Hello all,
I am based in QLD and was talking with a fellow the other day who is based in NSW. He has purchased a property in QLD (off the plan) and was commenting that he has to pay NSW stampduty on the purchase of the QLD property.
I thought stamp duty related to the location of the property as per land tax.. He seems to feel it is based on the location of the owner? Or is it his PPOR…
What happens is someone's PPOR is in NSW, they are currently working in WA and purchase a property in QLD…?
hee hee, just curious
Stamp duty is payable to the state government the property is located in.
Some states also charge stamp duty on the loan.
Two different duties depending on where you are.
At tops only one of each to pay.
Not quite. Stamp duty is levied on the value of the contract of sale/transfer and separately again on the value of the mortgage. Some stamp duty exemptions may apply for off the plan, retirees etc.
Land tax is levied on the total value of land held in the state less your ppor.
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