stamp duty


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Related to stamp duty: Stamp duty land tax

Stamp duty

Applies mainly to international equities. Taxes on foreign transactions, usually a percentage of total transaction amount, that can be unilateral or bilateral in nature.

Stamp Duty

A tax placed on legal documents upon transfer. For example, a stamp duty may be assessed on the deed to a house when it is sold before the deed can pass from the seller to the buyer. The term comes from the fact that governments used to place physical stamps on the legal documents as proof that the duty had been paid, but this practice is fairly uncommon now. Stamp duties are most common in some Commonwealth of Nations countries, such as Singapore and Australia, as well as in some U.S. states.

stamp duty

a UK TAX on the value of SHARES purchased on the STOCK MARKET.

stamp duty

a TAX levied on the purchase of an ASSET, such as a house or stocks and shares, etc., usually as a percentage of the purchase price. Currently (2005), for example, houses in the price range up to £120,000 are exempt from stamp duty; houses valued at between £120,000 and £249,000 incur stamp duty at 1%; between £250,000 and £499,000 the charge is 3%, and for properties over £500,000 stamp duty is levied at 4%. The rate for stocks and shares is 0.5% on the total value of the purchase. Stamp duty is usually used by the government to raise revenue, but occasionally it is used as a tool of FISCAL POLICY to, for example, dampen down the demand for houses.
References in periodicals archive ?
This is a change, not a stamp duty holiday so there is no time limit and it can be used on second hand properties not just new build homes which will have a bigger effect right across the market.
It estimates that between 2012 and 2017, an additional 146,000 property transactions could have taken place if stamp duty had been removed.
People cannot move to where the best jobs for them are because the houses aren't being built, and that's made even worse by stamp duty keeping older people in family homes that are too large for them.
The change reduced stamp duty for most - a PS300,000 home went down from PS9,000 to PS5,000.
A total of 225,200 first-timers paid stamp duty between June 2015 and June 2016, buying properties that were more than the PS125,000 minimum threshold.
George Osborne, chancellor, overhauled the stamp duty system in December 2014, ending the "slab" system in favour of a progressive levy under which properties costing more than 938,000 pounds incur a bigger charge.
The welcome reforms to Stamp Duty announced by the Chancellor last December have helped to reduce Stamp Duty bills for the overwhelming majority of homebuyers and movers.
The effect of the changes is that anyone buying a property for less than PS937,500 will pay less stamp duty or the same as they would under the old regime.
Matthew Sinclair, chief executive of the Taxpayers' Alliance, said: "As the property market recovers, more and more people will be sucked into paying punitive rates of stamp duty.
The report said: "In Wales, 2,950 homes were bought with a Stamp Duty rate of 3% or more in 2012-13.
The bank yesterday said the average house price was pounds 163,803 in March as the number of completed sales rose to its highest level since late 2009 before the threshold for stamp duty fell from pounds 250,000 to pounds 125,000 at the end of the month.
After this date, stamp duty will be charged at a rate of 1% to first-time buyers on all properties above the value of pounds 125,000.