Ray White Mountain Creek Buyers Guide 2018 2018 | Page 20

04
Buying
What
is
What is stamp
stamp
or duty?
or transfer
transfer
duty?
Stamp duty is a tax imposed on numerous acquisitions,
House
$100,000
First
home
owners Price to
live in An
investment
NIL $1,000 $1,925
$150,000 NIL $1,500 $3,675
$200,000 NIL $2,000 $5,425
$250,000 NIL $2,500 $7,175
$300.000 NIL $3,000 $8,925
$350.000 NIL $3,500 $10,675
$400.000 NIL $5,250 $12,425
NIL
$7,000
including selling real estate, cars $450.000
and assets belonging
$500,000
NIL
$8,750
to a business.
$550,000
$10,600
$10,600
In the case
of real is estate
purchaser is the one who pays the tax. It is a legal
Stamp
duty
a tax the imposed
$600,000
$12,850
$12,850
requirement
for
stamp
duty
to
be paid within 30 days of the settlement date. All
on numerous acquisitions,
$650,000
$15,100
$15,100
transfers of land, or sales of property, including gifts of property attract a duty,
but
including
selling real estate,
$700,000
$17,350
$17,350
there are a few exceptions to this, including:
cars and assets belonging to
$750,000
$19,600
$19,600
a business.
$800,000
$21,850
$21,850
Pensioners
Young farmers
In the case of real estate the purchaser
Deceased estates
is the one who pays the tax. It is a legal $850,000
requirement
for buyers
stamp duty to be paid
First home
within 30 days of the settlement date.
Family farms
All transfers
of land, or sales of property,
$14,175
$15,925
$17,775
$20,025
$22,275
$24,525
$26,775
$29,025
$24,100 $24,100 $950,000 $28,600 $28,600 $35,775
$1,000,000 $30,850 $30,850 $38,025
$1,500,000 $59,600 $59,600 $66,775
Principle place
of residence
$26,350
$26,350
$900,000
Off-the-plan sales
$31,275
$33,525
$2,000,000
$88,350
$88,350
$95,525
including
property
attract
duty,
As stamp gifts
duty of
isn’t
a tax levied
by a the
federal Government, the amount of stamp duty
$2,500,000
$117,100
$117,100
$124,275
but
are a from
few state
exceptions
to It’s
this. worth researching the rate for your home state.
paid there
changes
to state.
20
$3,000,000 $145,850 $145,850 $153,025
$5,000,000 $260,850 $260,850 $268,025