Stamp Duty Calculator
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STAMP DUTY
In accordance with the Stamp Duty Legislation a number of documents require stamping. Some of these include:
- Deeds of Conveyance
- Deeds of gift
- Deeds of Mortgage
- Release of Mortgage Loan
- Release of Life Insurance Policies
- Powers of Attorney
- Transfer of Shares
- Deeds of Lease
- Deed Polls
- Bonds - Performance and other wise
- Deeds of any other kind.
WHERE AVAILABLE
The Stamp Duty Section Inland Revenue Division
Inland Revenue Division South Regional Office
Ground Floor, Edward Street TECU Building
Port of Spain Southern Main Road
Marabella.
.
Inland Revenue Division
Tobago Regional Office
Sangster's Mall
Scarborough
Tobago.
STAMPING OF DOCUMENTS
All documents to be stamped are provided by the individual. Requisition Forms which are to be completed are available at the Stamp Duty Section.
Payment must be made by certified cheques and /or cash ONLY.
Individuals should seek assessment of documents for stamping from the staff at the stamp duty section prior to completion of payment cheques.
Deed of Conveyance or Gift -
This deed is used where residential property changes ownership. Residential Property is deemed to be land upon which a house has been built and used wholly or mainly for residential purposes.
Residential Property Rates
Property valued up to $350,000. is exempted from stamp duty.
Where consideration or value is over $850,000 stamp duty is computed as follows -
More than $850,000 but not exceeding $1,250,000 3.0% on the excess
More than $1,250,000 but not exceeding $1,750,000 5.0% on the excess
More than $1,750,000 7.5% on the excess
There are no exemptions on Non-Residential Conveyances e.g. land only.
The rates applicable are -
2% up to $300,000.
5% over $300,000 and up to $400,000
7% over $400,000.
Deed of Residential Mortgage
This deed is used in the purchase and/or construction of a residential property. Property valued up to $315,000 are exempt from stamp duty.
Where the value exceeds $315,000 stamp duty is payable on the full amount at the rate of 50¢ for every $250.00 or part thereof.
Bonds
Performance Bonds are stamped at the rate of 50¢ for every $250.00 or part thereof.
Estate Bond
The stamp duty on an Estate Bond is at the fixed rate of $10.00
Tender Bond
The stamp duty on a Tender bond is at the fixed rate of $25.00
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