Selling Costs

[ABC123]

Hi all,

I am just trying to do some calculations to figure out what net profit I will have if I decide to sell a property. So after capital gains tax and real estate selling costs, etc.

I can get an accountant to do the capital gains tax calculations. Its just that I don't know what the other selling costs will be such as real estate agents fees/commission. The property is in Queensland.

I did try asking my local real estate agent but I couldn't get a straight answer.

 

[Collector]

Other cost involved in the sale of a property include:

Agents commission + advertising etc.
Solicitor cost
Rate adjustments
bank break fees

 

[wylie]

In Queensland, you can take the sale price, add $18,000 and divide the answer by 40 to get your commission, then add 10% GST.

 

[letitbe]

Other cost involved in the sale of a property include:

Agents commission + advertising etc.
Solicitor cost
Rate adjustments
bank break fees

Hi all

I got similar question - about to sell my block of land in Victoria, about 20 km from CBD.

Do I need to pay GST on top of the sale price?
What other costs, expenses should I take into account - don't want end up as a loss in the end. But is a loss consider as tax deductible?

TIA