Stamp Duty (now called just "duty")

The biggest extra that homebuyers pay is "duty".

The duty payable on a median price home in Melbourne is around 5% of the price ( - a huge burden, and a big disincentive to changing houses, but the State Government confirmed in the 2013 budget that it is heavily reliant on this form of revenue-raising)

You can get further detail on this tax from the State Revenue Office website.

(Note: The above link opens in a new window so that the Legal Kits site remains open in the background).

(We expect to add further information to this page).