What are registration fees when buying a house in Qld?
Purchasing property in Brisbane or Queensland includes a fee or tax by the Queensland Government on any dutiable transactions. This tax is called Stamp Duty.
When does Transfer Duty apply?
A transfer of real property in conveyancing terms is considered any transaction where you sell, buy or transfer property such as land (house, unit or vacant land) or rights to land in Queensland.
Stamp Duty is payable on any ‘dutiable transactions’
What are Dutiable Transactions in Queensland?
Dutiable transactions may include:
a signed contract to buy or sell a home/unit or land
The gift of a half-share of a property you own to your spouse/ or relative
giving someone access across your property (an easement)
creating a trust over land that you previously owned in your own right for your children or family members.
When do I need to pay Transfer or Stamp duty?
Stamp duty is payable within 30 days of the date of the contract becoming unconditional or on settlement if earlier or the day which the contract was signed by both the Buyer and the Seller. Technically you must lodge your documents with the Office of State Revenue (Stamps Office) for stamping within 30 days from the date the contract is unconditional and pay any duty before your transfer can be completed.
Who can stamp your Transfer or Stamp Duty Documents
The Stamps Office requires time to assess and stamp your documents after you have made payment. Once your documents are stamped your Conveyancing Solicitors can complete your settlement.
Solicitors can stamp your contract ‘in house’ without the necessity of sending the documents to the Stamps Office.
All banks require a stamped transfer at settlement. Which is why a conveyancing professional can be essential to ensure you have the necessary lodgement and calculation with enough time to be ready for the day of settlement.
How much do you pay for Stamp Duty in Queensland?
As there are different types of stamp duty for different transactions it’s best to speak with your Conveyancing Solicitors so that they may calculate correctly the amount that is due.
We have a free stamp duty calculator to help you know before you sign what may be payable should you go ahead with the contract.
Can I get a transfer duty concession or exemption in Qld?
You may be eligible for a concession or exemption on your transfer duty if you meet the requirements or depending on the transaction, for example:
Duty payable on an Investment property is a standard rate
First Home Buyers are eligible for an additional concession
In some cases Home Buyers may receive a discount off the standard rate of duty
For more reading on your registration and duty fees please find the Registration Fee Calculator at the Queensland Titles Office: