The same $800,000 property costs $29,025 in stamp duty in Queensland, approximately $27,940 in New South Wales, and roughly $44,770 in Victoria — a difference of over $15,000 for the same purchase price in a different postcode. Stamp duty is not a national tax. Every state and territory sets its own brackets, first-home concessions, and foreign purchaser surcharges, and the differences are large enough to change which property you can afford. This article compares transfer duty across all eight Australian jurisdictions at four purchase prices — $600,000, $900,000, $1,200,000, and $1,500,000 — and shows how the upfront cost flows through to your deposit, LVR, and borrowing capacity under APRA’s 3% serviceability buffer. The pattern is consistent: states with strong first-home concessions (Queensland, South Australia, ACT) allow buyers to carry a lower LVR at any given deposit level, which unlocks better interest rates and higher maximum loans. States with narrower relief and higher foreign surcharges push LVRs up and borrowing power down.
How State Stamp Duty Differences Affect Borrowing Power
Before comparing the numbers, it is worth understanding the mechanism. When you buy a property, the lender values the property and calculates the loan amount based on the lower of the purchase price and the valuation. Your deposit is the gap — and stamp duty must be paid from that deposit before the loan is funded.
If you have saved $120,000 and face $30,000 in stamp duty on a $600,000 purchase, your net deposit is $90,000, creating a loan of $510,000 and an LVR of 85%. At 85% LVR, lenders typically apply an LMI premium and a rate loading above the 80% LVR tier. Under the APRA buffer, the higher product rate and the LMI cost combine to reduce assessed borrowing capacity by a meaningful amount.
If you face zero stamp duty — as a first-home buyer in Queensland on a new build, or in South Australia on a new home, or in the ACT under the HBCS — your entire $120,000 deposit goes to equity. You reach the 80% LVR threshold, avoid LMI, access the lender’s sharpest rate, and maximise your borrowing capacity under the buffer.
The dollar difference in duty is not just a one-off cost at settlement; it is a lever on your LVR that changes your interest rate for the life of the loan. For a full explanation of how the buffer and DTI cap interact, see our guide on APRA’s 3% serviceability buffer in 2026.
Stamp Duty at $600,000 — Entry-Level Comparison
At $600,000, assuming a general-rate buyer with no first-home concessions, the transfer duty across the eight jurisdictions is:
In New South Wales, the general duty on $600,000 is approximately $21,190. A first-home buyer would pay zero duty under the FHBAS, which provides a full exemption up to $800,000.
In Victoria, the general duty is approximately $31,070, calculated under the standard scale with the $25,001 to $130,000 and $130,001 to $960,000 brackets. A first-home buyer at $600,000 pays zero under Victoria’s exemption, which covers purchases up to $600,000 with a phase-out to $750,000.
In Queensland, the general duty is approximately $19,425. A first-home buyer purchasing a new home pays zero regardless of price; an established-home buyer at $600,000 also pays zero under the full exemption up to $700,000.
In Western Australia, the general duty is approximately $22,628. A first-home buyer at $600,000 may qualify for a full or partial exemption — the full exemption applies up to $500,000 with a phase-out, and the exact saving depends on the location (metropolitan or regional) and the phase-out formula.
In South Australia, the general duty is approximately $27,830. A first-home buyer purchasing a new home or off-the-plan property pays zero duty with no price cap; an existing-home buyer receives no first-home relief.
In Tasmania, the general duty is approximately $18,248. First-home relief for established homes expired on 30 June 2026; assistance for new homes is available through the FHOG but not via a duty concession.
In the Australian Capital Territory, the general duty under the owner-occupier concessional scale is approximately $15,600. A first-home buyer under the Home Buyer Concession Scheme pays zero duty up to a dutiable value of $1,020,000, with no income test from 1 July 2026.
In the Northern Territory, the general duty is approximately $8,800, calculated under the territory’s quadratic formula for values up to $525,000, which produces lower outcomes than the tiered scales used elsewhere by most states.
