Who Should Pay Stamp Duty
Check the terms of the
document (e.g. tenancy agreement) to determine who is contractually required to
pay the Stamp Duty. When the terms do not state who is liable, the party to
pay Stamp Duty will follow that as specified in the Third Schedule of the Stamp Duties Act.
Terms of the Agreement
The party who is liable to pay Stamp Duty is usually stated in the agreements. For example, if you rent a property, the tenancy agreement should state who is liable to pay Stamp Duty.
Stamp Duties Act
When the terms of the document do not state who is liable to pay Stamp Duty, the party to pay Stamp Duty will follow that as specified in the Third Schedule of the Stamp Duties Act.
| Types of Documents | Party to Pay Stamp Duty |
|---|
| Conveyance duty for documents such as: |
- Sale and Purchase Agreement
- Buyer's Stamp Duty
- Additional Buyer's Stamp Duty
| Purchaser / Transferee |
- Sale and Purchase Agreement
- Seller's Stamp Duty (if applicable)
| Seller / Transferor |
- Document of Transfer (where contracts and agreements are not applicable)
- Transfer of property by way of gift
- Distribution of assets
| Transferee |
- Trust Deed / Declaration of Trust
- Settlement
| Beneficiary / Trustee |
- Partition of property
- Exchange of property
| Parties involved in the partition and exchange |
| Lessee |
- Novation or Assignment of Lease with additional consideration
| Incoming tenant |
- Surrender of Lease with payment
| Landlord |
| Lease duty for documents such as: |
- Lease or Tenancy Agreement
- Agreement for Lease
- Agreement for Variation of Lease
- Acceptance to the Letter of Offer
| Lessee or Tenant |
| Mortgage duty: |
| Mortgages for Properties | Mortgagor |