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Northern Territory Stamp Duty - General Rate Duty is calculated on the purchase price or unencumbered value of the dutiable property, whichever is the greater, as follows:

Where the dutiable value does not exceed $525,000 in accordance with the follow formula:

D = (0.06571441 x V^2 ) + 15 * V

Where D = the duty payable in $ and V = the dutiable value / 1000

  • From 1 July 2017, where the dutiable value exceeds $525,000, but is less than $3 million - 4.95 per cent of that amount.
  • From 1 July 2017, where the dutiable value is $3 million or more - 5.75 per cent of that amount.
  • From 1 July 2017, where the dutiable value is $5 million or more - 5.95 per cent of that amount.

I want to know if I have $500,001 amount then stamp duty is $821 but how can I calculated stamp duty to get $821?

I have take some reference from below site: http://www.homeloans.com.au/calculators/stamp-duty-calculator/

  • What result did you expect? – 0xFEE1DEAD Aug 1 '17 at 19:52
  • My expected result is $821. But how can I get this. – TechnicalKalsa Aug 2 '17 at 1:51
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The formula is actually as follows:

(0.06571441 * V^2) + 15 * V, where V is the value divided by 1,000

which gives us AU$ 23,929

You find the same value using the calculator you linked to if you select "Investment" instead of "Primary Residence" or uncheck "I am a first home buyer"

Edit:

I don't know how they determine the $AU 821, it might be worth calling them. From looking up the First Home Owner Discount, it looks like no stamp duty may be due if you qualify for the discount:

From 1 September 2016, the Northern Territory Government introduced increased stamp duty assistance for first home buyers who purchase an established home in the Northern Territory up to the value of $650 000.

The First Home Owner Discount (FHOD) is a full stamp duty concession on the initial $500 000 value of the home, which equates to stamp duty savings of up to $23 928.60.

For established homes valued at more than $650 000, a stamp duty saving of $10 000 is available until 31 December 2016.

source: Department of Treasury and Finance

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