How is Stamp Duty Calculated in New South Wales?

17 Mar

As with other states, stamp duty in NSW is calculated as a percentage of the property’s purchase price. The amount you pay depends on the property’s value. Below is a simplified breakdown of how stamp duty is calculated:

NSW Stamp Duty Rates (Effective from 1 July 2024)

$0 to $17,000: $1.25 for every $100 (minimum $20)
$17,001 to $36,000: $212 plus $1.50 for every $100 over $17,000
$36,001 to $97,000: $497 plus $1.75 for every $100 over $36,000
$97,001 to $364,000: $1,564 plus $3.50 for every $100 over $97,000
$364,001 to $1,212,000: $10,909 plus $4.50 for every $100 over $364,000
Over $1,212,000: $49,069 plus $5.50 for every $100 over $1,212,000

For detailed calculations, you can use the official NSW government stamp duty calculator.

Example Calculation

Let’s say you’re buying a property in NSW for $1.2 million:

The property falls into the $364,001 to $1,212,000 range.
The base stamp duty is $10,909.
The amount exceeding $364,000 is $836,000.

Calculate $836,000 at $4.50 per $100:

$836,000 ÷ $100 = 8,360
8,360 × $4.50 = $37,620

Total stamp duty: $10,909 + $37,620 = $48,529.

For other property values, visit the NSW Revenue website for stamp duty rates.

Foreign Buyers: Stamp Duty Surcharge Increase

Foreign investors purchasing property in NSW currently pay an 9% Foreign Investor Duty Surcharge (FIDS) on top of standard stamp duty. This went up from 8% as of 1 January 2025.

Exemptions and Concessions

Exemptions and concessions may be available for specific buyers in NSW, such as first-home buyers and pensioners. These are subject to eligibility requirements, and details are not explicitly covered in the provided links. For more information, refer to the NSW government website.

Budgeting for Stamp Duty

Stamp duty can be a substantial cost, so it’s important to factor it into your property-buying budget. Here are some tips:

Use an Online Calculator
The NSW government stamp duty calculator is a great tool to estimate costs.
Factor it into Your Deposit
Include stamp duty in your upfront costs to avoid surprises during settlement.
Consult a Professional
Speak to a mortgage broker or solicitor for personalised advice on managing stamp duty and other property-related expenses.

Disclaimer

Stamp duty rates and exemptions are subject to change. The information provided here is derived from the NSW Revenue website and is accurate as of early 2025. Always check with Revenue NSW or consult a professional for the latest updates.

Jim Love