The Government welcomed the passage of the Stamp Duty (Amendment) Bill 2025 by the Legislative Council today, which implements the adjustment of the maximum value of properties chargeable to the $100 stamp duty from $3 million to $4 million.

Proposed in the 2025-26 Budget, the adjustment aims to ease the burden on buyers of properties at lower values.

Based on the 2024-25 property transaction data, the Government said it estimates that the measure will benefit about 15% of property transactions, with government revenue reduced by about $400 million annually.

The legislation as passed will be published in the Government Gazette on May 16.

The relevant adjustment, which took effect at 11am on February 26 this year under the Public Revenue Protection (Stamp Duty) Order 2025 gazetted on the same day, applies to instruments executed on or after February 26, 2025.