Transfer Duty

The following is a guide for transfer duty concessions that may be available to you;

Transfer Duty Queensland - Concession Requirements

First Home Concession

  • you have never owned property anywhere before
  • you intend to move into the property within 12 months of settlement
  • the property will be your principal place of residence for a minimum of 12 consecutive months after you move in
  • you will not enter into a new lease of the property prior to moving into it.

Home Concession

  • you have owned property before
  • you intend to move into the property within 12 months of settlement
  • the property will be your principal place of residence for a minimum of 12 consecutive months after you move in you will not enter into a new lease of the property prior to moving into it.

First Home Vacant Land Concession

  • you have not previously held an interest in residential land (whether in Queensland or elsewhere)
  • you have not previously claimed this concession for other vacant land
  • you will build and occupy the home constructed on the land as your first principal place of residence within 2 years after the land is transferred to you
  • you will not dispose of the land before, or within 1 year after you start to occupy the residence constructed on the land as your home.

Transfer Duty Rates – Queensland

Dutiable Value      Duty rate 
Up to $5,000   Nil
$5,000 to $75,000    $1.50 for each $100, or part of $100, by which the dutiable value is more than $5,000
$75,000 to $540,000     $1,050 plus $3.50 for each $100, or part of $100, by which the dutiable value is more than $75,000
$540,000 to $1,000,000    $17,325 plus $4.50 for each $100, or part of $100, by which the dutiable value is more than $540,000
More than $1,000,000    $38,025 plus $5.75 for each $100, or part of $100, by which the dutiable value is more than $1,000,000

To estimate your duty please click here to be taken to the Office of State Revenue’s Transfer Duty Grants Calculator.


Go Back

About


Changes to REIQ Contracts for Houses and Land coming in January 2022

The Real Estate Institute of Queensland (“REIQ”) and the Queensland Law Society (“QLS”) have announced that the new standard contracts for sales of houses, land and residential units will be released in late January. The changes have been introduced to resolve some issues faced by buyers and sellers when dealing with financial delays to settlement, in addition to updating a number of issues.

View All News