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Ok, first things first. Stamp duty is basically a land transfer tax on all real estate purchases in not just South Australia, but across the country. The state of purchase, property price, and location can all factor into how much stamp duty you’ll be required to pay. Like other taxes, the funds usually go towards state infrastructure projects and services. Also, it’s not an ‘ongoing’ tax. You only pay stamp duty once per property at the time of purchase, usually within 30 days of settlement. So, when budgeting, it’s just an initial outlay, not an ongoing addition to your mortgage.
You’re probably more familiar with the term ‘stamp duty’. ‘Land transfer duty’ is the same thing, but perhaps a clearer term for the one-off payment relating to the transfer of land. It can also be referred to as ‘transfer duty’ for this reason.
Don’t stress. The Stamp Duty Calculator SA is super easy to use. All you need to do is enter some simple info and it does all the hard work for you.
Once all your info is entered, you’ll get a breakdown of not just the stamp duty estimate but also the possible mortgage registration fee and transfer fee. If you’re eligible for any government concessions, you’ll also be notified. This might include any grants like the First Home Owner Grant. This info can be handy to have when budgeting, as these bits and pieces can often be forgotten while looking for a home and sorting out your mortgage.
You should always use these calculators as a guide rather than as fact. The true costs will come from the state government, but the calculator does its best to give you as accurate an answer as possible. Always check with the relevant state bodies for the final amount. If the information entered is accurate in regards to the value of the property, the location, and property type, you should get a fairly reliable response.
We’ve listed a few factors already that can impact the cost of stamp duty, such as location and property price. Depending on your circumstances, there could be some other factors that affect the cost of stamp duty in SA.
As mentioned earlier, the Stamp Duty Calculator SA will also display some other expenses.
There are a few instances where you may not be required to pay stamp duty in South Australia. For example, exemptions may include:
Government Duty Charges are generally different when you’re buying an investment property as opposed to a home you’re going to live in. However, in South Australia, this currently doesn’t apply.
If you’re buying a home, you may also be on the lookout for the home loan provider that suits you. We’ve partnered with Lendi to help you compare a range of home loans from 35+ lenders.
Last updated: 23/06/2021