Stamp duty (Stamp Duty / Land Transfer Duty) is no stranger to us, in the purchase of real estate will certainly involve this tax.
Stamp duty is a tax levied by all Australian states when dealing with real estate transactions.
The actual sales price of real estate, also known as the Land transfer tax, is used in the calculation.
Stamp duty is not a "one-size-fits-all" approach, but a threshold.
Although the calculation varies from state to state, it generally follows the policy that "the more expensive the house stamp duty will be, the higher the proportion of stamp duty will be."
Comparison of stamp duty by state.
With the continuous development of economic in many regions and the rising population, many buyers focus on non-state real estate.
For example, Tasmania and the Australian Capital region, which are increasingly affected by immigration policy, and Queensland, where economic is rising rapidly.
These are the areas that have attracted more attention in the past year or two, especially Tazhou, which has risen against the trend in the recession of the Australian housing market.
However, when considering where to buy a house, in addition to real estate itself, the level of stamp duty is also a very important factor.
Although the stamp duty payment rules in each state are relatively complex and different, in order to compare the amount of stamp duty paid by each state, we take the real estate of 600000 Australian dollars as an example to introduce the level of stamp duty in each state.
According to the policy and calculation method of each state, we calculate the amount and proportion of stamp duty of 600000 real estate in each state.
Of these, the Northern Territory pays the highest proportion of stamp duty, with 600000 of real estate subject to stamp duty of $35,700, accounting for about 5.96 percent of the purchase price of real estate.
Calculation of stamp duty in NT area Source: Which Real Easte Agent
This was followed by Victoria, which had to pay $31,070 for 600000 real estate, or about 5.2 per cent.
Calculation of stamp duty in VIC area Source: Which Real Easte Agent
Among them, Melbourne, the capital of Victoria, is one of the most popular cities in the real estate industry, and the proportion of stamp duty is significantly higher than that of Sydney, which is also a hot city.
Under New South Wales stamp duty rules, Sydney buyers are only required to pay $22,490 for 600000 real estate, which accounts for only 3.7 percent of real estate`s purchase price.
Calculation of stamp duty in NSW area Source: Which Real Easte Agent
Similar to the new state stamp duty ratio is Tasmania and Western Australia.
Tasmania is required to pay $22,497.5, or about 3.7 per cent
Calculation of stamp duty in TAS area Source: Which Real Easte Agent
Western Australia is required to pay $22,515, or 3.8%.
Calculation of stamp duty in WA area Source: Which Real Easte Agent
There is also a state where stamp duty is not low, South Australia.
Real estate, South Australia, also A $600000, is subject to stamp duty of $26,830, or about 4.5 percent.
SA region stamp duty calculation Source: Which Real Este Agent
However, the median real estate price in South Australia, Northern Territory and Tasmania is significantly lower than in other states.
600000 of real estate may be lower prices in Sydney and Melbourne, but they are already relatively high in these three states.
Source：Real Estate.com.au
Based on the prerequisite for the higher the house price, the higher the stamp duty ratio, the higher the 600000 real estate stamp duty in the Northern Territory and South Australia.
But at the same time, it also shows that the stamp duty ratio in Victoria is really high, and the stamp duty policy in Tazhou is very good (in fact, the average price of real estate is low, and the stamp duty ratio of most house will be less than that ratio).
The two regions with the lowest stamp duty rates are the Australian Capital Territory and Queensland.
The Australian Capital region of real estate, which is priced at A $600000, is subject to stamp duty of $16,660, accounting for about 2.8 per cent of the purchase price of real estate.
Calculation of stamp duty in ACT area Source: Which Real Easte Agent
QLD Queensland pays $200,25, or about 3.3%.
Calculation of stamp duty in QSL area Source: Which Real Easte Agent
It also suggests that both the capital and Kunzhou are well worth investing in real estate if stamp duty is considered only.
Time of payment of stamp duty
The stamp duty rate varies from state to state to time.
Pay attention to stamp duty when buying realates in non-local areas.
If the buyer fails to pay within the prescribed time, additional fines and interest will have to be paid proportionately.
Capital area
In the capital area to pay stamp duty process is more complex, divided into three stages.
In the first phase, the buyer is required to submit the written transfer document to the Canberra Municipal Service Centre (Access Canberra). Within 14 days after real estate delivery.
In the second phase, buyers need to wait for the Canberra Municipal Service Center to process written transfer documents and email notification of the buyer`s stamp duty assessment.
In the third phase, the buyer must pay stamp duty within 14 days of receipt of the notice.
The whole three-stage payment cycle is generally 28 days.
NSW(New South Wales)
The buyer is required to pay within 3 months after real estate delivery.
If the buyer buys not the existing house, but the fixed term house, the tax must be paid within three months of signing the contract.
Northern Territory
Buyers are usually required to pay taxes within 60 days of signing the contract or at the time of delivery, whichever is the earlier.
For example, if house is a present house and will be delivered soon, then the delivery time shall prevail; however, if house is a term house and the delivery time is much longer than the contract time, this time shall prevail within 60 days after the contract time.
Queensland 缩写为 Queensl
Buyers are required to pay printing tax within 30 days of real estate delivery.
[地名][澳大利亚] South Australia, State of
Buyers are required to pay taxes on the date of real estate delivery.
Tasmania
The buyer needs to pay the tax within 3 months after the signing of the contract.
If the delivery date is within 3 months, it is usually paid on the delivery date (up to three months may be allowed); if the delivery date is later than 3 months, it must be paid within 3 months.
[地名][澳大利亚] Victoria, State of
Pay within 30 days after the buyer signs the contract.
If the Closing Date is within 30 days, taxes are usually paid on the Closing Date(up to 30 days may be allowed to be allowed).
[地名][澳大利亚] Western Australia, State of
Buyers are required to pay taxes within two months of real estate delivery.
There is an absolute difference between the date of signing the contract and the date of delivery. I hope that when you buy real estate, you must be optimistic about the state regulations and prepare enough money, so as to prevent the shortage of money.
