The short answer. For a $700k investment property, stamp duty ranges from about $20,000 (ACT) to about $37,000 (VIC), re-verified against each revenue office in September 2026. Investor purchasers do NOT get first-home concessions. Foreign buyers pay surcharges of 7% to 9% on top, depending on the state. Vacant land and off-the-plan have separate schedules in some states.
Summary: stamp duty on a $700k investment purchase
| State | Stamp duty | +Foreign surcharge | Total foreign buyer |
|---|---|---|---|
| VIC | $37,070 | $56,000 (8%) | $93,070 |
| NSW | $25,687 | $63,000 (9%) | $88,687 |
| QLD | $24,525 | $56,000 (8%) | $80,525 |
| SA | $32,330 | $49,000 (7%) | $81,330 |
| WA | $27,265 | $49,000 (7%) | $76,265 |
| TAS | $26,748 | $56,000 (8%) | $82,748 |
| ACT | $20,040 | N/A (no surcharge) | $20,040 |
| NT | $34,650 | N/A (no surcharge) | $34,650 |
The delta between the cheapest and most expensive state is roughly $17,000. In this example, five purchases at $17,000 extra duty each add $85,000 to acquisition costs. Not insignificant.
State by state, with worked examples
VIC Victoria
Highest stamp duty in Australia for typical investor price bands. Formula is progressive with 5 brackets. No investor concessions. Foreign purchaser additional duty: 8%.
$2,870 + 6% of amount above $130,000
$700,000 investment property, VIC
VIC note: Additional Vacant Residential Land Tax applies annually if the property is vacant more than 6 months in a calendar year. Not stamp duty, but relevant to holding cost planning.
NSW New South Wales
Phased brackets. Investors always pay full duty. First-time investors do NOT qualify for the First Home Buyer scheme. Foreign purchaser surcharge: 9% additional.
$9,987 + 4.5% of amount above $350,000
$700,000 investment property, NSW
QLD Queensland
At $700,000 the modelled QLD duty is $24,525. Progressive brackets, transparent formula. Additional Foreign Acquirer Duty: 8% (from 1 July 2024, up from 7%).
$17,325 + 4.75% of amount above $540,000
$700,000 investment property, QLD
Figures for a $700,000 investment purchase, re-verified against each revenue office on 18 September 2026. NSW duty is indexed every 1 July. Confirm the current figure with your conveyancer.
SA South Australia
Progressive brackets. No PPOR concession applies to investors. No foreign surcharge historically applied, however 7% Foreign Purchaser Surcharge introduced 2022.
$21,330 + 5.5% of amount above $500,000
$700,000 investment property, SA
Note: SA stamp duty compares more favourably at lower price bands (under $500k).
WA Western Australia
General rate applies to investment. First home concession available only for PPOR under $530k. Foreign Buyer Duty Surcharge: 7% additional on residential land.
$11,115 + 4.75% of amount above $360,000
$700,000 investment property, WA
TAS Tasmania
Progressive. Foreign Investor Duty Surcharge: 8% additional. No investor-specific concessions.
variable, progressive
$700,000 investment property, TAS
Note: TAS schedule uses fine-grain brackets, not a single formula. Use the SRO TAS calculator or your solicitor's estimate for exact.
ACT Australian Capital Territory
ACT is transitioning stamp duty to land tax over 20 years. Rates fall each year. No foreign purchaser surcharge (as of 2026). Formula changes annually.
$700,000 investment property, ACT
NT Northern Territory
Higher-than-average schedule for the price band. No foreign surcharge. Territory Home Owner Discount available only for PPOR.
variable with heavy loading at $525k+
$700,000 investment property, NT
Foreign purchaser surcharges
Every mainland state (and TAS) charges a significant additional surcharge on residential purchases by foreign buyers. Rates in 2026:
- NSW, VIC, QLD, TAS: 8% surcharge
- SA, WA: 7% surcharge
- ACT, NT: No surcharge
A "foreign purchaser" generally means anyone who is not an Australian citizen, permanent resident, or (in some cases) certain NZ citizens. Purchases via foreign-controlled companies or trusts also trigger surcharges. Structure matters, get advice from a specialist tax lawyer before structuring foreign-buyer transactions.
Are stamp duty reforms coming?
Stamp duty is universally acknowledged as an inefficient tax. Economists have argued for replacement with broad-based land tax for two decades. Progress has been limited:
- ACT: 20-year transition underway (~50% through)
- NSW: First Home Buyer Choice pilot (opt-in for eligible buyers, not investors)
- VIC: Commercial and Industrial Property Tax (CIPT) reform in progress for commercial only
- Others: Occasional discussion, no material reform
For 2026-2030 planning, stamp duty is a real number to budget for. No investor should expect it to disappear from acquisition costs during their next portfolio move.
How stamp duty flows through the tracker
StratMap has state-specific stamp duty formulas baked into the acquisition cost calculation. Add a property, select state, purchase price. The tracker calculates:
- Transfer duty per state formula
- Mortgage duty where applicable (NSW)
- Foreign surcharge if flagged
- Total acquisition costs including conveyancing, inspections, loan establishment
- Impact on total cash-in and effective LVR
Duty is a real cost. On a $700k property in VIC, it eats 5.3% of the purchase value. Preserved as a line item, not buried in a "closing costs" bucket.
The choice of state matters. $17k in duty difference on the same property could fund a pest inspection, a conveyancing bill, and a first-year buffer. Or half a granny flat deposit. The tracker can show acquisition costs under each state for comparison.
The compliance frame. Stamp duty rates and formulas change annually via state budget announcements. Numbers in this article are current as at July 2026. Confirm against the current State Revenue Office calculator for your intended purchase before contracting. This article is educational, not tax or legal advice.