Stamp duty in the Northern Territory: formula and discount

The rate

Schedule 1 of the Stamp Duty Act 1978 sets the duty on a conveyance of dutiable property by the dutiable value:

• up to $525,000: D = (0.06571441 × V²) + 15V, where D is the duty in dollars and V is 1/1,000 of the dutiable value in dollars;
• over $525,000 and under $3,000,000: 4.95% of the dutiable value;
• $3,000,000 or more but under $5,000,000: 5.75%;
• $5,000,000 or more: 5.95%.

The text consulted is the Act “as in force at 1 July 2025”. The rate schedule can be amended: confirm with the Territory Revenue Office that it is unchanged for your contract date.

The formula in practice: for a $400,000 property, V = 400, so D = 0.06571441 × 160,000 + 6,000 = $16,514.30. For a $525,000 property, V = 525, D = $25,987.53, which is almost exactly 4.95% of $525,000 ($25,987.50), so the rate scale has no step at the threshold. These are calculations from the formula, not quotes.

Lodgement deadline

A dutiable instrument must be lodged with the Commissioner for assessment within 60 days after it is first executed, or after it becomes legally effective if it takes effect without execution (Stamp Duty Act, section 9).

Territory home owner discount

For a conveyance first executed on or after 8 February 2019, a conveyee is entitled to the Territory home owner discount if the Commissioner is satisfied, on application, that:

• the conveyee is an individual aged 18 or over (the Commissioner can exempt a minor in some cases);
• the conveyee is an Australian citizen or permanent resident when giving the declaration;
• neither the conveyee nor their spouse had a relevant interest in residential property in the Territory within 24 months before the relevant time;
• the conveyee will acquire the whole beneficial interest, not as a trustee;
• the conveyee will occupy a home on the land as their principal place of residence for the prescribed period (a continuous period of 6 months, unless the Commissioner approves a shorter one), starting within the period for occupancy; and
• the conveyee becomes entitled to possession within 12 months after settlement, or a longer period the Commissioner approves.

The discount is the lesser of the duty assessed and $18,601, and it applies only if the dutiable value does not exceed the threshold amount: an amount prescribed by regulation or, if none is prescribed, $650,000. The regulations were not consulted for this guide, so ask the Territory Revenue Office whether a different threshold is prescribed. A conveyee who will not or does not occupy the home as required must notify the Commissioner in writing within 30 days after it becomes apparent. The Commissioner may reassess duty if the conditions are not met.

For example, on a $600,000 home the duty is $29,700 (4.95%). If the discount applies, the payable duty is $29,700 − $18,601 = $11,099 (calculation, assuming the $650,000 threshold applies).

New home grant

The First Home Owner Grant Act 2000 (as in force at 1 July 2026) sets the grant at $50,000 where the commencement date of the transaction is on or after 1 October 2025 and before 1 October 2027, and $10,000 from 1 October 2027. Since 1 October 2025, only a new home qualifies for a purchase contract. Applicants must live in the home for at least 12 continuous months (for transactions from 1 October 2024 to before 1 October 2027), starting within 12 months of completion. See first home owner grants compared.

Foreign buyers

The text of the Stamp Duty Act 1978 (version of 1 July 2025) contains no foreign-purchaser surcharge on residential property: a text search for the word “foreign” finds only a reference to foreign companies. Foreign persons must still apply for federal approval before buying residential real estate. See foreign purchaser surcharge duty.

Which professional to consult

A conveyancer or solicitor lodges the instrument, applies for the discount and checks the threshold for your date: see conveyancers. A mortgage broker can include duty in your funding plan: see mortgage brokers.