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Urgent Help - FHOG Stamp Duty

Discussion in 'Real Estate' started by Zman, 6th Sep, 2008.

  1. Zman

    Zman Well-Known Member

    Joined:
    3rd Jul, 2007
    Posts:
    54
    Location:
    Sydney
    I just signed for a 500k property.

    On the FHOG website it doesnt really state clearly if 500k is $0 stamp duty or if it has to below $500k (499,999).

    Can anyone confirm if the exemption is including $500,000?

    Cheers.
     
  2. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi Zman,

    I was a bit surprised that your mortgage broker wasn't able to help you.
    Have a read of http://www.osr.nsw.gov.au/lib/doc/factsheets/fs_fhb1.pdf
    Don't worry too much, between $500k and $600k it is a tiered scale.

    On the bottom of Page 2, it shows the formula and your result will show you how much stamp duty you need to pay. Once you calculate it, I don't think you'll be too worried.

    Cheers,

    Dan
     
  3. Zman

    Zman Well-Known Member

    Joined:
    3rd Jul, 2007
    Posts:
    54
    Location:
    Sydney
    LOL Thanks very much Dan ;)