Stamp duty is the tax governments place on legal documents, usually in the transfer of assets or property. Governments impose stamp duties, also known as stamp taxes, on documents that are needed to legally record certain types of transactions.

What is the meaning of stamp duty?

Stamp duty is a state levy paid to register a document, typically an agreement or transaction paper between two or more parties, with the registrar. Usually, it is a fixed amount depending on the nature of document or is charged at a certain percentage of the agreement value stated in the document.

What is stamp duty easy meaning?

Stamp duty is tax that state and territory governments charge for certain documents and transactions. You'll need to pay stamp duty for things like: motor vehicle registration and transfers. insurance policies.