What taxes are included in Australian real estate and what is negative tax deduction?

For China residents who are considering buying a house in Australia, do you know what taxes and fees they need to pay for buying Australian real estate? In the whole purchase process, taxes and fees will be involved in many places. As for what they are, if you don't know, let me tell you what taxes and fees you need to pay for buying Australian real estate.

What taxes and fees should I pay for buying Australian real estate?

It is also essential to pay taxes on buying real estate in Australia. From buying a house, raising a house to selling a house, every process will be related to paying taxes. What taxes and fees will be paid in each link? Let's explain them one by one.

The first is the taxes and fees that need to be paid for buying a house.

There are stamp duty, lawyer's fee, FIRB application fee, loan application fee and so on. The cost is roughly as follows: stamp duty varies in different regions, such as Sydney 4%, Victoria 3.5% and Brisbane 3.2%. The lawyer's fee is not exactly the same, about 1350- 1650 Australian dollars. The FIRB application fee is 5,000 Australian dollars when the house price is ≤ 1 10,000 Australian dollars. The application fee is 10000 Australian dollars when the house price is less than or equal to 2 million Australian dollars; When the house price is more than 2 million Australian dollars, the application fee will increase by 654.38+00000 per1million price range. The loan application fee is 600-900 Australian dollars.

Secondly, the taxes and fees that need to be paid in the process of raising a house.

The taxes and fees involved in the process of raising a house are: municipal tax, property fee, sewage fee, rent management fee and house insurance fee, which are basically paid every year. The specific expenses are roughly as follows: municipal tax 1000 Australian dollars per year, property management fee 1000-2000 Australian dollars per year, sewage discharge fee of 900 Australian dollars per year, 5%-6% rental management fee, and 300-700 Australian dollars per year in home insurance.

Finally, the taxes and fees that need to be paid for selling a house.

If you are a seller, you also need to pay some taxes, mainly value-added tax. The so-called real estate value-added tax refers to the tax levied on the difference between the selling price and the cost price of real estate. The value-added part will be 50% within one year and 30% after one year, but there will be various tax credit policies, so the value-added tax will be reduced to 10%- 15% of the value-added part, and the value-added amount will be less than 25,000 Australian dollars.

Now you should know what taxes and fees you need to pay for buying Australian real estate. If in doubt, you can find out through online consultation. There will be professional consultants to answer your questions about buying a house in Australia and a series of questions involved in the process of buying a house.

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