Enter your contract date and state to calculate the exact date and time your statutory cooling-off period expires, with public holidays excluded from the business-day count for all eight Australian states. The calculator also shows an estimate of the rescission penalty that may apply if you chose to withdraw within the cooling-off window, based on statutory rates. Your contract may vary - confirm with your conveyancer.

What is a cooling-off period?

A short window after signing a residential property contract when you can pull out, usually for a small statutory penalty. It is set by each state's legislation and applies only to private-treaty purchases - it does not apply to contracts signed at auction. Each state has its own length (between 2 and 5 business days) and its own penalty formula.

Does cooling-off apply if I bought at auction?

No. A contract signed at an auction has no statutory cooling-off in any Australian state or territory. In NSW and QLD the exemption extends to same-day private negotiation after a passed-in auction. In Victoria the exemption extends to 3 clear business days either side of a publicly advertised auction. If you want to keep cooling-off rights, you may want to negotiate before the auction is publicly advertised or wait until the listing moves to private treaty.

What counts as a 'clear business day'?

A day that is not a Saturday, Sunday or public holiday in the state where the property is being purchased. The signing day itself counts as day zero - the cooling-off period starts counting on the next business day. Public holidays vary by state, so the calculator above uses the official state holiday lists for the years on either side of the signing date.

What's the penalty for using the cooling-off period?

It varies by state. NSW, QLD and ACT charge 0.25% of the purchase price. Victoria charges $100 or 0.2% of the price, whichever is greater. SA charges a flat $100 deposit forfeiture. WA, TAS and NT have no statutory cooling-off, so there is no statutory penalty - any rescission has to go through a contract special condition or the deposit is at risk. The PenaltyCard above shows the estimate for your state.

What about off-the-plan contracts?

Some states extend cooling-off rights for off-the-plan contracts, but the rules vary widely (NSW has a 10-business-day cooling-off under the Conveyancing Act, Victoria's regime is different again). The current calculator uses the standard private-treaty rules. If you are buying off the plan, ask your conveyancer to confirm the specific period your contract carries.

Why do WA, TAS and NT have no cooling-off?

Western Australia, Tasmania and the Northern Territory chose not to legislate a statutory cooling-off period for residential property. Buyers in those jurisdictions rely on contract special conditions (subject-to-finance, subject-to-building-and-pest, subject-to-sale) for the same protection. Always ask your conveyancer or solicitor to walk through which special conditions are written into your specific contract and how long each one is open for.

Can my contract override the statutory cooling-off?

In most states, the buyer can waive the cooling-off period by giving the seller a certificate from an independent solicitor (a Section 66W in NSW, a Section 17 in the ACT, an independent legal certificate in QLD). The waiver is legally binding once signed, so do not sign one without taking advice. Conversely, the contract can extend the period or layer on additional conditions, so read your contract carefully for any non-standard wording.

Is this legal advice?

No. This calculator is general information based on the public statutory cooling-off rules in each state. It is not legal advice, conveyancing advice or personal financial advice. The official date by which you must lodge a rescission notice is the date in your specific contract and the official rule in your state's statute. Confirm both with a licensed conveyancer or solicitor before acting. See the disclaimer for the full statement.