Stamp Duty Buying Off The Plan Qld

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Do you pay stamp duty when you buy off the plan in Qld?

Yes, in Queensland we do pay stamp duty when buying property off the plan. 

Unlike some states and territories, for example, Victoria, they offer exemptions and concessions (depending on your situation).

🏠 When do you pay stamp duty?

Generally speaking it is payable at settlement. 

🏠 How is stamp duty calculated?

It is based on the market value of your house.

Qld Government Transfer Duty Estimator – https://www.qld.gov.au/housing/buying-owning-home/advice-buying-home/transfer-duty/how-much-you-will-pay/calculating-transfer-duty/estimate-transfer-duty

We like using this Stamp Duty Calculator because it also includes fees – https://stampduty.calculatorsaustralia.com.au/stamp-duty-qld

Need Help Need help working out your Stamp Duty? Call Donna Quinn

Example of Stamp Duty Calculation 

Property Value is $450,000.00 in Qld

Primary Residence

Not a first home buyer

A new home

Australian Resident is purchasing

Stamp Duty plus Fees $8,389.00

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Stamp Duty Rates in Queensland

The Queensland Government has announced that the rates of stamp duty (also known as transfer duty) payable will change from 1 July 2012. Below please find current transfer duty rates for transaction of land or property as of July 1, 2012:

The applicable rate is based on the date the Contract is entered into and not the settlement date.

Other related fees

Mortgage Registration Fee: $192.00

Land Transfer Fee: $192.00 + additional fee for lodging a transfer if the consideration is more than $180,000 – $36.00 for each $10,000 or part of $10,000 more than $180,000

https://stampduty.calculatorsaustralia.com.au/stamp-duty-qld

Dutiable value

Duty rate

Up to $5,000

Nil

$5,000 to $75,000

$1.50 for each $100, or part of $100, by which the dutiable value is more than $5,000

$75,000 to $540,000

$1,050 plus $3.50 for each $100, or part of $100, by which the dutiable value is more than $75,000

$540,000 to $1,000,000

$17,325 plus $4.50 for each $100, or part of $100, by which the dutiable value is more than $540,000

More than $1,000,000

$38,025 plus $5.75 for each $100, or part of $100, by which the dutiable value is more than $1,000,000