Stamp duty news

Here are some recent news articles and updates on stamp duty:

UK

• The UK government has announced plans to reform stamp duty land tax (SDLT) to help first-time buyers and boost the housing market. The changes, which come into effect in April 2021, will see the nil rate band for SDLT increase from £125,000 to £300,000 for first-time buyers. (Source: HM Treasury)
• The UK's Office for National Statistics (ONS) has reported that SDLT revenue has increased by 12% in the year to September 2020, driven by a surge in property transactions. (Source: ONS)

Australia

• The Australian government has announced plans to increase stamp duty on foreign buyers of residential property to 8% from July 2021. The move is aimed at reducing foreign investment in the housing market and increasing the supply of homes for Australian buyers. (Source: Australian Government)
• The Australian state of New South Wales has introduced a new stamp duty regime for off-the-plan property purchases, which will see buyers pay duty on the purchase price rather than the market value of the property at settlement. (Source: NSW Government)

Canada

• The Canadian government has announced plans to increase the Goods and Services Tax (GST) and Harmonized Sales Tax (HST) on real estate transactions, including stamp duty, to 5% from July 2021. The move is aimed at reducing the federal budget deficit. (Source: Government of Canada)
• The province of British Columbia has introduced a new speculation tax on foreign buyers of residential property, which will see buyers pay an additional 0.5% tax on top of the existing 8% property transfer tax. (Source: Government of British Columbia)

India

• The Indian government has increased the stamp duty on property transactions in several states, including Maharashtra and Gujarat, to help boost revenue and fund infrastructure projects. (Source: Indian Express)
• The Reserve Bank of India has announced plans to introduce a new stamp duty regime for property transactions, which will see buyers pay duty on the market value of the property rather than the purchase price. (Source: Reserve Bank of India)

Singapore

• The Singapore government has increased the stamp duty on residential property transactions to 3.5% from 2.5% to help cool the housing market. (Source: Singapore Government)
• The Monetary Authority of Singapore has announced plans to introduce a new stamp duty regime for foreign buyers of residential property, which will see buyers pay an additional 10% duty on top of the existing 3.5% duty. (Source: Monetary Authority of Singapore)

These are just a few examples of recent stamp duty news from around the world. If you're looking for more information on stamp duty in a specific country or region, feel free to ask!