Whether you’re getting ready to seal the deal on your first home or fifth investment property in SA, there is the small matter of stamp duty to sort out. Luckily, you can find out roughly how much you’ll need to set aside using our stamp duty calculator for South Australia.
Calculations valid for 2020-2021 financial year
Includes duty discounts for first home buyers but does not include state or federal grants
Some states may give further discounts or exemptions in certain circumstances
What next?
Check out some top home loan offers, read up on all things home loans or check out our other calculators
Home loan comparisons on Mozo - rates updated daily
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
$1234
1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required.
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required.
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
$520
$0.00
$0.00
yes - free
yes - free
Optional - with 0.10% additional interest
$520
80.00%
$50,000
$1,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Smart Booster Home Loan
Details Close
2.09% p.a.
fixed 2 years
2.56% p.a.
$1234
Fixed, Owner Occupier, Principal & Interest, LVR 70-80%
2.09% p.a.
fixed 2 years
2.56% p.a.
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
2.09% p.a.
fixed 2 years
2.56% p.a.
$0
$0.00
$400.00
yes - free
yes - free
no
$0
80.00%
$150,000
$750,000
Fixed
Principal & Interest
Owner Occupier
Monthly
Read our Mozo Review to learn more about the Basic Home Loan
Details Close
2.34% p.a. variable
2.34% p.a.
$1234
Owner Occupier, Principal & Interest
2.34% p.a. variable
2.34% p.a.
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
2.34% p.a. variable
2.34% p.a.
$0
$0.00
$0.00
yes - free
yes - free
no
$0
80.00%
$100,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
Details Close
2.19% p.a. variable
2.19% p.a.
$1234
<60% LVR, Owner Occupier, Principal & Interest
2.19% p.a. variable
2.19% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
2.19% p.a. variable
2.19% p.a.
$0
$0.00
$0.00
yes - free
yes - free
no
$0
60.00%
$100,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Celebrate Variable Home Loan
Details Close
2.04% p.a.
fixed 3 years
2.73% p.a.
$1234
Owner Occupier, LVR <80%, 300k+
2.04% p.a.
fixed 3 years
2.73% p.a.
Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.
Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.
2.04% p.a.
fixed 3 years
2.73% p.a.
$450
$10.00 monthly
$350.00
yes - up to $10,000 per annum
no
no
$450
80.00%
$300,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$3,000 cashback for new borrowings of at least $300,000, applications by 26 Feb 2021, settled by 28 May 2021.
Read our Mozo Review to learn more about the Special Offer Reward Me Fixed Rate Home Loan
Details Close
1.99% p.a.
fixed 4 years
3.45% p.a.
$1234
Owner Occupier, Principal & Interest
1.99% p.a.
fixed 4 years
3.45% p.a.
Ability to split your loan between fixed and variable. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply
Ability to split your loan between fixed and variable. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply
1.99% p.a.
fixed 4 years
3.45% p.a.
$0
$395.00 yearly
$0.00
yes - free up to $25,000 p.a.
yes - free
no
$0
80.00%
$5,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$2,000 cashback when you refinance your home loan from another financial institution when you apply by 31 March 2021 and are funded by 31 May 2021, min $250k, LVR <80%
Read our Mozo Review to learn more about the Special Fixed Rate Home Loan
Details Close
2.19% p.a. variable
2.20% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <60%
2.19% p.a. variable
2.20% p.a.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
2.19% p.a. variable
2.20% p.a.
$250
$0.00
$300.00
yes - free
yes - free
no
$250
60.00%
$80,000
$5,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Neat Home Loan
Details Close
Hot Deal $3,000 cashback when you refinance your home loan to BOQ (T&Cs apply)
1.99% p.a.
fixed 4 years
2.90% p.a.
$1234
Owner Occupier, Principal & Interest, <80% LVR
1.99% p.a.
fixed 4 years
2.90% p.a.
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $3,000 cashback when you refinance your home loan to BOQ (min. $250k lending, max 80% LVR, T&Cs apply).
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $3,000 cashback when you refinance your home loan to BOQ (min. $250k lending, max 80% LVR, T&Cs apply).
1.99% p.a.
fixed 4 years
2.90% p.a.
$450
$10.00 monthly
$350.00
yes - free up to $5,000 p.a
no
no
$450
80.00%
$150,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 28 May 2021, settle by 27 August 2021.
Read our Mozo Review to learn more about the Discount Fixed Rate
Details Close
2.17% p.a. variable
2.20% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <80%
2.17% p.a. variable
2.20% p.a.
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed.
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed.
2.17% p.a. variable
2.20% p.a.
$785
$0.00
$300.00
yes - free
yes - free
Optional - $10 per month
$785
80.00%
$200,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Well Balanced
Details Close
Hot Deal $3,288 cashback when you refinance your home loan to HSBC (T&Cs apply)
1.88% p.a.
fixed 2 years
2.86% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <80%
1.88% p.a.
fixed 2 years
2.86% p.a.
Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Refinancers borrowing $250,000 or more will receive $3288 (T&Cs, eligibility and lending criteria apply). Mozo Experts Choice Fixed Home Loan 2020 winner^
Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Refinancers borrowing $250,000 or more will receive $3288 (T&Cs, eligibility and lending criteria apply). Mozo Experts Choice Fixed Home Loan 2020 winner^
1.88% p.a.
fixed 2 years
2.86% p.a.
$270
$390.00 yearly
$300.00
yes - free up to $10,000 p.a.
no
no
$270
80.00%
$500,000
$7,500,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Receive $3,288 when you refinance a minimum of $250k for applications from 15 Feb to 30 April 2021, settled by 30 June 2021.
Read our Mozo Review to learn more about the Fixed Rate Home Loan
Details Close
1.89% p.a.
fixed 2 years
2.94% p.a.
$1234
Owner Occupier, Principal & Interest, <80% LVR
1.89% p.a.
fixed 2 years
2.94% p.a.
Competitive low rates starting from 1.89% (2.94% comparison rate) 2 years fixed for owner occupiers. No monthly account keeping fees & No loan establishment fee.
Competitive low rates starting from 1.89% (2.94% comparison rate) 2 years fixed for owner occupiers. No monthly account keeping fees & No loan establishment fee.
1.89% p.a.
fixed 2 years
2.94% p.a.
$0
$375.00 yearly
$350.00
yes - free up to $500 per month
no
no
$0
80.00%
$150,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Fixed Home Loan Special Offer
Details Close
2.09% p.a. variable
2.12% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <70%
2.09% p.a. variable
2.12% p.a.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
2.09% p.a. variable
2.12% p.a.
$849
$0.00
$500.00
yes - free
yes - free
Optional - $10 per month
$849
70.00%
$150,000
$1,500,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Special rate applies to home loan applications submitted by 28 February 2021.
Read our Mozo Review to learn more about the Variable Home Loan Special
Details Close
1.75% p.a.
fixed 3 years
2.22% p.a.
$1234
Owner Occupier, Principal & Interest
1.75% p.a.
fixed 3 years
2.22% p.a.
$0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
$0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
1.75% p.a.
fixed 3 years
2.22% p.a.
$0
$0.00
$0.00
yes - free up to $20,000 p.a.
no
no
$0
80.00%
$100,000
$2,000,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$395 Establishment fee waived for fixed rate loans that settle by 31 March 2020. Receive 1.75% 3 year fixed rate when you apply by 29 April 2021 and settle within 90 days.
Read our Mozo Review to learn more about the UHomeLoan
Details Close
2.54% p.a. variable
2.55% p.a.
$1234
LVR<80%, Owner Occupier, Principal & Interest
2.54% p.a. variable
2.55% p.a.
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more.
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more.
2.54% p.a. variable
2.55% p.a.
$0
$0.00
$350.00
Yes - free
yes - free
no
$0
80.00%
$150,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Back to Basics Special
Details Close
2.19% p.a.
fixed 3 years
2.68% p.a.
$1234
Owner Occupier, Principal & Interest, LVR<80%
2.19% p.a.
fixed 3 years
2.68% p.a.
Competitive fixed rates ranging from 2.19% (2.68% comparison rate*) across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year).
Competitive fixed rates ranging from 2.19% (2.68% comparison rate*) across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year).
2.19% p.a.
fixed 3 years
2.68% p.a.
$0
$0.00
$275.00
yes - free up to $10,000 p.a.
no
no
$0
80.00%
$150,000
-
Fixed
Principal & Interest
Owner Occupier
Monthly, Fortnightly, Weekly
Read our Mozo Review to learn more about the Fixed Rate Home Loan
Details Close
2.29% p.a. variable
2.23% p.a.
$1234
70-80% LVR, Owner Occupier, Principal & Interest
2.29% p.a. variable
2.23% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. To reward borrowers for paying down their home loan, Athena will now automatically lower the rate as the loan is paid down. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. To reward borrowers for paying down their home loan, Athena will now automatically lower the rate as the loan is paid down. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
2.29% p.a. variable
2.23% p.a.
$0
$0.00
$0.00
yes - free
yes - free
no
$0
80.00%
$100,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Liberate Variable Home Loan
Details Close
1.99% p.a.
fixed 2 years
2.17% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <80%
1.99% p.a.
fixed 2 years
2.17% p.a.
