🎄Day 5 - Hidden Costs When Buying a Home: Stamp Duty 💲💲 Stamp Duty (also called Transfer Duty) is a tax you pay to your state government when you buy property. And the more expensive the property, the more duty you pay. This can cost you tens of thousands! In NSW, stamp duty on an $800k home is roughly $31,000. On a $1M home? Around $40,000. ✨ Good News for First Home Buyers: If you’re buying a new or existing home under $800,000 you are exempt from paying stamp duty. To qualify you must: 👱‍
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🎄Day 5 - Hidden Costs When Buying a Home: Stamp Duty 💲💲 Stamp Duty …
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Not all commercial properties are stamp duty exempt. Exemptions depend on the land use code, not just what the contract says. Before you sign, check with us or ask the agent to confirm the land use code so you know exactly what applies. #Tuckfields #StampDuty #CommercialProperty #LandUseCode #ConveyancingSA #PropertyAdvice #BeforeYouSign | Tuckfields Conveyancing
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Older Victorians would be exempt from stamp duty under a new plan from the property industry. While it would encourage empty-nesters to downsize there's likely to be opposition from younger buyers. #9News | 9 News Melbourne
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