Stamp Duty Document Guide (Opinions)

• a partnership valuation as at the date of the dissolution (if available); and
• the balance sheet of the partnership as at the date of dissolution together with evidence of current market value of assets.

• a valuation of the partnership as at the date of the conveyance (if available);
• the profit and loss statements for the last three years of the partnership;
• the balance sheet of the partnership showing assets immediately before and after the admission/retirement/change of interest in the partnership; and
• a copy of the partnership agreement.

To be submitted for assessment of duty together with:

• a valuation of the business (if available);
• a stock certificate for the business (if applicable);
• the latest balance sheet and profit and loss statements for the business for the last three years; and
• other evidence of the value of the business if available.

If the business includes intangible property e.g. a trademark, goodwill or intellectual property, located both inside and outside of South Australia, duty is calculated as if the instrument related only to property situated in South Australia. The calculation is based on the consideration or value of the proportion of intangible property applicable to South Australia, whichever is the greater (Refer Division 3). To determine this, the document should be submitted for assessment of duty providing details of:

• the turnover of the business for the last three years;
• the relative extent of income generated by the business in each jurisdiction in which the business is carried on during the last three years;
• the relative extent of the work carried on in each of the relevant jurisdictions; and
• any other relevant factors.

If the parties are related, or the business is transferred for less than market value, a valuation of the business, if available must be produced. If not, the profit and loss statements and balance sheets for the business for the last three years or other evidence of value must be produced.

To be submitted for assessment of duty together with:

• the conveying instrument together with a completed Section 71EI Return; and
• a Stock Certificate for the business (if applicable). If a Stock Certificate is not available when the Agreement is submitted, an estimated stock value must be provided.

To be submitted for assessment of duty together with:

• the completed Application for Transfer of Registration of a Motor Vehicle form; and
• a copy of the stamped Sale of Business Agreement.

This may occur where, for example, the final purchase price is subject to future trading results. If a maximum purchase price is specified, the document can be self determined using RevNet on that basis and a refund sought if it is later ascertained that stamp duty has been overpaid.

If the final purchase price is not specified, the document must be submitted for assessment of duty and an assessment will be issued based on the interim consideration/value. The Commissioner must be advised of the final purchase price when it is known, and a reassessment will be issued.

The Commissioner will retain the document until the final purchase price is advised and all stamp duty paid.

To be submitted for assessment of duty advising the effect of the amendment.

If the amendment effects a conveyance of land, a copy of the original Community Plan and the new Community Plan must be produced.

To be submitted for assessment of duty advising the effect of the amendment: If the amendment effects a conveyance of land, a copy of the original Strata Plan and the new Strata Plan must be produced.

All conveyances of fishing licences must be submitted for assessment of duty. Where the consideration is zero or less than market value, evidence of the value must be produced. A fishing licence can include:

• an abalone licence;
• an aquaculture licence;
• a blue crab licence;
• a Lakes and Coorong licence;
• a marine scale fishing licence;
• a prawn licence;
• a rock lobster licence;
• a shark licence; or
• quota attached to a fishing licence.

A transfer of a fishing boat either by itself or in conjunction with a fishing licence must be submitted for assessment of duty.

To be submitted for assessment of duty:

• where the consideration is zero or less than market value, evidence of value must be produced; and
• if the transaction includes the transfer of a motor vehicle, the Application to Transfer the Registration of a Motor Vehicle form should also be submitted together with the conveyance of the Taxi Plate.

To be submitted for assessment of duty with:

• the stamped document evidencing the transaction.

This conveyance is liable to duty however this will be paid by way of ex gratia payment – refer to Revenue Ruling SDA 002

To be submitted for assessment of duty together with:

• the stamped document effecting or acknowledging, evidencing or recording the trust arrangement; or
• if there is no trust document, evidence of the trust arrangement, eg letters or correspondence between the parties; and
• evidence of payment of the purchase funds by the beneficiary.

To be submitted for assessment if the transfer relates to a split trust or sub trust arrangement with:

• details of why you consider that Section 71(5)(d) should apply.

Refer to the Stamp Duty Document Guide (Self-Determined) Trustee to Trustee for commentary on these transfers.

Refer to the repealed provisions of Part 4 for full particulars regarding the application of this section.

A Section 98 Return Acquisition Statement of Interests in a Land Rich Entity is to be submitted for assessment of duty.

Refer to the provisions of Part 4 for full particulars regarding the application of this section.

A Section102B Return – Acquisition of Interest in a Land Holding Entity is to be submitted for assessment of duty.

If it is believed that Section 67 does apply, the transfers can be stamped using RevNet. For a more detailed explanation of the operation of Section 67 refer to the Stamp Duty Document Guide (Self-Determined).

In circumstances where Section 67 may apply but it is believed that it should not to the particular transaction then the document must be submitted for assessment of duty, with a detailed submission stating why Section 67 is not applicable.

