Transfer (stamp) duty + premium band
Standard duty climbs through marginal brackets up to ~$1.4m, then a premium rate applies on the slice above approximately $3.505 million for 2025-26 (indexed annually). The premium band is why >$5m Sydney house transactions hit duty bills well into seven figures.
First Home Buyer Assistance Scheme (FHBAS) gives full exemption to $800k and a sliding concession to $1m. The First Home Buyer Choice property-tax opt-in was phased out for new entrants from 1 July 2023 — only buyers who opted in before that date remain on annual property tax.
Land tax — general + premium + surcharge
Land tax is assessed at midnight 31 December each year on the unimproved land value held by an owner (PPR exempt). NSW applies a general rate above the threshold and a premium rate above the premium threshold.
Foreign owners of residential land pay a 5% Surcharge Land Tax on top of general land tax. No PPR exemption for foreign owners on the surcharge.
Build-to-Rent (BTR) concession
Eligible BTR developments receive a 50% land-value reduction for land tax purposes for up to 20 years (subject to labour, affordability, and management criteria under Revenue NSW guidance).
Payroll tax + mental health levy
Annual threshold $1.2m, rate 5.45% on taxable wages above it. Once Australian-grouped wages exceed $1.5m, an extra 0.5% Mental Health and Wellbeing levy applies, rising to 1.0% above $10m. Group employers must aggregate Australia-wide.