Stamp duty, also called transfer duty or conveyance duty, can materially change the cash you need to buy a first home. Every state and territory has different rates, concessions and eligibility rules. The safest approach is to estimate the general cost first, then confirm whether you qualify for any concession before relying on it.
What changes the duty estimate
The starting point is usually the property value, but first-home buyer rules can depend on more than the price. Common factors include:
- whether you will live in the property;
- whether it is an established home, new home, off-the-plan property or vacant land;
- the value threshold that applies in your state or territory;
- whether you have owned property before; and
- ownership structure, residency and timing requirements.
Those details are why an online estimate cannot certify eligibility. It can still be very useful for working out how much cash to keep aside.
Use a conservative calculator scenario first
Open the Borrowing Power Calculator and enter the property price, your savings and state or territory. Select First-home buyer and the relevant property type. The calculator asks you to confirm that you meet the eligibility rules; without that confirmation it deliberately falls back to general duty where a concession is conditional.
That is the right mindset for your own budget as well. If your contract depends on a concession, verify it with the relevant revenue office, conveyancer or lender before assuming the lower figure is available.
Why a concession is not the whole purchase budget
Even when a concession reduces duty, there may still be registration charges, legal fees, inspections, lender fees and moving costs. A concession can change the purchase calculation, but it should not be the only cash item you check.
Work through First Home Buyer Costs in Australia to build the broader budget. Then compare the final loan amount and repayment in the Repayment Estimator.
Check the official source for your location
Rules and thresholds can change, so use the calculator for a planning estimate and the state or territory revenue office for confirmation. BorrowPower records current source links in its calculator data sources, including the relevant duty authority for each state and territory.
If you are buying jointly, using a family guarantee, purchasing land or combining a government scheme with a concession, get advice before signing a contract. These situations can have conditions that do not fit a standard online calculator.
Next steps
Once you have a conservative duty figure, test how it changes the deposit you can actually contribute. The first-home deposit guide walks through that trade-off.