Hi, For Australia and states OS signifies Offial use which is usually listed at the back of catalogues (except Scott which mentions it does not list the perforated OS, only the later overprinted). Be wary of fakes where values are significantly different from regular examples.
Australia had those plus separate official perfins for the Australian states as well. A single "T" for Tasmania, G/NSW for "Government / New South Wales etc.
Bassett-Hull, the great philatelist and author from the late 19th / early 20th century (when this stamp was issued) tells us that 'OS' stands for 'On Service'.
Many times in forums you will see suggestions that it stands for 'Official Service'. Although the usage was for official government purposes, the easiest way to remember the correct meaning of the letters is to remember 'On Her Majesty's Service' (OHMS) without the "Her Majesty's".
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