Stamp Duty is a State Government tax that is payable on the transfer of a property, and is based on the state in which you are purchasing the property. It is one of those extras that add up when buying your home.
As an incentive for first home buyers, most Australian States and Territories offer Stamp Duty concessions to those purchasing their first property if it's under a certain amount.
To find out more about Stamp Duty and to see if you are eligible for any other government assistance visit www.firsthome.gov.au and click on your home state.
Other Stamp Duty costs to consider:
There may be more than one type of Stamp Duty payable when you buy your home. There's the duty, as described above, based on the property price. This is generally the highest cost associated with the purchase. And then there's Stamp Duty on the Mortgage. The rates vary depending on your State and the value of the property.