Fixed Duty
| If a document is executed for the genuine intention to create a trust and there is no change in beneficial interest in the property |
Duty |
$10 |
Full Duty
Full duty rates will be imposed if there is a change in beneficial interest. The following circumstances are some examples when full duty is imposed:
- Where property is settled and transferred to a trustee
- Where there is a change of beneficiary under a trust
- Where a gift is involved (voluntary declaration of trust)
The stamp duty rate is as follows: -
Value of property at the time of transfer of property
|
| 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 |
Besides the stamp duty payable, adjudication and valuation fees will be charged. The adjudication and valuation fees will remain payable even though you subsequently decide not to proceed with the intended transaction.