Revocation of the remission of stamp duty for transfer of property

The Stamp Duty (Remission) (Revocation) Order 2023 has been issued and been effective from 1 April 2023 to revoke the Stamp Duty (Remission) (No 2) Order 2019 (“Order 2019”) from 1 April 2023. 

The Order 2019 provided a remission of 50% stamp duty chargeable on an instrument of transfer of immovable property between mother/father to a child or vice versa, executed on or after 1 January 2020.

However, the Order 2023 exempts the stamp duty on all instruments of transfer of any immovable property operating as a voluntary disposition inter vivos from the specified donor to the specified recipients (i.e. between parents and children or grandparents and grandchildren). Any instruments of transfer executed before 1 April 2023 but has not been presented for stamping will be entitled for the remission under the Order 2019.