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This article was prepared by Go To Court Lawyers, Australia's largest legal service. For legal advice specific to your situation, call 1300 636 846.
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.
Legislation
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.
faqs: - question: 'What types of transactions are considered dutiable in South Australia?' answer: 'Dutiable transactions in South Australia include the purchase of property or land, motor vehicles, unit trust transfers, life and general insurance, and commercial transactions or assets. Under Section 100 of the Stamp Duties Act 1923, stamp duty is imposed whenever a person gains an interest in property or a commercial asset of value. If you are unsure whether your specific transaction attracts stamp duty, Revenue SA can provide guidance or you can seek legal advice.' - question: 'How is stamp duty calculated on property purchases in South Australia?' answer: 'Stamp duty on property purchases in South Australia is calculated based on the purchase price or market value of the property, whichever is greater. The rate is not a flat fee but rather a tiered scale, meaning higher-value properties attract a higher duty amount. Revenue SA provides online calculators and fee schedules on their website to help buyers estimate the stamp duty payable before completing their transaction, making it easier to budget accordingly.' - question: 'How much does it cost to get legal advice about stamp duty in South Australia?' answer: 'Go To Court Lawyers offers a fixed-fee consultation for $295, which gives you up to 30 minutes with a qualified lawyer to discuss your stamp duty concerns. This is a cost-effective way to understand your obligations, explore potential exemptions or concessions, and clarify whether your transaction is dutiable. Having early legal advice can help you avoid unexpected costs or compliance issues when completing a property or commercial transaction in South Australia.' - question: 'What can a lawyer do to help with stamp duty matters in South Australia?' answer: 'A lawyer can review your transaction to determine whether it is dutiable under the Stamp Duties Act 1923 and identify any applicable exemptions or concessions. They can assist with preparing and lodging the correct documentation with Revenue SA, advise on duty payable for complex commercial dealings, and help resolve disputes if you believe an incorrect assessment has been issued. Legal guidance is especially valuable for business transactions, property transfers between related parties, or unusual ownership structures.' - question: 'Are there time limits for paying stamp duty on a property purchase in South Australia?' answer: 'Yes, stamp duty in South Australia must generally be paid within 60 days of the dutiable transaction occurring. Failing to pay on time can result in penalties, interest charges, and potential complications with the transfer of title. For property conveyances, stamp duty is typically paid as part of the settlement process. It is important to factor stamp duty into your settlement timeline and finances early to avoid delays or additional costs associated with late payment.' ---