In short. A first home buyer pays no transfer duty on an established Queensland home of $700,000 or less5, and a reduced amount on one under $800,0006. Buy a brand-new home or land to build on and the concession is no duty, no value cap7. Owner-occupiers who are not first home buyers use the home concession rates.
How much is transfer duty in Queensland?
Say you are buying an established house at Chermside for $760,000. An investor pays $27,225 at general rates. An owner-occupier who is not a first home buyer pays $20,050 under the home concession. A first home buyer pays $13,110, and if the house were brand new instead, nothing at all.
Chart data
| Item | Duty payable |
|---|---|
| Investor, general rates | $27,225 |
| Owner-occupier, home concession | $20,050 |
| First home buyer, established | $13,110 |
| First home buyer, brand new | $0 |
| Price | General rates | Home concession | First home, established |
|---|---|---|---|
| $500,000 | $15,925 | $8,750 | $0 |
| $650,000 | $22,275 | $15,100 | $0 |
| $700,000 | $24,525 | $17,350 | $0 |
| $795,000 | $28,800 | $21,625 | $19,890 |
| $900,000 | $33,525 | $26,350 | $26,350 |
What are the two rate tables?
| Dutiable value | Duty |
|---|---|
| Up to $5,000 | Nil |
| Over $5,000 to $75,000 | $1.50 for each $100, or part of $100, over $5,000 |
| Over $75,000 to $540,000 | $1,050 plus $3.50 for each $100, or part of $100, over $75,000 |
| Over $540,000 to $1,000,000 | $17,325 plus $4.50 for each $100, or part of $100, over $540,000 |
| Over $1,000,000 | $38,025 plus $5.75 for each $100, or part of $100, over $1,000,000 |
| Dutiable value | Duty |
|---|---|
| Up to $350,000 | $1.00 for each $100, or part of $100 |
| Over $350,000 to $540,000 | $3,500 plus $3.50 for each $100, or part of $100, over $350,000 |
| Over $540,000 to $1,000,000 | $10,150 plus $4.50 for each $100, or part of $100, over $540,000 |
| Over $1,000,000 | $30,850 plus $5.75 for each $100, or part of $100, over $1,000,000 |
The home concession is for anyone who will live in the home, not only first home buyers, and QRO puts its value at up to $7,1753. Both tables charge each rate for every $100 or part of $100, so an odd price is rounded up to the next hundred before the rate is applied.
How does the first home concession work?
It is a deduction, not a separate rate. Work the duty out at the home concession rates, then subtract the amount set for your price band 4. At or below $700,000 or less5 the deduction covers the whole assessment, which is why the answer is zero.
| Dutiable value | Amount deducted |
|---|---|
| Under $710,000 | $17,350 |
| $710,000 to just under $720,000 | $15,615 |
| $720,000 to just under $730,000 | $13,880 |
| $730,000 to just under $740,000 | $12,145 |
| $740,000 to just under $750,000 | $10,410 |
| $750,000 to just under $760,000 | $8,675 |
| $760,000 to just under $770,000 | $6,940 |
| $770,000 to just under $780,000 | $5,205 |
| $780,000 to just under $790,000 | $3,470 |
| $790,000 to just under $800,000 | $1,735 |
| $800,000 or more | Nil |
The deduction falls by $1,735 for every $10,000 of price, so each band costs you about 17 cents in concession for every extra dollar of price. The concession runs out entirely at under $800,0006.
What if the home is brand new?
Different scheme, much better terms. Since 1 May 2025 a first home buyer of a brand-new home, or of vacant land to build one on, can get a concession that reduces the duty to nil, with no duty, no value cap7. A first home buyer choosing between an established house at $850,000 and a new one at the same price is comparing a duty bill against nothing.
What do you have to do to keep it?
Move in within 1 year of settlement8. QRO can reassess the duty if you do not, and you are expected to tell them rather than wait to be asked. From from 1 August 20269, the home and first home concessions also require an Australian citizen, permanent resident or specified foreign retiree.
What do foreign buyers pay?
An extra layer: 8%10 of additional duty on residential land acquired by foreign persons, on top of the ordinary assessment. If any buyer on the contract is a foreign person, get advice before signing rather than after.