What is stamp duty?

Stamp duty is a form of tax that you pay to the government for getting an interest in the land. In other words, it is a form of tax that you must pay if you are a buyer. The stamp duty is assessed based on the value of your land, the more expensive the purchase price, the higher the stamp duty. However, depending on your circumstance and the intended use of the property, you may be able to claim a concession or even exemption from paying the stamp duty. For example, if you are a first home buyer purchasing a home to live in as your principal place of residence, you may be able to claim a full concession if your purchase price is lower than a certain threshold.

You should refer to the Office of State Revenue for further information. They also have a calculator that you can use to calculate your stamp duty.