Stamp Duties Consolidation Act 1999 section 40

Calculation of ad valorem duty on stock and securities

Section 40 sets out how ad valorem stamp duty is calculated where the consideration for a conveyance on sale consists wholly or partly of stock or securities.

• Where the consideration (or part of it) for a conveyance on sale consists of stock or marketable securities, stamp duty is charged on the market value of those stocks or securities on the date the conveyance is executed.
• Where the consideration (or part of it) consists of a security that is not a marketable security, stamp duty is instead charged on the value of the property being conveyed, assessed on the date of execution of the conveyance.
• "Property" for these purposes includes any estate or interest in property.
• The distinction between marketable and non-marketable securities determines whether stamp duty is based on the value of the securities given or the value of the property received.