Stamp Duty Calculator - NT

What Is Stamp Duty?

Stamp duty, also known as transfer duty, is a one-off government fee paid by the purchaser of a property in the NT.

You will need to pay stamp duty when you acquire:

• A home
• Land
• Business property

Stamp duty is calculated on the purchase price or the market value of the property, whichever is higher.

So the higher the property value, the more expensive the stamp duty will be.

How To Calculate Stamp Duty In The NT?

The stamp duty (transfer) calculation in the Northern Territory is very different from all the other states.

In NT, where the property value doesn’t exceed $525,000, it is calculated using a complex formula as follows:

D = (0.06571441 x V² ) + 15V

Where, D = the duty payable in $;

V = 1/1000 of the property’s dutiable value

For example, if you were buying a property valued at $400,000 in the NT, the amount of stamp duty payable is:

= $(0.06571441 x $400,000/1000 ²) + 15 x $400,000/1,000

= $10,514.30 + 6,000

= $16,514.30

Alternatively, you can enter your details on our calculator above to get the same result.

The stamp duty rate for property transfer in the Northern Territory are as follows:

Source: NT State Revenue Office

For property valued above $525,000, a flat percentage of the property value is applied as stamp duty, i.e. when purchasing a $600,000 property in Darwin NT, a flat percentage of 4.95% is applied to the property value, so the stamp duty payable is $29,700.

What Other Fees Are There With Stamp Duty In The NT?

In addition to the stamp duty, there is the:

• Mortgage registration fee of $156.00 from 1 July 2022. It is a flat fee charged for registering the mortgage on the property title.
• Land transfer fee of $156.00

You may be able to add the cost of stamp duty to your home loan.

Give us a call on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.

Ceased NT Government Schemes On Stamp Duty

The following NT government schemes no longer apply:

• The Principal Place of Residence Rebate (PPRR) ceased on 8 February 2019
• The First Home Owner Discount ceased on 6 May 2019
• Territory Home Owner Discount (THOD) ceased on 1 July 2021
• Senior, Pensioner and Carer Concessions (SPCC) ceased on 1 July 2021

How Much Is The First Home Owners Grant In The NT?

The Northern Territory has a range of building grants including the First Home Owners Grant (FHOG).

They include:

• First Home Owners Grant: A one-off First Home Owners Grant of $10,000 for eligible first home buyers building or buying a new home. The grant amount was reduced from $26,000 to $10,000 from 7 May 2019.
• Home Renovation Grant: First home buyers who purchase an established property are eligible to get a $10,000 grant to renovate or improve the property.
• Household Goods Grant: First home buyers who purchase a new property are eligible to get a $2,000 grant to buy household goods.
• Build Bonus Grant: Closed on 14 April 2021.

First home buyers in the NT may also be eligible to apply for the First Home Loan Deposit Scheme potentially saving them tens of thousands in Lenders Mortgage Insurance fees.

How Much Is Stamp Duty On An Off-The-Plan Purchase In The NT?

For off-the-plan properties in the NT, stamp duty is calculated on the value of the property at the date of the contract, not the value on completion of construction.

There may be stamp duty benefits as the value of the property may increase by the time construction is completed, which can often be as long as two years away.

As mortgage brokers, we generally only recommend buying off-the-plan properties if you have a big deposit (more than 20%) and are in a strong financial position.

Because if your financial situation changes while the development is under construction, you risk your loan being declined, defaulting on the building contract and possibly losing your deposit.

How Much Is Stamp Duty For A Foreign Purchaser In The NT?

At this point in time, there is no stamp duty surcharge for foreign property buyers in the Northern Territory (NT).

Are You Ready To Apply For A Home Loan?

Our award-winning mortgage brokers can assess your situation and work out if you have a large enough deposit to buy a home.

They can also clarify any questions you may have about the cost of stamp duty, transfer fees or first home owners grants.

Speak to one of our specialist mortgage brokers by calling us on 1300 889 743 or fill in our online assessment form to find out if you’re ready to buy.