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UNMASKING THE LABYRINTH

What is Stamp Duty

Intro to Stamp duty (In NSW only)

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When you buy a property or someone transfers ownership of a property to you in NSW, you generally must pay transfer duty (stamp duty). Stamp duty is paid to Revenue NSW the authority which collect taxes, fines, fees, duties, levies and royalties, administer grants and recover debts on behalf of the people of NSW. We let you know your requirements, providing any required forms and guide you through the process, processing the stamp duty (or your exemption, if applicable) for you. See the link to find out how much Stamp duty you need to pay (always add $20 to the calculator unless it is a transfer).

How much do I need to pay?

REVENUE NSW STAMP DUTY CALCULATOR

Making the process simple for you OUR TOP PRIORITY

STAMP DUTY EXEMPTIONS

When don't I have to pay stamp duty when purchasing a property in NSW

If you are a first home buyer you may not need to pay stamp duty.

FIRST HOME BUYERS
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Should you need to transfer the ownership of property after the break up of a relationship you may be able to do so without paying stamp duty. Of course there are conditions.

BREAK UP OF RELATIONSHIP
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You can add your spouses name to a property without paying stamp duty, conditions apply.

MARRIAGE
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Should you currently be a tenant under Department of Housing, Aboriginal Housing Office, or Community Tenancy Scheme you may not need to pay stamp duty when you purchase a property.

HOUSING TENANTS

SURCHARGE DUTY

Do I need to pay surcharge duty?

Surcharge duty is payable on top of stamp duty by foreign people and is currently calculated at 8% of the purchase price or value of the property.   See below to see if you may be classified as a foreign for surcharge duty purposes. Foreigners will also pay surcharge land tax during their ownership of the property

People

You may need to pay surcharge duty if you are not an Australian Citizen or a permanent resident who has been in Australia for a least 200 days within 12 months before the date of the contract. There are some exemptions.

Corporations

A corporation is considered foreign if a person, or people, who is not an ordinary resident in Australia or a foreign corporation hold a substantial interest in the corporation.

Trusts

A trustee of a trust is considered foreign should beneficiaries or potential beneficiaries not an ordinary resident in Australia of foreign corporation hold an a substantial interest in the trust, including income or property interest.

Discretionary Trusts

Be careful. Discretionary Trusts are considered foreign unless the following are in the trust deed:
1. No beneficiary or potential beneficiary of the trust is a foreign person
AND
2. The terms of the trust cannot be amended to allow a foreign person to be a potential beneficiary in the future.

SEEKING FURTHER ADVICE

Questions? We'll Put You On A Right Path

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STAMP DUTY AND EXEMPTIONS

We deal with stamp duty and stamp duty exemptions on a daily basis.  We are happy to help all clients with their stamp duty and stamp duty exemption questions.  Phone 02 4323 2411

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SURCHARGE DUTY

We are happy to answer all clients questions in relation to surcharge duty.  Whether you believe you need to pay it or you need help deciphering the codes we will help. Phone 02 4323 2411

First Home Buyers and Stamp Duty
Stamp duty exemptions
Moving Checklist
Marriage and stamp duty
Selling A Home
Stamp duty unmasked

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