MS Excel Stamp Duty calculator

[macca]

Hi all, I'm hoping an Excel guru can help me out here, I need the formula for calculating stamp duty in NSW.

Eg, Cell G1 contains the price of transfer of land or business, Cell G2 needs to show the NSW Stamp Duty payable on that purchase price.

Dutiable Value is More than $300,000 but not more than $1M = $8,990 plus $4.50 for every $100, or part, by which the dutiable value exceeds $300,000; or Dutiable Value is More than $1M = $40,490 plus $5.50 for every $100, or part, by which the dutiable value exceeds $1M.

There's a lot of online calculators but I want the formula in a spreadsheet so if I vary the Purchase Price (cell G1) the Duty Payable (cell G2) recalculates the stamp duty.

Any takers?

[ocd_csv]

Try This

=IF(AND(G1>=300000,G1<1000000),8990+4.5*INT((G1-299901)/100),IF(G1>=1000000,40490+5.5*INT((G1-999901)/100),"NO DUTY"))

[macca]

excellent, thanks champ!!

[pianoman]

I have a similar problem but instead of it being a set amount of dollars per $100 i have 1 cent per 100,1.65 per 100,1.25 per 100 and 1.75 per 100. ive input it as 1/100 and it seems to work...but it only works for my first 2 arguments and leaves out my other 2 arguments which i need as i calculate land tax which obviously cost more between certain ranges?

Any ideas why

the formula im using is =IF(AND($B$3>=600000,$B$3<=999999),500+(1/100)*INT(($B$3-599901)/100),IF($B$3>=1000000,4500+(1.65/100)*INT(($B$3-999901)/100),IF($B$3>=3000000,37500+(1.25/100)*INT(($B$3-2999901)/100),IF($B$3>=5000000,62500+(1.75)*INT(($B$3-4999901)/100),"NO DUTY"))))