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Stamp Duty Calculator

Stamp Duty Calculator

To Calculate:

£

Purchase Price

$

Purchase Price

State or Territory

First Time Buyer

Property type

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When you decided to buy a property in the UK and Northern Ireland, you may have to pay stamp duty land tax (SDLT), even if you are a non-resident. For the ease, the team of calculator-online specifically designed an interactive stamp calculator UK through which you can readily understand what you maybe need to pay to the HMRC (Her Majesty’s Revenue and Customs) when buying a house in the UK.

Additionally, apart from UK, our sdlt calculator helps you to calculate stamp duty in Australian states like (NSW), (VIC), (QLD), (WA), (SA), (ACT), (OSR), (NT), or (TAS).

Well, before knowing about this stamp duty land tax calculator, let’s start with the term of ‘Stamp Duty Land Tax (SDLT).

Stamp Duty Land Tax Uk:

Stamp Duty Land Tax (SDLT) or Stamp Duty is a well-known tax which was introduced in 2003, and typically payable on the purchase of land or property in the UK. In the United Kingdom (UK), all the property transactions with a value of 40,000 or more must be reported to the HM Revenue and Customs to get a Land Transaction Certificate from the Land Registry.

More specifically, SDLT is a government tax that is taken into account when buying a property. Generally, stamp duty can apply to any transfer of land/property and should be paid within 14 days of purchasing a home. Stamp duty only paid by an individual’s those buying a property. The above stamp duty calculator UK is a significant tool that helps you to understand how much SDLT you have to pay.

Basic Stamp Duty Rates and Thresholds (UK):

If an individual does not already have his/her own property in the UK or overseas, then the amount of stamp duty that is owed to the HM Revenue and Customs (HMRC) is decided by thresholds as follows:

  • Up to £125,000: 0%
  • Between £125,000 and £250,000: 2%
  • Between £250,000 and £925,0000: 5%
  • Between £925,000 and £1,500,000: 10%
  • Over £1,500,000: 12%

For the ease of stamp duty or SDLT calculations, you can utilize sdlt calculator.

Stamp Duty Calculator (UK & Australia):

The calculator-online provided an advanced stamp duty calculator that helps you to calculate the cost of stamp duty for both residential and commercial property purchases, anywhere in the UK. Also, this transfer duty calculator helps you in calculating the amount you may have to pay in the Australian States or Territory whether you are buying it to live-in, investment, or as vacant land. In short, the above duties and taxes calculator helps to determine SDLT in UK and Australia.

How To Use:

You can easily calculate stamp duty, read on the given step-by-step guide:

If You Are In The UK:

  • First of all, you have to select an option from the down-list of the given field of ‘To Calculate.’
  • Right after, you have to enter the purchase price of the property into the given field
  • Finally, hit the calculate button – the calculator shows total stamp duty, effective rate (%), taxable sum, and tax (breakdown) for a given values

If You Are In Australia:

  • Here first, you have to enter the purchase price of the property
  • Right after, you have to select the state/territory that you wish to purchase (there are 8 choices – NSW, ACT, NT, QLD, SA, TAS, VIC, WA)
  • Very next, you have to select option (Yes or No) to tell whether you are first time buyer or not
  • Then, you have to select the property type, there are 3 options (Live-in, investment, vacant Land)
  • Once done, then hit the calculate button – the calculator will show stamp duty on property, transfer fee, mortgage registration fee, and the total fees according to the given values

Factors That Impact Stamp Duty Value:

The amount that an individual pay as stamp duty can also be influenced by the given factors:

  • Age of The property – means, is it old or newly constructed
  • Location – means, is the property located in an urban, suburban or metropolitan area and rural
  • Age of owner – senior citizens can eligible for concessions as it depends on the state an individual reside
  • Gender of Owner – in certain states, women are given special subsides to encourage more women to become property owners
  • Property Purpose – means, is the property residential or commercial
  • Property Type – Property type also does matter, whether it is an apartment, floor space in a commercial building, independent villa, etc

How to Pay Stamp Duty?

Remember that, the government has taken various initiatives to make the SDLT easier. An individual can choose three different methods at the time of registering his/her property, these are:

Non-Judicial Stamp Paper:

Well, you can find this agreement on a non-judicial stamp paper that is signed by concerned parties. The paper has to be presented at the sub-registrar’s office within 4 months or it will lose its validity.

Online Payment:

It is another method that is only available in a few states, but it is one of the most convenient ways to pay stamp duty. An individual just have to visit to official state government website and pay the amount through an online transfer. Right after, an individual can be able to download receipt and forms and presented at the registrar’s office.

Franking:

Remember that the agreement for the payment of stamp duty can be printed on a blank paper, and then this paper can be submitted to the bank that is authorized to process it.

How is Stamp Duty Calculated?

