Stamp duty and other costs of buying property
#1
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Thread Starter
Joined: Jul 2004
Location: Kincumber, Central Coast
Posts: 277
Stamp duty and other costs of buying property
Say you were buying a property for $600,000 what other costs would be on top of the purchase price. This would be in Vic, if the rules are different for different states.
#2
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Re: Stamp duty and other costs of buying property
Originally Posted by pogsy
Say you were buying a property for $600,000 what other costs would be on top of the purchase price. This would be in Vic, if the rules are different for different states.
More local info can be found at http://s7.invisionfree.com/BritVics
#3
Forum Regular
Joined: Jan 2005
Posts: 35
Re: Stamp duty and other costs of buying property
Originally Posted by ABCDiamond
Here is a link for a stamp duty calculator http://loan.echoice.com.au/pages/calculator_index.html
More local info can be found at http://s7.invisionfree.com/BritVics
More local info can be found at http://s7.invisionfree.com/BritVics
cheers,poolman
#4
Re: Stamp duty and other costs of buying property
Originally Posted by pogsy
Say you were buying a property for $600,000 what other costs would be on top of the purchase price. This would be in Vic, if the rules are different for different states.
Great place Australia....there's stamp duty to pay when you buy a car too
#5
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Re: Stamp duty and other costs of buying property
Originally Posted by poolman
if moving to brisbane does anybody know basic costs for buying a propertyy of $600,000 dollers for first time buyer. do you get allowance for stamp duty.breakdown would be very much welcome,
cheers,poolman
cheers,poolman
The basic info, as at Aug 2004, is:
Under the new transfer duty arrangements, the lower duty rate of $1 for each $100, or part of $100, will apply to the first $300,000 of the consideration for, or value of, a home.
For first home buyers, no duty applies to the purchase of their home up to $250,000.
Currently, where the price exceeds $250 000, home concession duty applies to the first $250 000 with a sliding scale rebate applying to homes over $250 000 up to $499 999
This link gives details of stamp duty concessions from August 2004 for home buyers:
http://www.osr.qld.gov.au/taxes/duti...ome_buyers.htm
A First Home Owners grant of $7,000 is also available to most people.
http://www.osr.qld.gov.au/gas/fhog/
One of the conditions is : You, or a joint applicant, must be an Australian citizen or a permanent resident.
If someone in QLD buys a house for under $250,000, there is NO stamp duty, AND they may get a $7,000 grant just for buying it
Legal costs.
I paid the following, on a $400k house 2 years ago:
Solicitors Fees $1,023.00
Registration and other fees $573.50
Also expect to pay these costs:
Pest Inspection $175.00
Building Inspection $165.00
#6
Forum Regular
Joined: Aug 2004
Location: Portsmouth
Posts: 58
Re: Stamp duty and other costs of buying property
Does the $7,000 grant apply in Victoria??
Originally Posted by ABCDiamond
Stamp duty:
The basic info, as at Aug 2004, is:
Under the new transfer duty arrangements, the lower duty rate of $1 for each $100, or part of $100, will apply to the first $300,000 of the consideration for, or value of, a home.
For first home buyers, no duty applies to the purchase of their home up to $250,000.
Currently, where the price exceeds $250 000, home concession duty applies to the first $250 000 with a sliding scale rebate applying to homes over $250 000 up to $499 999
This link gives details of stamp duty concessions from August 2004 for home buyers:
http://www.osr.qld.gov.au/taxes/duti...ome_buyers.htm
A First Home Owners grant of $7,000 is also available to most people.
http://www.osr.qld.gov.au/gas/fhog/
One of the conditions is : You, or a joint applicant, must be an Australian citizen or a permanent resident.
If someone in QLD buys a house for under $250,000, there is NO stamp duty, AND they may get a $7,000 grant just for buying it
Legal costs.
I paid the following, on a $400k house 2 years ago:
Solicitors Fees $1,023.00
Registration and other fees $573.50
Also expect to pay these costs:
Pest Inspection $175.00
Building Inspection $165.00
The basic info, as at Aug 2004, is:
Under the new transfer duty arrangements, the lower duty rate of $1 for each $100, or part of $100, will apply to the first $300,000 of the consideration for, or value of, a home.
For first home buyers, no duty applies to the purchase of their home up to $250,000.
Currently, where the price exceeds $250 000, home concession duty applies to the first $250 000 with a sliding scale rebate applying to homes over $250 000 up to $499 999
This link gives details of stamp duty concessions from August 2004 for home buyers:
http://www.osr.qld.gov.au/taxes/duti...ome_buyers.htm
A First Home Owners grant of $7,000 is also available to most people.
http://www.osr.qld.gov.au/gas/fhog/
One of the conditions is : You, or a joint applicant, must be an Australian citizen or a permanent resident.
If someone in QLD buys a house for under $250,000, there is NO stamp duty, AND they may get a $7,000 grant just for buying it
Legal costs.
I paid the following, on a $400k house 2 years ago:
Solicitors Fees $1,023.00
Registration and other fees $573.50
Also expect to pay these costs:
Pest Inspection $175.00
Building Inspection $165.00
#7
Guest
Posts: n/a
Re: Stamp duty and other costs of buying property
Originally Posted by chaleyscott
Does the $7,000 grant apply in Victoria??
http://www.sro.vic.gov.au/SRO/sroweb...set=iso-8859-1