACT Stamp Duty |
| $0 – $200,000 | $20 or $1.30 per $100 or part thereof, whichever is greater |
| $200,001 – $300,000 | $2,600 plus $2.30 per $100 or part thereof exceeding $200,000 |
| $300,001 – $500,000 | $4,900 plus $3.60 per $100 or part thereof exceeding $300,000 |
| $500,001 – $750,000 | $12,100 plus $4.56 per $100 or part thereof exceeding $500,000 |
| $750,001 – $1,000,000 | $23,500 plus $6.10 per $100 or part thereof exceeding $750,000 |
| $1,000,001 – $1,455,000 | $38,750 plus $6.60 per $100 or part thereof exceeding $1,000,000 |
| Over $1,455,000 | A flat rate of $4.73 per $100 of the entire value |
Use the online stamp duty calculator to calculate your costs, including some concessions.
ACT Stamp Duty Discounts
There’s various ACT stamp duty exemptions or concessions, we’ll cover all of the most common so that you can see whether or not you may be eligible for a discount or waiver of the fee.
Concessions for ACT Home Buyers
If you’re purchasing a new home in the ACT, you could be eligible for a Stamp Duty Discount via the Home Buyers Concession Scheme (HBCS).
Eligibility criteria for the Home Buyer Concession Scheme:
- For purchases of brand new homes or vacant land.
- All buyers must not have owned a property within the last 2 years, prior to entering this transaction.
- Property value thresholds:
- Brand new home with a maximum purchase price of $607,000
- Vacant land with a maximum purchase price of $329,500
- Vacant land must be built on within 6 months
- At least 1 owner must occupy for at least 1 year, within 1 year of settlement or construction completion.
- Substantially renovated homes are excluded, and no longer eligible for the concession.
- Property must have never been previously occupied, AND, must never have been previously sold as an residence (both conditions must be satisfied).
How to calculate the HBCS stamp duty in the ACT:
New Home transactions from 6 June 2018
| Your Purchase Price | Standard Rate of ACT Stamp Duty |
| $470,000 or less | $0 (zero duty) |
| more than $470,000 but less than $607,000 | $12.35 for each $100 or part thereof by which the dutiable value exceeds $470,000 ($20 minimum duty). |
| $607,000 or more | No concession |
Vacant Land transactions from 6 June 2018
| Your Purchase Price | Standard Rate of Stamp Duty |
| $281,200 or less | $0 (zero duty) |
| more than $281,200 but less than $329,500 | $12.30 for each $100 or part thereof by which the dutiable value exceeds $281,200 ($20 minimum duty) |
| $329,500 or more | No concession |
Income Threshold
No. of Dependant Children | Total gross income threshold |
0 | $160,000 |
1 | $163,330 |
2 | $166,660 |
3 | $169,990 |
4 | $173,320 |
5 or more | $176,650 |
If you think you might be eligible for the HBCS you can find more information on the State Government website and an application form.
Are there any First Home Buyer discounts?
There are currently no stamp duty concessions for a first home buyer in the ACT.
However, as a first home buyer you may be eligible for the above mentioned Home Buyer Concession Scheme, provided you meet the eligibility criteria.
But as a First Home Buyer you could be eligible for the $7,000 Grant, click here to learn more.
Other ACT Stamp Duty Exemptions or Concessions
There’s a few other scenario’s where you could be eligible for an exemption or concession of the ACT stamp duty.
You may be eligible for a concession or an exemption if:
- You have a disability (the Disability Duty Concession Scheme)
- You’re a Pensioner (the Pensioner Duty Concession, expires 30 June 2019)
- And a few other scenario’s which can be reviewed here.
When is Stamp (Transfer) Duty Payable?
ACT stamp duty is payable at the settlement date of your contract.
For transactions prior to 18 September 2017, you were required to pay stamp duty within 90 days of the contract date. Thankfully, for property buyers with long term settlements, this is no longer required and you can pay the stamp duty as part of your bank finance and settlement transactions.
Other Government Fees:
There are many possible fees that you could encounter, depending on the nature of your transaction, however in this article we’ll address only the 3 you’re most likely to encounter during a property transaction.
- Transfer Registration
- Mortgage Registration and a Mortgage Discharge Registration
In the ACT Budget each year, the Treasurer will announce changes to the fees.
Transfer Registration (when a ‘transfer of ownership’ is occurring)
In good news for the ACT, the cost of a Transfer Registration is quite cheap compared to most other States.
- Effective the 1st July 2018 the Registration of Transfer fee $386
When you purchase a property, there is a legal document that transfers the ownership of that property in to your name.
And the transfer of ownership has to be registered, and the State Government charges a fee for managing the register.
Mortgage Registration (when you are borrowing money)
The mortgage gives the bank the right to sell your property if you don’t pay them back.
- As at 1st July 2018, the Mortgage Registration fee is $145.
The mortgage registration ensures that the mortgage can be viewed by a simple title search.
This therefore prevents you from selling your home and not paying back the lender – because the transfer of ownership wouldn’t be able to happen unless the previous mortgage was discharged.
Mortgage Discharge Registration (when you are refinancing or selling)
This is payable when your existing mortgage is being discharged (released).
- Mortgage Discharge Registration Fee as at 1st July 2018 is $145.
This is usually payable when you’re refinancing.
However, if you’re purchasing a property, your new lender may prepare a Mortgage Discharge and charge you this fee. Your solicitor arranging the settlement, will pass on that fee to the seller so that you’re not out of pocket.
Resources
If you’d like more information on Stamp Duty in South Australia from the State Government Resources, you can try here:
About ACT Transfer Duty
http://www.revenue.act.gov.au/land-duties/land-duties
ACT Stamp duty concessions and exemptions
https://www.revenue.act.gov.au/home-buyer-assistance
Home Buyer Concessions
http://www.revenue.act.gov.au/home-buyer-assistance/home-buyer-concession-scheme
Transfer of Land Act (for Transfer Registration, Mortgage Registration, and other lodgement fees)
https://www.accesscanberra.act.gov.au/app/answers/detail/a_id/2108#!tabs-4
Not purchasing in the ACT?
If you’re not purchasing in the ACT, click the below link and then choose your State:
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