The prior thing that you have to keep in mind that Stamp duty is not a fixed cost. You can calculate SD in two ways:

On The Total Value of The Property:

Well, this (SD) is determined on the value of the property, and then at the time of registering the property value will be considered. So for the ease, we highly recommended to register your property and also pay stamp duty as soon as you get possession of it. If an individual didn’t do so, then remember that the property value might appreciate and he/she will have to pay a much higher cost as stamp duty. However, Stamp Duty is a state tax, thus the exact amount also changes among several states. In general, SD rages from 3 to 10 % of the total property value.

On The Circle State:

In the second method, SD is calculated by fixing the percentage to the circle rate of the area. The circle rate is representing the value that is determined by the local authorities and is the least value that the property can be sold.
Keep in mind, the SD levied will be based on which of these two numbers is higher. If the property value is higher than the circle rate, then the SD will be determined against that.

What Are The 2019-2020 Stamp Duty Rates?

The freehold residential stamp (transfer) duty rates in England and Northern Ireland are given in the table below:

stamp duty rates 2019-2020

  • Remember that an additional property that an individual purchased less than £40k will attract 0% tax. And, for purchases from £40k to £125k, then the SDLT rate will be 3% on the full purchase price

Stamp Duty and First-Time Buyers:

If an individual has never bought/owned a property in the UK, then he is classed as a ‘first-time buyer.’ It means that, as of 22nd November 2017, he received an incredible allowance in order to buy his first property. The first-time buyer can use a simple stamp duty calculator 2017, for the ease of calculations of SDLT.

Well, there will no longer be any stamp duty land tax to pay on properties bought for less than amount £300,000, just for the first time buyers. If a property is bought by a first time buyer more than that value, then the first £300,000 will be exempt and after that 5% will be payable on the amount over £300,000.

Stamp Duty In NSW:

If you are buying a property in New South Wales (NSW), then enter the values into stamp duty calculator NSW to determine the taxes and duties that you would have to pay. Additionally, our OSR stamp duty calculator also works efficiently when you are decided to buying a property in New South Wales.

When is Stamp (Transfer) Duty Paid In NSW?

In New South Wales (NSW), an individual needs to pay a stamp (transfer) duty to the state’s revenue office no later than 3 months after the settlement day.

  • Purchases that made from $80,001-$300k: in such case $1,290 an individual will need to be paid, plus $3.50 for every $100 above $80k
  • Purchases that made from $300,001 to $1m: in such case $8,990 an individual will need to be paid, plus $4.50 for every $100 above $300k
  • Purchases that made over $1m: in such case $40,490 an individual will need to be paid plus $5.50 for every $100 above $1m
  • Residential purchases that made for over $3m: in such case $150,490 an individual will need to be paid, plus $7 for every $100 above $3m

Stamp Duty In VIC?

The stamp duty calculator vic (Victoria) helps to estimate of your duty costs of property that you are buying in Victoria.

When is Stamp (Transfer) Duty Paid In VIC?

SD in Victoria (VIC) is needed to be paid by the purchaser 30 days after the property is transferred.

  • Purchases that made from $440,001 to $550k: in such case $18,370 an individual will need to be paid, plus 6% of the dutiable value above $440k
  • Purchases that made from $550,001 to $960k: in such case $28,070 an individual will need to be paid, plus 6% of the dutiable value above $550k
  • Purchases that made over $960k: in such case, 5.5% of the dutiable value an individual will need to be paid

Stamp Duty In QLD?

You can able to calculate stamp duty in QLD (Queensland) using our advanced stamp duty calculator QLD, the calculation is based on the value of the property, and whether you are buying it to live in or just for an investment or vacant land.

When is Stamp (Transfer) Duty Paid In QLD?

Officially, SD is payable within 30 days of the transaction agreement (contract date). in QLD (Queensland).

However, extensions are available and even applied with the Queensland Treasury, so for a further query, you ought to talk to your solicitor.

  • Purchases that made from $75k to $540k: in such case $1,050 an individual will need to be paid, plus $3.50 for every $100 or part thereof which the value is above $75k
  • Purchases that made from $540k to $1m: in such case $17,325 an individual will need to be paid, plus $4.50 for every $100 or part thereof which the value is above $540k
  • Purchases that made for more than $1m: in such case $38,025 an individual will need to be paid, plus $5.75 for every $100 or part thereof which the value is above $1m

Stamp Duty In WA?

Well, unfold the question of how much stamp duty you will be paying overall on your home in WA (Western Australia) using the above efficient stamp duty calculator wa.

When is Stamp (Transfer) Duty Paid In WA?

Officially, the SD in Western Australia (QA) is payable within 2 months of the transaction agreement or contract date.

  • Purchases that made from $100,001 and $250k: in such case $2,090 an individual will need to be paid, plus $3.80 for every $100 or part thereof which the value is above $100k
  • Purchases that made from $250,001 and $500k: in such case $7,790 an individual will need to be paid, plus $4.75 for every $100 or part thereof which the value is above $250k
  • Purchases that made at $500,001 or over: in such case $19,665 an individual will need to be paid, plus $5.15 for every $100 or part thereof which the value is above $500k

Stamp Duty In SA?

