Stamp Duty

What is stamp duty?

Stamp duty is a tax imposed by state or territory governments when you buy certain items, such as a property. The amount of stamp duty you have to pay can vary depending on where the purchase takes place and the value of the property. 

How is stamp duty calculated? 

The amount of stamp duty you pay on a new property purchase depends on the value of your property as well as the state it’s situated in. Stamp duty is usually structured through a flat fee as well as a percentage of the property. This percentage is typically higher for higher priced properties. 

Do you pay stamp duty when selling a house? 

As a buyer of a property, you do not have to pay for stamp duty. This is an upfront cost paid upon the purchase of the property.