If you are investing in Australian property in Victoria (VIC), New South Wales (NSW), Queensland (QLD), South Australia (SA), and Western Australia (WA), there is Australian stamp duty imposed on each state. For your convenience, we have prepared this article and have confirmed this with the relevant state authorities, but Australian tax legislation is complicated and changes can occur. We recommend for you to contact the government of the state that you’re buying in to confirm the latest figures. And if you are still in doubt, please obtain financial advice from a chartered accountant.
What is Australian stamp duty?
Stamp duty is typically a tax imposed when you make purchases on property. In Australia, there are two main jurisdictions: The federal and state governments. The federal government does not impose a stamp duty. Stamp duty, however, is imposed by the Australian states. Rates of stamp duty differ depending on the different jurisdictions.
Do states in Australia have a special stamp duty for foreigners?
Yes, different states in Australia impose a different foreign buyer duty on stamp duty.
Which states in Australia have stamp additional stamp duty charge?
7 of 8 states in Australia impose extra stamp duty foreign buyers. Here is a list of states which charge additional stamp duty for foreigners.
✅ Victoria (VIC) - If you are buying a property in Melbourne
✅ Western Australia (WA) - If you are buying a property in Perth
✅ New South Wales (NSW) - If you are buying a property in Sydney
✅ Queensland (QLD) - If you are buying a property in Brisbane
✅ South Australia (SA) - If you are buying a property in Adelaide
✅ The Australian Capital Territory (ACT)
✅ Tasmania (TAS)
❌ Northern Territory (NT)
How much is Australian stamp duty?
For Melbourne properties in Victoria (VIC): Here is how you can calculate stamp duty and how much stamp duty should cost if you are a foreign investor.
For Perth properties in Western Australia (WA): Here is how you can calculate stamp duty and how much stamp duty should cost if you are a foreign investor.
For Sydney properties in New South Wales (NSW): Here is how you can calculate stamp duty and how much stamp duty should cost if you are a foreign investor.
For Brisbane properties in Queensland (QLD): Here is how you can calculate stamp duty and how much stamp duty should cost if you are a foreign investor.
For Adelaide properties in South Australia (SA): Here is how you can calculate stamp duty and how much stamp duty should cost if you are a foreign investor.
Benefits of learning about Stamp Duty
Able to coordinate your investment plan and set realistic goals.
Able to stay in control of costs when you invest in property in Australia.
Able to take into consideration costs to your investment to identify a realistic exit.
Able to plan the distribution of equity and loan before investing in a property.
Do you have any questions related to your investment property? Or how to plan and arrange your investment property finance? Contact us or Drop us a PM on Facebook to arrange a free 40 minutes consultation via Zoom.