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.
|State||Transfer of Business||Sales of Shares|
|ACT||$27,100 + $6.50 per $100, that the value exceeds $750,000||Duty is charged at: 60 cents per $100 or part thereof of the total value of the marketable securities, or $20|
|NSW||$8,990 + $4.50 per $100 that the value exceeds $300,000||Duty is charged at 60 cents per $100, or part of $100, of the dutiable value of the shares or units. A minimum duty of $10 per transfer applies.|
|NT||When the dutiable value exceeds $525 000, but is less than $3 million Stamp Duty rate will be 4.95 per cent of that amount.||N/A|
|QLD||$17,325 + $4.50 for each $100, or part, by which the dutiable value exceeds $540,00||N/A|
|SA||$21 330 + $5.50 for every $100, or part, by which the dutiable value exceeds $500 000||Duty is charged at 60 cents per $100 or part of $100, of the dutiable value of the shares or units.|
|TAS||$27,810 + $4.50 for every $100, or part, by which the dutiable value exceeds $725 000 *This apply to transfers of dutiable property||Generally duty is not applicable to transfer of shares. However there are two exceptions to which duty would be applicable: if the shares are in a Land Rich Corporation; or if the shares are in a company, or are units in a unit trust, that gives the owner the right to occupy land or property in Tasmania (ie a land use entitlement). In this situation you must complete an Acquisition of Land Use Entitlement through Shares or Units statement.|
|VIC||When more than $960,000 5.5 per cent of the dutiable value||N/A|
|WA||$19,665 + $5.15 per $100, or part, by which the dutiable value exceeds $500,000||N/A|
*figures are based on an approx amount of $300,000 – $1m and should not be relied upon.
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
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