At $600,000, the spread between the cheapest and most expensive general-rate duty is over $22,000 — roughly a 3.7 percentage-point difference in LVR on a 20% deposit target. A first-home buyer in Queensland or the ACT pays nothing; a general-rate buyer in Victoria pays over $31,000.
Stamp Duty at $900,000 — Mid-Range Comparison
At $900,000, the general-rate duty across jurisdictions:
New South Wales: approximately $34,690. A first-home buyer at this price receives a partial concession under the FHBAS phase-out and pays a reduced amount rather than zero.
Victoria: approximately $47,870, including the standard brackets and the transition to the 5.5% flat rate at $960,000. A first-home buyer at $900,000 receives no relief — the exemption and concession cut off at $750,000.
Queensland: approximately $33,525. A first-home buyer purchasing a new home at $900,000 pays zero duty under the unlimited new-home exemption.
Western Australia: approximately $37,903. First-home relief phases out below this price point in metropolitan areas, so a first-home buyer at $900,000 likely pays the general rate.
South Australia: approximately $47,330. A first-home buyer purchasing a new home or off-the-plan at $900,000 pays zero — the new-home exemption has no cap.
Tasmania: approximately $33,685.
Australian Capital Territory: approximately $27,800 under the owner-occupier scale. A first-home buyer at $900,000 pays zero under the HBCS, which covers up to $1,020,000.
Northern Territory: approximately $42,500.
The spread at $900,000 between the cheapest general-rate jurisdiction (ACT) and the most expensive (Victoria) is approximately $20,000. For first-home buyers, the gap is even wider: zero duty in Queensland (new), South Australia (new), and the ACT versus up to $47,870 in Victoria.
At this price point, the duty differential represents approximately 2.2 percentage points of LVR on a 20% deposit. A borrower who avoids $30,000 in duty by choosing a concession-eligible property in Queensland instead of Victoria keeps that money in their deposit and can reduce their LVR from roughly 83% to 80% — crossing the threshold that unlocks the lender’s best rate and avoids LMI.
Stamp Duty at $1,200,000 — Upper-Mid Comparison
At $1,200,000:
New South Wales: the duty is approximately $48,190, sitting in the $387,001 to $1,290,000 bracket. A first-home buyer receives no FHBAS relief — the phase-out exhausts at $1,000,000.
Victoria: in the $960,001 to $2,000,000 range, a flat 5.5% applies to the full value, producing duty of $66,000.
Queensland: approximately $49,525, in the top bracket above $1,000,000. A first-home new-home buyer pays zero — the exemption has no cap.
Western Australia: approximately $53,678.
South Australia: approximately $66,830. A first-home new-home or off-the-plan buyer pays zero.
Tasmania: approximately $49,185.
Australian Capital Territory: approximately $41,000 under the owner-occupier concessional scale. The HBCS provides a partial concession at $1,200,000 — the full exemption covers up to $1,020,000, with a phase-out above.
Northern Territory: approximately $59,000.
At $1,200,000, the general-rate spread is approximately $25,000 between the ACT and Victoria. For first-home buyers, the difference between zero duty (Queensland new, South Australia new) and full duty (Victoria, NSW) reaches $66,000 — an 11% differential relative to a 20% deposit target. Facing $66,000 in duty on top of a $240,000 deposit requirement pushes the effective cash needed to over $300,000, which is well beyond the savings capacity of most first-home buyers at this price point without family assistance.
Stamp Duty at $1,500,000 — Premium Comparison
At $1,500,000:
New South Wales: the duty is approximately $63,790, calculated under the $1,290,001 to $3,870,000 bracket at 5.5%.
Victoria: $82,500 under the 5.5% flat rate.
Queensland: approximately $66,775.
Western Australia: approximately $69,478.
South Australia: approximately $85,330.
Tasmania: approximately $64,685.
