I am curious to know if I am right in my calculation for the stamp duty in Queensland for a first PPOR.
I believe it is 'nil' up to $500K but it seems it rises very quickly after that and by the time you reach what seems the upper limit for any concession of $550K the stamp duty is approx $10K (so 20 cents in the dollar - highway robbery ).
Does this sound right?
And I guess that means first home buyers need to try to stay under $500K or there is not much benefit.
I believe it is 'nil' up to $500K but it seems it rises very quickly after that and by the time you reach what seems the upper limit for any concession of $550K the stamp duty is approx $10K (so 20 cents in the dollar - highway robbery ).
Does this sound right?
And I guess that means first home buyers need to try to stay under $500K or there is not much benefit.