What is stamp duty?

Stamp duty or transfer duty is a general tax imposed by the state government on the purchase or transfer of almost any real estate. This includes buying a home, land, or investment property. Since it’s determined by individual state and territory governments, the amount charged, and exemptions may vary.

Does everyone need to pay stamp duty?

If you’re purchasing your first home, you may not have to pay stamp duty under the First Home Owners Concession if you’re eligible.

Please note that Unloan does not participate in the Home Guarantee Scheme, Victorian Homebuyer Fund or other government home-buyer assistance schemes. If you are eligible for the First Home Buyer Grant, these funds cannot contribute to your 20% deposit. Please speak to your conveyancer on how best to approach this.

In addition to this grant, other exemptions and concessions may apply based on specific circumstances, such as being a pensioner or a farmer. We recommend speaking with your solicitor or conveyancer to determine your eligibility.

Your conveyancer or solicitor can arrange to pay stamp duty on your behalf to the relevant state or territory revenue body.

Apart from stamp duty, there are other upfront costs to be aware of. Learn more about the upfront costs to consider before buying a home.

Thinking about purchasing your first home? Here’s where to start.

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This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Please consider seeking financial advice before making any decision based on this information.‍