What rates of duty are payable when a house or business is purchased or transferred in NSW?

·         Based on the current NSW current (2014) rates of duty, purchasing or transferring assets such as a house, land or a business incurs the following rates of duty:

o   $0 to $14,000 - 1.25% of dutiable value.

o   $14,001 to $30,000 - $175 + 1.5% of value over $14,000.

o   $30,001 to $80,000 - $415 + 1.75% of dutiable value over $30,000.

o   $80,001 to $300,000 - $1,290 + 3.5% of dutiable value over $80,000.

o   $300,001 to $1 million - $8,990 + 4.5% of dutiable value over $300,000.

o   $1 million to $3 million - $40,490 + 5.5% of dutiable value over $1 million.

o   Over $3 million - $150,490 + 7% of dutiable value over $3 million