Hi There
I’m looking to get into property investment but currently I’m still at the research stage…
Does anyone know where I can get a good comparison of overheads such as Stamp duty and Land tax on a State by State basis?
Try places like http://www.realestate.com.au, or http://www.jaffasoft.com, or http://www.rol.osr.wa.gov.au/taxcal/ (well that last one is for WA but it might have lkinks to yuor state).
Hope these help for starters.
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas Edisongidday,
being a mortgage broker I have got software which tables at a glance the various Stamp Duties…which probably dosent help you much – unless you find a property or have some idea of the $$ value you want to go to – then I can email you with the various costs fairly quickly.
cheers
PC[biggrin]
Queensland stamp duty rates (with a calculator) at
http://www.osr.qld.gov.aumarkk
Happy Hunting
http://www.kentscollections.comOriginally posted by snapper:Hi There
I’m looking to get into property investment but currently I’m still at the research stage…
Does anyone know where I can get a good comparison of overheads such as Stamp duty and Land tax on a State by State basis?
The homework you are doing is important preliminary research, but no where near as important as some other factors when choosing a location in which to invest.
Find areas that havea history of long term strong capital growth.
Lokk for suburbs in transition, suburbs that are changing in nature as new generations move in as the older people leave. Look for areas where property values are likley to increase as these young people change the nature of the area with renovations or new developments.
Find areas where there is a strong demand by tenants.
Good luck with your investing
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auThat’s fine but if someone already has found a good are to invest then these figures are required (possibly) immediately.
It also helps with learning to become better at number crunching if you know these figures on duties and taxes.
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Before you decide which state you need to review your plan. What is your aim. If you are looking to invest for a number of years then you need to look at suburbs with capital growth. If you are after cashflow and growth look to New Zealand
Nigel Kibel
http://www.propertyknowhow.com.au
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Depends on the cost of your house (sliding scale of charges and rebates in each state).
“Landowners are generally liable for land tax when the unimproved value of taxable land exceeds certain thresholds. In some states there are deductions and rebates available, depending on the use of the land. Principal places of residence are usually exempt from land tax although this is subject to certain qualifying criteria, which vary between states.”
NT doesn’t pay land tax at all. http://www.nt.gov.au/ntt/revenue
NSW has land tax even on your principal place of residence. I could be wrong, but I believe the charges are generally highest in this state.
http://www.osr.nsw.gov.auSouth Australia: http://www.treasury.sa.gov.au/revenuesa
Queensland: http://www.osr.qld.gov.au
ACT: http://www.act.gov.au/government/taxation
Tasmania: http://www.tres.tas.gov.au
Victoria: http://www.sro.vic.gov.au
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