The purchase of property is generally subject to stamp duty, which unfortunately can be a significant cost and must be budgeted for in the transaction.
Stamp duty is payable on transfers of property which include land, which in most cases, covers property sales and businesses.
A number of concessions are detailed in the Stamp Duties Act (e.g. for first home purchasers who meet certain criteria), and other transfers may be exempt (for example, transfers from an estate of a deceased person to a beneficiary under the will).
For all further information regarding stamp duty and to access the stamp duty calculators, visit the Revenue SA website - www.revenuesa.sa.gov.au .
REISA, and other aligned organisations, such as the Property Council of Australia, believe that South Aussies are paying high rates of property tax and we are lobbying for change.