STAMP DUTY

A Government tax on the sale of real estate, calculated according to the sale value. It is a tax on specified classes of documents. The classes most common to real estate are:

• an agreement or option
• an agreement for sale or conveyance or exchange of property.
• the completion or confirmation of title.
• a conveyance
• a lease
• a mortgage
• a transfer of property
• a transfer or assignment or mortgage.
• a transfer to beneficiary
• a conveyance by apparent to real purchaser.
• a conveyance in conformity with agreement.
• a conveyance following foreclosure decree.
• a conveyance to or from joint tenants
• a conveyance subject to an option
• a foreclosure order
• an insurance policy.

Stamp duty must be paid before a contract is legal. For example, a court will not recognise a contract on the sale of a house unless stamp duty is paid.

Stamp duty calculator on the sale or transfer of land:

see

www.nsw.osr.nsw.gov.au/taxes/transfer_land/calculator/