Stamp duty is a tax on written documents (‘instruments’) and certain transactions including motor vehicle registrations and transfers, insurance policies, leases, mortgages, hire purchase agreements and transfers of property (such as businesses, real estate and certain shares).
The rate of stamp duty varies according to the type and value of the transaction involved. Depending on the nature of the transaction, certain concessions and exemptions may be available.
Queensland does not levy duty on leases, marketable securities, credit card and credit business transactions, and the hire of goods.
South Australia does not levy stamp duty on owner-occupied home mortgages and leases.
Tasmania does not levy stamp duty on unlisted securities, leases and the hire of goods.
Victoria does not levy stamp duty on unlisted securities, leases and mortgages.
Western Australia does not levy stamp duty on marketable securities and leases.
The ACT does not levy duty on mortgages.
The Northern Territory does not levy stamp duty on mortgages, marketable securities and the grant and renewal of a lease.
As requirements vary between states and territories, organisations should seek clarification from their local state/territory revenue office.
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