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Stamp Duty

Need help finding the right loan or working out your stamp duty?

Visit eChoice and use there free Stamp Duty Calculators and other Home Loans tools or to talk with an experienced Home Loan Consultant about your options – it’s Online, it’s Easy & it’s Free!

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As Mark Twain famously proclaimed there are two certainties in life: “death and taxes”, and much to the exasperation of the home-owner there will always be situations when the tax office will come knocking at the door following the purchase of a home to collect the stamp duty.

What is Stamp Duty?

Stamp duty is a tax levied upon the sale of shares and property to cover the cost of the legal documents of such transactions. It is levied by the respective state governments and cuts in it various rates depending upon which state you reside.

Stamp Duty differs in Australian states

For more information about the relevant stamp duty, contact the relevant State Government department below:

ACT

Tel: (02) 6207 0028

http://www.revenue.act.gov.au/taxes.html

NSW

Tel: (02) 9689 6200

http://www.osr.nsw.gov.au

NT

Tel: (08) 8999 7949

http://www.nt.gov.au/ntt/revenue

QLD

Tel: 1300 300 734

http://www.osr.qld.gov.au

SA

Tel: (08) 8226 3750

http://www.revenuesa.sa.gov.au/index.html

TAS

Tel: (03) 6233 3722

http://www.service.tas.gov.au

VIC

Tel: 132 161

http://www.sro.vic.gov.au

Stamp-Duty Exemptions

Stamp-Duty exemptions or stamp duty concessions will vary from state to state, but if you are a first-home buyer or have purchased a home below the requisite threshold you may not have to pay stamp-duty. Also it could be possible that you are eligible for some stamp-duty concessions.

For instance, in Tasmania, purchasers who are eligible for the First Home Owners Grant are eligible to receive a maximum stamp duty concession of $4,000 for the purchase of owner occupied property valued up to $350,000.

In South Australia, Properties with a purchase price or value of $80,000 or less will receive a full concession of Stamp Duty. The amount of the concession is reduced from 100% to 50% when the value of the property is between $80,001 and $100,000. The concession will remain at 50% where the property is valued at between $100,001 and $150,000.

If you want a guide on how much stamp-duty you might hypothetically have to pay, then you may find this stamp-duty calculator useful in providing an estimate of stamp-duty costs incurred.

Visit eChoice and use there free Stamp Duty Calculators and other Home Loan tools or to talk with an experienced Home Loan Consultant about your options – it’s Online, it’s Easy & it’s Free!

eChoice compares over 25 of the major Australian lenders & thousands of products to find a loan that matches your needs – Learn More – Visit eChoice Home Loans