Calculation Of Stamp Duty Payable For The Renewed Tenancy Term

To calculate the stamp duty payable for your renewed term, you will require the following information:

1)      Monthly building or land & building rent per month (r)

2)      Monthly service charge (s)

3)      Total no. of months for the renewed term(m)

4)      The renewed term (N) 

• N = 1 for renewed term of 1 year or less
• N = 2 for renewed term exceeding 1 year but is less than or equal to 3 years

The following example list down the stamp duty calculation for a tenant who is renewing a further term of 3 years, with details on monthly rental & service charge for the 3-year term as follows:

Amount of Building/ Land and Building Rent per month (r)	Monthly Service Charge (s)	No of months (m)	Total (r+s) x m
$3,850	$130	12	$47,760
$4,200	$130	12	$51,960
$4,320	$130	12	$53,400
Total		36	$153,120

Step 1	Ascertain the average Building / Land and Building Rent and service charge for 1 year (a).
	Total (r+s) $153,120
		x 12 =	(a) $51,040
	Total (m) 36
Step 2	For every $250 total Building / Land and Building Rent and service charge, $1 stamp duty is payable.
	(a / $250)	=	Stamp duty payable (rounded up  to the nearest $1)
	($51,040 / $250)	=	$204.16
	Stamp duty payable	=	$205
Step 3	To ascertain the total stamp duty payable, apply the following formula:
	Stamp fee payable	x	N	=	Total stamp fee payable
	$205	x	2	=	$410