Changes to the Stamp Duties Act 1923 the SDA

There were various amendments to the SDA which have been outlined below. 
Extension of the stamp duty concession for purchases of “off-the-plan” apartments

The stamp duty concession for purchases of “off-the-plan” apartments has been extended until 30 June 2017. The concession will now apply to all “off-the-plan” apartment developments in South Australia. Previously, only apartments in the CBD and inner-city suburbs were eligible for this concession.

Removal of the prescribed goods provisions in the Stamp Duties Act 1923 (the “SDA”)

From 1 July 2016, stamp duty will be removed from all goods, whether those goods are part of an arrangement that includes a dutiable land transaction or a landholder transaction. 

Amendment to Section 67 of the SDA

This amendment will clarify the scenario where a purchaser acquires property from two or more independent arm’s length vendors. The amendment will state that the value of these properties will not be aggregated to determine the total stamp duty liability and will take effect from the date of assent.

Amendment to Section 71(5)(j) of the SDA – land purchased by charitable and religious associations

This amendment will ensure that all trustees that hold eligible land as trustee of an eligible land trust qualify for the stamp duty exemption. The amendment will clarify that the exemption is available to purchases and gifts of property, that are to be used wholly for charitable and religious purposes.