Super low rates from an online lender and the personal support from a family run company Free extra repayments and redraw facility. Flexible repayment schedule.
Super low rates from an online lender and the personal support from a family run company Free extra repayments and redraw facility. Flexible repayment schedule.
1.99% p.a.
fixed 2 years
2.17% p.a.
$785
$0.00
$300.00
yes - free
yes - free
Optional - $10 per month
$785
80.00%
$200,000
$2,000,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Well Balanced Fixed
Details Close
2.44% p.a. variable
2.49% p.a.
$1234
LVR <70%
2.44% p.a. variable
2.49% p.a.
Find your fit with competitive home loans for borrowers with clear credit and strong employment history. Flexible repayment terms. 20 year home loan history. Get a dedicated loan consultant for the loan application process. 30% deposit required.
Find your fit with competitive home loans for borrowers with clear credit and strong employment history. Flexible repayment terms. 20 year home loan history. Get a dedicated loan consultant for the loan application process. 30% deposit required.
2.44% p.a. variable
2.49% p.a.
$710
-
$250.00
yes - free
yes - free
no
$710
70.00%
$100,000
$2,500,000
Variable
Principal & Interest, Interest Only
Owner Occupier, Investor
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Prime Home Loan
Details Close
2.34% p.a. variable
2.35% p.a.
$1234
Owner Occupier, Principal & Interest, LVR 70-80%
2.34% p.a. variable
2.35% p.a.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
2.34% p.a. variable
2.35% p.a.
$250
$0.00
$300.00
yes - free
yes - free
no
$250
80.00%
$80,000
$5,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Neat Home Loan
Details Close
2.94% p.a. variable
3.34% p.a.
$1234
Owner Occupier, Principal & Interest
2.94% p.a. variable
3.34% p.a.
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. 100% offset account. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply.
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. 100% offset account. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply.
2.94% p.a. variable
3.34% p.a.
$0
$395.00 yearly
$0.00
yes - free
yes - free
yes
$0
80.00%
$150,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$2,000 cashback when you refinance your home loan from another financial institution when you apply by 31 March 2021 and are funded by 31 May 2021, min $250k, LVR <80%
Read our Mozo Review to learn more about the Discounted Variable Home Loan
Details Close
2.48% p.a. variable
2.50% p.a.
$1234
Owner Occupier, Principal & Interest
2.48% p.a. variable
2.50% p.a.
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ You'll need to be borrowing $1 million or less and have at least a 20% deposit required.
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ You'll need to be borrowing $1 million or less and have at least a 20% deposit required.
2.48% p.a. variable
2.50% p.a.
$520
$0.00
$0.00
yes - free
yes - free
Optional - with 0.10% additional interest
$520
80.00%
$50,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Smart Home Loan 80
Details Close
Hot Deal $3,000 cashback when you refinance your home loan to BOQ (T&Cs apply)
2.59% p.a. variable
2.76% p.a.
$1234
Owner Occupier, Principal & Interest, <70% LVR
2.59% p.a. variable
2.76% p.a.
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%.
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%.
2.59% p.a. variable
2.76% p.a.
$450
$10.00 monthly
$320.00
yes - free
yes
no
$450
70.00%
$150,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 28 May 2021, settle by 27 August 2021.
Read our Mozo Review to learn more about the Economy Variable Home Loan
Details Close
2.29% p.a. variable
2.32% p.a.
$1234
Owner Occupier, Principal & Interest, LVR 70-80%
2.29% p.a. variable
2.32% p.a.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
2.29% p.a. variable
2.32% p.a.
$849
$0.00
$500.00
yes - free
yes - free
Optional - $10 per month
$849
80.00%
$150,000
$1,500,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Special rate applies to home loan applications submitted by 28 February 2021.
Read our Mozo Review to learn more about the Variable Home Loan Special
Details Close
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
Find out all you need to know about how stamp duty works down in South Australia using Mozo’s most commonly asked questions about the government fee for homebuyers and investors in SA, below.
Stamp duty is a one-time government fee that applies when you buy land or property, regardless of whether you plan to use it as a home or an investment. Stamp duty charges change based on the state or territory, which is why we’ve built bespoke stamp duty calculators for each of Australia’s major states including:
In South Australia, stamp duty is calculated from either the market value of the property or how much you paid for the property including GST, whichever is more. South Australia also uses a tiered rate format, so the more your newly acquired asset is worth, the more you can expect to pay in stamp duty.
Stamp duty rates make up the bulk of your overall transfer fee, but there are other costs associated with stamp duty like a transfer and mortgage registration fee.
