private decimal GetTotalVacantLandDeductionAmount(PropertySaleInformation propertySaleInformation, decimal fullPurchasePrice, decimal fullTransferDuty, Fraction buyerFractionWhereFirstHomeDutyApplies)
{
decimal firstHomeVacantLandTransferDutyPortion = fullTransferDuty * buyerFractionWhereFirstHomeDutyApplies;
decimal firstHomeVacantLandRebate = firstHomeVacantLandDiscountService.CalculateDiscountRate(fullPurchasePrice * buyerFractionWhereFirstHomeDutyApplies);
return(Math.Min(firstHomeVacantLandTransferDutyPortion, firstHomeVacantLandRebate));
}
private decimal GetTotalHomeDutyAmount(PropertySaleInformation propertySaleInformation, decimal fullPurchasePrice, Fraction buyerFractionWithHomeDiscount)
{
decimal homeDutiableAmount = Math.Min(fullPurchasePrice, 350000);
decimal homeDuty = homeConsessionService.CalculateTieredRate(homeDutiableAmount);
homeDuty *= buyerFractionWithHomeDiscount;
return(homeDuty);
}
private decimal GetTotalFirstHomeDutyAmount(PropertySaleInformation propertySaleInformation, decimal fullPurchasePrice, Fraction buyerFractionWhereHomeDutyApplies)
{
decimal firstHomeDuty = homeConsessionService.CalculateTieredRate(fullPurchasePrice);
decimal firstHomeDiscount = firstHomeDiscountService.CalculateDiscountRate(propertySaleInformation.PurchasePrice);
firstHomeDuty = Math.Max(firstHomeDuty - firstHomeDiscount, 0M);
firstHomeDuty *= buyerFractionWhereHomeDutyApplies;
return(firstHomeDuty);
}
private decimal GetFirstHomeOwnerGrant(PropertySaleInformation propertySaleInformation, PropertyBuyer buyer)
{
// https://firsthomeowners.initiatives.qld.gov.au/eligibility.php
if (propertySaleInformation.PurchasePrice < 750000 &&
propertySaleInformation.PropertyType == PropertyType.NewHome)
{
if (BuyerFirstHomeDutyApplies(buyer))
{
return(15000M);
}
}
return(0M);
}
public void StampDutyCalculatorCorrectFees(PropertySaleInformation saleInfo, FinancialResults expectedResults,
decimal expectedTotalFees, decimal transferDutyPayable, decimal expectedTotalConcessions, int scenarioId)
{
var calc = new StampDutyService();
FinancialResults results = calc.Calculate(saleInfo);
_output.WriteLine($"Testing scenario {scenarioId}");
try
{
FinancialResultCategory stampDutySummaryCategory = results.Categories.Where(c => c.Title == "Stamp Duty Summary").SingleOrDefault();
if (stampDutySummaryCategory != null)
{
Assert.Equal(transferDutyPayable, stampDutySummaryCategory.Total);
}
Assert.Equal(expectedTotalFees, results.Categories.Where(c => c.Title == "Fees").Single().Total);
Assert.Equal(expectedTotalConcessions, results.Categories.Where(c => c.Title == "Concessions").Single().Total);
Assert.Equal(expectedResults, results);
}
catch
{
var settings = new Newtonsoft.Json.JsonSerializerSettings();
settings.Formatting = Newtonsoft.Json.Formatting.Indented;
var serialiser = Newtonsoft.Json.JsonSerializer.Create(settings);
using (TextWriter writer = new StringWriter())
{
serialiser.Serialize(writer, expectedResults);
_output.WriteLine("Expected financial results:");
_output.WriteLine(writer.ToString());
}
using (TextWriter writer = new StringWriter())
{
serialiser.Serialize(writer, results);
_output.WriteLine("Actual financial result:");
_output.WriteLine(writer.ToString());
}
throw;
}
}
private decimal GetTotalDeductionAmount(PropertySaleInformation propertySaleInformation, decimal fullPurchasePrice, Fraction buyerFractionHomeDutyDeductionApplies)
{
if (propertySaleInformation.Buyers.Count() > 0)
{
decimal deductionBase = (decimal)(buyerFractionHomeDutyDeductionApplies * Math.Min(350000M, fullPurchasePrice));
foreach (PropertyBuyer buyer in propertySaleInformation.Buyers)
{
if (buyer.FirstHomeBuyer)
{
deductionBase = (decimal)(buyerFractionHomeDutyDeductionApplies * fullPurchasePrice);
break;
}
}
decimal totalDeductionAmount = transferDutyService.CalculateTieredRate(deductionBase);
return(totalDeductionAmount);
}
return(0M);
}
/// <summary>
/// Calculates the specified property sale information.
