One of the biggest expenses to purchasing a property in NSW is the transfer duty that comes with it.
There is no set fee for transfer duty. In NSW it’s calculated on the purchase price of the property.
There is a three month window for it to be paid, meaning transfer duty must be paid within three months of settlement.
Transfer duty isn’t cheap – Usually running in the tens of thousands for a property purchase of $1,000,000. However, for a more accurate indication of duty payable, visit the NSW government revenue website (revenue.nsw.gov.au) to access the transfer duty calculator.
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This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
