Stamp Duty is the tax you pay on legal documents.

Stamp Duty is generally applied to real estate, cars, shares, business assets, loans, gifts and some insurance policies.

It is a good idea to have stamp duty in mind when setting your budget.

The more expensive the property, the higher the stamp duty, so do your research.

Depending on the transaction, it is generally the purchaser or the buyer who pays the stamp duty.

In the case of property, it is the buyer who pays the tax.

Stamp Duty on Investment Properties must be paid within 30 days of the settlement or interest or a penalty may be incurred.

If you’re working with a solicitor or conveyancer, they will pay the stamp duty on your behalf.

Depending on your loan/lender, stamp duty may be included in the amount that you borrow.

There are also various concessions applied with regards to stamp duty, however these vary from state to state, therefore you will also need to do some research.

It is a good idea to do your research thoroughly, because of the  many different rules and regulations around stamp duty. There are also various stamp duty calculators that you can source to assist you when doing your research.

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