Budgeting for Transfer Duty in Queensland: What You Need to Know
If you’ve just made an offer on a house or you're thinking about buying, there’s one cost that often catches people off guard: transfer duty (formerly called stamp duty).
You’ve probably already been crunching the numbers on your deposit, mortgage, legal fees, and moving costs — but transfer duty can add thousands to the total, depending on your situation.
As a conveyancing solicitor in Mackay, I speak with clients who say, “I didn’t realise stamp duty would be that much!”. This is because, it depends on your situation and the contract price! I have whipped up a simple, free guide to help buyers (especially first home buyers) understand what to expect — including a link to the QRO transfer duty estimator, and a brief overview of concessions that may apply.
So, What Is Transfer Duty?
Transfer duty is paid to the Queensland Revenue Office (QRO) when you buy or transfer property. It is calculated based on the higher of:
The purchase price, or
The market value.
If you’re buying from a family member or getting a property as a gift, QRO will require evidence of value — usually a valuation report or a market appraisal with comparable sales.
Good News: You Might Not Have to Pay the Full Amount
There are several concessions available, including:
First Home Concession — for first-time buyers of an existing home
First Home Vacant Land Concession — if you’re buying land to build
First Home New Home Concession — for new builds or homes under construction
Principal Place of Residence (PPR) Concession — if you’re moving in but you’ve owned before
There are also some exemptions, like in certain spousal transfers — which can reduce or eliminate the duty payable.
How We Can Help
At Lawson Lawyers , we are registered self-assessors with QRO. That means we can:
Estimate your transfer duty
Check your eligibility for concessions or exemptions
Prepare and lodge all the required QRO forms on your behalf
We are happy to give you an estimate — just send through the contract price (or market value) and let us know if you’re buying from a related party.
Download the Free Guide
If you’re budgeting for your next property, grab your free guide so you have it handy when you need it.