We’ve Got You Covered
When it comes to buying or selling one of life’s biggest assets, it goes without saying that you want a smooth and successful process. The Conveyancing Team at Coutts has over 25 years of experience in the stress-free, seamless buying & selling of properties across New South Wales and interstate.
Adriana Care
Managing Partner
Step 1: Talk To Us
Reach out to Coutts Lawyers via our website, phone, or in person for a consultation on how we can help you sell your property stress-free!
Step 2: Get a Quote
No Bill Shock. Know exactly what your stress-free conveyancing will cost from start to finish.
Step 3: We Get to Work. You Relax!
At Coutts, our objective is the seamless sale of your property, stress-free! We’ll get to work, you organise the furniture truck and let us take care of settlement.
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Understanding Transfer Duty
When purchasing a property in NSW (other than first home buyers who may be exempt) you are required to pay transfer duty to Revenue NSW. To assist you in calculating these costs, the table below provides a rough estimate of the transfer duty on the property purchase, this is based on NSW property.
As of 1st July 2023
| Purchase Price | Stamp Duty | Purchase Price | Stamp Duty |
|---|---|---|---|
| $300,000 | $8,880 | $750,000 | $28,860 |
| $350,000 | $10,860 | $800,000 | $31,110 |
| $400,000 | $13,110 | $850,000 | $33,360 |
| $450,000 | $15,360 | $900,000 | $35,610 |
| $500,000 | $17,610 | $950,000 | $37,860 |
| $550,000 | $19,860 | $1,000,000 | $40,110 |
| $600,000 | $22,110 | $1,050,000 | $42,360 |
| $650,000 | $24,360 | $1,100,000 | $44,720 |
| $700,000 | $26,610 | $1,150,000 | $47,470 |
Conveyancing Help You Can Trust
Introducing Adriana
Your Experienced Lawyer
Meet Adriana, The Managing Partner at Coutts Lawyers & Conveyancers, and the head of our esteemed Property and Commercial Law teams. With over twenty years of expertise, Adriana’s profound experience has fostered unwavering trust among her clients and solidified her esteemed standing within the Macarthur community. Her stature as an authority in Property and Commercial law is well-established.
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Transfer Duty FAQ’s
Generally speaking, the answer is no – Transfer Duty cannot be deferred or delayed and is required to be paid either at settlement or within three months from the date of exchange, whichever occurs first. In saying this there are some instances where Transfer Duty can be deferred. Those instances include the purchase of an owner-occupied off the plan property.
First home buyers in NSW may be eligible for exemptions or concessions on Transfer Duty under specific conditions, substantially reducing the costs associated with purchasing a property.
Yes, Transfer Duty can be calculated using the online calculator provided by Revenue NSW, offering a convenient way to estimate your payable amount based on the value of the property.
Yes, Transfer Duty was formerly called Stamp Duty. It is a mandatory tax imposed on property transactions in NSW.
Late payment of Transfer Duty can incur interest and penalties. It is crucial to ensure timely payment to avoid additional costs and legal complications.
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