Guide to Motor Vehicle Stamp Duty When Buying A Car
Buying a car can be an exciting time. You may have done all the necessary research to be sure you have the best car that will suit your needs. Once you have your car you may not realise how much duty or tax is assessed on your car. Here is a guide that will give you some information to help you to know what to pay.
Understanding The Vehicle Stamp Duty
This is a tax that is placed on specific documents and purchases. It is assessed by the state government and is often called ‘government charges’. Some common transactions that will receive this tax are the buying of property, the purchase of vehicles and also insurance. If you are an independent contractor, some of these arrangements can also be taxed as well as some financial contracts such as insurance policies.
The rates in which the states can charge the duty or tax varies from state to state.
What Are The Rates In My State?
Here is a list of the some of the rates of the Stamp Duty on vehicles in the following states:
Victoria
- New cars (passenger) that cost between $0 – $57,009 will be charged $5 for each $200 of the value of the vehicle
- New cars (passenger) that cost above $57,009 will be charged $10 for each $200 for the value of the vehicle
- New (non-passenger) cars – $5 for each $200 of the value of the vehicle
- Any other case including used cars – $8 for each $200 of the value of the vehicle
New South Wales
- Any car that has a value up to $45,000 will be charged $3 for each $200 of the value of the car
- Any car that is above $45,000 will be charged $1,350 in addition to $5 for each $100 of the value of the car beyond $45,000
Queensland
- Any hybrid and/or electric cars will be charged $2 for each $100 of the value of the vehicle
- All cars that have 1 – 4 cylinders will be charged $3 for each $100 of the value of the car
- All cars that have 5 or 6 cylinders or have 3 rotors will be charged $3.50 for each $100 of the value of the car
- All cars with 7 cylinders and above will be charged $4 for each $100 of the value of the car
South Australia
- All cars up to $1,000 will be charged $1 for each $100 of the value of the car. There is a minimum charge of $5.
- All cars above $1,000 – $2,000 will be charged $10 as a minimum charge and then $2 for each $100 of the value of the car.
- All cars above $2,000 to $3,000 will be charged $30 as a minimum charge and then $3 for every $100 of the value of the car.
- All cars that are $3,000 and above will be charged $60 as a minimum charge and then $4 for every $100 of the value of the car.
As you can see, the rates are quite different depending on the state in which you reside. If you are unsure about the rates, contact the Revenue’s Office in your state. They will be able to give you complete information on what you will need to pay for your vehicle stamp duty.
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