The above stamp duty calculator sa (South Australia) is the ideal way to figure out exactly how much you might have to pay when you’ll be buying your home.

When is Stamp (Transfer) Duty Paid In SA?

Usually, the SD in South Australia (SA) needed to be paid on or before settlement day.

  • Purchases that will exceed $250k but no more than $300k: in such case $8,955 an individual will need to be paid, plus $4.75 for every $100 or part thereof which the value is above $250k
  • Purchases that will exceed to $300k but no more than $500k: in such case $11,330 an individual will need to be paid, plus $5 for every $100 or part thereof which the value is above $300k
  • Purchases that will exceed $500k: in such case $21,330 an individual will need to be paid, plus $5.50 for every $100 or part thereof which the value is above $500k

Stamp Duty In ACT?

If you are buying a land or property in ACT (Australian Capital Territory), then our stamp duty calculator act is an ultimate option for the ease of SDLT calculations.

When is Stamp (Transfer) Duty Paid In ACT?

Remember that the SD in Australian Capital Territory (ACT) is payable at the settlement date of your contract or agreement.
Well, the duty costs in ACT varying greatly, so for the ease you can enter the values in the above calculator to get an idea about your transfer duty rates.

Stamp Duty In NT:

The stamp duty calculator NT will allow you to know how the (Northern Territory) state factors stamp duty rates. You just have to fill the respective fields and hit the calculate button to get instant results.

When is Stamp (Transfer) Duty Paid In ACT?

Well, the SD in Northern Territory is payable within 60 days of the transaction agreement or contract date.

Similar to Australian Capital Territory, the NT duty rates are also greatly varying, so use the above calculator to get an idea about recent transfer rates according to Northern Territory.

Stamp Duty In TAS:

If you are in Tasmania (TAS) and decided to buy live-in, investment, or as vacant land, then use the stamp duty calculator tas to know your transfer duty rates according to your state.

  • Purchases that will exceed to $200k but no more than $375k: in such case $5,935 an individual will need to be paid, plus $4 for every $100 or part thereof which the value is above $200k
  • Purchases that will exceed $375k but no more than $725k: in such case $12,935 an individual will need to be paid, plus $4.25 for every $100 or part thereof which the value is above $375k
  • Purchases that are made over $725k: in such case $27,810 an individual will need to be paid, plus $4.50 for every $100 or part thereof which the value is above $725k

People Also Ask About:

What Stamp Duty Applies To?

As mentioned-earlier SD is a tax that state and territory governments charge for certain documents and transactions.

An individual need to pay (SD) for things like:

  • Motor vehicle registration and transfers
  • Insurance policies
  • Leases and Mortgages
  • Hire purchase agreements
  • Transfers of property (such as a business, real estate or certain shares)

The amount of SD that an individual has to pay depends on the type and value of his/her transaction.

Stamp Duty Concessions and Exemptions:

In some circumstances, an individual may be able to get a concession or exemption from paying stamp duty (SD). Remember that the rules are varying in different state/territory – So, an individual should have to check the government website according to state or territory.

Can I Reduce Stamp Duty?

As SD is only payable by an individual on the land purchase, removable fixtures and fittings, or chattels, including fridges, carpets and curtains, freestanding wardrobes are not subject to SDLT and can, therefore, can be subtracted from the total property price. Technically, everything ‘attached’ to property like light switches form part of the property and are subject to SDLT.

And, if a seller is willing to leave certain chattels, then an individual needs to pay a responsible amount between his self and the vendor and even subtract it from the agreed purchase price. Well, this can be executed by a good tax lawyer or conveyance.

What Properties Are Excluded From the (SD) For Second Homes?

There are only a few cases where an individual won’t have to pay the additional stamp duty rate, these are:

  • When an individual is buying the property that worth less than £40,000 then he/she is exempt
  • If an individual purchase a mobile home or houseboat, caravan regardless of how much he/she is paying for them
  • Anybody buying a property they intend to live in won’t pay the additional rate provided you have sold your existing property

 

Who Has to Pay Stamp Duty?

Everybody who is going to buy residential property (or getting a residential property as part of an exchange) in the UK will have to subject to Stamp Duty Land Tax rules. Remember that, there are no exemptions, nor personal allowances.

It means, even that UK non-residents also have to pay stamp duty.

Words By Calculator-Online:

The team of calculator-online specifically designed SDLT calculator to helps an individual who is planning to buy a property in the UK, Northern Ireland, and in the Australian States, this tool assists to understand what their stamp duty charges are likely to be.

Once an individual has paid SD and successfully registered his property, then finally he can call himself the owner of his new home! But before a move to the final step, an individual make sure that he or she is buying a home with a reliable builder – Good Luck!