Australian Capital Territory: approximately $56,100.
Northern Territory: approximately $75,500.
The general-rate spread at $1,500,000 is approximately $29,000. First-home concessions largely expire at this price point except in Queensland, where the unlimited new-home exemption continues to apply, and in South Australia for new homes.
For a buyer at this level, stamp duty consumes roughly 4.2% to 5.7% of the purchase price. The LVR impact is significant: if $66,000 of a $300,000 deposit goes to duty in Queensland, the effective deposit drops to $234,000 and the LVR rises to 84.4%, triggering LMI and a rate loading. If the same buyer is in South Australia and owes $85,330 in duty, the effective deposit falls to $214,670 and the LVR hits 85.7%, with a larger LMI premium and an additional rate loading.
For investors and upgraders at the premium end, even a small LVR shift changes the borrowing-capacity outcome meaningfully. Read how the Medicare Levy Surcharge interacts with higher incomes to further shape after-tax serviceability at these price points.
Foreign Purchaser Surcharges Compared
Every state imposes an additional surcharge on foreign purchasers of residential property, but the rate varies:
New South Wales imposes a surcharge purchaser duty of 9% on the full dutiable value. Victoria charges 8%. Queensland applies an Additional Foreign Acquirer Duty of 8%. Western Australia charges 7%. South Australia imposes 7%. Tasmania levies a Foreign Investor Duty Surcharge of 8%. The ACT has no foreign purchaser surcharge on transfer duty — its foreign surcharge is instead a 0.75% per annum land tax charge. The Northern Territory has no foreign purchaser surcharge at all.
The difference between the highest surcharge state (NSW at 9%) and the lowest (ACT and NT at zero) is material. A foreign buyer purchasing a $1,000,000 property in NSW pays a $90,000 surcharge on top of approximately $39,190 in general duty — a combined $129,190. The same buyer in the ACT pays approximately $32,000 in general duty with no surcharge — a difference of roughly $97,000. For a foreign investor deciding which city to buy in, the surcharge differential alone can be larger than the entire deposit gap on a standard 80% LVR application.
First-Home Concession Summary Across States
The eight jurisdictions offer meaningfully different first-home stamp duty relief:
New South Wales provides a full exemption up to $800,000 for new and existing homes, phasing out to $1,000,000, but it is weaker above $1,000,000. Victoria exempts up to $600,000, phasing to $750,000, with no distinction between new and existing. Queensland exempts new homes with no price cap and existing homes up to $700,000, phasing to $800,000. Western Australia exempts up to $500,000, phasing to $700,000 in metropolitan areas or $750,000 regionally. South Australia fully exempts new homes with no cap but excludes existing homes. Tasmania had a broad established-home exemption that expired on 30 June 2026 and now supports new homes only through the FHOG. The ACT exempts up to $1,020,000 with no income test from July 2026 and phases out above. The Northern Territory does not have a first-home stamp duty concession but offsets cost through the HomeGrown Territory Grant of $50,000.
The pattern for a first-home buyer seeking maximum relief in 2026 is clear: Queensland offers the strongest package for new-home buyers (unlimited duty exemption plus $30,000 FHOG), followed by the ACT (duty exemption to $1,020,000 with no income test) and South Australia (unlimited duty exemption for new homes plus FHOG up to $15,000).
Frequently Asked Questions
Which state has the cheapest stamp duty for a first-home buyer in 2026?
The answer depends on your purchase price and whether you buy new or existing. At $600,000 for a new home, Queensland, South Australia, the ACT, NSW, and Victoria all offer zero duty — you pay nothing in five of eight jurisdictions. At $900,000 for a new home, Queensland and South Australia continue to offer zero duty with no price cap, and the ACT offers zero up to $1,020,000. NSW and Victoria offer no relief at $900,000. At $1,200,000 for a new home, only Queensland and South Australia provide zero duty. For an existing-home buyer, the ACT offers zero up to $1,020,000, followed by NSW up to $800,000 and Queensland up to $700,000. The cheapest jurisdiction is whichever one exempts your specific purchase from duty.
