You are buying a $750,000 AUD property in Sydney as your first home. Stamp duty — also called transfer duty — is one of the largest upfront costs in Australian property purchases, and it varies dramatically by state. Here is what you will pay, what exemptions apply, and what traps to watch for as a foreign buyer or off-the-plan purchaser.
NSW Stamp Duty at $750,000 AUD
New South Wales uses a progressive marginal rate structure. For a $750,000 property:
| Bracket | Rate | Amount |
|---|---|---|
| $0-$14,000 | 1.25% | $175 |
| $14,001-$30,000 | 1.5% | $240 |
| $30,001-$80,000 | 1.75% | $875 |
| $80,001-$300,000 | 3.5% | $7,700 |
| $300,001-$750,000 | 4.5% | $20,250 |
| Total standard duty | $29,240 |
A standard buyer purchasing a $750,000 property in NSW owes approximately $29,240 in stamp duty. This is due at settlement, typically within 30-90 days of exchange of contracts.
First Home Buyer Exemption in NSW
NSW operates the First Home Buyers Assistance Scheme. As of the current rates:
- Full exemption: Properties up to $800,000 (new builds) — $0 stamp duty
- Full exemption: Properties up to $650,000 (existing homes) — $0 stamp duty
- Partial concession: Properties between $650,001-$800,000 (existing) — scaled reduction
On a $750,000 existing home, you fall above the full exemption threshold of $650,000. You receive a partial concession — the duty reduces from $29,240 to roughly $19,500-$21,000 depending on the exact formula.
On a $750,000 new home or off-the-plan apartment, you fall under the $800,000 threshold — full exemption applies. $0 stamp duty.
The first home buyer exemption applies only to the purchase of your principal place of residence. You must live in the property for at least 12 months within the first 12 months of purchase.
Stamp Duty by State at $750,000
Each state and territory sets its own rates and thresholds:
| State | Approx. Stamp Duty (Standard Buyer) | First Home Buyer Benefit |
|---|---|---|
| NSW | $29,240 | Partial concession above $650K; full exemption on new builds to $800K |
| VIC | $40,070 | Full exemption below $600K; partial to $750K; $0 for FHBs on new builds to $1M in some schemes |
| QLD | $24,525 | Full exemption below $700K for first homes; partial to $800K |
| SA | $34,910 | Partial concessions for first homes on new builds |
| WA | $28,285 | Full exemption below $430K; partial to $530K |
| ACT | $21,200 | ACT abolished stamp duty for FHBs on homes below $1M; transitional duty scheme in place |
| TAS | $25,660 | 50% concession for first homes |
| NT | $26,000 | Full exemption to $650K |
Victoria is particularly expensive — $40,070 on a $750,000 standard purchase. ACT has the most generous system, moving toward stamp duty abolition replaced by land tax over time.
Foreign Buyer Surcharges
If you are not an Australian citizen or permanent resident, every state applies a surcharge on top of standard duty:
- NSW: 8% surcharge on the property value ($60,000 on a $750K purchase)
- VIC: 8% surcharge ($60,000)
- QLD: 7% surcharge ($52,500)
- SA: 7% surcharge ($52,500)
- WA: 7% surcharge ($52,500)
A foreign buyer purchasing a $750,000 property in NSW owes $29,240 in standard duty plus $60,000 in foreign buyer surcharge — a total of $89,240. This is before land tax, council rates, or body corporate fees.
Foreign investment approval from FIRB (Foreign Investment Review Board) is required for most non-resident purchases. The FIRB application fee for a $750,000 property is approximately $13,200 AUD.
Off-the-Plan Concessions
"Off the plan" means you are purchasing before or during construction. In most states, stamp duty on off-the-plan apartments is calculated on the land value component at the time of contract, not the full purchase price. Since land value is typically 30-50% of the total apartment price, the dutiable value is lower.
In NSW, off-the-plan concessions apply to owner-occupiers only, and the benefit phases out on contracts above $1,000,000. A first home buyer purchasing a $750,000 off-the-plan apartment in NSW could qualify for both the off-the-plan concession and the first home buyer exemption — potentially paying $0 duty.
For investors (not owner-occupiers), off-the-plan concessions are generally not available — you pay full stamp duty on the contract price.
Land Tax vs. Stamp Duty: NSW Annual Property Tax Option
Since 2023, first home buyers in NSW with a principal residence can choose between paying stamp duty upfront OR opting into an annual property tax. The annual tax is currently $400 plus 0.3% of the land value per year.
On a property with $500,000 land value: annual tax of $1,900 vs. one-time stamp duty of $29,240 (or partial concession). The annual tax breaks even with upfront stamp duty in approximately 15 years, assuming land value stays constant. For buyers who do not expect to hold the property long-term, the annual tax option can significantly reduce entry costs.
This article provides general real estate information for educational purposes. Stamp duty rates and exemptions change regularly — verify current thresholds with the relevant state revenue office before making purchasing decisions.
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