Ok, must be an easy question for some, so how do you calcuate stamp duty for house & land or off the plan (OTP) properties? Let's say on a 500k purchase price.
Which state?
All (?) states will calculate stamp duty for a house and land purchase on the land price.
OTP purchases are different as most states will calculate stamp duty on the price of the finished product. Victoria is different as they tend to use a land value at the time the contract was signed.
I see so except for vic all all other states uses full purchase price as the figure to calculate stamp duty on OTP regardless of current valuation?
You would need to check the various state government websites but in essence that is correct.
Not 100% sure on SA and ACT.
Ok thanks i’ll google some online stamp duty calculator and have a go at them.
Derek wrote:Not 100% sure on SA and ACT.For OTP in ACT it's based on the purchase price. For house and land, it's only the land that attracts duty. I could go into detail about the other states but a quick google search will return answers.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Thanks for the input guys, cheers.
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