Stamp Duty in South Australia
Stamp duty is a fee charged on any property transfer or commercial dealing that falls into the classification of a ‘dutiable’ transaction. In South Australia, it is regulated by the state government though Revenue SA. This page deals with stamp duty in South Australia.
The Stamp Duties Act 1923 and the Stamp Duties Regulations 2013 are the main legislation regulating stamp duty in South Australia. However, it is important to note there are several other South Australian Acts and Regulations that allow for stamp duty changes, exemptions, and concessions.
Paying stamp duty
Most commonly stamp duty is payable on house and car purchases. However, stamp duty is also payable on certain business transactions, dealings of a commercial nature, and insurance.
Stamp duty is payable either at a pre-determined flat rate or at a rate based on the value of the transaction, depending on the type of transaction. For example, the amount of stamp duty payable on a house purchase is calculated based on the purchase price.
The Revenue SA website has online calculators and fee schedules to help you calculate the stamp duty fees payable on your transactions.
What is a dutiable transaction?
In South Australia, stamp duty is only imposed on property and commercial dealings that are deemed to be dutiable.
Section 100 of the Stamp Duties Act 1923 sets out the transactions that are dutiable. Essentially, this section imposes stamp duty where a person is gaining an interest in property or a commercial asset of value.
RevenueSA considers the following types of property dealings to be dutiable transactions:
- purchase of property or land
- purchase of motor vehicles
- unit trust transfers
- life and general insurance
- commercial transactions or assets.
If you are unsure whether your transaction is dutiable for stamp duty purposes, further information can be found on the Revenue SA website.
Exemptions from stamp duty
There are a number of exemptions from stamp duty that apply in South Australia. Generally, these exemptions are based on the relationship between the parties involved, the type of property being transferred, or where the government has decided to no longer charge stamp duty on a specific type of transaction.
For example, some transfers between a husband and a wife will be exempt from stamp duty. Other common exemptions include leases entered after 1 July 2004 and mortgages dated after 1 July 2009. `
In addition, business transfers and share transfers undertaken after 18 June 2015 are exempt from stamp duty unless they form part of an agreement entered into prior to that date.
Concessions to stamp duty in South Australia
The South Australian Government provides full or partial concessions on some transactions. These concessions do change quite frequently and often have strict conditions attached.
There is a full stamp duty concession that applies to off-the-plan apartments purchased between 31 May 2012 and 30 June 2014 and a partial stamp duty concession that applies to those purchased between 1 July 2014 and 30 June 2018. Purchases made after 1 July 2018 do not receive a concession.
There are various stamp duty concessions that apply when applying to register or transfer registration of a motor vehicle. Situations where concessions exist include where:
- a person is incapacitated
- the transfer is between spouses, partner or former partners
- motor vehicles are being dealt with as part of a deceased estate
- stamp duty has been paid in another state or territory
- the vehicle is an asset held on behalf of the Crown
Changes to the budget of the South Australian government often also affect the exemptions and concessions available. As the concessions change quite frequently, it is best to obtain legal advice to find out if you qualify and what conditions will apply.
Who regulates stamp duty in South Australia?
Stamp duty in South Australia is paid to and regulated by the South Australian Department of Treasury and Finance through Revenue SA.
If you require legal advice or representation in any legal matter, please contact Go To Court Lawyers.