How to understand that Australian housing loans only pay interest but not principal?

Australian real estate has always been recognized as the most valuable investment project by overseas investors, and won the hearts of buyers because of its geographical location, economic system and superior living environment. Australian real estate can be passed down as permanent property without inheritance tax.

Property classification

Location: Western Australia, Northern Territory, South Australia, Queensland, New South Wales and Tasmania.

Major cities: Sydney, Melbourne, Brisbane, Gold Coast, Adelaide, Perth, Darwin.

Types of houses: single-family villas, townhouses and luxury apartments.

real estate tax

When buying a house in Australia, it is inevitable to pay fees, mainly in the following ways:

Stamp duty: a tax levied on the act of signing books and obtaining legally effective certificates in economic activities and economic exchanges.

Municipal tax: also called (municipal+water) tax. Why is there this water fee? Australia is short of water resources, so tap water can be directly drunk, which is equivalent to water conservancy construction tax.

Property management fees: land registration, water and electricity opening, investigation and transfer, water and electricity fees.

Attorney's fee: signing the contract requires a lawyer to accompany you all the way until the developer delivers the house.

Tips: The above information is for reference only.

Reply time: 2021-11-05. Please refer to the latest business changes announced by Ping An Bank in official website.