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Stamp duty is a form of tax that is levied on documents. Historically, a physical stamp (a tax stamp) had to be attached to or impressed upon the document to denote that stamp duty had been paid before the document became legally effective. More modern versions of the tax no longer require a physical stamp. A tax is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (for example, tribes, secessionist movements or revolutionary movements). ...
An 1862 US 3-cent stamp used for proprietary articles A revenue stamp, tax stamp or fiscal stamp is a type of adhesive label used to collect taxes or fees on various items. ...
Australia
The Federal Australian government does not levy stamp duty. However, stamp duty is levied by the states on various instruments (i.e. written documents) and transactions. The rates of stamp duty vary from State to State, as do the nature of the instruments or transactions subject to duty. Some jurisdictions no longer require a physical document to attract what is now often referred to as "transaction duty." The states and territories of Australia make up the Commonwealth of Australia under a federal system of government. ...
Major forms of duty include the transfer duty on the sale of land, businesses, shares and other forms of dutiable property; mortgage duty; lease duty and duty on the hire of goods. Rebates or exemptions are available from transfer duty and mortgage duty for those purchasing their first home. This article is about the legal mechanism used to secure property in favor of a creditor. ...
This article or section should include material from Tenancy agreement A lease is a contract conveying from one person (the lessor) to another person (the lessee) the right to use and control some article of property for a specified period of time (the term), without conveying ownership, in exchange for...
On 20 April 2005, it was announced by the Treasurers of various States or Territories that they will phase out a number of duties over the course of the next 5 years. However, duty on transfer of ownership in land will remain. April 20 is the 110th day of the year in the Gregorian calendar (111th in leap years). ...
2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ...
Hong Kong According to the Schedule 1 of Hong Kong Stamp Duty Ordinance Cap.117 (in short, SDO), Stamp duty is charged on some legal binding documents which are classified into 4 heads: Hong Kong Stamp Duty Ordinance Cap. ...
- Head 1: All transactions of sale or lease of interests in Hong Kong immovable property.
- Head 2: The transfer of Hong Kong Stock.
- Head 3: All Hong Kong bearer instruments.
- Head 4: Any duplicates and counterparts of the above documents.
In all the civil law systems, immovable property is the equivalent of real property in common law systems, i. ...
Head 2: Hong Kong Stock One of examples is shares of companies which are either incorporated in Hong Kong or listed on the Hong Kong Stock Exchange. This article or section does not adequately cite its references or sources. ...
Incorporation (abbreviated Inc. ...
Other Hong Kong topics Culture - Education Geography - History - Politics Hong Kong Portal The Hong Kong Stock Exchange (Traditional Chinese: , also 港交所; abbreviated as HKEX ; SEHK: 0388) is the stock exchange of Hong Kong. ...
Other than the said shares, the HK Stock is defined as:
- Shares and marketable securities;
- Units in unit trusts; and
- Rights to subscribe for or to be allotted stock
Stamp Duty Computation Stamp duty on a conveyance on sale of land is charged at progressive rates ranging from 0.75% to 3.75% of the amount of consideration. The maximum rate of 3.75% applies where the consideration exceeds HK$6 million. ISO 4217 Code HKD User(s) Hong Kong Inflation 2. ...
Reference Link - Hong Kong Stamp Duty Ordinance Cap.117, Schedule 1 Heading
Ireland Stamp duty is charged on various items including (but not limited to) Credit cards A credit card is a system of payment named after the small plastic card issued to users of the system. ...
A debit card is a plastic card which provides an alternative payment method to cash when making purchases. ...
An ATM card is an ISO 7810 card used to withdrawal money from an ATM machine from an account. ...
Example of a Canadian cheque. ...
United Kingdom
Introduction In the United Kingdom, stamp duty is a form of tax charged on instruments (that is, written documents), and requires a physical stamp to be attached to or impressed upon the instrument in question. The more modern versions of the tax no longer require a physical stamp.
The scope of stamp duty has been reduced dramatically in recent years. Apart from transfers of shares and securities, the issue of bearer instruments and certain transactions involving partnerships, stamp duty was largely abolished in the UK from 1 December 2003. Stamp duty land tax (SDLT), a new transfer tax derived from stamp duty, was introduced for land transactions from 1 December 2003. Stamp duty reserve tax (SDRT) was introduced on agreements to transfer certain shares and other securities in 1986. This article or section does not adequately cite its references or sources. ...
For security (collateral), the legal right given to a creditor by a borrower, see security interest A security is a fungible, negotiable interest representing financial value. ...
A bearer instrument is a document that indicates that the bearer of the document has title to property, such as shares or bonds. ...
A partnership is a type of business entity in which partners share with each other the profits or losses of the business undertaking in which all have invested. ...
