How Much Stamp Duty Do You Pay For A New Car?
If you are curious about how much stamp duty you will pay out on your new car, you will have to do a little figuring to get your answer.
The answer will depend on where you live and how much you intend to pay for the car. The stamp duty will vary depending on if you live in New South Wales, Queensland, South Australia, Victoria, Tasmania, or Western Australia.
It is important that you take the time to figure out what your stamp duty costs will be, in order to be sure that your total payment plan for the new car has enough cash in it to pay the stamp duty as well. You don’t want to pay for a new car only to find out that you don’t have enough to pay the stamp duty.
New South Wales Stamp Duties
If you live in New South Wales, you can expect to pay a stamp duty of 3% for a new car with a price tag under $44,999. If your new car will cost $45,000 or more, you can expect to pay the 3% stamp duty for the first $45,000 plus 5% for the amount total above $45,000. That is $3 for every $100 spend up to $45,000 and $5 for every $100 spend after that amount.
Queensland And South Australia Stamp Duties
If you live in Queensland, you will pay only 2% in stamp duties for any new car, regardless of what the price tag on the car is. If you are purchasing a used car, then the stamp duty will be charged for amount paid or the market value, whichever is higher. The stamp duty differs in South Australia considerably.
If your car price is less than $1000, the stamp duty will be 1%, with a $5 minimum. If the car costs between $1001 and $2000, you can expect to pay a $10 stamp tax plus 2% on the amount over $1000. This stamp tax will raise to $30 plus 3% on the amount over $2000, if the new car is priced between $2001 and $3000. Any car over the price of $3001 will cost you $60 plus 4% for the amount over $3000.
Victoria, Tasmania And Western Australia Stamp Duties
In Victoria, a car worth $57,009 or less will have a stamp duty of 2.5% and a car over $57,009 will have a stamp duty of 5%. Buy a car in Tasmania for less than $600 and the duty will be $20, between $600 and $35,000 will be 3%, between $35,000 and $40,000 will be $1050 plus 11% for the amount above $35,000 and any car in Tasmania over $40,001 will cost you a stamp tax of 4%. In Western Australia a car worth $45,001 or more will charge you a stamp duty of 6.5%, $45,000 to $20,001 will cost 2.75% plus a sliding scale addition and any car worth less than $20,000 will have a stamp duty of 2.75%.
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