How much is stamp duty?
Depending on where you live in Australia, the cost of stamp duty differs greatly. The cost can also be altered by:
- What type of property you are buying; whether it is an investment property or a rental property matters
- If you are a first home buyer
- Whether you are a foreign buyer
- Whether you are buying vacant land, a new home, or an existing one
Calculate stamp duty
It can be incredibly difficult to figure out how much stamp duty you need to pay, but fortunately, stamp duty calculators exist to make things easier for you.
These calculators will break down all of the factors included under stamp duty, as well as the income in the household, how many dependents there are, and any additional fees you will accrue.
If you are uncertain as to whether you will be able to afford the tax that comes with a new home or land, it is best to do a trial calculation to know your spending limits.
Disclaimer: This article is not intended as legal, financial or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature you should seek advice from a qualified and registered Australian legal practitioner or financial or investment advisor.
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