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The current legislation, dating from 1923, has accumulated 150 amendments, contains outdated provisions and is cumbersome.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.
- Complete the online feedback form
- Email a response to: SDRConsultation@sa.gov.au
- Post a response to:
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.
For more information