Stamp Duty Rates, Discounts & Government Grants ACT & Canberra

The ACT is not as generous with their stamp duty discounts and grants as states like Victoria and Queensland. There is a stamp duty discount titled the ‘Home Buyer Concession Scheme’ (HBCS) and the First Home Owner’s Grant is also available.

Can I claim a first home owner’s stamp duty concession on an investment property?

No. The first home owner’s stamp duty discount is called the ‘Home Buyer Concession Scheme’ (HBCS). As suggested by the name if you do not plan to live in the property then you cannot claim the available concession.

“A successful application under the HBCS must comply with the following criteria:

…Applicants (and their domestic partners) must not hold or have held in the previous two years, an interest in any other land except where special circumstances apply.

At least one applicant must occupy the home for a continuous period of at least six months, beginning within 1 year of settlement or completion of construction.”[1]

Unlike other states and territories the ACT is the only one to make the concession income-tested. Meaning that if you earn above a certain amount each year then you cannot claim the concession.

The limits for income depend on how many dependent children you have.

For the thresholds see below.

Despite their overly complex stamp duty laws the ACT Revenue Office’s calculator has not even included the options of owner occupied or investment housing, first home owner or not, and the individuals income making it incorrect in certain situations.

First Home Owner’s Grant

You can get the ‘First Home Owner’s Grant’ of $7,000 only if:

  • You plan on living in the property for at least 6 months
  • The purchase price is less than $750,000

This grant is part of a federal government initiative and is offered Australia-wide.

Stamp Duty Rates & Thresholds

Home or Investment Property

Value of Property

Duty Payable

up to $100,000

$20 or 2% whichever is greater.

$100,001 to $200,000

$2,000 + 3.50% of the value over $100,000.

$200,001 to $300,000

$5,500 + 4.00% of the value over $200,000.

$300,001 to $500,000

$9,500 + 5.50% of the value over $300,000.

$500,001 to $1,000,000

$20,500 + 5.75% of the value over $500,000.

$1,000,001 and over

$49,250 + $6.75 of the value over $1,000,000.

First Home Buyer Concession

Dutiable value

Concessional duty payable

$374,000 or less

$20 (minimum duty)

$374,000 to $465,000

20.40% of the value over $374,000 ($20 minimum duty).

$465,000 or more

No concession

You are entitled to claim the First Home Buyer Concession if you are below the income thresholds below for the number of dependent children.

Number of Dependent Children

Income Threshold

0

120,000

1

123,330

2

126,660

3

129,990

4

133,320

5 or more

136,650

Stamp Duty & Grants Calculator

Want to calculate how much stamp duty you will have to pay and how much in government grants you can receive? Use our Free Online Stamp Duty & Government Grants Calculator.

References

[1] Home Duty Buyer Concession, ACT Revenue Office, 2011