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When Do I Pay Stamp Duty on Transferring Shares in a Company?

When do you and when do you not, need to pay stamp duty on shares when your business is being sold or restructuring?

Under Business Law, Whether your business is going through a restructure or sale, or in other circumstances you are dealing with shares in a company, it is vitally important that you consider whether stamp duty is payable.

Often shares in a company can be very valuable, and people don’t consider the duty implications or think about who may be responsible to pay duty.

What is required under Commercial Law?

Generally, under Business Law, you do not have to pay stamp duty (transfer duty) for a transfer of shares in a private or public corporation, subject to some exceptions.

There are two exceptions to this general rule –

  1. If the company has land-holdings in Queensland of $2 million or more, then landholder duty is payable (formerly known as land rich duty); and
  2. If the company holds property on trust, then corporate trustee duty may be payable.

These are complicated Commercial Law requirements for each of these duties. If you are considering any business transaction relating to the transfer of company shares or interests or units in a trust, then we strongly recommend that you contact our Nambour business lawyers in Sunshine Coast.

Butler McDermott law firm’s Nambour business solicitors can provide you with expert legal and taxation advice and services so get in touch today for a confidential discussion.   

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Simone Faunt

Solicitor

Peter Boyce

Consultant

Peter has been practising as a Nambour Solicitor since 1977 and joined Butler McDermott Lawyers the same year.

With over 40 years practicing as a Sunshine Coast lawyer, Peter has extensive knowledge of various facets of law.

He has practised in all areas of litigation and has special interests in:

  • Criminal law
  • Civil and Commercial litigation
  • Retirement Village matters
  • Sports law
  • Resumption of land and compensation claims

 

Peter has specialised knowledge of and experience with resumption matters as a result of the Traveston Dam project, road corridors, Main Roads and water pipeline. He is renowned for his professional approach and is an experienced and determined advocate.

Brent King

Solicitor/Director

Brent works as a litigation lawyer, providing litigation legal advice in relation to both civil and criminal law matters, including:
  • Defamation Claims
  • Contract and Debt Disputes
  • Building and Construction Disputes
  • Planning Matters
  • Criminal Law and Traffic Legal Matters
Having grown up on the Sunshine Coast and joining Butler McDermott after the completion of his studies, Brent appreciates the needs of our clients, and brings a particularly commercial approach to litigation. Brent is a member of the Queensland Law Society and the Sunshine Coast Law Association, and has litigated a wide variety of matters in the Magistrates, District and Supreme Courts.

Al Upton

Solicitor/Director

After arriving at Butler McDermott Lawyers in 2016, Al quickly progressed to running our Wills and Estates section and has successfully litigated disputes in the Supreme and District Courts of Queensland in the early stages of his career.

In the years that followed Al has now moved to assist our clients with commercial and property matters having achieved positive outcomes in that area as well as general litigation. Al’s experience has him uniquely placed to provide quality advice in the areas of property, commercial, wills and estates and general litigation.

Al is involved in giving back to the community, sitting on the board for the Daniel Morcombe Foundation and Sundale Community Foundation. He otherwise became a director of Butler McDermott Lawyers in November 2021.