Stamp duty.
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Thread: Stamp duty.

  1. #1
    Fellow Frogger! Filldebin's Avatar
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    Default Stamp duty.

    I just really wonder if Stamp Duty is still payable when buying second-hand cars? If so at what rate is it extracted and do all the states have it? I remember it being a real pain in Victoria. Has the GST affected this duty at all?
    In Sweden you don't pay Stamp Duty on second-hand cars, not even the GST equivalent, unless it is a business selling something to a private person of course.
    Phil

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  2. #2
    UFO
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    Well in NSW you pay 3% of the purchase price additional to the Govt via the RTA for the privilege of having purchased a car and keeping the economy running whether the car is new or second hand.
    Last edited by UFO; 9th September 2005 at 09:15 AM.
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    Administrator GreenBlood's Avatar
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    Quote Originally Posted by UFO
    Well in NSW you pay 2% of the purchase price additional to the Govt via the RTA for the privilege of having purchased a car and keeping the economy running whether the car is new or second hand.
    Same in Queensland, I think it actually suggests 2% of purchase price or market value whichever is the greater.

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    Tadpole
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    There is no GST on 2nd hand cars bought privately but through a dealer it's in there. Stamp duty is 4% in Vic up to about $50K or so I think, and then it's more. I've only ever paid 4%! On a new/dealer car you will pay stamp duty on the GST inclusive price. This means a tax on a tax. Don;t get me started on HECS and tax...

  5. #5
    Fellow Frogger!
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    Craig,

    Quote Originally Posted by UFO
    Well in NSW you pay 2% of the purchase price additional to the Govt via the RTA for the privilege of having purchased a car and keeping the economy running whether the car is new or second hand.
    It's worse than that. From the RTA site:

    Stamp duty is calculated at 3% of the market value up to $45,000 and 5% on the value over $45,000.

    For example, the stamp duty for a vehicle with a market value of $50,000 is calculated as:

    Stamp Duty on $45,000 at 3% = $1,350
    Stamp Duty on $5,000 at 5% = $250
    Total Stamp Duty $1,600

    Barry.

  6. #6
    Fellow Frogger!
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    Dont forget luxuary car tax, i thinks its for cars above $50,000

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    Contented Peugeot Driver addo's Avatar
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    Remember that a seller doing you right, issues three receipts.

    1. Lowest possible purchase price feasible. This tends to determine what you pay as stamp duty.

    2. Highest feasible purchase price, for your insurer.

    3. Real price paid, for your financial records. Only this one should stipluate the mode of payment (cash, bank cheque etc).

    This approach has you in your collectable car for the least outlay to third parties, and covers for the most in the event of unthinkable happenings!

    Cheers, Adam.

  8. #8
    wielder of the sword Australdi's Avatar
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    Quote Originally Posted by 180+1=fun
    There is no GST on 2nd hand cars bought privately but through a dealer it's in there. Stamp duty is 4% in Vic up to about $50K or so I think, and then it's more. I've only ever paid 4%! On a new/dealer car you will pay stamp duty on the GST inclusive price. This means a tax on a tax. Don;t get me started on HECS and tax...
    Just to clarify a little....
    2nd hand vehicles attract 4% flat rate stamp duty (includes demo vehicles already registered)
    New Vehicles have a sliding scale 2%, 4% & luxury tax kicks in at about 54K from memory (can't think tonight, but will look up my books tommorrow & edit in the correct brackets.
    & yeah, GST is collected by the dealer. They pay it calculated on the purchase price (on-road costs not included)

    Aus
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    Fellow Frogger! Filldebin's Avatar
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    Default Wow, sneaky taxes

    Thanks for the replies. It was worse than I first thought. I better not say anything to the gumnuts here or it will the end of easy buying and selling here.
    I hated the idea of annual RWCs here , but now I have found how useful a they can be. It is performed by the state owned company and is actually less likely to be open for corrupt practices. However, variations in strictness do occur around the country. The recheck can be done by a licensed repairer but it is better just to do the bits, if required, and then go back to the same place. You have a month to fix things, but if you come in with a really stupidly dangerous problem they can put an immediate driving ban, like a canary, on the car.

    Philip

  10. #10
    1000+ Posts Warwick's Avatar
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    Victoria = 4% used, except for a newly registered demo car above $45000, then 5%.
    New = 2.5% until $35000
    4% $35-45k
    5% $45000+
    Gst =10% always. Luxury car tax payable only once on a car. Plus 25% for money above $57009 (tax included)
    And cars are cheaper now than they were years ago when we had squillion % inport duty.
    "Now my dream lies shattered like the shards of a broken dream"

  11. #11
    Fellow Frogger!
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    Quote Originally Posted by addo
    Remember that a seller doing you right, issues three receipts.

    1. Lowest possible purchase price feasible. This tends to determine what you pay as stamp duty.
    I'd be real careful with this one. The RTA can (& does) use their valuation rather than whatever your receipt says, and the OSR can get pretty nasty if they suspect fraud.

    Barry.

  12. #12
    wielder of the sword Australdi's Avatar
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    Thanks Warwick
    I was hoping you'd read this & post the up to date brackets...cause I'm lazy

    Aus
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    deteriorates when the bottom environment cannot support animal life.
    The bottom is the area that runs out of oxygen first, it is where the most oxygen is used........"



    '84 fuego GTX
    '87 fuego GTX
    '85 fuego GTX
    ....beginning to look a bit frightning isn't it.

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