Warlimont & Nut

Transfers of Land overview

All transfers of land (including gifts) attract duty. Unless an exemption or concession applies, the transaction is charged with duty based on the greater of:

• the market value of the property, or
• the consideration (price paid) - including any GST.

The purchaser or transferee is liable to pay the duty within 3 months of settlement.

Duty Rates & Exemptions

The rates of duty are different depending on when the contract to purchase property is entered into:

For contracts entered into on or after 6 May 2008 - The rate of duty charged is on a sliding scale down from a top rate of 5.5% for property valued at more than $960,000 to a base rate of 1.4% for properties valued at not more than $25,000.

There are some of the exemptions and concessions from duty that are available under the Duties Act 2000. These include but are not limited to:

• Pensioner
• First Time Owner with Family
• Principle Place of Residence

Last updated 25.8.11

Useful links:

Transfer of Land Overview - click here 

Duty Rates - click here

Exemptions -click here

Pensioner - click here

First Time Owner with Family - click here

Principle Place of Residence - click here

Overseas Buyers (FRIB) -click here