Foreign citizens holding a visa must supply visa details.Ĭompanies and corporate trustees must provide an ABN. Individuals (including individuals as trustees) must provide details from two different identification documents: primary and secondary. All identification must be valid and current.
#CONVEYANCE OF PROPERTY VERIFICATION#
Proof of identityĪccess Canberra requires you provide proof of your identity through a Buyer Verification Declaration before you lodge the transfer. If we need to see your supporting documents, we’ll contact you after the transaction is finished. Once you determine your eligibility you can claim it on the forms you lodge at Access Canberra. Under certain circumstances, you may also be eligible to defer your duty payment or be eligible for an exemption. If you’re buying a home, land or both, you may be eligible for a stamp duty concession through one of the following: Keep in mind that this tool should serve as a guide only. Use our calculator below to get an estimate of the duty you will pay.
The transaction date is the date of the grant, transfer or agreement for transfer – whichever comes first. This also includes land under the land rent scheme.ĭuty rates and thresholds depend on the date of your transaction. If you buy land under one contract and arrange to build a house on the land under a separate contract, you pay duty on the land contract only. Examples include house-and-land packages and off-the-plan property purchases. If you buy a block of land that doesn’t have a house on it, but the seller is building one on the land before you settle as part of your contract, you still pay duty on the combined value of the house and the land.This includes a home purchased under the land rent scheme. If you buy a property that already has a building on it, you pay duty on the combined value of the house and the land.The amount of duty you pay depends on the property’s purchase price or market value (being the greater of). Where the value is greater than $1,700,000 a flat rate of five per cent will apply. While duty on owner-occupier purchases up to $260,000 will be at the lower rate of 0.60%.įrom 1 July 2022, commercial properties with a dutiable value of $1,700,000 or less will pay no conveyance duty.
On or after 1 July 2022, duty on any owner-occupier purchase above $260,000 up to $1,455,000 will reduce by $1,120 compared to 2021-22.
Since 1 July 2021, eligible owner-occupiers of residential properties have paid a reduced rate of conveyance duty. The Government is continuing to reduce conveyance duty rates for residential properties. Conveyance duty, commonly known as stamp duty, is a tax you pay when you buy property in the ACT, whether it’s a home, land, or a commercial property.
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