If you’re thinking about buying your first home or even an investment property in the ACT you’ll need to factor in stamp duty, as well as your home loan deposit, into your overall savings scheme. But just how much will you need to stash away to cover stamp duty in the Australian Capital Territory? Just plug in a few simple details into the fields below and let Mozo’s ACT stamp duty calculator do the rest.
Calculations valid for 2020-2021 financial year
Includes duty discounts for first home buyers but does not include state or federal grants
Some states may give further discounts or exemptions in certain circumstances
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Home loan comparisons on Mozo - rates updated daily
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
$1234
1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required.
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required.
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
$520
$0.00
$0.00
yes - free
yes - free
Optional - with 0.10% additional interest
$520
80.00%
$50,000
$1,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Smart Booster Home Loan
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2.09% p.a.
fixed 2 years
2.56% p.a.
$1234
Fixed, Owner Occupier, Principal & Interest, LVR 70-80%
2.09% p.a.
fixed 2 years
2.56% p.a.
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
2.09% p.a.
fixed 2 years
2.56% p.a.
$0
$0.00
$400.00
yes - free
yes - free
no
$0
80.00%
$150,000
$750,000
Fixed
Principal & Interest
Owner Occupier
Monthly
Read our Mozo Review to learn more about the Basic Home Loan
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2.34% p.a. variable
2.34% p.a.
$1234
Owner Occupier, Principal & Interest
2.34% p.a. variable
2.34% p.a.
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year. Free redraw with flexible repayments. Min 20% deposit.
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year. Free redraw with flexible repayments. Min 20% deposit.
2.34% p.a. variable
2.34% p.a.
$0
$0.00
$0.00
yes - free
yes - free
no
$0
80.00%
$100,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
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2.19% p.a. variable
2.19% p.a.
$1234
<60% LVR, Owner Occupier, Principal & Interest
2.19% p.a. variable
2.19% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.
2.19% p.a. variable
2.19% p.a.
$0
$0.00
$0.00
yes - free
yes - free
no
$0
60.00%
$100,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Celebrate Variable Home Loan
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1.99% p.a.
fixed 4 years
3.45% p.a.
$1234
Owner Occupier, Principal & Interest
1.99% p.a.
fixed 4 years
3.45% p.a.
Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. Free extra repayments (up to $25,000 per year) and free redraw. Enjoy local branches and call centre.
Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. Free extra repayments (up to $25,000 per year) and free redraw. Enjoy local branches and call centre.
1.99% p.a.
fixed 4 years
3.45% p.a.
$0
$395.00 yearly
$0.00
yes - free up to $25,000 p.a.
yes - free
no
$0
80.00%
$5,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$2,000 cashback when you refinance your home loan from another financial institution when you apply by 31 March 2021 and are funded by 31 May 2021, min $250k, LVR <80%
Read our Mozo Review to learn more about the Special Fixed Rate Home Loan
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1.69% p.a.
fixed 1 year
3.49% p.a.
$1234
LVR<90%, over $150k
1.69% p.a.
fixed 1 year
3.49% p.a.
Get one of the lowest rates on the market with this fixed rate mortgage. Available with just a 10% deposit. Guarantor option available. NSW, QLD and ACT residents only. Mozo Experts Choice Awards - Home Lender Bank of the Year 2020.
Get one of the lowest rates on the market with this fixed rate mortgage. Available with just a 10% deposit. Guarantor option available. NSW, QLD and ACT residents only. Mozo Experts Choice Awards - Home Lender Bank of the Year 2020.
1.69% p.a.
fixed 1 year
3.49% p.a.
$180
$0.00
$300.00
yes - fee applies
yes
no
$180
90.00%
$150,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Discount Great Rate Home Loan
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2.19% p.a. variable
2.20% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <60%
2.19% p.a. variable
2.20% p.a.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
2.19% p.a. variable
2.20% p.a.
$250
$0.00
$300.00
yes - free
yes - free
no
$250
60.00%
$80,000
$5,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Neat Home Loan
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Hot Deal $3,000 cashback when you refinance your home loan to BOQ (T&Cs apply)
1.99% p.a.
fixed 4 years
2.90% p.a.
