·         In Queensland both the purchaser and seller can be liable to pay stamp duty although it is more usual for the purchaser to pay.

·         Generally the amount of duty will be calculated by reference to the property’s market value or the amount of consideration paid (including GST) depending on which is greater. 

·         The stamp duty must be paid within 30 days of the liability to pay duty arising. As with Victoria and NSW the liability arises on the date the property is sold or transferred.

·         There are a range of stamp duty concessions available for first home buyers purchasing a first home or vacant land intended to be used as a site for a first home. The concessions and exemptions apply as follows:

o   For residential homes there is no stamp duty payable on purchases up to $505,000. There is a part concession available for property valued between $505,000 and $550,000.

o   For vacant land there is no stamp duty payable on purchases up to $250,000. There is a concessional rate of stamp duty payable on vacant land valued between $250,000 and $400,000.

·         Queensland does not offer any concessions for pensioners on duties arising.

·         Further information can be found at https://www.osr.qld.gov.au.