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Interpretation of the Australian Property Stamp Duty

July 2, 2015

What is stamp duty?

Starts with the basics, stamp duty for a large number of acquisitions are an additional taxes, including buying and selling real estate, cycling and business assets. It can also apply to the housing loan, gifts and some insurance products. It depends; stamp duty may be paid by the purchaser or the borrower. The amount is fixed or according to the transaction price. But in the purchase of real estate property, the stamp duty is paid by the buyer.

When to pay stamp duty?

In terms of law, stamp duty should be paid within 30 days of the property clinch a deal. In Australia, the time for paying stamp duty depends on the property type you bought: buying existing properties: stamp duty should be paid three months after the contract exchange; purchasing off-the-plan properties: if property completion time is within 15 months after the contract exchanged, the stamp duty needs to pay before the property completed; If property completion time is more than 15 months after the contract exchanged, the stamp duty should be paid within 15 months after contracts exchanged.

Does everyone need to pay stamp duty?

All the land transfer, or property sales need to pay stamp duty. But under certain conditions, some states may have exemption or discount.

Preferential treatment for the following people:

Retirees

First home buyers

Family farm

Young farmers

Main residence

Off-the-plan sales

Why stamp duty is different in Australian states?

Australia’s federal government does not levy stamp duty, which is levied by the state and territory governments. Each state for the stamp duty amount is different. However, the stamp duty is generally based on two factors – the market value of the property or the property price (including tax).

How much stamp duty should I pay?

The following is the calculation for stamp duty rate of each state or territory.

New South Wales 新南威尔士州
< $14,000 1.25%
$14,001 – $30,000 $175 + 1.5%
$30,001 – $80,000 $415 + 1.75%
$80,001 – $300,000 $1,290 + 3.5%
$300,001 – $1 million $8,990 + 4.5%
> $1 million $40,490 + 5.5%
Victoria 维多利亚州
< $20,000 1.4%
$20,001 – $115,000 $280 + 2.4%
$115,001 – $870,000 $2,560 + 6%
> $870,000 5.5%
Queensland昆士兰州
< $20,000 1.5%
$20,001 – $50,000 $300 + 2.25%
$50,001 – $100,000 $975 + 2.75%
$100,001 – $250,000 $2350 + 3.25%
$250,001 – $500,000 $7225 + 3.5%
> $500,000 $15,975 + 3.75%
South Australia 南澳大利亚州
< $12,000 1%
$12,001 – $30,000 $120 + 2%
$30,001 – $50,000 $480 + 3%
$50,001 – $100,000 $1080 + 3.5%
$100,001 – $200,000 $2830 + 4%
$200,001 – $250,000 $6830 + 4.25%
$250,001 – $300,000 $8955 + 4.75%
$300,001 – $500,000 $11,330 + 5%
> $500,001 $21,330 + 5.5%
Western Australia 西澳大利亚州
< $80,000 2%
$80,001 – $100,000 $1600 + 3%
$100,001 – $250,000 $2200 + 4%
$250,001 – $500,000 $8200 + 5%
> $500,000 $20,700 + 5.4%
Tasmania 塔斯马尼亚州
< $1,300 $20
$1,301 – $10,000 1.5%
$10,001 – $30,000 $150 + 2%
$30,001 – $75,000 $550 + 2.5%
$75,001 – $150,000 $1675 + 3%
$150,001 – $225,000 $3925 + 3.5%
> $225,001 $6,550 + 4%
Australian Capital Territory 首都领地
< $100,000 2%
$100,001 – $200,000 $2000 + 3.5%
$200,001 – $300,000 $5500 + 4%
$300,001 – $500,000 $9500 + 5.5%
$500,001 – $1,000,000 $20,500 + 5.75%
> $1 million $49,250 + 6.75%