Stamp duty concessions across Australia


Looking to downsize your home? This guide gives you the lowdown on seniors' stamp duty concessions across Australia.

Stamp duty, or transfer duty, is a payment you make to a state or territory government when purchasing property, which is generally calculated on the value of the property. It is a major source of revenue for state and territory governments.

Just two states, Victoria and Tasmania, and the two territories, the ACT and NT, offer seniors a stamp duty concession. This concession assists seniors to downsize to more suitable homes as they get older.

Queensland, New South Wales, South Australia and Western Australia do not currently offer a seniors-specific stamp duty concession, although WA does have a general concession for off-the-plan apartments (as at 20 April 2020).

The following table provides a list of those jurisdictions offering a stamp duty concession and information about the value of the concession and thresholds used to determine eligibility.

Table 1: Lower and upper property value thresholds, value of concession at a lower property threshold and stamp duty payable at full concession rate (As at 30 April 2020 and subject to change).

#The ACT is transitioning to land tax and has reduced the stamp duty concession in accordance with this ongoing change. Learn more here.

A breakdown is provided below. Click on the '+' symbol to expand the content relevant to you.

Victoria


Pensioner duty exemption or concession:

You can receive a one-off duty exemption/concession as an eligible pensioner when you buy a new or established home valued up to $750,000 to live in as your principal place of residence.

In Victoria, a full waiver of stamp duty is available for houses purchased under $330,000 (there is no concession available for land purchases. The value of the concession declines until the upper threshold of $750,000 is reached. Beyond this there is no concession available. The full value of the concession is $12,870.

Eligibility

  • Pensioner Concession Card
  • Health Care Card
  • Commonwealth Seniors Health Card
  • GOLD Repatriation Health Card.

Source: State Revenue Office Victoria

Northern Territory


Senior, Pensioner and Carer Concession:

Is to assist eligible senior citizens, pensioners and carers that are not first home owners, in acquiring a home or land on which to build a home by reducing the stamp duty that would otherwise be payable.

In the NT, a full waiver of stamp duty is available for houses and land purchased under $292,300. The value of the concession declines until the upper threshold of $750,000 is reached for a house and $385,000 for land. Beyond this there is no concession available. The full value of the concession is $10,000.

Eligibility

  • Pensioner Concession Card
  • Health Care Card
  • Commonwealth Seniors Health Card
  • GOLD Repatriation Health Card – This card needs to have TPI or War Widow/er imprinted within the card to be eligible
  • Repatriation Pharmaceutical Benefits Card (Orange Card)
  • DVA Pensioner Concession Card (Blue Card)
  • DVA Commonwealth Seniors Health Card.

Source: Northern Territory Department of Treasury and Finance

Australian Capital Territory


Pensioner Duty Concession Scheme:

Assists eligible pensioners, who own a residential home, to move to accommodation more suited to their needs (for example, moving from a house to a townhouse) by reducing the duty payable on their new purchase of a residential home or residential vacant land.

In the ACT, a full waiver of stamp duty is available for houses purchased under $420,000 and land under $277,200. The value of the concession declines until the upper threshold of $530,000 for a house and $385,000 for land. Beyond this there is no concession available. The full value of the concession for a house is $8,680. ACT are transitioning to land tax and therefore the value of the concession has recently declined.

Eligibility

  • Pensioner Concession Card
  • Disability Support Pension recipient, 50 years of age or more and holding a Pensioner Concession Card; or
  • Department of Veterans’ Affairs Gold Card for one year prior to the transaction.

Tasmania


Duty concession for pensioners downsizing to a new home

The concession provides a 50 per cent discount on property transfer duty for eligible pensioners who sell their former home in Tasmania and downsize by buying another home in Tasmania.

In Tasmania, a new concession was introduced for a limited time, which provides a 50 per cent discount on transfer duties for a newly purchased property valued at less than $400,000 provided it is of lesser value than the home being sold until 30 June 2019. This concession was extended to 30 June 2020.

Eligibility

Must be aged 60 years or over and:

  • hold a Pensioner Concession Card; or
  • receive a DVA special rate pension; or
  • hold a Commonwealth Seniors Health Card.

Information current as at 20 April 2020.

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