GUIDE TO SETTLEMENT COSTS
A maximum scale of fees applies to settlement services where by the maximium fee a settlement agent can charge is prescribed by regulation. In most cases you are able to negotiate a lower fee with the settlement agent which is lower than the prescribed maximum.
Because we are an family owned and operated, independent settlement agent we can offer very competitive settlement fees.
There are many variables in calculating duty and we have attempted to cover all of these on our site:
Registration fees for Transfer documents are based on the consideration or value assessed by the Office of State Revenue
Up to $ 85,000 $160
$ 85,001 to $120,000 $170
$120,001 to $200,000 $190
$200,001 to $300,000 $210
$300,001 to $400,000 $230
$400,001 to $500,000 $250
$500,001 to $600,000 $270
$600,001 to $700,000 $290
$700,001 to $800,000 $310
$800,001 to $900,000 $330
$900,001 to $1,000,000 $350
$1,000,001 to $1,100,000 $370
$1,100,001 to $1,200,000 $390
$1,200,001 to $1,300,000 $410
$1,300,001 to $1,400,000 $430
$1,400,001 to $1,500,000 $450
$1,500,001 to $1,600,000 $470
$1,600,001 to $1,700,000 $490
$1,700,001 to $1,800,000 $510
$1,800,001 to $1,900,000 $530
$1,900,001 to $2,000,000 $550
Over $2,000,000 – $550 plus $20 for every $100,000 or part thereof.
RATES OF DUTY
General rate
| $ 0 – $ 80,000 | $1.90 | Per $100 or part thereof | |
| $ 80,001 – $100,000 | $ 1,520 + | $2.85 | Per $100 or part thereof above $ 80,000 |
| $100,001 – $250,000 | $ 2,090 + | $3.80 | Per $100 or part thereof above $100,000 |
| $250,001 – $500,000 | $ 7,790 + | $4.75 | Per $100 or part thereof above $250,000 |
| $500,001 and upwards | $19,665 + | $5.15 | Per $100 or part thereof above $500,000 |
Residential rate
| $ 0 – $120,000 | $1.90 | Per $100 or part thereof | |
| $120,001 – $150,000 | $ 2,280 + | $2.85 | Per $100 or part thereof above $120,000 |
| $150,001 – $360,000 | $ 3,135 + | $3.80 | Per $100 or part thereof above $150,000 |
| $360,001 – $725,000 | $11,115 + | $4.75 | Per $100 or part thereof above $360,000 |
| $725,001 and upwards | $28,453 + | $5.15 | Per $100 or part thereof above $725,000 |
Concessional rate (s147)
| $ 0 – $100,000 | $1.50 | Per $100 or part thereof | |
| $100,001 – $200,000 | $ 1,500 + | $4.39 | Per $100 or part thereof above $100,000 |
First home owner rate – established home
| $ 0 – $500,000 | Nil | ||
| $500,001 – $600,000 | $22.51 | Per $100 or part thereof above $500,000 |
First home owner rate – vacant land
| $ 0 – $300,000 | Nil | ||
| $300,001 – $400,000 | $13.01 | Per $100 or part thereof above $300,000 |
To obtain a residential rate of duty you will need to complete a Residential Rate of Duty form to be lodged with your Offer and Acceptance document before settlement.
For a no obligation free quote on your settlement requirements or if you have any questions regarding your settlement transfer or your real estate transaction please don’t hesitate to contact Jan Bullen on 08 9582 3300 or email Jan at Riverside Settlements
