Rewriting the Stamp Duties Act 1923

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Consultation has concluded

Consultation Process


Now Closed

This online engagement was hosted on YourSAy from 1 July 2019 to 26 July 2019. Below is a record of this engagement.

We are reviewing the Stamp Duties Act 1923 and you are invited to have your say about how you think it could be improved.

What is being decided?

The current legislation, dating from 1923, has accumulated 150 amendments, contains outdated provisions and is cumbersome. We want to reduce complexity and facilitate improved compliance with the Act.

The Rewrite is not an opportunity to alter existing Government policy which underpins the current revenue base arising

Consultation Process


Now Closed

This online engagement was hosted on YourSAy from 1 July 2019 to 26 July 2019. Below is a record of this engagement.

We are reviewing the Stamp Duties Act 1923 and you are invited to have your say about how you think it could be improved.

What is being decided?

The current legislation, dating from 1923, has accumulated 150 amendments, contains outdated provisions and is cumbersome. We want to reduce complexity and facilitate improved compliance with the Act.

The Rewrite is not an opportunity to alter existing Government policy which underpins the current revenue base arising from stamp duty. In other words, the Rewrite is intended to be revenue neutral, with the aim only to reduce complexity and facilitate improved compliance with the Act.

The intended outcome of this project is to amend or abolish parts of the Act which are counterproductive to business in terms of rules and processes, compliance, competitiveness or are otherwise redundant.

As part of this review, a discussion paper has been developed to help identify opportunities for legislative improvements.

We are seeking feedback on how we can:

  • consolidate and simplify the Act.
  • remove archaic language and Latin references by adopting a plain English style.
  • clarify existing complex provisions.
  • convert “stamp duty” from an instrument-based tax to a transactional-based “duties” tax, (based on the format, structure, flow and transaction-based philosophy of the NSW Duties Act 1997).

How can your input influence the decision?

Your input will help guide the rewriting of the act and ensure the issues that matter to you are considered and used to help shape this important legislation.

Get involved

Read the discussion paper and view the current Stamp Duties Act 1923 and tell us what you think:

Stamp Duty Rewrite Consultation
GPO Box 1353
ADELAIDE SA 5001

Remember, the Rewrite is not an opportunity to alter existing Government policy which underpins the current revenue base arising from stamp duty.

What are the next steps?

Your feedback will be provided to the Stamp Duty Rewrite Team. All comments received, along with feedback from industry, will be taken into consideration in the drafting of the Bill.

There will be a further round of consultation once a draft Bill has been developed.

Once the consultation process is complete, RevenueSA will prepare the appropriate drafting instructions to the Office of Parliamentary Counsel for preparation of the final Bill to be presented in the Parliament of South Australia to achieve Royal Assent.

Contact

For more information

Email: SDRConsultation@sa.gov.au

Closing date: 5pm Friday 26 July 2019




Background


Now Closed

This online engagement was hosted on YourSAy from 1 July 2019 to 26 July 2019. Find out more about the consultation process. Below is a record of this engagement.


The current legislation, dating from 1923, has accumulated 150 amendments and is cumbersome to navigate and understand. Cost savings are expected to businesses and end-users associated with ease of compliance with the legislation.

The Rewrite of the Act is being undertaken to:

  • reduce compliance costs for taxpayers.
  • facilitate the efficient administration of the legislation.
  • introduce an improved structure and a contemporary drafting style that is easy to understand to provide certainty to taxpayers in relation to their duty obligations.
  • consolidate and simplify the Act post the abolition of various stamp duties over recent years.
  • remove archaic language and Latin references by adopting a plain English drafting style.
  • convert “stamp duty” from an instrument-based tax to a transactional- based “duties” tax, similar to other Australian jurisdictions; and
  • take the opportunity to clarify existing complex provisions (without altering the existing underlying policy).

For further information read RevenueSA’s stamp duty Revenue Rulings and Information Circulars and view the current Stamp Duties Act 1923.

Consultation has concluded