Dec 04, 2015 / News

Property and Construction

Important Stamp Duty Amendments Become Law

The Statutes Amendment and Repeal (Budget 2015) Act 2015 has been assented. 

The State budget changes which were introduced earlier this year on 18 June 2015 have now passed through parliament on Thursday 26 November 2015.  The changes mean that stamp duty has been abolished on the transfer of non-realty property. As a result, these transactions no longer need to be stamped or lodged with Revenue SA effective from 18 June 2015.

Examples of non-realty property transactions include, but are not limited to:

  • transfer of a business
  • transfer of a partnership interest
  • transfer of shares in a private company

Real property transactions which remain subject to Stamp Duty include, but are not limited to:

  • land (including interests in land)
  • fixtures to land in South Australia
  • prescribed goods