Transfer duty is a state based tax based on the purchase price or market value of the property. First home buyers and home buyers can obtain a concession on the duty they have to pay. The Office of State Revenue is the Queensland government department in charge of collecting transfer duty. Essentially duty is due 30 days from the date the contract goes unconditional. This means if there is longer than 30 days between the last clause being due and settlement there may be interest payable at the time of settlement. Please be advised we have an obligation to have cleared funds before we settle a property. This means we must collect a bank cheque for the full amount at settlement or have funds in our account to cover the duty and any interest that has accrued. Call us to obtain a calculation of the transfer duty amount or to obtain a concession form to see if you are eligible for the first home or home concessions.