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Taxes on property (real estate)
Posted: Sat Jul 30, 2011 5:27 am
by spetz
Hi guys,
Can someone tell me what the taxes and rates are like on property in Australia, and more specifically in Canberra?
I am interested in house rates for a house worth roughly $1m and for apartments which are rented out, each worth roughly $300k
Thanks
Re: Taxes on property (real estate)
Posted: Sat Jul 30, 2011 8:48 am
by Bennoz
Taxes? As in Stamp Duty?? In the ACT, for a house at a Mil, its $49,250 plus $6.75 per $100 or part thereof by which the value exceeds $1,000,000.
Rates you'll need a Canberra'n to tell you. I pay about $1200 a year in Western Syd.
For apartments you'll also need to find out what the quarterly strata fees are too. Varies from block to block. My folks live in an apartment in Northbridge & that costs them $700 a quaters (farking expensive, but thats Northbridge for ya.)
Re: Taxes on property (real estate)
Posted: Sat Jul 30, 2011 6:09 pm
by spetz
I was reading that it was 0.08% of the value of the house, but not sure if that is the purchased value or the unimproved value.
For a $1m house paying $8,000 per year sounds like too much...
Can I ask the value of your house Bennoz?
Re: Taxes on property (real estate)
Posted: Sat Jul 30, 2011 9:02 pm
by topgun
spetz wrote:Can I ask the value of your house Bennoz?
Bens place
http://www.dailymail.co.uk/news/article ... rooms.html
Re: Taxes on property (real estate)
Posted: Sun Jul 31, 2011 8:21 am
by Supplanter
No, this is it:
Re: Taxes on property (real estate)
Posted: Sun Jul 31, 2011 8:39 am
by Bennoz
Spose mine would be somewhere between $525-$550k