Non-commercial transfer duty
From 7 June 2017, a new duty rate applies to non-commercial property transactions
A non‑commercial property transaction is a transaction where the relevant property will be used for residential or rural purposes only.
Declaring your land use – transactions from 18 September 2017
In 2017, the ACT Government introduced the Barrier Free model as part of its tax reform. It applies to transactions which happen on or after 18 September 2017.
Under the Barrier Free model, you have (and your agent has) 14 days to lodge your transfer instrument for title registration with Access Canberra.
On the transfer instrument you’ll need to tick the ‘Residential’ or ‘Rural’ box under ‘Land Use’.
This will be your declaration to the ACT Revenue Office that the land will be used wholly for non‑commercial purposes.
Remember that we will charge you the residential or rural level of rates if you declare a non‑commercial land use.
Giving false or misleading information is a serious offence.
Declaring your land use – transactions before 18 September 2017
If the transaction date of the contract is on or after 7 June 2017, but before 18 September 2017, you need to declare your land use as residential or rural in the SmartForm. The transaction date is the date of the grant, transfer or agreement for transfer – whichever comes first (not the settlement date).
The SmartForm must be completed:
- within 90 days of the transaction date, or
- for an off-the-plan agreement, within 14 days of whichever comes first:
- the agreement is completed
- the buyer’s interest is transferred
- it’s been one year since the date of the agreement, or
- a Certificate of Occupancy and Use has been issued.
You will still need to tick the ‘Residential’ or ‘Rural’ box on the transfer instrument when you lodge it for registration.
- Transfer form
- Buyer Verification Declaration
- Taxation Administration (Amounts Payable – Duty) Determination 2017 (No 1) – DI2017-79
- Conveyance Duty Calculator
New duty rate
Value of Non-Commercial Property
|up to $200,000||$20 or $1.40 per $100 or part thereof, whichever is greater|
|$200,001 to $300,000||$2,800 plus $2.40 per $100 or part thereof by which the value exceeds $200,000|
|$300,001 to $500,000||$5,200 plus $3.80 per $100 or part thereof by which the value exceeds $300,000|
|$500,001 to $750,000||$12,800 plus $4.78 per $100 or part thereof by which the value exceeds $500,000|
|$750,001 to $1,000,000||$24,750 plus $6.30 per $100 or part thereof by which the value exceeds $750,000|
|$1,000,001 to $1,454,999||$40,500 plus $6.80 per $100 or part thereof by which the value exceeds $1,000,000|
|$1,455,000 and over||A flat rate of $4.91 per $100 applied to the total transaction value|