/// Additional references for calculations:
/// - https://www.business.qld.gov.au/industries/building-property-development/titles-property-surveying/titles-property/fee-calculator
/// - https://www.dnrm.qld.gov.au/__data/assets/pdf_file/0007/369592/titles-registry-lodgement-fees-2016-2017.pdf
/// </summary>
/// <param name="propertySaleInformation">The property sale information.</param>
/// <returns></returns>
/// <exception cref="InvalidPropertySaleInformationException">
/// Transfer duty can currently only be calculated for Queensland.
/// or
/// </exception>
public FinancialResults Calculate(PropertySaleInformation propertySaleInformation)
{
if (propertySaleInformation.State != State.QLD)
{
throw new InvalidPropertySaleInformationException("Transfer duty can currently only be calculated for Queensland.");
}
Fraction allTransfereesInterests = propertySaleInformation.Buyers.Sum(b => b.Shares);
if (allTransfereesInterests > 1)
{
throw new InvalidPropertySaleInformationException($"The combined fraction of ownership for all buyers is {allTransfereesInterests} which is more than 1. All buyers fractions must be less than or equal to 1.");
}
var feeLineItems = new List <FinancialResultLineItem>();
var concessionLineItems = new List <FinancialResultLineItem>();
var stampDutySummaryLineItems = new List <FinancialResultLineItem>();
decimal propertyDutiableAmount = propertySaleInformation.PurchasePrice * allTransfereesInterests;
decimal fullMorgtgageFee = 192M;
decimal fullTransferFee = 192 + transferFeeService.CalculateTieredRate(propertySaleInformation.PurchasePrice);
decimal fullTransferDuty = transferDutyService.CalculateTieredRate(propertyDutiableAmount);
decimal dutyPayable = 0M;
Fraction buyerFractionWhereHomeDutyApplies = propertySaleInformation.Buyers.Where(b => BuyerHomeDutyApplies(b)).Sum(b => b.Shares);
Fraction buyerFractionWhereHomeDutyAppliesInverse = buyerFractionWhereHomeDutyApplies.InverseOrZero();
Fraction buyerFractionHomeDutyDeductionApplies = propertySaleInformation.Buyers.Where(b => BuyerHomeDutyDeductionApplies(b)).Sum(b => b.Shares);
Fraction buyerFractionHomeDutyDeductionAppliesInverse = buyerFractionHomeDutyDeductionApplies.InverseOrZero();
Fraction buyerFractionWhereFirstHomeDutyApplies = propertySaleInformation.Buyers.Where(b => BuyerFirstHomeDutyApplies(b)).Sum(b => b.Shares);
Fraction buyerFractionWhereFirstHomeDutyAppliesInverse = buyerFractionWhereFirstHomeDutyApplies.InverseOrZero();
decimal totalFirstHomeVacantLandDeduction = 0M;
decimal totalDeductionAmount = 0M;
decimal totalHomeDuty = 0M;
decimal totalFirstHomeDuty = 0M;
if (propertySaleInformation.PropertyType == PropertyType.VacantLand)
{
totalFirstHomeVacantLandDeduction = GetTotalVacantLandDeductionAmount(propertySaleInformation, propertySaleInformation.PurchasePrice, fullTransferDuty, buyerFractionWhereFirstHomeDutyApplies);
dutyPayable = fullTransferDuty - totalFirstHomeVacantLandDeduction;
}
else
{
