Please see Information Circular 75 for details of changes to stamp duty announced in the State Budget 2015-16.
As part of the State Budget 2015-16 stamp duty will be abolished on business transfer instruments executed on or after 18 June 2015. The abolition does not apply to a business transfer executed on or after 18 June 2015 which is pursuant to a contract of sale or other agreement entered into before 18 June 2015.
Duty will continue to be liable on the transfer of a business dated on or after 18 June 2015 until the Statutes Amendment and Repeal (Budget) Bill 2015 is legislated. In the interim, stamp duty will be paid by the Government on taxpayer's behalf by way of ex gratia relief.
Stamp duty will still apply on the transfer of land or motor vehicles included in a sale of business.
Stamp duty is charged on either the market value or consideration, whichever is the greater when there is:
The transaction may also include the sale of goodwill, stock or a motor vehicle and as such these assets, as well as any other assets located in South Australia, form part of the consideration upon which stamp duty is paid.
If the business or partnership includes assets located outside South Australia, these assets are not included when determining the stamp duty chargeable on the transaction.
A written contract containing the terms and conditions of the transaction is usually executed by the parties (ie. vendor and purchaser) and this document must be stamped. Usually it is the purchaser of the business who pays the appropriate stamp duty.
If there is no written contract then a statement and statutory declaration pursuant to section 71E of the Stamp Duties Act 1923 must be completed by the purchaser with all relevant details of the transaction. This statement assumes the status of a contract and is subject to stamp duty in the same manner as that of a fully executed contract. These forms can be obtained from RevenueSA or downloaded from our forms page.
If the transfer of business or partnership relates to, or includes, the transfer of a gaming machine business, including the transfer of any underlying or indirect interest in a gaming machine business, then the gaming machine surcharge may apply. Refer to Circular No. 235 for more information.
Refer to the Stamp Duty Document Guide for details regarding whether your document can be stamped via RevNet by an authorised RevNet user or must be submitted to RevenueSA with a completed Opinion form (this form can be obtained from RevenueSA).
Stamp duty on a conveyance of business or partnership, where the contract is dated after 11 July 2002 (date of State Budget) and is stamped on or after 5 September 2002 (date of assent), is charged as follows:
|Value of the Property||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|
Download the rates chart