Stamp Duty Reforms in NSW & QLD What’s Changing and Who Benefits
- Tanya Spencer
- 12 minutes ago
- 1 min read
Stamp duty (transfer duty in Queensland) is one of the largest upfront costs in property transactions. Planning for it correctly can prevent financial strain at settlement.
NSW Stamp Duty Concessions
In NSW, stamp duty is administered by Revenue NSW under the First Home Buyers Assistance Scheme. Eligible first home buyers may receive exemptions or reduced rates depending on property value thresholds.
However, strict conditions apply:
The buyer must move into the property within a specific timeframe.
The property must be used as a principal place of residence.
Buyers must meet citizenship or residency requirements.
Failure to meet these obligations may trigger reassessment.
Queensland Transfer Duty
In Queensland, transfer duty is governed by the Duties Act 2001 and administered by the Queensland Revenue Office.
Concessions vary based on:
Property value
Buyer status (first-home buyer vs investor)
Intended occupancy
Ownership structure
Foreign purchasers may be liable for additional surcharge duty.
Budgeting Correctly
Duty is calculated on the higher of purchase price or market value. Many buyers underestimate this cost.
📞 Need Help Calculating Your Stamp Duty?
Before you sign, contact SL Conveyancing for a clear breakdown of your stamp duty obligations in NSW or QLD.
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