What is Stamp Duty?
It is tax, similar to sales tax and income tax collected by the Government, and must be paid in full and on time. If there is delay in payment, it attracts penalty. A stamp duty paid document is considered a proper and legal document and such gets evidentiary value and is admitted as evidence in courts. Documents not properly stamped are not admitted as evidence by the court.
A. Stamp Duty is a State Government tax payable by the purchaser of real estate based upon the purchase price of the property. Depending on individual State legislation this tax is generally paid prior to settlement. You can increase your loan to cover these costs and we will release funds prior to settlement (conditions apply). First time home buyers may be exempt from stamp duty or entitled to a rebate or concession such as the First Home Owner Grant Scheme.
