How a price becomes a fee
The fee is based on the consideration for the purchase, meaning what you pay, in Australian dollars. Treasury's key concepts guidance says consideration includes any GST. It also says the value in the contract is generally the figure used when the parties are dealing at arm's length.
For residential land with no established dwellings (new homes, off-the-plan apartments and vacant land), the fee goes up in steps of $1 million:
- Under $75,000: $4,600.
- $75,000 up to $1 million: $15,600.
- Over $1 million: round the price up to the next whole million, take away one, and multiply by $31,300.
Treasury states the same rule differently. If the price is an exact number of millions, the fee is that number minus one, times $31,300. If it is not, the fee is the whole-number part of the price in millions, times $31,300. Both methods give the same answer.
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Worked examples
All six rows below use the new dwelling or vacant land scale for applications received from 1 July 2026 to 30 June 2027. The last column is calculated for this guide and rounded to one decimal place.
| Purchase price (including GST) | Working | Fee | Fee as a share of price |
|---|---|---|---|
| $620,000 | $1 million or less | $15,600 | 2.5% |
| $1,000,000 | $1 million or less | $15,600 | 1.6% |
| $1,000,001 | Round up to $2m, minus 1 = 1, x $31,300 | $31,300 | 3.1% |
| $1,450,000 | Round up to $2m, minus 1 = 1, x $31,300 | $31,300 | 2.2% |
| $2,350,000 | Round up to $3m, minus 1 = 2, x $31,300 | $62,600 | 2.7% |
| $4,200,000 | Round up to $5m, minus 1 = 4, x $31,300 | $125,200 | 3.0% |
Each result matches the bands in Treasury's schedule ($2 million or less is $31,300, $3 million or less is $62,600, $5 million or less is $125,200). Treasury's own guidance gives a $2 million purchase of residential land with no established dwellings as costing $31,300.
The fee jumps at each whole million, not smoothly. A price of $1,000,000 costs $15,600 and a price of $1,000,001 costs $31,300, a difference of $15,700 for one extra dollar.
What counts towards the price
Because consideration includes GST, a contract that states a price and then adds GST on top is measured on the total. Treasury also gives examples of what can be a reasonable assessment of consideration when no contract exists yet: the price publicly advertised by the vendor for land, or the advertised price for a house and land package. The detail for each type of purchase is in the guide to new dwellings, off-the-plan and vacant land.
Fees are indexed to the Consumer Price Index each 1 July, and the new fees apply to applications received on or after the first day of the financial year. Last year's equivalent fee (2025-26) was $15,100 for a new home of $1 million or less, according to Treasury's 2025 guidance note.
Buying with someone else
Treasury treats shared purchases in two ways:
- Joint tenants: one fee is payable for the purchase, and each joint tenant is liable for the full amount until it is paid. Treasury's example is a $2 million purchase by two joint tenants with a $31,300 fee. After one pays $20,000, both remain liable for the other $11,300.
- Tenants in common: the fee is proportional to your share of the interest. Treasury's example is an 80/20 split of a $15,600 fee, giving $12,480 and $3,120. As a further illustration, on a $1.8 million new apartment bought 50/50 by two foreign persons, the total fee is $31,300 (the $2 million or less band), so each pays 50% of that, which is $15,650.
If one buyer is an Australian citizen or permanent resident, see buying with a citizen or resident partner.
Established homes cost three times as much
For comparison, a purchase of an established dwelling is charged at three times the standard amount: $46,800 for $1 million or less and $93,900 for $2 million or less. Treasury's guidance says foreign persons are generally banned from buying established dwellings from 1 April 2025 to 30 June 2029, apart from limited exceptions. See the fees page for the full table.
Fees that follow the first fee
The application fee is not the last fee linked to it. If a home is empty, the annual vacancy fee is double the application fee. For a $15,600 application fee that is $31,200 in each year the fee applies. The vacancy fee guide explains the 183-day test.
Keep reading
Frequently asked questions
How much is the FIRB fee for a $1.5 million new apartment?
$31,300 in 2026-27. A price over $1 million and up to $2 million falls in the $2 million band of Treasury's schedule. If the apartment is covered by a developer's exemption certificate, the buyer generally does not lodge their own application, and the developer pays fees instead.
Is the FIRB fee a percentage of the price?
No. It is a flat amount for each $1 million band, so the share of the price varies. The examples above run from 1.6% at $1 million to 3.1% at $1,000,001. Treat the percentage as a by-product of the bands, not a rule.
Do I pay the fee again if I buy a second property?
Treasury's guidance says a fee is payable for each application made. A second purchase that needs its own application therefore has its own fee, worked out from that purchase price on the same bands. If a single application covers more than one purchase, Treasury has separate rules, so ask the ATO.
Which year's fee applies if I lodge in June and the decision comes in July?
Treasury says new fees apply to applications received on or after the first day of the financial year. The fee follows the date the application is received, not the decision date. Check the ATO's current fee page when you lodge.
Sources
- Schedule of Fees, version 8 (1 July 2026), Treasury
- Guidance Note 10: Fees, version 12 (19 September 2026), Treasury
- Guidance Note 2: Key concepts, version 5 (12 December 2025), Treasury
- Residential fees for a foreign person, Australian Taxation Office
- Guidance Note 10: Fees, version 8 (1 July 2025), Treasury
- Guidance Note 6: Residential land, version 5 (1 July 2026), Treasury
Checked 5 October 2026.
firbapproval.com.au is an independent guide. It is not affiliated with, endorsed by or connected to the Foreign Investment Review Board, the Australian Treasury or the Australian Taxation Office. We do not lodge or process applications. Applications are made to the ATO. General information only, not legal, tax, migration or financial advice.