Stamp duty on investment property in Australia is usually the second-largest upfront cost after your deposit — and unlike the deposit, you can’t borrow it. It’s paid in cash at settlement, and in some states it runs to $20,000–$35,000 on a typical investment property. Getting it wrong in your budget doesn’t just leave you short. It can kill the purchase.
This guide covers what stamp duty on investment property actually costs in each Australian state and territory in 2026, how foreign buyer surcharges work, and what you can and can’t do to minimise the bill.
What Is Stamp Duty?
Stamp duty (officially called transfer duty in most states) is a state and territory government tax applied when property changes hands. It’s calculated as a percentage of the purchase price or market value — whichever is higher. The rate is progressive, meaning higher-value properties pay a higher percentage.
As an investor, you’re generally not eligible for the first home buyer concessions or exemptions that owner-occupiers can sometimes access. You pay the standard investor rate in full.
Stamp Duty on Investment Property: State-by-State Rates in 2026
The following figures show approximate stamp duty for an investor buying at two common price points. These are calculated on the general investor rate — no first home buyer exemptions apply. Always verify current rates with the relevant state revenue office before exchanging contracts.
New South Wales
For a $600,000 investment property, stamp duty is approximately $21,540. At $800,000, it’s approximately $31,340. The top NSW rate of 5.5% applies above $1,094,000. A 9% foreign purchaser surcharge applies to residential property bought by a foreign person. Use the NSW Revenue calculator for exact figures.
Victoria
Victoria has some of the highest stamp duty rates in the country. A $600,000 investment property attracts approximately $31,070. At $800,000, it’s approximately $43,070. Victoria also applies an 8% foreign purchaser surcharge — making it particularly expensive for non-residents. Use the SRO Victoria calculator for accurate figures.
Queensland
A $600,000 investment property in Queensland attracts approximately $20,025. At $800,000, approximately $29,025. QLD’s top rate of 5.75% applies above $1,000,000. A foreign buyer surcharge of 7% applies on residential property.
South Australia
SA’s top rate of 5% applies above $300,000. A $600,000 investment property attracts approximately $26,330. At $800,000, approximately $36,330.
Western Australia
WA’s top rate of 5.15% applies above $500,000. A $600,000 investment property attracts approximately $24,815. At $800,000, approximately $35,115. WA does not currently apply a foreign buyer surcharge on residential property.
Tasmania
A $600,000 investment property in Tasmania attracts approximately $22,000–$24,000. Use the Revenue Tasmania online calculator for an accurate quote.
Australian Capital Territory
The ACT has been progressively reforming its duty system. At $600,000, transfer duty is approximately $16,200–$18,000 depending on property type. The ACT has removed its foreign purchaser surcharge.
Northern Territory
At $600,000, NT stamp duty is approximately $26,000–$28,000. The NT offers a first home owner discount that does not apply to investment properties.
Comparative Summary at $600,000
- NSW: ~$21,540
- VIC: ~$31,070
- QLD: ~$20,025
- SA: ~$26,330
- WA: ~$24,815
- TAS: ~$22,000–$24,000
- ACT: ~$16,200–$18,000
- NT: ~$26,000–$28,000
Victoria is consistently the most expensive jurisdiction for investor stamp duty. Queensland and the ACT are typically lower-cost options at common investment price points.
Foreign Buyer Surcharges
If you’re a foreign person buying residential property in Australia, most states apply an additional surcharge. As of 2026: NSW 9%, VIC 8%, QLD 7%, SA 7%, WA no surcharge, ACT no surcharge, TAS 3%. The definition of “foreign person” varies by state legislation — get advice from a property solicitor if this may apply to you.
Do First Home Buyer Exemptions Apply to Investment Properties?
No. In every Australian state and territory, first home buyer stamp duty exemptions apply exclusively to owner-occupiers buying a primary place of residence. If you buy an investment property first, you generally forfeit access to first home buyer benefits in most states. This is a key trade-off for rentvesting strategies — understand it clearly before you commit.
When Is Stamp Duty Paid?
Stamp duty is typically due at settlement — the same day you take ownership. Your conveyancer arranges payment as part of the settlement process. In some states (e.g. NSW), duty is technically due within 3 months of exchange, but it must clear by settlement day regardless. Your conveyancer will give you precise timing for your state.
Is Stamp Duty on Investment Property Tax-Deductible?
Stamp duty on an investment property is not immediately tax-deductible. Instead, it forms part of the property’s cost base for capital gains tax purposes — reducing your taxable gain when you eventually sell. This is different from ongoing expenses like interest and management fees, which are immediately deductible. For a full rundown of what IS deductible, see our complete guide to investment property tax deductions in Australia.
Full Budget: Stamp Duty Is Only Part of Your Purchase Costs
A realistic budget for a $600,000 investment property, beyond the deposit:
- Stamp duty: $20,000–$31,000 (varies by state)
- Conveyancing and legal fees: $1,200–$2,000
- Building and pest inspection: $500–$700
- Loan establishment fees: $500–$1,500
- Landlord insurance (first year): $1,000–$2,000
- Cash buffer (3 months repayments): $6,000–$10,000
If you’re working with a smaller deposit, see our guide on investing with $50k–$100k for a full breakdown of what purchase costs look like at different price points.
Can You Minimise Stamp Duty on Investment Property?
Your options are limited but real: choose a lower-duty state (QLD and ACT are consistently cheaper than VIC), be aware of price threshold jumps within each state’s rate scale, and get your ownership structure right before you buy — transferring property between structures after purchase typically triggers duty again as if it were a new purchase.
Final Thoughts
Stamp duty is a fixed cost of entering the property market as an investor. The difference between buying in Victoria versus Queensland at $600,000 is roughly $11,000 in duty alone — a real factor in interstate investment decisions. Calculate the exact duty payable before you make an offer, and make sure the cash is available alongside your deposit.
For the full purchase process, see our step-by-step guide to buying your first investment property in Australia.
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General Advice Warning: This article is general in nature and does not constitute personal financial advice. Please consult a licensed financial adviser before making investment decisions.
