澳洲Australia property Stamp Duty Confusion.. Please help! | Syd
在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m
Im trying to get an idea of the up front costs of buying a house and land package in SA and are a little confused about the stamp duty.
My questions are:
1. Do new house and land packages attract some kind of concession in SA? Builders are marketing their packages as 'saving dollars on stamp duty'
2. The Revenue SA website says that 'from jul 1 2005, all mortgages taken out for the purposes of securing a loan for home aquisition or improvement will be exempt from stamp duty'. Does this mean that I would be exempt, if I was to live in this home?
This is where the confusion lies. I called the revenue SA office today and they said I would be paying about 5K stamp duty on a 200K loan.
Maybe I've read the site wrong...can anyone shed some light??
there are two stamp duties
one on the purchase and one on the mortgage check which one is exemp it maybe the mortgage from the sound of it as it is the lessor of the two.
the big one is on the purchase and thats about 5% the other is about 1% not sure in sa just some info
1. With a house and land package you only pay stamp duty on the price of the land. However, keep in mind that whilst the house is being built you will be paying interest on the loan for the land.
2. I assume they are talking about mortgage stamp duty, which is paid on the LOAN amount rather than the purchase price. Mortgage stamp duty is paid in addition to the stamp duty paid on the purchase price. Stamp duty paid on the purchase price is the major expense - this would be the 5k they mentioned. Mortgage stamp duty might be around $1000 or less.