Real Estate Market & Stamp Duty Updates
When you buy a property in Australia you have to pay stamp duty. Stamp duty is a tax applied by the state government. The amount of duty you pay is determined by the individual states and the value of the propery you purchase. Working out what you have to pay can often be confusing due to the different approaches between each state. However your legal representative or financial adviser should be able to assist you with determining the amount. You also can use online stamp duty calculator . Stamp duty is payable at settlement. Some people take into account the stamp duty requirement when applying for their home loan. This enables the stamp duty costs to be deducted from the home loan amount at the time of settlement. Alternatively you can also choose to pay your stamp duty from your own personal savings instead providing a check at settlement. If you are first home buyer or have purchased a home within a certain threshold you may not have to pay stamp duty or maight be eligible for stamp duty concessions. There are different government rebates in all the states and all have varying criteria. For information on what rebate you might eligible for the following sites will be in assistance for.
This website is built to provide updates on real estate and stamp duty in Australia. Check our blog for most recent updates.