Just like you pay stamp duty on land or house purchase, you have to pay it on buying a new or used vehicle. The amount of car stamp duty also depends on the state or territory where you live in Australia. It is the fee applied by a state or territory government to any official documentation. Most government bodies add fees for vehicles priced above a particular threshold. The government charges this fee for the process of registering the vehicle you purchased in your name. The amount you pay as the stamp duty is influenced by several factors like the vehicle value and the place of its registration.
The vehicle registration can be rejected if you fail to make this duty payment. Car buyers are entitled to a few stamp duty exemptions based on where they live in Australia. If you want to get an idea of the stamp duty on your new or used vehicle, you can use a car stamp duty calculator. You will be subject to penalties if you are caught driving a vehicle that is not registered. A buyer will be eligible for a stamp duty refund if they return the vehicle to the dealership within three months.
You have to pay stamp duty when you purchase land, a house, a vehicle, or assets for business in Australia. Also known as transfer duty, it is one of the main revenue sources for the state and territory governments in the country. And each state and territory has its own formulas to calculate this tax. With the help of a user-friendly stamp duty calculator, you can get an idea about the duty that needs to be paid for purchasing a particular property in the state or territory where you live.