Most property buyers in Queensland have to pay stamp duty, also known as transfer duty. This tax, which applies to buying a home, can be expensive – so expensive that it’s generally the largest upfront cost involved in buying a home other than a deposit.
But some categories of Queensland property buyers receive a concessional rate on stamp duty, and others don’t have to pay stamp duty at all.
We explore who they are and which schemes entitle them to a stamp duty concession and exemption. We also look at whether you qualify for a stamp duty concession or exemption and how much you could potentially save.
Jump to each section:
Home concession
The Home Concession entitles all Queensland buyers to a stamp duty concession if they’re buying a home to live in it. This essentially means owner/occupiers pay a discounted rate of stamp duty compared to investors.
Who’s eligible for the home concession?
To be eligible for the home concession, you must:
- move into the property you buy within one year of settlement and live there daily, and
- not sell, lease or grant possession of the property to anyone else before you move in.
If you’re buying with someone else, it doesn’t matter if they don’t qualify for the home concession, you’ll still be eligible for your portion of the property.
What makes you ineligible for the home concession?
Even if you meet these criteria, you may become ineligible if:
- you sell the property within a year of settlement (although you may still be entitled to a concession for the period in which you owned the home, just not the full concessional rate), or
- you demolish the dwelling and rebuild without first living in it. This applies even if you demolish and rebuild within a year.
Buying a property with existing tenants
If you buy a property that’s tenanted, you’ll only be eligible if the tenants move out within six months or when their lease expires, whichever is earlier.
If the previous owner stays in the property after settlement, they’ll also need to move out within six months. Otherwise, you won’t be eligible.
How much can I save with the home concession?
The amount you’ll save depends on the value of your home. Here are the home concession duty rates compared to the normal duty rates.
Normal duty rate
| Property value | Home concession duty rate |
| Up to $75,000 | $1.50 for every $100 or part thereof over $5,000 |
| Up to $540,000 | $1,050 plus $3.50 for every $100 or part thereof over $75,000 |
| $540,000 to $1,000,000 | $17,325 + $4.50 for every $100 of part thereof over $540,000 |
| Over $1,000,000 | $38,025 + $5.75 for every $100 or part thereof over $1,000,000 |
Home concession duty rate
| Property value | Home concession duty rate |
| Less than $350,000 | $1 for each $100 or part thereof |
| $350,001 to $540,000 | $3,500 + $3.50 for every $100 or part thereof over $350,000 |
| $540,000 to $1,000,000 | $10,150 + $4.50 for every $100 or part thereof over $540,000 |
| Over $1,000,000 | $30,850 + $5.75 for every $100 or part thereof over $1,000,000 |
This translates as a saving of $7,175 in most cases, as the table below shows.
| Property value | Normal duty payable | Duty payable with home concession | Saving |
| $400,000 | $12,425 | $5,250 | $7,175 |
| $800,000 | $29,025 | $21,850 | $7,175 |
| $1,200,000 | $49,525 | $42,350 | $7,175 |
| $1,600,000 | $72,525 | $65,350 | $7,175 |
First home concession
The First Home Concession entitles some Queensland first home buyers to an extra concession above the usual home concession. If you qualify, this could save you up to $15,950 on the standard stamp duty rate.
Who’s eligible for the home concession?
To be eligible for the home concession, you must:
- be buying a property worth less than $550,000
- be over 18
- never have owned residential property in Australia or overseas
- never have claimed the first home vacant land concession
- move into the property you buy within a year of settlement and live there daily, and
- not sell, lease or grant possession of the property to anyone else before you move in.
If you’re buying with someone else, it doesn’t matter if they don’t qualify for the home concession. You’ll still be eligible for your portion of the property.
What makes you ineligible for the home concession?
Even if you meet these criteria, you may become ineligible if:
- you sell the property within a year of settlement (although you may still be entitled to a concession for the period in which you owned the home, just not the full concessional rate), or
- if you demolish the dwelling and rebuild without first living in it. This applies even if you demolish and rebuild within a year.
Buying a property with existing tenants
If you buy a property with existing tenants, you’ll only be eligible if they move out within six months or when their lease expires, whichever is earlier.
If the previous owner stays in the property after settlement, they’ll also need to move out within six months.
How much can I save with the first home concession?
To calculate how much you’ll save on the first home concession, you deduct a set amount from the home concession, depending on the property’s value. We’ve set out how much to deduct in the table below.
Amount to deduct from the home concession:
| Property value | Amount to deduct from home concession |
| Up to $504,999.99 | $8,750 |
| $505,000 to $509,999.99 | $7,875 |
| $510,000 to $514,999.99 | $7,000 |
| $515,000 to $519,999.99 | $6,125 |
| $520,000 to $524,999.99 | $5,250 |
| $525,000 to $529,999.99 | $4,375 |
| $530,000 to $534,999.99 | $3,500 |
| $535,000 to $539,999.99 | $2,625 |
| $540,000 to $544,999.99 | $1,750 |
| $545,000 to $549,999.99 | $875 |
| $550,000 or more | Nil |
You can read more about the first home concession on the Queensland Government website.
First home vacant land concession
Queensland first home owners who buy vacant land could be eligible for the first home vacant land concession. If you qualify, you could save up to $7,175 on the standard rate of stamp duty.
Who’s eligible for the first home vacant land concession?
To be eligible for the first home vacant land concession, you must:
- be buying vacant land valued between $320,000 and $400,000
- be over 18
- never have owned residential property in Australia or overseas
- never have claimed the first home vacant land concession
- move into the property you buy within two years of settlement and live there daily
- build only one home on the land, and
- not sell, lease or grant possession of the property to anyone else before you move in.
If you’re buying with someone else, it doesn’t matter if they don’t qualify for the home concession, you’ll still be eligible for your portion of the property.
What makes you ineligible for the home concession?
Even if you meet these criteria, you may become ineligible if:
- you sell the property within a year of settlement (although you may still be entitled to a concession for the period in which you owned the home, just not the full concessional rate)
- you demolish the dwelling and rebuild without first living in it. This applies even if you demolish and rebuild within a year.
Buying a property with existing tenants
If you buy a property with existing tenants, you’ll only be eligible if they move out within six months or when their lease expires, whichever is earlier.
If the previous owner stays in the property after settlement, they’ll also need to move out within six months.
How much can I save with the first home concession?
To calculate how much you’ll save on the first home concession, you deduct a set amount from the full duty rate, depending on the property’s value. We’ve set out how much to deduct in the table below.
Amount to deduct from the full duty rate
| Property value | Amount to deduct from full duty rate |
| Up to $250,000 | All duty |
| $250,000 to $259,999.99 | $7,175 |
| $260,000 to $269,999.99 | $6,700 |
| $270,000 to $279,999.99 | $6,225 |
| $280,000 to $289,999.99 | $5,750 |
| $290,000 to $299,999.99 | $5,275 |
| $300,000 to $309,999.99 | $4,800 |
| $310,000 to $319,999.99 | $4,325 |
| $320,000 to $329,999.99 | $3,850 |
| $330,000 to $339,999.99 | $3,375 |
| $340,000 to $349,999.99 | $2,900 |
| $350,000 to $359,999.99 | $2,425 |
| $360,000 to $369,999.99 | $1,950 |
| $370,000 to $379,999.99 | $1,475 |
| $380,000 to $389,999.99 | $1,000 |
| $390,000 to $399,999.99 | $525 |
| $400,000 or more | NIL |
Want more?
You can read more about stamp duty exemptions and concessions on the Queensland Government website.
This article was originally published on
10 Oct 2023 at 10:08am
but has been regularly updated to keep the information current.