Stamp Duties
Circular No. 304
STAMP DUTIES - RECOGNISED FINANCIAL MARKETS - STAMP
DUTIES VARIATION REGULATIONS 2008
BACKGROUND
In South Australia a conveyance (including a sale or purchase) of financial products quoted on a recognised financial market is exempt from stamp duty.
Additionally, a company whose shares are quoted on a recognised financial market is excluded from the operation of the land rich provisions of the Stamp Duties Act 1923 (the “Act”).
For the purposes of the Act a recognised financial market means a financial market operated by the Australian Securities Exchange Limited or a financial market of a stock exchange prescribed by regulations.
REGULATION VARIATION
The Stamp Duties Variation Regulations 2008, (No. 211 of 2008) (the "Variation Regulations"), that came into operation on 17 July 2008, prescribe the financial markets of the Australia Pacific Exchange Limited as financial markets that are recognised financial markets, for the purposes of Section 2 of the Act.
The opportunity has also been taken in the Variation Regulations to recognise name changes of the Stock Exchange of Newcastle Limited to National Stock Exchange of Australia Limited and the name of the Fédération Internationale des Bourses de Valeurs to World Federation of Exchanges.
FURTHER INFORMATION
Further information regarding these amendments can be obtained from RevenueSA.
Location
RevenueSA
State Administration Centre
200 Victoria Square East
ADELAIDE SA 5000
Telephone
(08) 8226 3750
Website
Postal
Commissioner of State Taxation
RevenueSA
GPO Box 1353
ADELAIDE SA 5001
Facsimile
(08) 8226 3737
27/6/2008
COMMISSIONER OF STATE TAXATION
