Stamp Duty Calculator: how much does this add to your house price?

Stamp duty throughout Australia varies from state to state and it is essential to know the stamp duty costs in the area you’re considering before buying. This duty, despite recent reductions set out in July 2009, represent a significant portion of your investment so it is important to be informed. Be aware of any concessions in order to make the most of any opportunities to reduce the amount due.

To find out, which concessions are available in your state, contact the Office of State Revenue.

When you know the state that you are looking to invest in, calculate the amount due, a stamp duty calculator is a great financial tool and aid and should be used here. The first inputs are the value of the property and the loan amount. Concessions from higher stamp duty payable are available, if you are purchasing as an owner-occupier, as opposed to purchasing for investment purposes or if you are a first time buyer. Finally the stamp duty amount will vary depending on whether you are purchasing an already established home, a newly constructed home or vacant land to build a new home.

As an incentive for first home buyers, most states and territories in Australia offer stamp duty concessions to first time home purchasers. These concessions are summarised in detail at www.mortgageworldaustralia.com.au.

Online tax calculators can provide you with some guidance but in order to ensure you have an accurate calculation, a stamp duty calculator is key. Also to gain more knowledge about the value added to your house price, consult the Office of State Revenue or the State Government Treasury in your state for the most recent information.