From memory, (so don't quote me chapter and verse, on this one), my Western Australia stamp duty fee, was around $4,000 on a $60,000 second hand motorhome, in 2014
Be interesting to see, what others in other states, pay
In NSW on property you can do a title swap. An example if you & partner each had a property in their own name you can add each other's name to their title & remove the original name & pay stamp duty on the difference in value.
A couple may have 2 properties in both names, so it maybe useful to have one name on either property.
Loopholes everywhere for the people in the know!
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Procrastination, mankind's greatest labour saving device!
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Pay over $100k then you the luxury vehicle surcharge, 3% on top from memory.
The state governments charge stamp duty on the sum of the item and the GST. They are double dipping charging stamp duty on GST.
Check your insurance renewals and you will see.
The federal government adds fuel excise to fuel then charges GST to the total cost. So we are paying GST on a tax, costing us an extra 4.16 cents for every liter of fuel we buy.
In our excitement buying our first Motorhome, we did not think of the Stamp duty on transfer as we had not purchased a second hand vehicle in many years.
Perhaps all vehicles price should be displayed with "+ on road costs " ( ours wasn't) However we are happy with our purchase and the extra $3700 may have put us off our purchase, had we known.
Taxes, levies, duties etc etc etc. It's just as well our political leaders spend the money so efficiently!! (not)
Probably why we are $570b in debt & soon $1t. A $5b so called surplus is a little meaningless.
Nobody seems too keen on paying taxes,but the Govt has to get money from somewhere if they are to continue welfare payments of over $500 million EVERY DAY! More and more "Gimmees" but fewer and fewer tax payers.Just saying. Cheers
I pay my taxes every year, never once missing it, it has been difficult some years as I had to pay tax in advance for expected income. Not easy when things go up & down, but the irony is you do learn not to spend money as you will need it for tax next year plus the government's estimated increase of your income.
Stamp Duty is one of the most unstable taxes. It makes it very difficult for government's to plan long term. But then governments are only interested in the now. Governments are better of with an averaged levy each year to flatten peaks & troughs over the years.
In is why ACT is gradually moving to an annual property levy instead of Stamp Duty. This helps in other ways like if you move job it will be more cost effective to buy a home near your new job. Not for everyone but it solves many problems.
Rather than Stamp Duty on a car, average a levy over say the first 5 to 8 years on rego. It would stablise revenue & make it a bit cheaper for up front purchasing costs.
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Procrastination, mankind's greatest labour saving device!
50L custom fuel rack 6x20W 100/20mppt 4x26Ah gel 28L super insulated fridge TPMS 3 ARB compressors heatsink fan cooled 4L tank aftercooler Air/water OCD cleaning 4 stage car acoustic insulation.
The issue I have with Annual Property Levy is that I don't intend to move anywhere soon, I am retired and have paid a substantial amount of Stamp Duty to Chairman Dan to live where I am.
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"life is too short to spend it with people who suck the happiness out of you"
We live in two & let a third & our next move is to be barbecued. We still don't have an issue of an annual levy, we pay that anyway with our three Unit levies. In ACT it is a twenty year phase in.
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Procrastination, mankind's greatest labour saving device!
50L custom fuel rack 6x20W 100/20mppt 4x26Ah gel 28L super insulated fridge TPMS 3 ARB compressors heatsink fan cooled 4L tank aftercooler Air/water OCD cleaning 4 stage car acoustic insulation.
