Tasmanian Mortgage Duty Abolition
As part of the Revenue initiatives contained in the 2005-06 Tasmanian State Budget, the Government enacted the Revenue Measures Act 2005 that included the abolition of mortgage duty in respect of mortgage instruments executed on or after 1 July 2007. This means any new Tasmanian mortgage instrument executed, or further advance made on an existing mortgage, on or after 1 July 2007 no longer requires stamping under the Duties Act 2001.
Instruments executed prior to 1 July 2007 will continue to be subject to duty and will require stamping in accordance with Chapter 6 of the Act.
For further information please click on the following link to the Guideline on Mortgage Duty Abolition - Duties Act 2001. |  |
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