Stamp duty is a tax imposed by state governments in Australia on the purchase of assets such as real estate. There are many factors involved in determining the cost of stamp duty for a property. These include:
The state you’re buying in – All states have different methods of calculating stamp duty so the amount will differ.
The price of the property – In general, the cheaper the property is the less stamp duty you will pay.
The type of home you’re buying – Vacant land will have less stamp duty compared to an established home.