What is stamp duty?
Investing in commercial property, buying land and buying a home can be as equally terrifying as they are exciting due to the red tape and property jargon surrounding the transaction.
One such area is Australian stamp duty.
Put simply, stamp duties are charges on certain documents or transactions, and can be charged as a flat rate, a rate that depends on the value of the deal, or a rate according to the type of document or transaction.
Some Australian regions offer concessions in some cases for first home buyers, land buyers or residential property home owners.
Stamp duty calculators can help you to get an approximate indication of how much you'll expect to pay once you know the purchase price, loan amount, interest rate and a few other particulars about the sale.
Stamp duties can vary greatly between different states and territories, and home buyers and land investors can expect to see the term crop up during the course of their research.
Taking out the guesswork and seeking professional advice for expert guidance is often the easiest way to deal with the process.