Transfer duty — still universally called stamp duty — is usually the single biggest transaction cost in a Queensland property purchase, often dwarfing every other fee combined. Here's how it works in plain English.
Who pays, and when
The buyer pays transfer duty, not the seller. It's assessed on the contract and must be paid before the transfer can be registered — in practice your conveyancer arranges payment as part of the settlement process, and you'll need the funds available on top of your deposit and purchase price.
How the amount is calculated
Duty is calculated on a sliding scale: the higher the purchase price, the higher the rate applied to each band of value. On a typical Brisbane house it commonly runs to tens of thousands of dollars at the standard rate — which is why the concessions matter so much.
The home concession
If you're buying a home you'll actually live in (rather than an investment), Queensland applies a concessional rate that can cut the bill substantially compared with the investor rate. There are occupancy requirements — move in within a set period and live there for a minimum time — and breaching them can claw the concession back.
First home buyer concessions
First home buyers get further relief again, potentially paying no duty at all below certain price thresholds, with the concession phasing out above them. The thresholds and rules have changed several times in recent years — check the Queensland Revenue Office's current figures before you budget, because outdated numbers circulate constantly online.
What sellers should know
Even though sellers don't pay duty, it shapes your buyer pool: price points just under a concession threshold attract noticeably more first-home-buyer demand. If your property sits near one, that's worth knowing when you set your price guide.