$1234
Owner Occupier, Principal & Interest, <80% LVR
1.99% p.a.
fixed 4 years
2.90% p.a.
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $3,000 cashback when you refinance your home loan to BOQ (min. $250k lending, max 80% LVR, T&Cs apply).
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $3,000 cashback when you refinance your home loan to BOQ (min. $250k lending, max 80% LVR, T&Cs apply).
1.99% p.a.
fixed 4 years
2.90% p.a.
$450
$10.00 monthly
$350.00
yes - free up to $5,000 p.a
no
no
$450
80.00%
$150,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 28 May 2021, settle by 27 August 2021.
Read our Mozo Review to learn more about the Discount Fixed Rate
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2.17% p.a. variable
2.20% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <80%
2.17% p.a. variable
2.20% p.a.
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed.
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed.
2.17% p.a. variable
2.20% p.a.
$785
$0.00
$300.00
yes - free
yes - free
Optional - $10 per month
$785
80.00%
$200,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Well Balanced
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Hot Deal $3,288 cashback when you refinance your home loan to HSBC (T&Cs apply)
1.88% p.a.
fixed 2 years
2.86% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <80%
1.88% p.a.
fixed 2 years
2.86% p.a.
Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Refinancers borrowing $250,000 or more will receive $3288 (T&Cs, eligibility and lending criteria apply). Mozo Experts Choice Fixed Home Loan 2020 winner^
Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Refinancers borrowing $250,000 or more will receive $3288 (T&Cs, eligibility and lending criteria apply). Mozo Experts Choice Fixed Home Loan 2020 winner^
1.88% p.a.
fixed 2 years
2.86% p.a.
$270
$390.00 yearly
$300.00
yes - free up to $10,000 p.a.
no
no
$270
80.00%
$500,000
$7,500,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Receive $3,288 when you refinance a minimum of $250k for applications from 15 Feb to 30 April 2021, settled by 30 June 2021.
Read our Mozo Review to learn more about the Fixed Rate Home Loan
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1.89% p.a.
fixed 2 years
2.94% p.a.
$1234
Owner Occupier, Principal & Interest, <80% LVR
1.89% p.a.
fixed 2 years
2.94% p.a.
Competitive low rates starting from 1.89% (2.94% comparison rate) 2 years fixed for owner occupiers. No monthly account keeping fees & No loan establishment fee.
Competitive low rates starting from 1.89% (2.94% comparison rate) 2 years fixed for owner occupiers. No monthly account keeping fees & No loan establishment fee.
1.89% p.a.
fixed 2 years
2.94% p.a.
$0
$375.00 yearly
$350.00
yes - free up to $500 per month
no
no
$0
80.00%
$150,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Fixed Home Loan Special Offer
Details Close
2.09% p.a. variable
2.12% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <70%
2.09% p.a. variable
2.12% p.a.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
2.09% p.a. variable
2.12% p.a.
$849
$0.00
$500.00
yes - free
yes - free
Optional - $10 per month
$849
70.00%
$150,000
$1,500,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Special rate applies to home loan applications submitted by 31 May 2021.
Read our Mozo Review to learn more about the Variable Home Loan Special
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1.75% p.a.
fixed 3 years
2.22% p.a.
$1234
Owner Occupier, Principal & Interest
1.75% p.a.
fixed 3 years
2.22% p.a.
$0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
$0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
1.75% p.a.
fixed 3 years
2.22% p.a.
$0
$0.00
$0.00
yes - free up to $20,000 p.a.
no
no
$0
80.00%
$100,000
$2,000,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$395 Establishment fee waived for fixed rate loans that settle by 31 March 2020. Receive 1.75% 3 year fixed rate when you apply by 29 April 2021 and settle within 90 days.
Read our Mozo Review to learn more about the UHomeLoan
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2.54% p.a. variable
2.55% p.a.
$1234
LVR<80%, Owner Occupier, Principal & Interest
2.54% p.a. variable
2.55% p.a.
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more.
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more.
2.54% p.a. variable
2.55% p.a.
