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Land Transfer Duty for House, Home or Property Purchase

How much could Land Transfer Duty add to the cost of your property?

Each state or territory has differing Land Transfer Duty (formerly called stamp duty in Victoria) on property purchases. Land Transfer Duty on house, home or property purchases is a contract tax that is payable on settlement of your new property. When you buy land, which may include buildings, duty payable is based on the market value of the property or the purchase price, whichever is greater.

More information is available on the What is Stamp Duty? page.

How much Land Transfer Duty will you have to budget for?

If you want to find out how much is Land Transfer Duty or to find out the Land Transferuty on home, house or property purchases, you can visit the Victorian Governments Land Transfer Duty calculator page.

Find out here with the VIctorian Government stamp duty calculator.

Are you eligible for a First Home Buyers Land Transfer Duty reduction?

The Victorian Government offers eligible first home buyers a stamp duty exemption or reduction when they purchase a new or established home. The first home buyers stamp duty exemption applies where you buy a principal place of residence valued at not more than $600,000 - yes .... you pay NO Stamp Duty.

First Home Buyers buying a home with a dutiable value from $600,001 to $750,000 will be entitled to a concessional rate of duty calculated on a sliding scale.

If this seems like information overload, relax, give us a call and we'll explain your entitlements in a FREE 1 hour consultation.

Free Mortgage App - includes calculation on stamp duty payable on house, home or property purchase

Free Mortgage App

There is a range of free mobile apps that help with calculating the real cost of purchasing your property.

One we like is called "TAP Mortgage" It calculates a range of figures for you, including stamp duty payable, mortgage repayments and more!

Find out more about this app and download it here.

 

Want more information about Land Transfer Duty?

More information is available on the What is Stamp Duty? page.

If this seems like information overload, relax, give us a call or request a free consultation and we'll explain your entitlements in easy, plain English.

 

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