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South Australian Stamp Duty Relief for Commercial Property Transactions

The State Government brought forward the stamp duty concession reductions. For all commercial property contracts signed after 7 December 2015 the stamp duty would be reduced by one third. Further reductions of one third will take effect on the 1 st July 2017 and 1 July 2018. Thereafter there will be no stamp duty on the transfer of eligible commercial property.

 

 

 

GST - The  going concern exemption.

 

Presently if you buy a business or an occupied commercial property, and both the vendor and purchaser agreed and were both registered, there would be no GST payable. This not only has  the cashflow advantage but also there is no (state) stamp duty levied on the GST.

Tax Facts - Excise

Excise duty is a tax on certain types of goods that are made in Australia including alcohol, tobacco, fuel and petroleum products.

Customs duty is imposed at an equal rate on imported alcohol, tobacco, fuel and petroleum products to ensure imported and local goods are treated consistently. These goods are referred to as Excise Equivalent Goods (EEGs).

Entities who manufacture or store excisable goods must hold an appropriate licence.

MORE: See the Excise section of the ATO web site for more information.

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