$0
$0.00
$350.00
Yes - free
yes - free
no
$0
80.00%
$150,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Back to Basics Special
Details Close
2.29% p.a. variable
2.23% p.a.
$1234
70-80% LVR, Owner Occupier, Principal & Interest
2.29% p.a. variable
2.23% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. To reward borrowers for paying down their home loan, Athena will now automatically lower the rate as the loan is paid down. Crowned Best New Home Loan for 2020 by the Mozo Experts.
Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. To reward borrowers for paying down their home loan, Athena will now automatically lower the rate as the loan is paid down. Crowned Best New Home Loan for 2020 by the Mozo Experts.
2.29% p.a. variable
2.23% p.a.
$0
$0.00
$0.00
yes - free
yes - free
no
$0
80.00%
$100,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Liberate Variable Home Loan
Details Close
1.99% p.a.
fixed 2 years
2.17% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <80%
1.99% p.a.
fixed 2 years
2.17% p.a.
Super low rates from an online lender and the personal support from a family run company Free extra repayments and redraw facility. Flexible repayment schedule.
Super low rates from an online lender and the personal support from a family run company Free extra repayments and redraw facility. Flexible repayment schedule.
1.99% p.a.
fixed 2 years
2.17% p.a.
$785
$0.00
$300.00
yes - free
yes - free
Optional - $10 per month
$785
80.00%
$200,000
$2,000,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Well Balanced Fixed
Details Close
2.44% p.a. variable
2.49% p.a.
$1234
LVR <70%
2.44% p.a. variable
2.49% p.a.
Find your fit with competitive home loans for borrowers with clear credit and strong employment history. Flexible repayment terms. 20 year home loan history. Get a dedicated loan consultant for the loan application process. 30% deposit required.
Find your fit with competitive home loans for borrowers with clear credit and strong employment history. Flexible repayment terms. 20 year home loan history. Get a dedicated loan consultant for the loan application process. 30% deposit required.
2.44% p.a. variable
2.49% p.a.
$710
-
$250.00
yes - free
yes - free
no
$710
70.00%
$100,000
$2,500,000
Variable
Principal & Interest, Interest Only
Owner Occupier, Investor
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Prime Home Loan
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2.34% p.a. variable
2.35% p.a.
$1234
Owner Occupier, Principal & Interest, LVR 70-80%
2.34% p.a. variable
2.35% p.a.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
2.34% p.a. variable
2.35% p.a.
$250
$0.00
$300.00
yes - free
yes - free
no
$250
80.00%
$80,000
$5,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Neat Home Loan
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2.94% p.a. variable
3.34% p.a.
$1234
Owner Occupier, Principal & Interest
2.94% p.a. variable
3.34% p.a.
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. 100% offset account.
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. 100% offset account.
2.94% p.a. variable
3.34% p.a.
$0
$395.00 yearly
$0.00
yes - free
yes - free
yes
$0
80.00%
$150,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$2,000 cashback when you refinance your home loan from another financial institution when you apply by 31 March 2021 and are funded by 31 May 2021, min $250k, LVR <80%
Read our Mozo Review to learn more about the Discounted Variable Home Loan
Details Close
2.48% p.a. variable
2.50% p.a.
$1234
Owner Occupier, Principal & Interest
2.48% p.a. variable
2.50% p.a.
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020. You'll need to be borrowing $1 million or less and have at least a 20% deposit required.
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020. You'll need to be borrowing $1 million or less and have at least a 20% deposit required.
2.48% p.a. variable
2.50% p.a.
$520
$0.00
$0.00
yes - free
yes - free
Optional - with 0.10% additional interest
$520
80.00%
$50,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Smart Home Loan 80
Details Close
Hot Deal $3,000 cashback when you refinance your home loan to BOQ (T&Cs apply)
2.59% p.a. variable
2.76% p.a.
$1234
Owner Occupier, Principal & Interest, <70% LVR
2.59% p.a. variable
2.76% p.a.
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%.
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%.
2.59% p.a. variable
2.76% p.a.
