Stamp Duty on Transfer of Units in a Unit Trust
UPDATE
Please see Circular 255 for details of changes to Stamp Duty announced in the State Budget 2005-2006.
The transfer, either by way of sale or gift, of units in a unit trust that is not quoted on a recognised Stock Exchange is subject to stamp duty based on the market value or consideration of the units, whichever is greater. The rate of stamp duty charged is described in the table at the bottom of this page.
The transfer of units not by way of sale or gift may be exempt from stamp duty varies depending on the nature of the transaction.
What is required?
The transfer document must be stamped. If no transfer document exists, the Unit Register can be stamped.
The types of unit transfers listed below can be stamped by an authorised RevNet user via RevNet (if you are not an authorised RevNet user contact RevenueSA for more information). All of these unit transfers are exempt from stamp duty:
- Further issue - pro rata
- In Specie Distribution
- Pursuant to a Will or Intestacy
- Redemption - Pro Rata
- Trustee to Trustee
You can refer to the Stamp Duty Document Guide for more detailed notes on these document types.
All other transfers of units are required to be presented to RevenueSA to have the appropriate stamp duty determined. The unit transfer must be submitted with a completed Opinion form, which can be obtained by RevenueSA, together with:
- a copy of any valuation of the units made in connection with the transfer. Refer to Circular No 166; or
- a certified Balance Sheet and detailed Profit and Loss Statements for the previous three years; and
- if different classes of units have been issued, the rights of each class must be fully stated and a copy of the Trust Deed must be produced.
Rate of Stamp Duty
Stamp duty on the transfer, either by way sale or gift, of units not quoted on a recognised stock exchange are charged as follows:
| Where value of the property conveyed | Amount of Duty |
|---|---|
| Does not exceed $12,000 | $1.00 for every $100 or part of $100 |
| Exceeds $12,000 but not $30,000 | $120 plus $2.00 for every $100 or part of $100 over $12,000 |
| Exceeds $30,000 but not $50,000 | $480 plus $3.00 for every $100 or part of $100 over $30,000 |
| Exceeds $50,000 but not $100,000 | $1,080 plus $3.50 for every $100 or part of $100 over $50,000 |
| Exceeds $100,000 but not $200,000 | $2,830 plus $4.00 for every $100 or part of $100 over $100,000 |
| Exceeds $200,000 but not $250,000 | $6,830 plus $4.25 for every $100 or part of $100 over $200,000 |
| Exceeds $250,000 but not $300,000 | $8,955 plus $4.75 for every $100 or part of $100 over $250,000 |
| Exceeds $300,000 but not $500,000 | $11,330 plus $5.00 for every $100 or part of $100 over $300,000 |
| Exceeds $500,000 | $21,330 plus $5.50 for every $100 or part of $100 over $500,000 |
Click here to go to the on-line calculator
Download the rates chart here.
This page was last reviewed 7 October, 2008
