Mortgage Stamp Duty

Mortgage stamp duty is a state tax imposed on the sale value of a property. The name comes from the tax stamp placed on the document upon payment, although a physical stamp is no longer necessary. It is usually paid by the buyer and expressed as a percentage of the purchase value. In Australia, stamp duty is not required by the federal government, but is imposed by individual states on mortgage contracts and other documents. Lease contracts, businesses, sale of goods, and sale of land are all subject to mortgage stamp duty.