$450
$10.00 monthly
$320.00
yes - free
yes
no
$450
70.00%
$150,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 28 May 2021, settle by 27 August 2021.
Read our Mozo Review to learn more about the Economy Variable Home Loan
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2.29% p.a. variable
2.32% p.a.
$1234
Owner Occupier, Principal & Interest, LVR 70-80%
2.29% p.a. variable
2.32% p.a.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
2.29% p.a. variable
2.32% p.a.
$849
$0.00
$500.00
yes - free
yes - free
Optional - $10 per month
$849
80.00%
$150,000
$1,500,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Special rate applies to home loan applications submitted by 31 May 2021.
Read our Mozo Review to learn more about the Variable Home Loan Special
Details Close
2.19% p.a.
fixed 3 years
2.68% p.a.
$1234
Owner Occupier, Principal & Interest, LVR<80%
2.19% p.a.
fixed 3 years
2.68% p.a.
Competitive fixed rates ranging from 2.19% (2.68% comparison rate*) across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year).
Competitive fixed rates ranging from 2.19% (2.68% comparison rate*) across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year).
2.19% p.a.
fixed 3 years
2.68% p.a.
$0
$0.00
$275.00
yes - free up to $10,000 p.a.
no
no
$0
80.00%
$150,000
-
Fixed
Principal & Interest
Owner Occupier
Monthly, Fortnightly, Weekly
Read our Mozo Review to learn more about the Fixed Rate Home Loan
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WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
Like other states and territories in Australia, there is a unique system for calculating ACT stamp duty rates which takes into account both the value of your property and the type of buyer you are. This means that when it comes to paying stamp duty, you're unlikely to pay the same amount as your neighbour down the road.
That’s why using the Mozo ACT stamp duty calculator is a simple, hassle-free solution which will show you all the stamp duty costs you’ll need to pay. Once you’ve punched your own figures into the calculator you’ll be given three fees which make up your total ACT stamp duty cost:
If you ever decide to buy a property in the ACT you’re going to pay stamp duty. But what exactly is it? Also known as conveyance duty, stamp duty is a form of tax you pay on the property you buy - that applies to residential homes and land, as well as commercial property. Aside from covering the cost of legal documents, stamp duty, like other forms of tax, is used as a revenue raising mechanism by state and territory governments to fund infrastructure and services.
The stamp duty rate you pay differs from state to territory, so if you’re buying on the other side of the border in New South Wales, or in another part of Australia, you’ll need to calculate stamp duty based on a different rate.
ACT stamp duty rates and the payment system itself have actually recently been reformed, with what’s known as the ‘Barrier Free Conveyancing’ model introduced in September 2017. The new model was designed to simplify the process by reducing the number of steps involved, meaning transactions can (in theory) be processed faster.
From July 2017, ACT stamp duty rates also changed, but you can check out the most recent rates in the table below. Just remember, if you’d rather make things easy for yourself just plug your own figures into the calculator above and let the Mozo ACT stamp duty calculator do the math for you.
In short, yes it does. There are a number of exemptions on stamp duty offered in the ACT including:
Future first home buyers
From July 1 2019, first home buyers in the ACT with a household income below $160,000 will be eligible for a full exemption from paying stamp duty. The change was announced as part of the 2018-19 ACT Budget and will apply to purchases of both new and established homes.
Deceased Estates
If a property is transferred in full to a beneficiary, executor or administrator as part of a deceased estate the recipient will be exempt from paying stamp duty in the ACT. However, this changes if someone was apportioned less than 100% of the property. For example, say the beneficiary of a will received 50% of a property but wanted to buy out the remaining 50%. In this case, stamp duty would need to be paid on the second 50% and a Transmission Application form would need to be completed by the buyer.
Spouse Principal Place of Residence Transfers
Another stamp duty exemption in the ACT comes if you’re transferring residential property to your partner - which includes a spouse, civil union partner, civil partner or a de facto partner. This only applies to property which is your principal place of residence and results in it being held by both parties either as:
There are also a number of other ACT stamp duty exemptions for buyers, including matrimonial transfers, intergenerational rural transfers well as exemptions relating to trusts and superannuation, so make sure you visit the ACT Revenue Office for all the ins and outs.
