Stamp Duty Rates
Stamp Duty Based on the Purchase Price or Market Value, whichever is higher
|
| Every $100 or part thereof of the first $180,000 |
$1 |
| Every $100 or part thereof of the next $180,000 |
$2 |
| Every $100 or part thereof of the remainder |
$3 |
Duty on Duplicate
Duty on duplicate is $2. This additional amount will be added to the stamp duty payable.
As announced in Budget 2011, duty on duplicate document executed on and after 19 February 2011 has been removed. If the document is executed before 19 February 2011, duty on duplicate remains payable.
Stamp Duty Computation
An example of the computation of stamp duty is as follows :
If the Purchase Price is $1,200,110, (round up to nearest hundred = $1,200,200)
|
| Every $100 or part thereof of the first $180,000 |
($180,000 / $100) x $1 |
$1,800 |
| Every $100 or part thereof of the next $180,000 |
($180,000 / $100) x $2 |
$3,600 |
| Every $100 or part thereof of the remainder |
($840,200 / $100) x $3
|
$25,206 |
| Stamp duty payable |
$30,606 |
Nominal Duty
Stamp duty is to be paid on first document before nominal duty can be charged on subsequent document(s) executed in relation to the same sale transaction. Subsequent document(s) executed in relation to the same sale transaction is subject to a nominal duty of $10.
As announced in Budget 2011, nominal duty has been removed for subsequent document executed on and after 19 February 2011. If the subsequent document is executed before 19 February 2011, nominal duty remains payable.