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Costs to consider when buying property in Australia

Did you know there is a 3% stamp duty surcharge in Victoria for all foreign investors?

If you’re buying your first investment property in Australia, you need to consider all the costs, duties and tax implications that come with it. Knowing the upfront and ongoing costs can help you work out what to look for in a property and budget properly.

The NAB Australia Property Investment Guide gives you a simple overview of some key costs like and Australian tax obligations you may need to consider before you buy property in Australia:

  • Tax considerations – Find out if rental income subject to income tax in Australia for non-resident investors.
  • Tax deductions – What are you entitled to claim as deductions
  • Australia Tax rates – Find out the current tax rates for individuals and corporate investors.
  • Important taxes and duties to consider – There are other costs like valuation costs, council rates, insurance and land tax you don’t want to miss out.
  • New Taxes – Read more about the new 3% Stamp duty surcharge in Victoria and the new withholding tax kicking off in July 2016.
  • Some other important taxes, duties & costs to consider when buying property in Australia.
  • Stamp Duty – Find out who levy’s the stamp duty and the current stamp duty rates in each state.

 

 

 

For full analysis, download report:

Residential and Commercial Properties: Costs to consider when buying property in Australia

First Published October 2015

 

 

 

 

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