In this article, you'll learn how much stamp duty you will need to pay on your new home.
What is Stamp Duty in Queensland?
Stamp duty essentially is the tax imposed by the QLD government on insurance, sometimes on car purchases and always home purchases. The amount charged is the higher of the market value or the property value (including general sales tax). This means the higher the property value is, the higher the stamp duty in Queensland will be.
Stamp duty can be a substantial additional cost towards buying a property, so the Queensland government has decided to help first home buyers out by giving them a rebate on all or part of the cost of the stamp duty.
What you need to know:
- ✅ Stamp duty is paid by the buyer of a property
- ✅ There are discounts and waivers of stamp duty for certain home buyers
- ⛔️ It is paid on new homes, established homes or vacant land
- ⛔️ The price you pay varies depending on the value of the property
https://www.huntergalloway.com.au/stamp-duty-calculator-queensland/