When you create certain types of documents, such as title transfers from the sale of real estate or other personal property, you must pay a stamp duty. This tax on documents is determined by the states, not by the Australian government.
Either the borrowers or the purchasers pay stamp duties. The money goes towards areas such as public safety and education. However, these taxes can increase the cost when purchasing personal property, which is something you should keep in mind. If you are thinking about purchasing a new home, you must consider stamp duty into the total cost. Otherwise, you may end up paying more than you can afford.
This Stamp Duty Calculator will help you determine the final cost of your home, with the tax included. Follow these steps when using the Stamp Duty Calculator:
The calculator will then show you the total cost of the stamp duty, as well as revealing:
The Stamp Duty Calculator can save you time. This calculator helps you determine the amount you can spend on a home, with the stamp duty included.
Note: The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for a loan. It is advised that you consult your financial adviser before taking out a loan.
