this post was submitted on 07 Aug 2024
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In Australia we lose about six months wages to 'stamp duty' if we move. Better to stick with the oversized shell.
Can you explain for an American?
It's a tax on buying a house.
Stamp duty makes it sound like it's what happened to them because they didn't kick the brits out over the stamp act.
Not fully as I don't really understand it.
https://www.revenue.nsw.gov.au/taxes-duties-levies-royalties/transfer-duty
The calculator on that page says I would owe them $17k if I purchase a $500k property.
wat