Stamp Duty

Nov 17, 2016

Highlighted changes effective from 18 June 2015:

  • Non-quoted marketable securities – stamp duty is abolished on the transfer of shares or units in trusts not listed on a recognised stock exchange, except those which fall within the landholder provisions;  and
  • Non-real property transfers – stamp duty is abolished on transfers of non-real property (ie. property that is not land and buildings). This means that transfers of business assets such as trading stock (excluding land), goodwill, intellectual property, statutory leases and licences no longer attract stamp duty. Only transfers of property involving land will remain liable for stamp duty.

Other changes effective from 1 July 2016:

  • Non-residential, non-primary production real property transfers – stamp duty will be phased out over a 3 year period commencing 1 July 2016. Duty rates will be reduced by a third from 1 July 2016, another third from 1 July 2017 and be fully abolished from 1 July 2018.
  • This concession will apply to all commercial and industrial premises but not apply to primary production land (although that land may be exempt under other provisions).

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