Stamp Duty is the fee paid by buyers of real estate to the New South Wales Government when purchasing property. Stamp Duty is payable to the Office of State Revenue (OSR) prior to lodging the Transfer of Land at the Land Titles Office. In many cases, the buyer’s lender will pay the stamp duty amount after settlement, with monetary funds obtained from the loan amount. Where there is no lender involved, the purchaser will be required to pay the stamp duty by way of cheque. This is usually handled by the purchaser’s solicitor who will use the cheque to pay the OSR.
Posted on Feb 11, 2012 | Comments (0)
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