Stamp Duty

I am currently looking to buy a house for the first time in nearly twenty years. I remember having to pay stamp duty back then but WOW! What a shock on today's rates. I am up for nearly $30,000. This has to be the biggest ripoff, state governments are receiving billions annually from this obvious grab for cash.

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  • Yep,it is a gold plated rubber stamp,and the ink is made from fermented,then distilled unicorn spoof,hence the cost.Out of interest,is there GST applied to that?If so another example of a tax on a tax,something that the GST gets around by calling the other tax something clever like levy,excise or stamp duty.

  • Not sure at this point pissed off to find out.
  • I am going to assume you are in NSW. From memory Stamp duty is the biggest revenue raiser for the NSW gov.

    • That's right.  It allows the NSW Govt to subsidise the other states.

  • I agree brad!

    I just bought a second house and I was surprised to find out how much it was compared to when I bought my other home 10 years ago.

    I had to pay very similar and there are plenty of other avenues to lose money when purchasing a house too.

    The house price and interest is one thing but it's all the conveyance fees and the like added to it which is frustrating.

    • Yeh, I am not winging about paying my share, but the amount they are asking for is excessive in my eyes. My wife and I earn a good income, we have 4 children receive no goverment help. I think we are getting rapped on this one.
  • Just remember Little Johnny Howard promise to wipe out state taxes by introducing the GST.Again the only winners out of that exercise were very high income earners, businesses for paying less payroll tax. 

  • How much is land in Sydney at the moment! Remember years ago your house would cost a few times more than the land it is on. Now a regular block of land is equal to the cost of the building.
  • Very interesting, Brett.  Thanks.

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