Please see Information Circular 75 for details of changes to stamp duty announced in the State Budget 2015-16.
Stamp duty was abolished on the transfer of non-real property from 18 June 2015. If a unit trust that is not quoted on a recognised Stock Exchange owns real property (land) in South Australia, the transfer of units is liable to stamp duty based on the value of the land in South Australia less any outstanding loan amount against the land.
The rate of stamp duty charged is described in the table at the bottom of this page.
A transfer of units in a unit trust that is not quoted on a recognised Stock Exchange and does not own land in South Australia and entered into from 18 June 2015 is not liable to duty and is not required to be stamped.
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:
You can refer to the Stamp Duty Document Guide for more detailed notes on these document types.
All other transfers of units in a land owning unit trust are required to be presented to RevenueSA to have the appropriate stamp duty determined. The unit transfer must be submitted with a completed Application for Stamp Duty Assessment, which can be obtained by RevenueSA, together with:
If the unit trust holds land in South Australia with a market value of $1 million or greater, the landholder provisions may apply. See the Land Holder Guide to Legislation for further information.
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|
Download the rates chart
Stamp duty on non-residential, non-primary production land ("Qualifying Land") is being phased out. From 7 December 2015 the duty payable was reduced by one-third, with a further one-third reduction from 1 July 2017 (a total reduction of two-thirds). Stamp duty on transfers of non-residential, non-primary production land will be abolished from 1 July 2018.
If the unit trust owns Qualifying Land, the above will apply.
What is Qualifying Land?
Qualifying land means land that is being used other than for residential purposes or for primary production as defined in Section 71DC of the Stamp Duties Act 1923.
The Commissioner will generally rely on land use codes to determine whether he considers land to be residential or primary production land. The land use codes within the following Land Use Code (LUC) headings will be taken to be qualifying land:
Stamp duty on transfers of residential and primary production land will remain unchanged. Vacant land will be considered to be used for primary production or residential purposes in certain circumstances.
What is land used for Residential Purposes?
Land will be taken to be used for residential purposes where it is determined that:
In some cases the zoning of the land will be relevant where the land is unimproved or there are only minor improvements.
A further exception is in relation to land which although coded as residential by the Valuer-General will nevertheless be considered by the Commissioner to be commercial in nature.
This treatment will be consistent with the Local Government zoning of the land. Land uses that fall into this category are Hostels, Hotels, Motels, Serviced Apartments and short term unit accommodation.
What is land used for Primary Production?
Land will be taken to be used for primary production purposes where it is determined that:
The land use codes within the following LUC headings are not considered to be qualifying land: