What is stamp duty or transfer duty?
Stamp duty (called transfer duty in Queensland, Tasmania and Western Australia) is a tax levied by all state and territory governments in Australia on the purchase of a property. It is paid by purchasers and it usually needs to be paid on or before the settlement date (the date when your purchase or sale is completed) of your property purchase. In Tasmania, you have up to 3 months after settlement to pay transfer duty.
The rate of duty you will pay is linked to the value or purchase price of the property. The revenue office is each state or territory administers stamp or transfer duty and offers a calculator for assessing what it will cost on a particular property.
Qld: https://www.osr.qld.gov.au/duties/transfer-duty/index.shtml (encrypted site)
There are also stamp duty or transfer duty concessions available in some states and territories for first home buyers or for properties below certain thresholds. Please refer to the following links:
Qld: https://www.osr.qld.gov.au/duties/transfer-duty/exemptions-and-concessions/home-transfer-duty-concession-rates.shtml (encrypted site)