Hi everyone,
We are nearly finished with the software but we just need to check some last things.
How many different property types are there?
Here is what we got:-Duplex
-Apartment
-House
-Unit
-Block of land
-Semi detachedHave we missed any?
The other question is: Are the rates for stamp duty the same for all states?
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Australian Property SoftwareAPIM —> http://www.apim.com.au/beta.html
APDM —> http://www.apim.com.au/apdm.aspx
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Looking for stamp duty info I came upon this link
http://www.taxinstitute.com.au/CDA/Stories/Individual/1,1030,37255,00.html
which talks about Stamp duty “corporate reorganisation exemption”.
Does anyone know more about this?*************
Australian Property SoftwareAPIM —> http://www.apim.com.au/beta.html
APDM —> http://www.apim.com.au/apdm.aspx
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OK after some internet searching I found this site
http://www.stampoutstampduty.com.au/rates.htm
It calculates the Stamp Duty for each state. (Each state is different.) and Victoria seems to pay the most (2nd is NT). The state that pays the least is (not suprisingly) Queensland.
*************
Australian Property SoftwareAPIM —> http://www.apim.com.au/beta.html
APDM —> http://www.apim.com.au/apdm.aspx
*************
Yes, S/D is a state tax and is therefore calculated differently throughout Australia.
Be aware that S/D is calculated differently in QLD for owner-occupiers and investment properties are subject to much higher rates.
It’s also worth noting that exemptions and concessions on S/D may also apply to first home buyers and pensioners in some states.
WA owner-occupiers may be eligible for concessions on S/D rates provided the property value doesn’t exceed $135,000.
I’m not sure about your distinction between a unit and an apartment, but you may also want to include townhouses on your list. These are also strata titled but are typically defined as being built over 2 levels and usually in smaller complexes than apartments/units.
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