If you’re looking to buy a property, you’ve probably heard people talk about stamp duty, also known as transfer duty. But what is it, and does it apply to you?
Simply put, stamp duty is a tax we pay when buying a house. The exact amount depends on the state or territory you live in and the price of the property you’re buying, and sometimes exemptions apply. On average, Australians pay tens of thousands of dollars in stamp duty. Aside from the purchase price of property, it is generally the second highest cost of buying a property.
The price of your property is a key factor in your stamp duty calculation. Each state and territory has brackets for house prices that determine how much you owe
The exact price of stamp duty takes a few calculations and to help you along with this, we have included below the links to the various State and Territory government revenue website stamp duty calculators.
Revenue NSW
Revenue ACT
State Revenue Office Victoria
Queensland
State Revenue Office Tasmania
Revenue SA
Revenue WA
NT
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