Are you familiar with stamp duty? I am sure not all of us are familiar with this unless you have experience buying a house, a car or some properties.
What is really stamp duty? Stamp duty is a tax paid to the state’s revenue office for the purchase of some major items such as cars, business assets, real estate, house and lot, etc.
Some will already include it as part of the total purchase/cost of goods sold. In cases where cost is already very considerable amount, this will already get attention because of the significant amount required for this.
The buyer is the one who will pay for the stamp duty. How much and what will be the time frame to pay? This will vary upon the different state. Your Home Loans Melbourne who have the expertise and are knowledgeable with international tax laws will come very handy in providing us with the necessary information. Since stamp duty is a one off tax imposed on the purchase of some items like real estate, car or business assets we will be needing the services of an accountant.
As to the question of how much stamp duty to pay, you can check with your state’s revenue office as the cost will vary from state to state. Most often this is calculated on a certain percentage of the purchase price.
As to the time frame needed to pay, this too will vary from state to state.To prepare for this , you factor the cost of stamp duty into your savings because some lenders will require you to pay on top of your deposit. When applying you can tap the services of Home Loans Melbourne whose staff will assist you in all the necessary transactions to facilitate everything.