I am working on a spreadsheet that is comparing various properties.
As I would like to take stamp duty into consideration I would like to know what formula NSW uses for calculating stamp duty.
Some googling gave me this: http://www.moneybuddy.com.au/home-lo...tamp-duty.html
< $14,000 1.25% of dutiable value
$14,001 - $30,000 $175 + 1.5% of dutiable value
$30,001 - $80,000 $415 + 1.75% of dutiable value
$80,001 - $300,000 $1,290 + 3.5% of dutiable value
$300,001 - $1 million $8,990 + 4.5% of dutiable value
> $1 million $40,490 + 5.5% of dutiable value
but this formula doesn't agree with the many online calculators that are available from the web.
As I believe stamp duty takes into consideration the purchase price and the loan amount; I really would like the formula in black and white so I can include it in my spreadsheet rather than having to manually calculate it via what may be inaccurate online calculators.
If anyone can help, that would be great!