Stamp Duty is a tax that almost everyone across generations and countries has known to exist. Stamp duty in Australia is levied by the Australian State and Territory governments. Many mistake for the federal government of Australia to levy the stamp duty however it is the responsibility of the states and territories to identify the series of transactions and documents which would attract the tax. Based on the jurisdictions that form part of these states and territories the amount of stamp duty also varies and so does the transactions, instruments or documents that draw the tax.
Some of the common transactions on which stamp duty is levied may include hire purchase agreements, insurance policies, the sale of shares and motor vehicle registration. However, the most common and famous type from the above is the transaction of real estate. An investment in real estate requires the individual to pay the stamp duty to its respective state government. Every state and territory has its own Office of State Revenues which is responsible for the collection of stamp duty. There are various factors which affect the amount of stamp duty which may include registration fees, transfer fees, amount of home loan and such other factors. When a real estate property is purchased or transferred from one person to another stamp duty accrues. The law has well defined areas where the individuals can benefit from such transaction. Another factor which plays a vital role in the determination of the stamp duty is the location of the property. Properties located at prime areas are bound to attract higher stamp duties as compared to properties at low profile areas.
Stamp Duty calculator is the most precise and accurate tool made for the calculation of stamp duty.
The software assists in the calculation of an exact amount which needs to be paid to the government agencies. The usage of this tool offers uniformity as one just needs to click on the right options. The device is equipped to tender detailed fee composition about the various payable fees that account for the stamp duty.
Billy Johan writes about stamp duty calculator for more info logon to http: www.stampdutycalculator.com.au
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