**Annex I: Stamp Duties and Property Transfer Taxes for Selected Countries**

|**Countries**<br>**(States)**|**Current System or Tax Rate**|**Tax reform or other stamp tax**<br>**changes/proposed, old**<br>**system**|**Public opinion or cases**|**Sources**|
|---|---|---|---|---|
|**Australia**<br>**(New South**<br>**Wales)**|**Stamp Duty on Transfer of Real Property (Land)**<br>**For contracts dated after 11 July 2002, New tax**<br>**rate:**<br>Does not exceed $12,000 $1.00 for every $100 or<br>part of $100<br>Exceeds $12,000 but not $30,000 $120 plus $2.00<br>for every $100 or part of $100 over $12,000<br>Exceeds $30,000 but not $50,000 $480 plus $3.00<br>for every $100 or part of $100 over $30,000<br>Exceeds $50,000 but not $100,000 $1,080 plus<br>$3.50 for every $100 or part of $100 over $50,000<br>Exceeds $100,000 but not $200,000 $2,830 plus<br>$4.00 for every $100 or part of $100 over $100,000<br>Exceeds $200,000 but not $250,000 $6,830 plus<br>$4.25 for every $100 or part of $100 over $200,000<br>Exceeds $250,000 but not $300,000 $8,955 plus<br>$4.75 for every $100 or part of $100 over $250,000<br>Exceeds $300,000 but not $500,000 $11,330 plus<br>$5.00 for every $100 or part of $100 over $300,000<br>Exceeds $500,000 $21,330 plus $5.50 for every<br>$100 or part of $100 over $500,000<sup>5)</sup><br>**Motor Vehicle Stamp Duty:**<br>Rate is 3% of MV first $45,000, 5% of MV above<br>$45,000<sup>6)</sup>|<br>**5 November 2003**<br>The NSW government has<br>proposed a price cap of<br>$350,000 on some state-built<br>homes and cuts to stamp duty<br>as part of a scheme to make<br>Sydney housing more<br>affordable.<sup>2)</sup><br>**Stamp Duty on Transfer of**<br>**Real Property (Land)**<br>**For contracts dated prior 11**<br>**July 2002, Old tax rate**:<br>Does not exceed $12,000 $1.00<br>for every $100 or part of $100<br>Exceeds<br>$12,000<br>but<br>not<br>$30,000 $120 plus $2.00 for<br>every $100 or part of $100 over<br>$12,000<br>Exceeds<br>$30,000<br>but<br>not<br>$50,000 $480 plus $3.00 for<br>every $100 or part of $100 over<br>$30,000<br>Exceeds<br>$50,000<br>but<br>not<br>$100,000 $1,080 plus $3.50 for<br>every $100 or part of $100 over<br>$50,000<br>Exceeds<br>$100,000<br>but<br>not<br>$500,000 $2,830 plus $4.00 for<br>every $100 or part of $100 over<br>$100,000<br>Exceeds<br>$500,000<br>but<br>not<br>$1,000,000 $18,830 plus $4.50<br>for every $100 or part of $100<br>over $500,000<br>Exceeds $1,000,000 $41,330<br>plus $5.00 for every $100 or<br>part of $100 over $1,000,000<sup>5)</sup>|Opinion on Current System<br>**29 October 2003**<br>Bombala Shire mayor Faye<br>Campbell has echoed concerns<br>about the impact of stamp duty<br>on the regional property market.<br>Deputy Prime Minister John<br>Anderson says the state tax is<br>causing a crisis in the regional<br>market where house prices are<br>rising faster than in Sydney.<br>Councilor Campbell says she is<br>concerned that, if properties<br>continue to rise, young people<br>will not be able to afford to buy in<br>the shire. "It makes it very<br>difficult for young people who<br>want to come in and buy their<br>first home," she said. "You know<br>they've got that extra cost on the<br>price of the home and everything<br>else that goes with it and I think<br>it'd be very difficult for them to<br>start off."<sup>1)</sup><br>The NSW Opposition would<br>introduce into state parliament<br>this week a bill to reduce stamp<br>duty by 10 per cent, Opposition<br>Leader John Brogden said today.<br>As well as the bill, the opposition<br>today launched a website for<br>calculating the stamp duty on a<br>house and a roving billboard<br>showing the tax take in different<br>suburbs. Speaking in NSW<br>Premier Bob Carr's electorate of<br>Maroubra, Mr. Brogden told<br>reporters soaring property prices<br>would result in stamp duty<br>revenue of $3.5 billion this year,<br>and people were getting nothing<br>in return.<sup>3)</sup><br>**29 October 2003**|<br>1)http://www.abc.net.au/southeastns<br>w/news/200310/s977524.htm<br>2)http://www.theage.com.au/articles/<br>2003/11/05/1067708243257.html<br>3)http://www.news.com.au/common/<br>story_page/0,4057,7674619%255E1<br>702,00.html<br>_4)http://www.nzherald.co.nz/busines_<br>_s/businessstorydisplay.cfm?storyID=_<br>_3531265&thesection=business&thes_<br>_ubsection=commproperty&thesecon_<br>_dsubsection=general&thetickercode=_<br>5)http://www.revenuesa.sa.gov.au/st<br>amps/sdreal.html<br>6)http://216.239.37.104/search?q=ca<br>che:0sbgqt15r9UJ:www.aaa.asn.au/<br>pub/issuessheet/costs98.pdf+%22so<br>uth+australia+stamp+duty%22&hl=e<br>n&ie=UTF-8|

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