Abolished taxes and duties

Abolished taxes and duties

The following taxes and duties are abolished.

Accommodation levy

Accommodation levy was abolished on 1 July 2000.

Debits tax

Debits tax was abolished in New South Wales (NSW) on 1 January 2002.

Financial institutions duty

Financial institutions duty (FID).

Hire of goods duty

Hire of goods duty was abolished in NSW on 1 July 2007.

Insurance protection tax

Insurance protection tax was abolished on 1 July 2011.

Lease duty

Duty was abolished on lease instruments executed on or after 1 January 2008. Stamping is still required if the document falls under one of the following categories:

  • A lease or agreement for lease in respect of which a premium is paid or agreed to be paid (not including any premium paid or payable for a lease of premises in a retirement village within the meaning of section 5 of the Retirement Villages Act 1999)

  • A lease entered into pursuant to an option if an amount is paid or payable for the grant of the option

  • A transfer or assignment of lease

  • A surrender of lease.

Marketable securities duty

Duty on transfers of marketable securities and commercial fishery shares is abolished from 1 July 2016.

Duty on quoted marketable securities was abolished on 1 July 2001.

Mortgage duty

Mortgage duty is abolished from 1 July 2016.

Duty on mortgages for the purpose of investment housing was abolished on 1 July 2008. Borrowers must be natural persons.

Duty on mortgages for the purpose of owner occupied housing was abolished on 1 September 2007. Borrowers must be natural persons.

Statutory licences

Duty is abolished on transfers of statutory licences or permissions, and gaming machine entitlements from 1 July 2016.

Transfer of land or business duty

Duty on transfers of business assests is abolished from 1 July 2016.

Vendor duty

Vendor duty was abolished in NSW on 2 August 2005.

Last updated: 17 August 2017