totalDeductionAmount = GetTotalDeductionAmount(propertySaleInformation, propertySaleInformation.PurchasePrice, buyerFractionHomeDutyDeductionApplies);
totalHomeDuty = GetTotalHomeDutyAmount(propertySaleInformation, propertySaleInformation.PurchasePrice, buyerFractionWhereHomeDutyApplies);
totalFirstHomeDuty = GetTotalFirstHomeDutyAmount(propertySaleInformation, propertySaleInformation.PurchasePrice, buyerFractionWhereFirstHomeDutyApplies);
dutyPayable = fullTransferDuty - totalDeductionAmount + totalHomeDuty + totalFirstHomeDuty;
}
feeLineItems.Add(new FinancialResultLineItem($"Mortgage Fee", fullMorgtgageFee));
feeLineItems.Add(new FinancialResultLineItem($"Transfer Fee", fullTransferFee));
feeLineItems.Add(new FinancialResultLineItem($"Transfer Duty Payable", dutyPayable));
Fraction allTransfereesInterestsInverse = allTransfereesInterests.InverseOrZero();
int buyerCount = 0;
foreach (PropertyBuyer buyer in propertySaleInformation.Buyers)
{
buyerCount++;
decimal buyerTransferDuty = fullTransferDuty * buyer.Shares * allTransfereesInterestsInverse;
if (propertySaleInformation.PropertyType == PropertyType.VacantLand)
{
if (BuyerFirstHomeDutyApplies(buyer))
{
buyerTransferDuty = buyerTransferDuty - totalFirstHomeVacantLandDeduction * buyer.Shares * buyerFractionWhereFirstHomeDutyAppliesInverse;
}
}
else
{
if (BuyerHomeDutyDeductionApplies(buyer))
{
buyerTransferDuty = buyerTransferDuty - totalDeductionAmount * buyer.Shares * buyerFractionHomeDutyDeductionAppliesInverse;
}
if (BuyerHomeDutyApplies(buyer))
{
buyerTransferDuty = buyerTransferDuty + totalHomeDuty * buyer.Shares * buyerFractionWhereHomeDutyAppliesInverse;
}
if (BuyerFirstHomeDutyApplies(buyer))
{
buyerTransferDuty = buyerTransferDuty + totalFirstHomeDuty * buyer.Shares * buyerFractionWhereFirstHomeDutyAppliesInverse;
}
}
stampDutySummaryLineItems.Add(new FinancialResultLineItem($"Buyer {buyer.BuyerNumber}", buyerTransferDuty));
decimal foreignBuyerDuty = GetForeignBuyerDuty(propertySaleInformation.PurchasePrice, buyer);
if (foreignBuyerDuty > 0)
{
feeLineItems.Add(new FinancialResultLineItem($"Buyer {buyer.BuyerNumber} - Foreign Buyers Duty", foreignBuyerDuty));
}
decimal firstHomeOwnerGrant = GetFirstHomeOwnerGrant(propertySaleInformation, buyer);
if (firstHomeOwnerGrant > 0)
{
concessionLineItems.Add(new FinancialResultLineItem($"Buyer {buyer.BuyerNumber} - First Home Owners Grant", firstHomeOwnerGrant));
}
}
// Wrap up categories to be returned
FinancialResultCategory feeCategory = new FinancialResultCategory("Fees", feeLineItems.ToArray());
FinancialResultCategory concessionCategory = new FinancialResultCategory("Concessions", concessionLineItems.ToArray());
FinancialResultCategory stampDutySummaryCategory = new FinancialResultCategory("Stamp Duty Summary", stampDutySummaryLineItems.ToArray());
if (buyerCount > 1 && stampDutySummaryCategory.Total > 0)
{
return(new FinancialResults(new[] { feeCategory, stampDutySummaryCategory, concessionCategory }));
}
else
{
return(new FinancialResults(new[] { feeCategory, concessionCategory }));
}
}
