Government Charges For Residents And Non – Residents
What state taxes and levies are incurred when purchasing a home?
There are a number of taxes and levies incurred when you purchase a home, regardless of whether this is your first home, a new home or an investment property. These are:
- Stamp Duty
- Land Tax
The largest state taxation liability when purchasing a home is stamp duty, which is incurred on the transfer of the property. The amount of stamp duty you are required to pay is assessed on the purchase price or the market value of the property at the date of settlement, whichever is the greater.
Stamp duty must be paid in order for you to be registered as the owner on the Certificate of Title for the property with the Land Services Group.
The Stamp Duty on Conveyances Calculator can assist you in estimating the amount of stamp duty payable.
For more information on stamp duty please see the Stamp Duty on Transfer of Real Property (Land) page or contact our stamp duty call centre on 08 8226 3750 or by email.
Land tax is an annual tax which applies to all properties in South Australia, however there are tax-free thresholds and exemptions which exclude a number of properties from the tax.
If you are purchasing a vacant piece of land, or a property that was an investment property for the previous owner, you may be required to pay an amount of land tax at the time of settlement. Generally properties that are resided in by the owner as their principal place of residence are exempt from land tax. Any adjustment of land tax payable will be made by the conveyancer engaged to transfer the property.
Emergency Services Levy
The emergency services levy is applied each financial year to properties in South Australia. The money raised through the levy is allocated to fund essential emergency services.
As with land tax, you may be required to pay a proportion of the levy at settlement. The amount will be calculated by the conveyancer engaged to transfer the property. Each year, as the owner of the property, you will be required to pay the levy, which is calculated on the property’s value, use and region.