How much does stamp duty vary between states for the same property price?
The variation is substantial and increases with price. At $600,000, general-rate duty ranges from approximately $8,800 in the Northern Territory to $31,070 in Victoria — a $22,200 spread. At $900,000, the range is approximately $27,800 (ACT) to $47,870 (Victoria) — a $20,000 spread. At $1,500,000, the range is approximately $56,100 (ACT) to $85,330 (South Australia) — a $29,200 spread. These are general-rate figures; first-home concessions create even wider differentials.
Does where I buy affect my mortgage borrowing capacity?
Yes, indirectly but materially. The stamp duty you pay in one state versus another changes your deposit, LVR, and therefore the interest rate and LMI premium a lender applies. A buyer who pays $30,000 less in duty by purchasing in Queensland instead of Victoria has $30,000 more deposited in equity, potentially crossing the 80% LVR threshold and accessing a lower rate tier. Under APRA’s buffer, that rate differential compounds across a 30-year term. The state you buy in does not change APRA’s rules, but it changes the deposit math that those rules are applied to.
Can I avoid stamp duty entirely by buying in a different state?
If you are a first-home buyer purchasing a new home and are flexible on location, you can legally pay zero transfer duty in Queensland, South Australia, or the ACT at almost any price point. In Queensland and South Australia, the new-home exemption has no cap. In the ACT, the HBCS covers up to $1,020,000 with no income test. For existing homes, the ACT provides the broadest exemption (to $1,020,000), and the full-exemption ceiling in NSW ($800,000) and Queensland ($700,000) also covers many entry-level purchases. Legally reducing your duty to zero is achievable for a first-home buyer in most states, but the price cap and property type conditions differ.
Data Sources
All duty rates and concessions in this article are sourced from official state and territory revenue office publications as at July 2026:
- Revenue NSW: https://www.revenue.nsw.gov.au/ — NSW transfer duty, FHBAS, and surcharge purchaser duty.
- State Revenue Office Victoria: https://www.sro.vic.gov.au/ — Victorian land transfer duty and first-home buyer duty exemption.
- Queensland Revenue Office: https://qro.qld.gov.au/ — Queensland transfer duty, first-home concession, and AFAD.
- WA Department of Treasury / Finance: https://www.wa.gov.au/organisation/department-of-treasury — WA transfer duty and first-home owner rate of duty.
- RevenueSA: https://www.revenuesa.sa.gov.au/ — SA conveyance duty and first-home owner relief.
- State Revenue Office Tasmania: https://www.sro.tas.gov.au/ — Tasmanian property transfer duty and FIDS.
- ACT Revenue Office: https://www.revenue.act.gov.au/ — ACT conveyance duty and HBCS.
- NT Territory Revenue Office: https://treasury.nt.gov.au/ — NT stamp duty and HomeGrown Territory Grant.
- Australian Prudential Regulation Authority — APS 220: https://www.apra.gov.au/aps-220-credit-risk-management — Serviceability buffer.
How an Arrivau Adviser Can Help
Stamp duty is a five-figure sum that changes your borrowing power. The decision of which state to buy in, what type of property to target, and whether to pursue a concession is a financial decision as much as a lifestyle one. An Arrivau licensed mortgage adviser can map the exact duty numbers for your target purchase price across all eight jurisdictions, model the LVR and borrowing-capacity outcome under each scenario, and identify lenders who structure loans to your advantage. We respond within one business day.
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Disclaimer: This article is for general informational purposes only and does not constitute financial, tax, or legal advice. Stamp duty rates, concessions, and surcharges are based on state and territory revenue office publications as at July 2026 and are subject to legislative change. For personalised advice on your borrowing capacity and duty position, speak with an Arrivau licensed mortgage adviser.