In N.T. stamp duty on leases remains payable at the same rate as an acquisition of land where valuable
consideration (for example a premium) is payable for the lease. A premium ordinarily excludes rent
and outgoings payable for the use of the property.
Duty is calculated on the amount or value of the consideration payable.
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.