Paying taxes is a fact of life for Australian Investors. Whether you purchase a car, real estate or other assets, the seller or the purchaser pays tax in some form, depending on the value of the transaction. For property transactions, this is called Stamp Duty.
Stamp Duty is a legal tax requirement that needs to be paid within 30 days of the property transaction or settlement. The money collected from Stamp Duty is then used to maintain public services, such as education, healthcare and public safety.
Stamp Duty is required in property transactions, however, certain exceptions are made for certain states, including concessions for pensioners, first home buyers, farmers, off the plan and principle place of residences.
How much is Stamp Duty?
Stamp Duty rates vary for every State and Territory. Visit their respective government links here:
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