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What is Stamp Duty?

What is Stamp Duty?

Read this comprehensive guide to understand what stamp duty is, circumstances where it applies, and how it could affect your business.

18th April 2016

What is Stamp Duty?

Stamp duty (also known as transfer or general duty) is a tax on certain written documents (instruments) and transactions. Stamp duty varies from state and territory.

What transactions are applicable to Stamp Duty?

Some of the transactions which are taxed include:

  • motor vehicle registration and transfers
  • insurance policies
  • leases and mortgages
  • hire purchase agreements
  • transfers of property (such as businesses, real estate or certain shares).

Please note that this is a general non-exhaustive list.. As it is a state and territory tax the type of instruments and rate vary.

Concessions or Exemptions

There are certain concessions and exemptions applicable depending on the nature of the transaction. However for transfer of business, lease or sale of shares there are no concessions or exemptions which apply.

For more information about duties that apply to your business refer to:

  • ACT Revenue – Duties
  • NSW Office of State Revenue – Taxes and duties
  • NT Territory Revenue – Stamp Duty
  • QLD Office of State Revenue – Duties
  • RevenueSA – Stamp Duty
  • TAS State Revenue Office – Motor vehicle , Insurance and Property transfer duties.
  • VIC State Revenue Office – Land transfer duty
  • WA Office of State Revenue – Stamp Duty

Unsure where to start? Contact a LawPath consultant on 1800LAWPATH to learn more about customising legal documents, obtaining a fixed-fee quote from our network of 600+ expert lawyers or any other legal needs.

Author
Jackie Olling

Jackie is the Content Manager at Lawpath and manages the content team. She has a Law/Arts (Politics) degree from Macquarie University and is an admitted solicitor in the Supreme Court of NSW. She's interested in how technology can help shape the future legal landscape.