Duties & Taxes

A.C.T.

Stamp Duty
In A.C.T. stamp duty on commercial leases ‘conveyance duty’ is payable on any premium
amount over the threshold of 25 per cent above market rent or rent reserved over the term
of the lease. Rent reserved includes:

• market rent you pay or owe during the lease term
• any reasonable amount you pay or owe for the right to use the land under the lease – for example, rates, services and utilities, turnover rent or administration.

Taxes
GST is generally payable on rent and outgoings for commercial leases. Rent is typically assessable income. Capital gains tax may be assessable on any fee paid for an assignment of a lease or potentially a grant of lease (key-money).

Upon request we can, provide advice regarding stamp duty or assist you or your accountant with legal interpretation regarding duties or taxes. Contact us to find out how we can help.