Full stamp duty relief is available to eligible first home buyers who enter into a contract to purchase a new home, an off-the-plan apartment, vacant land or house and land (contract to build - comprehensive building contract) on or after 6 June 2024.
For eligible first home buyers who have entered into a contract prior to 6 June 2024, a full or partial reduction of stamp duty still applies for further information see Government of South Australia (RevenueSA) website for contracts entered into between 15 June 2023 and 5 June 2024.
For more information on first home buyer eligibility and how the relief is applied, please refer to the Government of South Australia (RevenueSA) website.
The RevenueSA Application for Stamp Duty Relief for Eligible First Home Buyers Form is also available for use in your Smokeball Precedent Library.
Using the Smokeball Stamp Duty Calculator
Smokeball's Stamp Duty Calculator will check the following information from your matter to calculate the Stamp Duty relief:
- the entered contract date (if no date is entered, it will assume today's date);
- the entered dutiable value (for a transfer this will be either consideration or market value, whichever is greater); and
- the selected concession type.
Contract Date on or after 6 June 2024
If the contract day is on or after 6 June 2024, or no contract date is entered on the matter, Smokeball's Stamp Duty Calculator will check if First Home Buyer Stamp Duty Relief has been selected from the Concession Type drop down menu and return full relief accordingly.
Contract Date between 15 June 2023 and 5 June 2024
If the contract date entered on the matter is 5 June 2024 or earlier, Smokeball's Stamp Duty Calculator will check which First Home Buyer Stamp Duty Relief type has been selected from the Concession Type drop down menu and return the appropriate relief based on the following criteria:
- First Home Buyer Stamp Duty Relief (new home) which includes the following properties:
- a new home (house, flat, unit, townhouse or apartment); or
- an off-the-plan apartment.
- First Home Buyer Stamp Duty Relief (vacant land) which includes the following properties:
- a house and land package (contract to build - comprehensive building contract); or
- vacant land to build a new home on.
Full stamp duty relief applies to the dutiable value of the property, as follows:
- new home with dutiable value of $650,000 or less,
- vacant land with dutiable value of $400,000 or less.
Partial stamp duty relief applies to the dutiable value of the property, as follows:
- new home with dutiable value below $700,000,
- vacant land with dutiable value below $450,000.
Foreign ownership surcharge:
- will not apply when there is a full reduction i.e. when there is no stamp duty payable,
- applies when there is a partial or no reduction i.e. when stamp duty is payable.
This Stamp Duty Relief is calculated using the formulas provided on the Government of South Australia (RevenueSA) website where you can also find the RevenueSA calculator.
Purchase Matter Stamp Duty Calculator
Conveyancing Details: Contract & Settlement Details
- Go to the Conveyancing Details layout and select the Contract & Settlement Details tab.
- Enter the Purchase Price.
- Enter the Contract Date (or leave blank to use today's date).
Conveyancing Details: Stamp Duty, Tax & Registration
- Select the Stamp Duty, Tax & Registration tab.
- Enter Foreign Interest percentage (if applicable).
- Select a First Home Buyer Stamp Duty Relief type.
- The reduction (if within the threshold) will be calculated, showing the Concession amount in less Concession and the total Duty Payable. For example:
Transfer Matter Stamp Duty Calculator
The Stamp Duty Calculator on Transfer Details will use the dutiable value (consideration or market value, whichever is greater) together with the selected First Home Buyer Stamp Duty Relief type:
To calculate the reduction (if within the threshold), see the Concession amount in less Concession and the total Duty Payable. For example: