New Stamp Duty System: (as per Budget 2008)
These new stamp duty rates are now effective.

Stamp Duty Rates on New Homes:

First-time Buyers:
There is no stamp duty for first-time buyers on any new homes so long as it is your main residence and you are not purchasing the property to rent it out as an investor.

Other Buyers:
For all other owner-occupiers* the stamp duty rate on new homes depends on the floor area of the property. There is no stamp duty on new homes for owner-occupiers if the floor area is less than 125 sq metres. If the floor area is greater than 125 sq metres, then stamp duty is payable at the following rates:

*An owner-occupier is a buyer who is buying the property to live in as their sole residence.
Stamp Duty Rates on Second-Hand Homes

First-time Buyers:
There is no stamp duty for first-time buyers of second-hand homes.

Owner Occupiers/Investors:
The following stamp duty rates apply to Owner-occupiers/Investors of second-hand homes:

Stamp Duty Rates on Non-Residential Property:

It is important to note here that there is no reduction in stamp duty rate on the purchase of land or sites. The same rates apply to all buyer types.