Abolishing Stamp Duty for First-Home Buyers in the ACT

What Is Stamp Duty and Why Does It Matter? Stamp duty is a tax imposed by state and territory governments on property purchases. It is usually a significant upfront cost, calculated as a percentage of the property's purchase price. For many first-home buyers, stamp duty adds thousands of dollars to the cost of buying a home, often making homeownership less accessible. In the ACT, stamp duty can add between 1.4% and 5.5% of the property's price, depending on the home's value. For example, on a...https://thisisjoelhynes.wixsite.com/illawarrabuyersagent/post/abolition-of-stamp-duty-for-first-home-buyers-in-act-what-it-means-for-the-housing-market-and-you