Changes to conveyance duty in the ACT
15 December 2016
Changes to Stamp Duty in the ACT
On 15 December 2016, the Treasurer introduced reforms to the Duties Act 1999 and other Acts to implement a new system to collect stamp duty.
These changes to how stamp duty is collected, known as the ‘Barrier Free’ model, will make buying property simpler and more efficient because buyers will no longer pay stamp duty before settlement of a property.
The new system will minimise the number of interactions with the ACT Revenue Office, leading to faster turnaround for customers. Buyers will only have to lodge documents once at Access Canberra.
The implementation of the Bill will be timed with the launch of the ACT Revenue Office’s new IT system. We expect this to be in the later part of 2017.
For more information about changes to stamp duty please click here.