As well as exemptions, certain buyers may be eligible to receive stamp duty concessions in the ACT:
Home buyer concession scheme
Under the Home Buyer Concession Scheme (HBCS), buyers who purchase a new home (including ‘off the plan’ homes) or vacant land may be eligible for a concessional stamp duty rate if their property falls within the eligible threshold and they meet personal requirements including an income test.
There are a variety of different concessional categories and brackets, so make sure you have a read through all the details to see if you qualify.
Pensioner duty concession scheme
Eligible pensioners in the Australian Capital Territory who are looking to downsize from their existing property by purchasing a smaller home may also be able to access a concessional rate on the stamp duty they need to pay. In order to qualify, applicants must meet the full pensioner requirements, and their property value must fall within one of the stamp duty concession brackets.
Disability duty concession scheme
Announced in 2016, the ACT’s Disability Duty Concession Scheme (DDCS) is aimed at incentivising adults with long-term and permanent disabilities to purchase property in the ACT via a stamp duty exemption. The scheme applies to homes (both new or established) and blocks of vacant residential land, but there are a number of requirements for applicants which can be found in full over at the ACT Revenue Office website.
What about ACT stamp duty concessions for first home buyers?
Currently there are no specific concessions on stamp duty for first home buyers in the Australian Capital Territory, though they may qualify for a concession under the Home Buyer Concession Scheme (HBCS) mentioned above. However, from July 1 2019, first home buyers with a combined household income of $160,000 or below will have their stamp duty completely waived following a policy change outlined in the 2018-19 ACT Budget.
Eligible buyers may also be able to access the ACT First Home Owner Grant (FHOG) which currently sits at $7,000 as well as taking advantage of the Federal Government’s First Home Super Saver Scheme which is available nationwide. However, from July 1 2019, the ACT First Home Owner Grant will be abolished.
Buyers under the ACT’s First Home Owner Grant (FHOG) or Home Buyer Concession Scheme (HBCS) may be able to apply for a deferment on their stamp duty payment. In order to qualify for deferment, the buyer and property must meet a number of other requirements including:
Under the new Barrier Free Conveyancing model, home buyers won’t have to pay their ACT stamp duty until after settlement, at which point they’ll have 14 days to make a payment through Access Canberra once they’ve received their notice of assessment. Buyers can choose between paying through BPAY or via an EFT payment, but interest will apply if the payment is late.
Just bear in mind that when setting up an application through the Access Canberra portal, including making your ACT stamp duty payment, you’ll need to verify your identification with a birth certificate, passport, citizenship certificate or ImmiCard.
While you won’t be able to avoid paying stamp duty on your home (unless you qualify for an exemption or concession), one of the best ways you can reduce the costs of buying a property is by grabbing a great home loan deal.
Whether you’re a first home buyer, an investor or a family upgrading to a larger house, finding the best value home loan for your own situation could mean a difference in the tens of thousands of dollars saved over the life of your loan.
Not convinced? Take this example. Say you’ve got your eye on a property in Canberra which is priced at $700,000, so you’re looking to take out a home loan worth $560,000. The first mortgage provider you see is offering a 4.25% interest rate which, according to the Mozo home loan repayments calculator, means you’d pay a total of $350,120 in interest over a 25 year loan period if you were making monthly repayments.
However, the second provider you look at offers you a slightly lower interest rate of 4.00%, making monthly repayments on that $560,000 loan over the same 25 year period. With this providers interest rate you’d end up paying a total of $326,766 in interest over the life of the loan, or just under $25,000 less - a massive difference!
So what are you waiting for? With Mozo’s unique home loan comparison tables you can compare hundreds of different home loan interest rates from a range of mortgage providers to find a great value deal which could potentially save you thousands on your own ACT property.
Let’s face it, there are a number of hurdles you’ll need to get through when it comes to purchasing your first home n the ACT - but choosing the right home loan interest rate doesn’t have to be one of them. In fact, our Home Loans Interest Rates Page does all the hard work for you, by comparing interest rates from a range of lenders in the Mozo database.