Stamp Duties Consolidation Act 1999 section 90A

Greenhouse gas emissions allowance

Section 90A exempts the sale, transfer or other disposition of a greenhouse gas emissions allowance from stamp duty and sets out apportionment rules where an instrument transfers a mix of such allowances and other chargeable property.

• No stamp duty arises on an instrument transferring a greenhouse gas emissions allowance.
• A greenhouse gas emissions allowance means carbon offsets within the meaning of section 110(1) of the Taxes Consolidation Act 1997.
• Where an instrument covers both an allowance and other property, the consideration must be apportioned on a just and reasonable basis, with stamp duty charged only on the non-allowance portion.
• The general apportionment rules in section 45 are adapted so that, where allowances form part of the property, the apportionment must be just and reasonable; anti-avoidance provisions apply if it is not.