this post was submitted on 07 Aug 2024
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Science Memes

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Hermit Crab Housing Market (mander.xyz)
submitted 3 months ago by [email protected] to c/[email protected]
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[–] [email protected] 6 points 3 months ago (3 children)

Can you explain for an American?

[–] [email protected] 1 points 3 months ago

It's a tax on buying a house.

[–] [email protected] -1 points 3 months ago

Not fully as I don't really understand it.

https://www.revenue.nsw.gov.au/taxes-duties-levies-royalties/transfer-duty

The calculator on that page says I would owe them $17k if I purchase a $500k property.

[–] [email protected] 1 points 3 months ago

Stamp duty makes it sound like it's what happened to them because they didn't kick the brits out over the stamp act.