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Stamp Duty Calculator

Calculate how much task you need to pay on your property purchase with our easy to use Stamp Duty calculator. Find out how much it will cost you and what factors will affect the final tax. Factors that affect your cost include the state where the property is located, the value, and the type of property you want to buy.

Additional factors include your buying experience. Are you a first time buyer? Is the property a refinance? Will you be turning the property into a primary residence, a rental, or retreat?

Using our easy to use calculator, you’ll be able to compute your stamp duty with no hassle. Just enter your details below:

Calculation Details Breakdown

Not sure if you’re adding in the correct details? Let’s break down the information needed by our calculator. Note: Our calculator adjusts the necessary details based on the state where the property is located. Below are the basic information that’s required per state:

  • Type of buyer – the first field we’ll ask you to answer is whether this is your first purchase or not. It’s a simple “yes” or “no” question.
  • Value of property – second common field is the property value. If you’re unsure of the property cost, you can put in an estimate.
  • Property Type – this field will ask if you are buying the property as your primary residence or as an investment.
  • Building Type – the last common field determines the state of the property you are planning to purchase. Is it an “established home”, a “new home”, or a “vacant land”

 

Understanding Stamp Duty

What is a Stamp Duty?

Stamp duty is a tax you pay when you purchase a property anywhere in Australia and its territories. Another term for it is “land transfer duty”. Now, stamp duty will vary by state. Each state has additional questions or details which you need to fill out.

Why Do We Need To Pay Stamp Duty?

The Australian Government imposes a tax on all properties sold within the country. In order to process all necessary documents and make the whole process legal you’ll need to pay the tax due.

Failure to pay the set stamp duty will result in penalties and charges. These late payment penalties are usually calculated by percentage. The government will determine how much you need to pay based on the unpaid tax.

How is Stamp Duty Calculated?

It is calculated based on the price paid on purchase and type of property sold. The more expensive a property is, the higher the stamp duty will be. There are discounts and deductions given by state based on the following criteria:

  • Whether you are purchasing the property as a residence or as an investment
  • Are you purchasing it as a first time buyer?

Disclaimer: Our stamp duty calculator does not include fees and charges. It only takes into account the property details. Any additional costs incurred such as hiring a real estate agent is not added into the computation.

The result of the computation is meant to be a guide. For more accurate calculation, please contact one of our mortgage brokers here at Excellence Finance. Our mortgage broker will be able to give you a more detailed analysis that takes into account all other additional costs. It will also consider your buying situation, loan options, and price changes due to the economy’s volatility.

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