A one-off state-government tax on the transfer of property ownership. Calculated as a percentage of the property’s value at the time of transfer.
Set independently by each state Treasury - not modelled by the federal Budget reforms. Rates range from ~3-5% of property value depending on state and price band. Triggered on acquisition AND on any restructure that involves a transfer (e.g. moving a property from personal ownership into a trust or SMSF).