Stamp Duty in Australia

7:23 PM

Stamp duty is a necessary compulsion in Australia, and we all know that after death, taxes are the only other certainty. Before moving ahead, let us understand what stamp duty is and who introduced it. Stamp duty is a tax levied on certain documents over the purchase of property, cars, assets, and gifts. In other words if you want the government to recognize you as the owner of any asset you are bound to pay stamp duty and register yourself as the owner of the asset to the government. These taxes in Australia are not levied by the Australian Federal Government, but by the respective state governments on certain documents and this is the reason why stamp duty in Australia varies from state to state. Here we have discussed stamp duty for Queensland and South Australia for the first time home buyers.

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