Every state and territory in Australia requires a stamp duty be levied on transactions such as mortgages, the purchase of a home, transfer of land, buying a home, and other major transactions, including large business deals. When applying for a loan, the borrower pays stamp duty to the lender. Stamp duty is also paid on the purchase of the home and, if applicable, the purchase of the land, at the settlement table. Since stamp duty adds to your overall expenditure during the home buying process, it is very important to get an idea of your expected stamp duty payment ahead of time. Considering that, depending on the amount of the loan, home value and location, the stamp duty could be anywhere from 1.25 to 6.75% plus a flat fee that might range from hundreds to tens of thousands of dollars, it is vital to get an idea of your expected stamp duty as soon as possible.

 

To use the stamp duty calculator, you need to have all the details of the loan and the information about the home handy. This includes:

 

  • Your state or territory
  • The value of the property
  • The value of the land (if applicable)
  • The total loan amount
  • The intended purpose of the property purchase (home or business)
  • Whether you are a first time buyer (it is possible you are eligible for stamp duty concessions or possibly a total waiver)

After you provide this information, the stamp duty calculator can give you an idea of these items:

 

  • Mortgage registration fee
  • Transfer fee
  • Stamp duty on the property
  • Stamp duty on the loan

As you can see, there are a lot of possible fees you may be responsible for with regard to stamp duty when purchasing a home. This is why it’s so important to use a stamp duty calculator in order to prepare yourself and assemble the funds needed ahead of time to get your home purchase done.

Important: This calculator is provided to be use as a guide only and should not be considered a quote, a loan offer, or investment advice. Other criteria may need to be considered, and before taking out a loan you should always consult with your personal financial adviser.