Property Investor Report

Posted on May 3, 2007 by | 0 Comments

The impact of changing property laws

An article from the Jenman website.

Each state in Australia has its own property culture. The way contracts are issued and settled differs. The level of disclosure required by sellers and agents varies. Lots of differences, lots of changes and lots of confusion.

The costs of buying property also change in each state. A $400,000 purchase will cost you $6,500 in stamp duty in Queensland, $13,500 in Tasmania, $16,000 in South Australia and a scary $20,000 in Victoria. The Northern Territory, the ACT and Victoria have no stamp duty on mortgages, but the other states have varying imposts.

To make things harder, state and federal governments keep changing laws. It’s hard to keep up.

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