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.
Paying Transfer Duty - How it Varies State to State:
With the recent news of skyrocketing property prices there comes another associated rising cost in the form of stamp, or transfer duty payable on the property. Transfer duty is payable on the price of the property purchased, which means that an increase in prices brings a corresponding increase in transfer duty.
Buying a Property - The Payment of Transfer Duty:
Deciding to enter the property market and purchase a property is a big decision and one that does carry with it quite a few upfront costs. One of these costs that is often overlooked by buyers is transfer duty, which is a taxed imposed by the Queensland Government on the transfer of property.