Transfer Duty

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<h2>What is Stamp Duty?</h2>

<p>Stamp duty, or transfer duty as it’s known in  Queensland, is a once-off government tax on buying property payed by the purchaser. It is based on the purchase price and calculated via a scale, in a similar manner to income tax.</p>

<p>The state government has a “general rate” of stamp duty which is payable by people purchasing an investment property. It then provides a concessional rate for those buying a home, as well as further concessions for first home buyers..</p>

<p>Pictured below is a full tabulation of how transfer duty is calculated in Queensland</p>

<p><img alt="" height="288" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/qld_stamp_duty.jpg" width="695"></p>

<h2>Stamp Duty Concessions for First Home Buyers </h2>

<p>First home buyers purchasing either an established or off the plan property valued under $550,000 receive a further concession under the “first home concession”.</p>

<p>To be eligible, you’ll need to:</p>

<ul>
<li>Have never previously claimed the first home or first home vacant land concession</li>
	<li>Never have owned a residence in Australia or overseas</li>
	<li>Move into the property within a year of settlement</li>
	<li>Not sell the property within a year of settlement.</li>
</ul>
<p>If you meet these criteria, you’re entitled to the following discount on top of the home concession rate:</p>

<p><img alt="" height="436" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/qld_stamp_duty_fhb_0.jpg" width="698"></p>

<h2>Stamp duty on foreign purchasers</h2>

<p>However, these rates don’t apply to all buyers or all types of property purchases. Foreign purchasers often have to pay additional duty of up to seven percent.</p>

<p>You can read more about the stamp duty provisions affecting foreign purchasers on the <a href="https://www.qld.gov.au/housing/buying-owning-home/advice-buying-home/transfer-duty/how-much-you-will-pay/calculating-transfer-duty/estimate-transfer-duty" target="_blank">State Revenue Office website</a>.What about if I buy off the plan?</p>

<h2>Off the Plan stamp duty </h2>

<p>Unlike some State and Territories, Queensland has no special concessional stamp duty rate for buyers making “off the plan” purchases.</p>

<h2><strong>Stamp duty exempt apartments in Queensland</strong></h2>

<p><strong>1. Chevron One, Surfers Paradise</strong><br>
Address: 36-44 Stanhill Drive, Surfers Paradise QLD 4217<br>
One-bedroom apartments from $480,000</p>

<p>[smartcode_project:default project_id=6515]</p>

<p><strong>2. Quay Waterfront, Newstead</strong><br>
Address: 57 Skyring Terrace, Newstead, QLD 4006<br>
One-bedroom apartments from $475,000</p>

<p>[smartcode_project:default project_id=90553]</p>

<p><strong>3. Miles Residences, Kirra</strong><br>
Address: Corner Miles Street &amp; Marine Paradise, Kirra QLD 4225<br>
One-bedroom apartments from $545,000</p>

<p>[smartcode_project:default project_id=22476]</p>
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Stamp duty, or transfer duty as it’s known in  Queensland, is a once-off government tax on buying property payed by the purchaser

Transfer Duty

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