Mortgage Tools
Stamp duty
Stamp duty is a tax levied on legal documents, typically in the context of the purchase or transfer of assets such as property or shares.
What is stamp duty?
Stamp Duty is a widespread fiscal tool used by many governments around the world.
The amount of stamp duty owed usually depends on the value of the transaction and varies according to jurisdiction-specific regulations. For property transactions, stamp duty is often a significant cost that buyers must consider, as it can represent a substantial percentage of the property’s purchase price. This tax is typically paid by the purchaser and is required to be settled before the legal transfer of ownership can be officially recorded.
In recent years, some governments have introduced exemptions or reduced rates for first-time buyers to encourage home ownership.
Despite its longstanding presence, stamp duty continues to evolve, adapting to changing economic conditions and policy objectives.
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