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Stamp duty is a territory government tax applied to the purchase or title transfer of land and property in the Northern Territory (NT). Stamp duty is always paid by the buyer or the party receiving the property, not the seller.
Stamp duty in the Northern Territory is calculated as a flat percentage of a property’s dutiable value (the greater of the purchase price or market value). Here’s the formula provided by the Northern Territory government to help estimate stamp duty on properties with a dutiable value under $525,000:
For example, if you were to purchase a property valued at $500,000, the amount of stamp duty you would pay is:
Based on this formula, the stamp duty for a $500,000 property will be $23,928.60.
Stamp duty costs in the NT will vary depending on:
|Property value||Standard stamp duty payable|
$0 - $525,000
(0.06571441 x V2) + 15V (where V is 1/1,000 of the property’s dutiable value)
4.95% of the dutiable value
5.75% of the dutiable value
5.95% of the dutiable value
|Property price||Owner-occupier stamp duty||Investment stamp duty|
Anyone buying property in the NT or acquiring real estate under a company or trust must pay stamp duty, unless an exemption applies. This also includes properties gifted. It’s important to note that stamp duty is an additional cost to your deposit, property price and legal costs.
If you’re employing the services of a conveyancer, they may take care of the paperwork and lodge the payment with the revenue office on your behalf. Be sure to budget for stamp duty or ask your lender to increase the principal amount of your home loan to account for stamp duty. This will increase your home loan repayments.
In the NT, stamp duty is payable within 60 days of settlement. Extensions apply to eligible conditional agreements.
Stamp duty can be paid by direct deposit, cheque, credit card, and other major payment options. In most cases, you’ll receive a notice from the Territory Revenue Office (TRO) delivered to the address of the purchased property or by email. This letter will often contain:
There are no first-home buyer stamp duty exemptions or concessions in the Northern Territory. The only stamp duty exemption available to property buyers is the:
House and Land Package Exemption (HLPE): Exemptions may apply for house and land packages purchased before 30 June 2027 if the building contractor fulfils one of the following conditions:
There’s also a $10,000 first-home buyer grant in the NT that may help further reduce the cost of buying a home.