WHAT YOU SHOULD KNOW ABOUT VICTORIA’S STAMP DUTY


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Uploaded on Aug 24, 2023

Category Real Estate

Victorians confront a significant initial hurdle to the real estate market because their state has some of the highest stamp duty rates in the nation. Real more-https://thecompanyre.com.au/what-you-should-know-about-victorias-stamp-duty/

Category Real Estate

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WHAT YOU SHOULD KNOW ABOUT VICTORIA’S STAMP DUTY

WHAT YOU SHOULD KNOW ABOUT VICTORIA’S STAMP DUTY Victorians confront a significant initial hurdle to the real estate market because their state has some of the highest stamp duty rates in the nation.  DESCRIBE STAMP DUTY When you purchase or receive a property, the state of Victoria levies a tax known as stamp duty, or land transfer duty.  HOW MUCH STAMP DUTY IS CHARGED IN VICTORIA, AND HOW IS IT DETERMINED?   The amount of land transfer duty you must pay is determined using a sliding scale. This is based on the dutiable value of your property.   WHAT DOES DUTIABLE VALUE MEAN A property’s dutiable value is the higher of the price you paid for it or its market value. This implies that stamp duty will still be due by anyone who received a property as a gift, acquired it through a trust, or purchased it for a large discount.     Who in Victoria Free From Paying These include Stamp Duty? a first-time homeowner, acquiring a residence, a retiree, shopping off- the-cuff. Contact Us •Suite 1, 1 Cook Drive, Pakenham Vic 3810 •[email protected] .au •03 5918 4315 •Content Resource https://thecompanyre.com.au/w hat-you-should-know-about-vict orias-stamp-duty/ Thank You!