04
Buying
What is stamp
or transfer duty?
Stamp duty is a tax imposed on numerous acquisitions,
including selling real estate, cars and assets belonging
to a business.
In the case of real estate the purchaser is the one who pays the tax. It is a legal
requirement for stamp duty to be paid within 30 days of the settlement date. All
transfers of land, or sales of property, including gifts of property attract a duty, but
there are a few exceptions to this, including:
Pensioners Young farmers
Deceased estates Principle place of residence
First home buyers Off-the-plan sales
Family farms
As stamp duty isn’t a tax levied by the federal Government, the amount of stamp duty
paid changes from state to state. It’s worth researching the rate for your home state.
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