Stamp Duty is payable by the Buyer.  You can check the Stamp Duty payable by going to the Stamp Duty page at http://www.osr.qld.gov.au/calculators/index.shtml or by contacting our office. Your bank will also advise you about seperate Stamp Duty on your loan.

Stamp Duty payable on Contracts for property varies according to the purpose for which you are buying the property.

Investment Properties and Vacant Land: Stamp Duty payable on Contracts for investment properties and vacant land is charged at a rate that increases as the purchase price goes up (the 'normal rate').

Principal Place of Residence: Stamp Duty on a Contract for a Principal Place of Residence property after 1 August 2004 is charged at 1% up to $300,000.  After that, Stamp Duty is charged at the normal rate.

First Principal Place of Residence: If the residence is your first home, you may apply for an additional concession in the form of a rebate if the dutiable value of the home and land used for residential purposes is less than $500,000 and the Transfer Duty Liability Date is on or after 1 May 2004. 

Futher details of this rebate are available to be downloaded from  http://www.osr.qld.gov.au/taxes/duties/transfer_concession_home_buyers.htm

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