Stamp Duty
Helping you navigate through evolving stamp duty requirements
What is Stamp Duty?
Stamp Duty is a tax imposed by State governments in all Australian States and Territories.
It is more than just a tax on the purchase of your family home. Broadly, it arises on the sale or transfer of a wide range of personal and business related assets.
Which assets are dutiable
The assets that attract duty vary depending on the State or Territory in which they are located. Some of your assets which may be dutiable include:
- Shares and units
- Land and buildings
- Leasehold improvements
- Items fixed to land
- Plant and equipment
- Goodwill
- Intellectual property
- Partnership interests
How much Stamp Duty is payable
Generally, the duty payable when you sell or transfer an asset is a percentage of the consideration paid for, or the market value of the asset (whichever is greater). Duty is imposed on a sliding scale at at rate of up to 5.75%, depending on the consideration or market value of the asset and the jurisdiction in which it is located.
PwC's comprehensive stamp duty calculator can assist you with providing an estimate on the level of stamp duty due for any state or territory within Australia including foreign purchase and premium liability options for land and business transactions.
Who pays
Generally, the person acquiring the asset is liable for any Stamp Duty arising on the acquisition. However this is not always the case.
When do I pay
There are strict time limits for lodging documents and paying your Stamp Duty liability. Penalties and interest may accrue if lodgement and/or payment is not made in time.
The time limits for lodgement and payment vary between jurisdictions, ranging from 30 days to 3 months. The trigger point for a Stamp Duty liability can also vary. For example, a duty liability can arise at the time an agreement evidencing a dutiable transaction is signed or at the time the transaction completes.
What do I need to do
Complying with your Stamp Duty obligations can involve collating the relevant information and lodging the necessary statutory forms, original documents, supporting information and payment with the Office of State Revenue in the relevant jurisdiction. For larger transactions, this process can be complex and it is important to ensure you provide all necessary information within the relevant lodgment time frames.
Can I get an exemption
Various exemptions and concessions apply in each jurisdiction, all of which have very specific requirements. For example, in some jurisdictions you can obtain an exemption when you transfer an asset between entities within a corporate group, as defined in the legislation.
How can we help?
We have expertise in a number of industry areas including infrastructure, energy & utilities, mining, oil & gas, real estate, superannuation and retail.
PwC 365
Download PwC 365 for on-the-go access to insights and publications from our team of stamp duty experts.
Stamp Duty toolkit
Your 'one-stop Stamp Duty shop' with a range of user friendly materials to help you navigate your Stamp Duty needs.
Australian Stamp Duty and Land Tax Rates - as at 1 November 2018
A snapshot of the general Australian Stamp Duty and Land Tax Rates, as well as information about surcharges affecting foreign purchasers or owners of Australian residential land
