Do you really understand the tax policy when buying a house in Australia?

As we all know, since 20 16, Australia has strictly controlled the purchase of houses by overseas buyers and introduced a series of measures, such as increasing the extra stamp duty of overseas people and tightening the loan policy.

However, in the past year, under the slogan of "global asset allocation", although China people's enthusiasm for buying a house has been slightly restrained under strict control, it is still the main force of Australian real estate investment.

As the saying goes, "there are policies at the top and countermeasures at the bottom", even if a series of control measures are introduced, people who want to invest can find suitable methods. For example, through loans from some financial institutions.

But is it really so convenient and cost-effective to go through these financial institutions? Let's settle the accounts first.

one

First of all, let's talk about the taxes that need to be paid when buying a house in Australia.

The most basic tax is stamp duty.

In Australia, whether local or overseas, all land transfers or real estate sales are subject to stamp duty.

The calculation method of stamp duty varies from state to state in Australia, which is generally between 4% and 5% of the house price.

Why are the stamp tax collection points different in different States?

Because the Australian federal government does not collect stamp duty, and stamp duty is collected by state and territory governments, stamp duty is generally based on two factors-the market value of the property or the sales price of the property.

Next, let's look at the calculation methods of stamp duty in several major Chinese-funded cities.

Sydney, New South Wales 1

Real estate price

stamp tax

0- 14000 Australian dollars

1.25%

14000-30000 Australian dollars

The part exceeding 14000 Australian dollars * 1.5%+ 175 Australian dollars.

3000 1-80000 Australian dollars

Part exceeding 30,000 Australian dollars * 1.75%+4 15 Australian dollars.

80,00 00 1-30/-300,000 Australian dollars

The part exceeding 80,000 Australian dollars * 3.5%+ 1.290 Australian dollars.

300,001-1ten thousand Australian dollars

More than 300,000 Australian dollars * 4.5%+8,990 Australian dollars.

More than 6,543.8+0,000 Australian dollars.

More than 654.38+00,000 Australian dollars * 5.5%+40,490 Australian dollars.

2. Melbourne-Victoria

Real estate price

stamp tax

0-25,000 Australian dollars

1.4%

25,000-130,000 Australian dollars

More than 25,000 Australian dollars *2.4%+350 Australian dollars.

13000 1-960000 Australian dollars

The part exceeding 6,543,800+0,300 Australian dollars * 6%+2,870 Australian dollars.

More than 960,000 Australian dollars

5.5%

3. Brisbane-Queensland

Real estate price

stamp tax

Less than 5,000 Australian dollars

no

5,000-75,000 Australian dollars

More than 5000 Australian dollars * 1.5%

75,000-540,000 Australian dollars

The part exceeding 75,000 Australian dollars *3.5%+ 1050 Australian dollars.

540,000-1 10,000 Australian dollars

The part exceeding 540,000 Australian dollars *4.5%+ 17325 Australian dollars.

More than 6,543.8+0,000 Australian dollars.

Excess1100,000 Australian dollars * 5.75%+38,025 Australian dollars.

In these three cities, let's take a property of 800,000 Australian dollars as an example.

In New South Wales, stamp duty payable is

(800,000-300,000) * 4.5%+8990 = 3 1490 Australian dollars

In Victoria, the stamp duty payable is

(800,000-130,000) * 6%+2,870 = 43,070 Australian dollars.

In Queensland, the stamp duty payable is

(800,000-540,000) * 4.5%+17325 = 29,025 Australian dollars

In addition, since July 1 and July/20 16, in addition to the standard stamp duty, the additional stamp duty rates have been raised one after another, with NSW being 4%, Victoria being 7% and Queensland being 3%.

Or take the property of A800,000 just now as an example.

In Sydney, you need to pay an extra 32,000 Australian dollars.

In Melbourne, you need to pay 56,000 Australian dollars.

In Brisbane, you have to pay 24,000 Australian dollars.

Do you think this is over? No, no, no.

Because overseas people are not allowed to buy second-hand houses in Australia, all people who buy new properties still have to pay 5,000 Australian dollars FIRB, as well as legal fees, housing inspection fees, municipal fees, property fees, land taxes, housing insurance and other follow-up expenses. , ranging from 4000 Australian dollars to 65438 Australian dollars+0,000 Australian dollars according to the nature of the property.

two

After talking about taxes, let's talk about loans.

Before April 20 16, overseas buyers bought houses in Australia, and loans were never a problem. However, since 2065438+April 2006, ANZ and Westpac have discovered that hundreds of China investors have provided false materials in the process of applying for housing loans from overseas buyers.

As a result, Australia's major banks have tightened their overseas income loan channels.

Now in Australia, unless you have a bank-approved visa and have local income, it is almost impossible to borrow money from major banks in Australia.

So is there any other way besides Australian local banks?

The answer is yes.

However, you must be calm and don't be like me. When I heard it, I was filled with joy and felt that my investment prospects were bright.

Again, let's calculate the cost first.

At present, mainly some non-Australian international banks and some private equity funds can provide loans to overseas investors who buy houses in Australia.

Generally speaking, there are two kinds of products:

Repay the principal and interest in full

With a term of 30 years, you can generally borrow 60% of the bank's valuation, but the interest is very high, 6.95% or 7%.

Take the property of 800,000 Australian dollars as an example, and the monthly repayment is about 3,300 Australian dollars. In addition, there are different fees such as application fee (0.66%* loan amount), service fee, appraisal fee, lawyer's fee, annual fee and risk fee (0.85%* loan amount), which add up to about 20,000 Australian dollars.

Pay interest only

The other can also borrow 60% of the bank's valuation of the house for a period of 3 years and pay it off in one lump sum after 3 years. The monthly interest rate is 7.99% (usury), and the early service fee and various fees in the later period are slightly cheaper than the first product, adding up to about 15000 Australian dollars.

Then, the conclusion came out. In addition to the house payment, the 800,000 Australian dollars house needs to be thrown in another 400,000 RMB-700,000 RMB! ! !

Surprise!

three

Above, the conclusion emphasizes two points.

1, please ignore local tyrants, because many local tyrants buy houses in full at one time, and hundreds of thousands of RMB are really not a problem.

2. It's not that we don't support overseas home investment. Australia's current real estate market is still showing a sustained and stable upward trend. If you can invest in good areas and good projects, the value of real estate appreciation will of course be much greater than the previous expenditure.

I just want to remind the majority of middle-class investors that before investing in buying a house, they must be clear about the previous investment, and don't listen to others saying that this project is good and the loan is no problem.

After all, everyone's money is hard earned, not blown by the wind.