Join Australia's most dynamic and respected property investment community

Stamp Duty on Put/Call Option QLD?

Discussion in 'Accounting & Tax' started by Melbpositivegeared, 22nd May, 2016.

  1. Melbpositivegeared

    Melbpositivegeared Well-Known Member

    Joined:
    23rd Jan, 2016
    Posts:
    72
    Location:
    Melbourne
    Hey guys,

    This seems to be a 2 sided argument - If an option has both a put and call component, in QLD, does this trigger stamp duty?

    Cheers
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    9,045
    Location:
    Sydney
    yes
     
  3. RPI

    RPI Property Lawyer, Town Planner Business Member

    Joined:
    19th Jun, 2015
    Posts:
    716
    Location:
    Brisbane
    But only on the option fee.

    Of course full stamp duty will payable on the execution of the contract once the option is executed.
     
  4. Melbpositivegeared

    Melbpositivegeared Well-Known Member

    Joined:
    23rd Jan, 2016
    Posts:
    72
    Location:
    Melbourne
    So how does this work? If my option fee is only $15k I pay a small amount of stamps?

    Or do you mean getting my trust stamped?
     
  5. RPI

    RPI Property Lawyer, Town Planner Business Member

    Joined:
    19th Jun, 2015
    Posts:
    716
    Location:
    Brisbane
    No trust stamping in QLD.

    $15k is a big option fee compared to what we normally see ($1k is usual)

    On $15k stamps would be $150 in QLD
     
    Terry_w likes this.