Stamp duty

Stamp duty is a general purpose tax that is imposed on various types of documents and transactions relating to property acquisitions such as land, mining tenements, exploration licences, business property and interests in land holding corporations and unit trusts.

It is also imposed on leases of land where valuable consideration in addition to or without rent is given for the lease, policies of general insurance, deeds relating to trusts and the transfer and issue of motor vehicle certificates of registration.

View an overview of these documents and transactions, including rates, concessions and exemptions.

The revenue is paid into the Central Holding Authority of the Territory and is used to meet the costs of essential public services such as education, health, law and order, and public safety.

View further information on the general administration of stamp duty including the period for lodgement of documents and payment of duty, interest and penalties, objection rights and refunds.

Stamp duty was previously imposed  on conveyances of non-land business property such as :

• goodwill
• intellectual property
• statutory licences.

Abolition of stamp duty on a conveyance of non-land property

On 9 May 2023, stamp duty on transfers and other conveyances of non-land property is now abolished.

Furthermore a new stamp duty exemption now applies for goods conveyed with a lease where the lease has nil or nominal value, which often occurs when a small business is acquired.

Stamp duty will continue to apply to conveyances of:

• land and buildings
• mining and petroleum interests
• goods such as plant and equipment when conveyed with an interest in land.

You must continue to lodge these with the Territory Revenue Office (TRO) or processed under the conveyance by return arrangements that conveyancers and solicitors have with the TRO.

Contracts signed before 9 May 2023

If your contract was signed before 9 May, the laws in force at the relevant time will apply. Anti-avoidance rules are in place to ensure the laws can’t be circumvented by replacing an existing contract with a new contract.

Next steps

TRO publications are being updated to reflect the abolition of stamp duty on a conveyance of non-land property.

Contact

For more information contact TRO.