December 1 is the 335th (in leap years the 336th) day of the year in the Gregorian calendar. ...
2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...
A transfer tax is a direct tax that is paid when title to property is transferred. ...
December 1 is the 335th (in leap years the 336th) day of the year in the Gregorian calendar. ...
2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...
Stamp duty is a form of tax that is levied on documents. ...
History of UK stamp duties Stamp duty was first introduced in the UK in 1694, during the reign of William and Mary under "An act for granting to Their Majesties several duties on Vellum, Parchment and Paper for 4 years, towards carrying on the war against France". Similar duties had been levied in the Netherlands. Stamp duty was so successful that it continues to this day through a series of Stamp Acts. Events February 6 - The colony Quilombo dos Palmares is destroyed. ...
William III Mary II The phrase William and Mary usually refers to the joint sovereignty over the Kingdom of England and the Kingdom of Scotland of King William III and his wife Queen Mary II. Their joint reign began in February, 1689, when they were called to the throne by...
A stamp act is a law enacted by a government that requires a tax to be paid on the transfer of certain documents such as property deeds. ...
During the 18th and early 19th centuries, stamp duties were extended to cover newspapers, pamphlets, lottery tickets, apprentices' indentures, advertisements, playing cards, dice, hats, gloves, patent medicines, perfumes, insurance policies, gold and silver plate, hair powder and armorial bearings. (17th century - 18th century - 19th century - more centuries) As a means of recording the passage of time, the 18th century refers to the century that lasted from 1701 through 1800. ...
Alternative meaning: Nineteenth Century (periodical) (18th century — 19th century — 20th century — more centuries) As a means of recording the passage of time, the 19th century was that century which lasted from 1801-1900 in the sense of the Gregorian calendar. ...
Polish soldiers reading a German leaflet during the Warsaw Uprising A pamphlet is an unbound booklet (that is, without a hard cover or binding). ...
A lottery is a popular form of gambling which involves the drawing of lots for a prize. ...
If youre looking for the TV show, see The Apprentice. ...
An Indentured servant is an unfree labourer under contract to work (for a specified amount of time) for another person, often without any pay, but in exchange for accommodation, food, other essentials and/or free passage to a new country. ...
Generally speaking, advertising is the paid promotion of goods, services, companies and ideas by an identified sponsor. ...
This article does not cite any references or sources. ...
Two standard six-sided pipped dice with rounded corners. ...
This article or section does not adequately cite its references or sources. ...
// Long satin gloves Leather gloves A glove (Middle English from Old English glof) is a type of garment which covers the hand of a human. ...
A patent is a set of exclusive rights granted by a state to a patentee (the inventor or assignee) for a fixed period of time in exchange for the regulated, public disclosure of certain details of a device, method, process or composition of matter (substance) (known as an invention) which...
Perfume is a mixture of fragrant essential oils and aroma compounds, fixatives, and solvents used to give the human body, objects, and living spaces a pleasant smell. ...
An Insurance contract determines the legal framework under which the features of an insurance policy are enforced. ...
GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ...
General Name, Symbol, Number silver, Ag, 47 Chemical series transition metals Group, Period, Block 11, 5, d Appearance lustrous white metal Standard atomic weight 107. ...
Heraldry in its most general sense encompasses all matters relating to the duties and responsibilities of officers of arms. ...
The attempted enforcement of the Stamp Act 1765 in the English colonies in America led to the outcry of no taxation without representation. In some ways, stamp duty led to the American War of Independence. This article or section does not adequately cite its references or sources. ...
Colonial America may refer to: Colonial North America north of Rio Grande the Thirteen Colonies that declared independence from Britain in 1776 The period after the European colonization of the Americas Category: ...
No taxation without representation was a slogan in the period 1763-1775 that summarized a primary grievance of the American colonists in the Thirteen colonies. ...
The American Revolutionary War (1775–1783), also known as the American War of Independence, was a war fought primarily between Great Britain and revolutionaries within thirteen of her North American colonies. ...
Historically, stamp taxes were administered by the Board of Stamps. This merged with the Board of Taxes in 1833/1834, and the Board of Inland Revenue was created under the Inland Revenue Board Act 1849 by merger of the Board of Excise and Board of Stamps and Taxes. Stamp taxes were then administered by the Inland Revenue Stamp Taxes business stream (formerly the Stamp Office). Another merger occurred in 2004, with the Inland Revenue and HM Customs & Excise to form HM Revenue & Customs which now itself manages stamp duty. The Inland Revenue was, until April 2005, a department of the British Government responsible for the collection of direct taxation, including income tax, national insurance contributions, capital gains tax, inheritance tax, corporation tax, petroleum revenue tax and stamp duty. ...
In the UK, Her Majestys Customs and Excise is a department of the British Government. ...
Her Majestys Revenue and Customs (HMRC) is a new department of the British Government created by the merger of the Inland Revenue and Her Majestys Customs and Excise which came into formal effect on 18 April 2005. ...
The Stamp Duties Management Act 1891 and the Stamp Act 1891 still contain much of the operative law on stamp duties, although there have been significant amendments subsequently and a partial consolidation was made in Finance Act 1999. The Stamp Act 1891 was the inspiration for many of the older Australian stamp duty Acts.
Stamp duty reserve tax Stamp duty reserve tax (SDRT) was introduced under the Finance Act 1986 to ensure that a form of tax equivalent to stamp duty would continue to be payable on the transfer of uncertificated shares. At that time, it was expected that the TAURUS share trading system would come into operation. In the event, SDRT was adapted for the change to trading in uncertificated shares in CREST, and is charged on agreements to transfer shares and other securities. SDRT is not a stamp tax, but a self-assessed transfer tax which is usually collected automatically by stock market participants (such as brokers) when a transaction takes place. Taurus was a program that set to transfer the London Stock Exchange from paper communication to an automated system. ...
CREST (although written like a acronym it does not stand for anything) is the Central Securities Depository for the U.K., Republic of Ireland, Isle of Man and Jersey equities and UK gilts. ...
Stamp duty remains in force for shares and securities that are held in certificated form which can only be transferred by using a physical stock transfer form, and runs in parallel to SDRT on agreements to transfer shares. Since 1986, both stamp duty and SDRT have been charged at a rate of 0.5% of the consideration for the transfer of shares (in the case of stamp duty, rounded up to the nearest £5). The same transaction may include an agreement to transfer shares which may trigger a liability to SDRT, and the agreement may later be completed by a transfer of the shares which is liable to stamp duty. Provided that the transfer is stamped within 6 years, the charge to SDRT is cancelled to avoid a double charge. In corporate law, a stock certificate (also known as certificate of stock or share certificate) is a legal document that certifies ownership of a specific number of stock shares in a corporation. ...
Consideration is something that is done or promised in return for a contractual promise. ...
A higher rate of SDRT at 1.5% is charged for the issue or transfer of shares to a person who operates a depositary receipt scheme or a clearance service (other than CREST, which is exempted). The higher charge compensates for the fact that later transfers of depositary interests or through the clearance services will not attract SDRT. An American Depositary Receipt (ADR) is how the stock of most foreign companies trades in United States stock markets. ...
It is widely expected, although the UK Treasury may wish otherwise, that as a practical matter SDRT will not ultimately survive the introduction of the EU Markets in Financial Instruments Directive (MiFID.) which is designed to create a single market in financial services across the EU. As currently operated, SDRT will create a number of tax, legal and operational barriers that could effectively present an uneven playing field. It is totally unclear how UK Tax Authorities could hope to police transctions wholly effected in other member states.
There is little sign that this is clearly understood by the UK Government nor even faintly comprehended by the UK Stamp Office who are still stuck on the concept of imposing SDRT on transactions effected on national exchanges.
Stamp duty land tax -
Stamp duty land tax (SDLT) was a new tax in land transactions that was introduced by the Finance Act 2003. It largely replaced stamp duty with effect from 1 December 2003. SDLT is not a stamp duty, but a form of self-assessed transfer tax charged on "land transactions". Stamp duty is a form of tax that is levied on documents. ...
Stamp duty is a form of tax that is levied on documents. ...
December 1 is the 335th (in leap years the 336th) day of the year in the Gregorian calendar. ...
2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...
A transfer tax is a direct tax that is paid when title to property is transferred. ...
External links
United States Although the federal government formerly imposed various documentary stamp taxes on deeds, notes and other transactional documents, in modern times such taxes are only imposed by states. Typically when real estate is transferred or sold, a real estate transfer tax will be collected at the time of registration of the deed in the public records. In addition, many states impose a tax on mortgages or other instruments securing loans against real property. This tax, known variously as a mortgage tax, intangibles tax, or documentary stamp tax, is also usually collected at the time of registration of the mortgage or deed of trust with the recording authority. Federal courts Supreme Court Chief Justice Associate Justices Elections Presidential elections Midterm elections Political Parties Democratic Republican Third parties State & Local government Governors Legislatures (List) State Courts Counties/Parishes/Boroughs, Cities, and Towns Other countries Politics Portal A U.S. state is any one of the fifty subnational entities of...
A transfer tax is a direct tax that is paid when title to property is transferred. ...
This article is about the legal mechanism used to secure property in favor of a creditor. ...
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