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Fees and Taxes (Page 1 / 2 )
When negotiating a price for the purchase of a property, do not forget to take into account the Stamp Duty that will become payable by you at settlement. Stamp Duty is normally the biggest added expense to be taken into account by the purchaser. Stamp Duty in Victoria is based on the value of the property, usually the purchase price and MUST be paid at settlement. If there is a mortgage, there will also be additional Stamp Duty.
Calculate Your Stamp Duty (requires javascript turned on)
You may be eligible for Stamp Duty exemption or benefits. Check with Right Choice Conveyancing.
Should you wish to establish how much will be due to be paid by you at settlement, you can contact this office for further details or visit the State Revenue Office through our links page.
Land Titles Office: At settlement, you will also be required to pay fees to the Victorian Land Titles Office for the registration of your documents. Included in these fees will be registration fees on the Transfer of Land which amount will depend on the Purchase price of the property, and registration fees on the mortgage (usually $65.00). Should you wish to establish how much will be due to be paid by you at settlement, you can contact this office for further details.
Capital Gains Tax: Any prospective purchaser should be aware of the potential tax liability associated with the purchase. For example unless the property is used as your principal residence, you may be taxed on any profits made by you on the re sale of such property. If you intend to sell within 12 months of purchase, or if you believe you might be affected by any Capital Gains Taxes, you should contact the Tax Office or your Accountant.
Disclaimer: The information provided on the Right Choice Conveyancing web site is not intended to be legal advice. Many factors unknown to us may affect the applicability of any statement or comment that we make on the Right Choice Conveyancing web site to your particular circumstances.