If conveyances are subject to Section 67 and they are being stamped separately or at different times, they must be submitted for assessment of duty together with details of any previous assessments that are part of the Section 67 series.

A conveyance of an exploration tenement must be submitted for assessment of duty. Exploration tenement means:

• an exploration licence granted under the Mining Act 1971;
• an exploration licence granted under the Petroleum Act 2000;
• an exploration permit for petroleum granted under the Petroleum (Submerged Lands) Act 1982; or
• an exploration licence granted under the Offshore Minerals Act 2000.

Refer to Section 71D for full particulars regarding the application of this section and the criteria required for this concession.

This section applies to a transaction effected without creating a dutiable interest which results in a change in the ownership of a legal or equitable interest in three types of property. These are:

• land;
• a business, or part of a business, situated in the state of South Australia; or
• an interest in a partnership.

In this type of situation the parties are liable to complete a statement which becomes the dutiable instrument. Stamp duty is payable on the statement as if it were a conveyance effecting the transaction to which it relates.

Where the Section 71E statement relates to a conveyance of:

• (1) a multi-jurisdictional business or partnership (for consideration or no consideration); or
• (2) a business or partnership and all assets are located in South Australia (for no consideration); or
• (3) an interest in a partnership (for consideration or no consideration);

it must be submitted for the assessment of duty by the Commissioner accompanied by:

• a schedule listing the location and values of the various assets subject to the sale agreement (for 1 above);
• a schedule showing the total sales of the business for the last three years (for 1 above);
• the percentage of the total sales of the business which are attributable to South Australia (for 1 above);
• the latest balance sheet and the profit and loss statements of the business/partnership for the last three years (where the conveyance is for a fractional interest or between related parties, or for no consideration) (for 2 and 3 above).

NOTE: Where the property being transferred by the statement is land, it must be stamped using RevNet. For a more detailed explanation of Section 71E refer to the Stamp Duty Document Guide (Self-Determined).

This section refers to a sale of primary production land as a going concern together with plant and/or equipment and/or livestock and/or stock and/or other property.

To be submitted for assessment of duty together with:

• the transfer and contract for sale and purchase of the property and any other instruments relevant to the transaction; and
• a schedule listing other property and the consideration payable.

To be submitted for assessment of duty together with:

• a submission that includes details of how the error occurred.

Depending on the circumstances, a statement or statutory declarations may be required from the parties detailing the history of the transaction and how the error occurred.

If it is believed that Section 67 applies to a series of transfers, the transfers can be stamped using RevNet. For a more detailed explanation of the operation of Section 67 refer to the Stamp Duty Document Guide (Self-Determined).

In circumstances where Section 67 may apply but it is believed that it should not to the particular transaction then the document must be submitted for assessment of duty, with a detailed submission stating why Section 67 is not applicable.

If conveyances of land are subject to Section 67 and are being stamped separately or at different times, they must be submitted for assessment of duty together with details of any previous assessments that are part of the Section 67 series.

To be submitted for assessment of duty together with:

• a stamped Deed of Family Arrangement (or copy).

To be submitted for assessment of duty together with:

• the stamped document effecting or acknowledging, evidencing or recording the trust arrangement; or
• if there is no trust document, evidence of the trust arrangement, e.g. letters or correspondence between the parties; and
• evidence of payment of the purchase funds by the beneficiary.

To be submitted for assessment if the transfer relates to a split trust or sub trust arrangement with:

• details of why you consider that Section 71(5)(d) should apply.

Refer to the Stamp Duty Document Guide (Self-Determined) Trustee to Trustee for commentary on these transfers.

To be submitted for assessment of duty with:

• the contract for sale and purchase of the property.

A transfer of property pursuant to a contract dated on or before 11 July 2002 will be stamped at the rates applicable at that time.

To be submitted for assessment of duty together with:

• evidence of the value of the land.

This conveyance is exempt from stamp duty if the land being transferred relates to a marriage that has been dissolved or annulled or the Commissioner is satisfied that a marriage or de facto relationship has broken down irretrievably. The conveyance must be pursuant to a Family Law agreement or a Family Law order which provides for the disposition of the property between the parties to the marriage or former marriage or former de facto relationship and no other person, other than a trustee of a superannuation fund (if relevant) takes or is entitled to take an interest in the property in pursuance of the document.

Pursuant to Section 71CA, a transfer of land from a company or trust to a spouse of the marriage or former de facto partner pursuant to a Family Law agreement or Family Law order may be exempt from stamp duty. The transfer must be submitted for assessment together with a copy of:

• the Family Law Order;
• the Family Law agreement; or
• a copy of the trust deed.

Your submission must also advise:

• the character of the property involved;
• the extent that the parties to the marriage own and/or control the company or trust involved (the extent to which the company itself could be said to be an asset of the marriage);
• the identity and role of any other owners or beneficiaries of the company or trust; and
• the relationship between any other persons associated with the transfer and the parties to the marriage.

