Quickly estimate your stamp duty obligations with our user-friendly calculator. Know your costs upfront using our stamp duty calculator!
What is Stamp Duty and When Do You Pay It?
Definition
Stamp duty is a tax levied on the purchase of property. It's a significant cost to consider when budgeting for a real estate transaction.
Payment Timing
Stamp duty is typically paid at the settlement of the property transaction. Some states offer options for deferred payment under specific circumstances.
Stamp Duty Rates: A Breakdown by State
First-Time Homebuyer Exemptions and Discounts
1
Eligibility
Many states offer exemptions or discounts for first-time homebuyers to ease the financial burden of entering the property market.
2
Requirements
These exemptions usually come with certain requirements, such as income caps, residency periods, and property value limits.
3
Application
It's crucial to check eligibility criteria and apply for these benefits when purchasing your first home to save money.
How to Use Our Stamp Duty Calculator
1
Enter Property Value
Input the purchase price of the property you intend to buy.
2
Select State
Choose the state or territory where the property is located.
3
Calculate
Click the "Calculate" button to get an instant estimate of the stamp duty payable.
Example Calculation: See It In Action
Property Value
$750,000
State
New South Wales (NSW)
Stamp Duty (Estimated)
$28,000 (approximately)
Tips for Minimizing Your Stamp Duty Liability
1
1
Consider First Home Benefits
2
2
Negotiate Purchase Price
3
3
Seek Professional Advice
Stamp duty can be a significant expense, but you can explore options like first home buyer grants or carefully negotiating the property price to potentially reduce this cost.
Frequently Asked Questions About Stamp Duty
Is stamp duty tax deductible?
No, stamp duty is generally not tax deductible.
Can I include stamp duty in my mortgage?
Yes, some lenders allow you to include stamp duty in your mortgage.