Stamp Duty Explained *For Dummies*
When you go to buy a new or used car, you will have to pay stamp duty. But what is it, and how much does it cost?
Stamp duty is a tax levied by state governments on official documents. You generally need to pay for on the purchase of motor vehicles and other things such as land or shares.
It is a one-off tax paid when transferring ownership, like when buying a new or used car from a dealer or privately.
Rates of stamp duty differ across all Australian states and territories, so look below to see what you’ll have to pay in the state where you are.
Stamp duty rates in Queensland are based on the engine type of the car you are buying.
Hybrid and electric vehicles – 2 per cent ($2 per $100)
1 to 4 cylinders, 2 rotors or a steam vehicle – 3 per cent ($3 per $100)
5 to 6 cylinders, 3 rotors – 3.5 per cent ($3.50 per $100)
7 or more cylinders – 4 per cent ($4 per $100)
(Information correct at time of going to press 05.12.2016)