The mortgage registration fee is a flat sum that needs to be paid if you’re taking out a home loan and, in doing so, are registering your mortgage with the South Australian government.
Next, the transfer fee operates on a sliding scale, depending on how much you’ve paid for your property and is the expense to lodge a transfer of property document.
Luckily, our SA stamp duty calculator takes all of these charges into account so you can get a more accurate idea of what you need to pay. Check out the following home buying scenario to see how these stamp duty costs come together in a final stamp duty bill.
A HOME BUYING SCENARIO
Jack and Jill have spent years saving and months researching the real estate market for a home that’s close to work in Adelaide’s CBD and think they’ve found the perfect little property in the northern suburbs. The 3-bedroom townhouse isn’t just first home friendly but it also fits neatly into their $300,000 budget. But how much will they pay in stamp duty?
Using Mozo’s SA stamp duty calculator, you can see your total stamp duty charges would total $13,762. This includes the flat $145 mortgage registration fee, $2,287 in transfer fees and $11,330 in stamp duty charges.
The SA state government or more specifically, the Department of Treasury and Finance of South Australia. Stamp duty is a tax, so it goes towards fueling the state government budget which usually means bolstering public sectors such as health, emergency services and education.
Stamp duty is calculated when you settle your new South Australian property and you might only have a few months to pay the sum. In SA, you can expect to receive a letter in the mail shortly after you purchase your property which will breakdown your stamp duty costs, including the exact amount you need to pay, the due date and how to pay. Typically, RevenueSA - the government body responsible for these transactions - will process payments over-the-phone, online, via mail and BPay as well as in person.
No, stamp duty needs to be paid in full to the state government, upfront. However, most home loan lenders will help accommodate stamp duty charges into your mortgage. What this might mean is that you have less money going towards your deposit and you’re increasing your overall loan amount. As a result, the higher LVR might mean you end up paying Lenders Mortgage Insurance.
Some state governments will ease the burden on first home buyers or encourage investment by offering an exemption or concession on stamp duty charges. In South Australia, there are currently two exemptions on the table:
The Off-the-Plan Concession is available for homebuyers purchasing an off-the-plan apartment or substantially refurbished apartment anywhere in South Australia between 20 June 2016 and 30 June 2018.
Exemptions also apply if your property is being transferred from an estate of a deceased person under a will.
Exemptions are put in place by state governments and are always changing, so make sure to do your research so you know exactly what you’re entitled to when it comes to stamp duty.
South Australia certainly welcomes foreign home buyers but since the 1st of January 2018, you’ll incur a 4% surcharge on the normal stamp duty costs associated with your new property.
Stamp duty is one thing, but its not the only or even necessarily the most pricey home buying expense you need to be aware of when you’re planning to purchase property. You’ve also got the following costs to account for:
Deposit
The headline expense when it comes to buying a home is a cushy house deposit and the larger the deposit amount, the smaller the home loan amount which means you’ll pay less interest over the life of the loan. The deposit also has an impact on your LVR and if you fall below the 80% threshold, you’ll be forced to stump up additional charges on your mortgage in the form of Lenders Mortgage Insurance.
Conveyancer fees
When settling the home buying transaction, you’ll want a solicitor or lawyer to look over all the contracts. This could cost you around $2000.
Pest and building inspection fees
The last thing you need is to find out your new dream home is being eaten alive by termites. You can avoid that with a pest inspection and make sure the rest of the structure is in good nick with a building inspection prior to purchase.
Your monthly mortgage repayments
If you are taking out a mortgage to land your new home, you’ll have to start stumping up weekly, fortnightly or monthly home loan repayments as soon as you get the keys. Luckily, we’ve created a handy mortgage repayments calculator so that you can get an idea of what your monthly repayments will look like and what kind of home loan interest rate you should be paying before you take the plunge into the property market.
Home and contents insurance
If you do have a mortgage, your home loan lender will stipulate that you get covered with a cosy home insurance policy. If you want your belongings covered too, you can check out a range of popular home and contents insurance policies on the market right now.
Landlords insurance
If your new property is intended as an investment and you’ll be renting it out to some lucky South Australian resident, you’ll want to have landlords insurance all sewn up as well, so that you’re covered for any damage that a tenant might cause.
And while these are some of the more noteworthy expenses that come with buying a home, there are a bunch more which is why we’ve created a comprehensive list of home buying guides for you to run your eyes over before you get the keys to your new home.
For many Aussies, there’s no prouder moment than being given the keys to your brand new home. But before that can take place, you’re going to need a home loan with a competitive interest rate to seal the deal. And since there are a number of home loan rates floating around, our Home Loans Interest Rates page can help you compare available rates from different lenders.