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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44373
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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Hullo Pearl, our daughter in Victoria is about to purchase a

Customer Question

hullo Pearl, our daughter in Victoria is about to purchase a property and would like to know what she will be taxed for on an amount of $460.000?
JA: What state are you in? It matters because laws vary by location.
Customer: She is in Victoria and the place she is looking at is in Hilldene, Victoria.
JA: Has anything been filed or reported?
Customer: No nothing has been filed as yet. The house/pest inspection is being done on Mon. 6th Feb which if ok, the deposit will be paid by Thursday next week.
JA: Anything else you want the lawyer to know before I connect you?
Customer: I think that that is about it. We, her parents are in South Africa, so we are helping her towards the costs of most of the stuff and would like to know what taxes are up front Thank you Pearl
Submitted: 6 months ago.
Category: Australia Law
Expert:  Leon replied 6 months ago.

My name is ***** ***** I am a NSW Solicitor. I will do my best to assist you with your question.

Expert:  Leon replied 6 months ago.

Good Morning.

She will pay stamp duty on the purchase price.

If she is planning on living in it and it is her first home then the stamp duty is $9,785.00

If it is not her fist home the stamp duty is $19,570.00

If it is an investment the the stamp duty is $22,670.00

Here is the link you can use to calculate it yourself.

https://www.reducemyloan.com.au/stamp-duty-calculator/?gclid=CKOj-pDY9NECFQwjvQodNgoENQ#calc

I hope this makes sense and is of assistance. If there is nothing further

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Regards

Leon