Frequently Asked Questions
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What is Transfer Tax and Stamp Duty?
Transfer Tax is a payment to the Commissioner of Stamp Duty at the rate of 5% of the sale price or value for which the property is transferred.
Stamp Duty is calculated at a rate of approximately 4% of the sale price for which the property is transferred. The purchaser and vendor usually share payment of Stamp Duty equally. Please note that a conveyance of land is required to be stamped within 30 days after it is signed to avoid penalty.
You should contact the Commissioner of Stamp Duty, 111 Harbour Street, Kingston, for more detailed information.