Refer to the Information Circular No. 30.

This conveyance is exempt from stamp duty if the land being transferred between spouses or former spouses or domestic partners of former domestic partners is an interest in the shared residence or former shared residence and the property does not form part of industrial or commercial premises or land used for primary production. If it does, then the instrument must be submitted for assessment of duty together with a completed Section 71CB Statutory Declaration with advice of the value for:

• the house and curtilage area; and
• the remaining area.

This document can be in the form of:

• an Agreement that effects or acknowledges, evidences or records the creation of a trust arrangement;
• a Deed that effects acknowledges, evidences or records the creation of a trust arrangement; or
• any other document that effects or acknowledges, evidences or records the creation of a trust arrangement.

These documents are commonly known as Declarations of Trust or Acknowledgements of Trust.

Where a document transferring property including land, marketable securities or units has been stamped with ad valorem stamp duty and there is a further document that evidences or records the fact that the transferee took the property or interest in the property as trustee (i.e. the Declaration of Trust or Acknowledgement of Trust), then that further document can be stamped using RevNet – refer to the Stamp Duty Document Guide (Self-Determined).

If a Declaration of Trust does not fit these criteria, it must be submitted for assessment of duty.

The scope of deeds is so wide it is not possible to list all types here, but some common examples that must be submitted for assessment of duty are:

• Deed of Family Arrangement dealing with a deceased estate (and a transfer of land pursuant to a Deed of Family Arrangement);
• Deed of Dissolution of Partnership – see under Agreements;
• Deed of Variation of a Trust which adds new beneficiaries to the trust or results in a resettlement of the trust;
• Deed of Gift; and
• Deed that effects or acknowledges, or evidences or records the creation of a trust arrangement, subject to the criteria listed under Declarations of Trust.

For examples of deeds that must be processed using RevNet, refer to the Stamp Duty Document Guide (Self-Determined).

Note: A Deed formerly chargeable with stamp duty of $10 has been exempt from duty from 1 July 2006. Where a deed that is exempt from duty is required to be relied upon as being 'duly stamped' for other purposes under the Act (e.g. to obtain the benefit of the exemption provisions of Section 71(5)(e)), the relevant deed may be stamped accordingly, however RevenueSA will not insist on an exempt deed being stamped to be accepted as 'duly stamped'.

Up until 4 June 2008, a concessional rate of stamp duty was available on the purchase of a first home under Section 71C. The concession was replaced by the First Home Bonus Grant.

The First Home Concession Scheme does not apply where a conveyance:

• gives effect to a contract entered into on or after 5 June 2008;
• relates to land where a party to the conveyance has on or after 5 June 2008 entered into a contract for the construction of a home on the land; and
• relates to land where the construction of a dwelling house has commenced on or after 5 June 2008.

To be submitted for assessment of duty together with:

• a copy of any valuation of shares made in connection with the transfer; and
• a certified Balance Sheet and detailed Profit Loss statements for the previous three years.

If differing classes of shares have been issued, the rights of each such class must be fully stated and a copy of the Constitution must be produced.

To be submitted for assessment of duty together with:

• a copy of any valuation of shares made in connection with the transfer; and
• a certified Balance Sheet and detailed Profit and Loss statements for the previous three years.

If differing classes of shares have been issued, the rights of each such class must be fully stated and a copy of the Constitution must be produced.

To be submitted for assessment of duty together with:

• a certified copy of the Will of the deceased; and
• a stamped copy of the Deed of Family Arrangement.

To be submitted for assessment of duty together with:

• a stamped copy of the document effecting or acknowledging, evidencing or recording the trust arrangement.

To be submitted for assessment if the transfer relates to a split trust or sub trust arrangement with:

• Details of why you consider that Section 71(5)(d) should apply. Refer to the RevNet guide notes Trustee to Trustee for commentary on these transfers.

To be submitted for assessment of duty together with:

• a copy of any valuation of the units made in connection with the transfer; and
• a certified Balance Sheet and detailed Profit and Loss statements for the previous three years.

If differing classes of units have been issued, the rights of each such class must be fully stated and a copy of the Trust Deed must be produced.

To be submitted for assessment of duty together with:

• a copy of any valuation of shares made in connection with the transfer; and
• a certified Balance Sheet and detailed Profit and Loss statements for the previous three years.

If differing classes of shares have been issued, the rights of each such class must be fully stated and a copy of the Constitution must be produced.

To be submitted for assessment of duty together with:

• a certified copy of the Will of the deceased; and
• a stamped copy of the Deed of Family Arrangement.

To be submitted for assessment of duty together with:

• a stamped copy of the document effecting or acknowledging, evidencing or recording the trust arrangement.

To be submitted for assessment if the transfer relates to a split trust or sub trust arrangement with:

• details of why you consider that Section 71(5)(d) should apply.

Refer to the Stamp Duty Document Guide (Self-Determined) Trustee to Trustee for commentary on these transfers.