If the home is brand new, you must pay 5% GST on top of the purchase price. Option 2: Victoria (Australia) Title: Beyond the Deposit: Navigating Stamp Duty in VIC
This is usually the largest closing cost. It follows a tiered structure: 1% on the first $200,000. 2% on the portion between $200,001 and $2,000,000. 3% on the portion over $2,000,000. Example: A $1,000,000 home triggers $18,000 in PTT. PTT Exemptions: house buying costs victoria
Full exemption up to $835,000 , with partial relief up to $860,000. Newly Built Homes: Full exemption up to $1,100,000 . If the home is brand new, you must
Expect to pay between $1,500 and $2,500 for a lawyer or notary to handle the title transfer. 2% on the portion between $200,001 and $2,000,000
In Victoria, BC , the "hidden" costs typically range from of the purchase price, excluding your down payment.