What is stamp duty?
Stamp duty is essentially a tax charged by the state governments in Australia. The most common stamp duty is paid by the purchasor of real estate. Stamp duty in Australia is usually a large sum of money, and can negatively impact upon the affordability of property. Many people like to use a stamp duty calculator so that they can estimate how much stamp duty they will have to pay when purchasing a property.
How much will I pay?
Stamp duty in each state of australia is calculated at a different rate, and will vary dependent on the purchase price of the property you buy. Given so many variables, it’s a good idea to use a stamp duty calculator when you are researching properties so that you will have a good idea of how much stamp duty you will have to pay. Stamp duty in NSW is different to stamp duty in VIC and stamp duty in QLD. Check out the stamp duty you will need to pay by using a stamp duty calculator
Examples of Stamp Duty Calculations
The stamp duty you will pay can vary by thousands of dollars around the states of Australia on the same property price, consider the example below, following are the stamp duty rates in each state of Australia on a property purchased for $350,000:
$9,800 (Northern Territory/NT)
$10,735 (Western Australia/WA)
$11,240 (New South Wales/NSW)
$11,550 (Tasmania, TAS)
$13,830 (South Australia/SA)
For a more realistic purchase of around $700,000, stamp
duty will be between $24,525 (Queensland) and $37,070 (Victoria).