Stamp Duty on Put/Call Option QLD?

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

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  1. Melbpositivegeared

    Melbpositivegeared Well-Known Member

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    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
     
    Melbpositivegeared, 22nd May, 2016
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    yes
     
    Terry_w, 22nd May, 2016
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  3. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    But only on the option fee.

    Of course full stamp duty will payable on the execution of the contract once the option is executed.
     
    RPI, 22nd May, 2016
    #3
  4. Melbpositivegeared

    Melbpositivegeared Well-Known Member

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    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?
     
    Melbpositivegeared, 25th May, 2016
    #4
  5. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    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
     
    RPI, 25th May, 2016
    #5
    Terry_w likes this.
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