Stamp Duty is a tax on the transfer of land. It’s payable by the purchaser and, in the Northern Territory is generally charged according to a sometimes-complex formula on the following lines:

The most common exemptions and concessions provided for land or business transactions under the stamp duty legislation and some other statutes include:

• first home buyers
• seniors, pensioners and carers
• principal place of residence
• deceased estates
• property settlements
• trust distribution
• transfer to joint names of spouses
• transfer of interest in farm between family members
• corporate restructures.

New Legislative Update

The Revenue Legislation Amendment Bill 2019 (NT) and the Property Activation Bill 2019 (NT) were passed on 20 June 2019, and all changes have commenced.

• Certain grants, incentives and concessions as part of the Territory’s home owner assistance scheme, have been changed, including a limited ‘Build Bonus’ grant for new homes.

• The introduction of a property activation levy (of between 1-2%) for vacant land and unoccupied buildings (including those with a 50% or greater vacancy rate on the ground level) in the Darwin CBD to stimulate the revitalisation of the city.

The NT Government encourages property owners to consider innovative ideas to ‘activate’ their vacant land or buildings, including using the space for car parks, temporary pop up shops or restaurants, or for the creation of parks, markets, outdoor dining spaces.