Guest the terry's

Stamp Duty.

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    Guest the terry's

    Hi guys, feeling a bit dense tonight, trying to find out what stamp duty is payable on SA homes, you know the levels etc upto $$$ is 1% etc etc etc. Trying to work a few figures out.

     

    Also, when you have a new home built apart from building costs, land cost and the proverbial stamp duty is there anything else to pay??

     

    Thanks,

     

    Helenx:notworthy:

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    Guest the terry's

    Hi Howard, thanks for that and will indeed look you up. Have I got this right that we would get $4,000 plus $7,000 = $11,000 (as currently laid out) or am I misreading it.

     

    Cheers,

     

    Helenx

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    Guest Jim Scott

    For properties with a market value up to $400,000 you would receive $14,500 currently. This represents:

    $7,000 usual Federal Grant (no sign of this discontinuing)

    $3,500 additional "Boost" Grant (introduced by the Federal Government to combat the GFC), and ceases from 1st Jan 2010.

    $4,000 SA Govt "Bonus" Grant (this phases out at a rate of $8 per $100 in excess of $400,000 market value, no sign of this discontinuing).

     

    Market value for established dwellings is normally the contract price.

    If building, it's the sum of the building contract + land value at the time the building contract is made.

     

    So far as other costs are concerned:

    - finishing expenses not included in the contract. Can range from carpets, curtains, concrete driveways/paths, landscaping etc.

    - the cost of your living accomodation whilst building, i.e. rent.

    - you pay interest on any loan required to build the property, normally structured on an interest only basis payable monthly on the balance owing.

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