What is stamp duty?
What is stamp duty? Whether you’re a first home buyer, an investor, downsizer, retiree or anyone else in between, understanding stamp duty can take a bit of time.
Knowing how to calculate it and what stamp duty exemptions or concessions you might be eligible for can also be confusing.
When it comes to property law, the learning curve is steep, but that’s where our local conveyancing experts can help.
It is just one part of your conveyancing journey, but Settle Easy’s professional conveyancers are experts when it comes to understanding and explaining stamp duty.
In simple terms, stamp duty is just a tax or duty that must be paid when you acquire a property – even if you receive that property as a gift or if it is obtained through a company or trust.
How much does stamp duty cost?
Basically, stamp duty costs a lot.
Apart from your home deposit, if you buy property anywhere in Australia, stamp duty is likely to be one of your biggest expenses.
And it’s something that’s calculated based on how much your property costs and on a case-by-case basis.
It’s important to budget for stamp duty because it’s an expense that is in addition to mortgage fees and any other costs that are part of acquiring property.
We recommend you ask your expert conveyancer at Settle Easy to help work out exactly how much stamp duty you will need to pay.
You can also try our easy-to-use free stamp duty calculators. That way, you can anticipate what your stamp duty costs will be and budget accordingly.
Am I eligible for stamp duty concessions?
Here’s the good news – you may be eligible for a concession or exemption.
The rules about stamp duty discounts are different depending on which Australian state or territory you are buying property in.
Although most property buyers will need to pay stamp duty, if you’re a first home buyer, you might be eligible for
- an exemption or a concession.
- You can find out more about stamp duty exemptions and stamp duty concessions at:
- Revenue NSW
- Queensland Government
- State Revenue Office Victoria
Of course, your friendly local conveyancer at Settle Easy can also explain any concessions or exemptions to you.
We think it’s really important that you spend time finding out what stamp duty you may have to pay before making one of the biggest financial commitments of your life.
Our conveyancers are the best.
It’s not just us saying that, here’s what some of our customers think about us:
We’ve recently sold 2 properties and were introduced to Settle Easy by our agent. Their service has been excellent, with a couple of tricky details dealt with expertly by Rebecca with a minimum of fuss. Timely communication and a can do attitude at all times. We’re rapt with Settle Easy and will definitely use them again. – Iain Clark
Settle Easy is the second online conveyancing firm I have used this year and is hands down the best. Friendly, knowledgeable staff like Rebecca Lowe are only a phone call away and the Settle Easy platform makes it really easy to manage the flow of documents and know exactly where you are in the conveyancing process. I would not hesitate in recommending the service to anyone wanting value and simplicity in their property purchase or sale transaction. – Rod Chapman
Online conveyancing fees
At Settle Easy, we think our customers have a right to know how much their conveyancing will cost from the beginning, especially since buying or selling property isn’t cheap.
So, until 30 June 2021 you will only pay $880 (inc. GST) instead of $1,100 for our professional conveyancing services fee.
Let us, help you, settle easy
Buying and selling a property has never been easier with Settle Easy, your online conveyancing experts.
So, if you need conveyancing assistance to help complete the process of buying or selling property, why not trust our local conveyancers to make the process of buying and selling completely simple and easy.
Our conveyancing team is available 24/7, so please contact us today at firstname.lastname@example.org or call us on 1800 88 66 88.