Making the decision to purchase an investment property is not to be taken lightly and there are a lot of costs to consider before buying.
One of these costs is stamp, or transfer duty, which is a tax imposed by the state government in each state on the transfer of ownership of property. When you purchase a property you are liable for its payment, the rate of which is calculated on the purchase price of the property.
There are concessions available to the amount of stamp duty payable, such as the home, or first home concession, however when you purchase a property for investment purposes you are required to pay the full stamp duty rate.
To give you a better idea of the stamp, or transfer duty you will be liable to pay on the purchase of an investment property, our conveyancing solicitors have put together the table below, highlighting the estimated amounts for various purchase prices.
