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/