NSW has a tiered stamp duty system based on the purchase price of the property. The rates increase as the property value rises. Additionally, NSW offers stamp duty concessions for first home buyers purchasing properties below certain price thresholds.
Stamp duty rates in Victoria also vary based on the property value. VIC provides stamp duty exemptions or concessions for first home buyers purchasing properties below certain price thresholds. From July 1, 2017, the Victorian government introduced the option for first home buyers to pay stamp duty based on the value of the property, or a significantly reduced amount over time through the First Home Owner Grant (FHOG) program.
Queensland has a similar approach to NSW and VIC, with stamp duty rates based on property value. QLD offers concessions for first home buyers purchasing properties below certain price thresholds.
Stamp duty rates in Western Australia are also based on the purchase price of the property, with different tiers and rates. WA offers stamp duty exemptions or concessions for first home buyers, depending on the property value.
SA has a progressive stamp duty system, where the rates increase as the property value rises. The SA government provides stamp duty concessions for first home buyers, subject to certain eligibility criteria.
Stamp duty rates in Tasmania are based on the property value, with different tiers and rates. TAS offers stamp duty concessions for first home buyers, subject to specific conditions.
The ACT has a progressive stamp duty system, with rates increasing as the property value rises. The ACT government provides stamp duty concessions for first home buyers, which vary depending on the property value.
NT applies stamp duty based on the property value, with different tiers and rates. NT provides stamp duty concessions for first home buyers purchasing properties below certain price thresholds.It’s important to note that stamp duty rates, thresholds, and concessions can change over time as governments review and revise their policies.
Let’s dive into the commonly asked questions about Stamp Duty and how a calculator can help.
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