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Are you buying property or a vehicle in Queensland? You\u2019ll need to wrap your head around stamp duty (also known as transfer duty) in order to budget for your purchase correctly. Read on as we break down everything Queensland business owners<\/a> and residents need to know about stamp duty rates, concessions and how to figure out how much you\u2019ll actually need to pay.<\/p>\n Transfer duty, or stamp duty, is a state government tax that\u2019s applied when you buy or transfer property in Queensland. It\u2019s part of real estate purchases \u2013 including residential homes, investment properties and vacant land \u2013 and also applies to vehicle purchases, though at different rates.<\/p>\n The Queensland Government collects this tax to fund public infrastructure and services across the state. While it\u2019s a major revenue stream for the state, it\u2019s also a big additional cost for property buyers, often surging into the tens of thousands of dollars on top of the purchase price.<\/p>\n The amount of transfer duty you\u2019ll pay in Queensland depends on the dutiable value of the property and whether you qualify for any concessions. The dutiable value is usually the purchase price or market value, whichever is higher.<\/p>\n Below is the current schedule of transfer duty rates for residential and investment properties<\/a> in Queensland:<\/p>\nWhat is stamp duty in Queensland?<\/h2>\n
Queensland government property stamp duty rates<\/h2>\n
Standard transfer duty rates for property<\/h2>\n
| Dutiable value<\/th>\n | Duty rate<\/th>\n<\/tr>\n | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Up to $5,000<\/td>\n | Nil<\/td>\n<\/tr>\n | ||||||||||
| $5,000 to $75,000<\/td>\n | $1.50 for each $100 or part of $100 over $5,000<\/td>\n<\/tr>\n | ||||||||||
| $75,000 to $540,000<\/td>\n | $1,050 plus $3.50 for each $100 or part of $100 over $75,000<\/td>\n<\/tr>\n | ||||||||||
| $540,000 to $1,000,000<\/td>\n | $17,325 plus $4.50 for each $100 or part of $100 over $540,000<\/td>\n<\/tr>\n | ||||||||||
| More than $1,000,000<\/td>\n | $38,025 plus $5.75 for each $100 or part of $100 over $1,000,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\nHome concession rates<\/h2>\nIf you\u2019re buying a home to live in (not as an investment property), you could qualify for the home concession rate<\/a>:<\/p>\n
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