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Stamp Duty Law: Stamp Duty on Trust Deeds

This quiz will test your knowledge on the Stamp Duty Law: Stamp Duty on Trust Deeds.

5 Questions Published
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Questions

Question 1 Multiple Choice (Single Answer)

What is the rate of stamp duty on a trust deed?

  1. 0.5%
  2. 1%
  3. 2%
  4. 3%
Question 2 Multiple Choice (Single Answer)

Who is liable to pay stamp duty on a trust deed?

  1. The settlor
  2. The trustee
  3. The beneficiary
  4. All of the above
Question 3 Multiple Choice (Single Answer)

What is the value of the property for the purpose of calculating stamp duty on a trust deed?

  1. The market value of the property
  2. The purchase price of the property
  3. The value of the property as assessed by the government
  4. The value of the property as agreed upon by the parties to the trust deed
Question 4 Multiple Choice (Single Answer)

When is stamp duty payable on a trust deed?

  1. At the time of execution of the trust deed
  2. Within 30 days of the execution of the trust deed
  3. Within 60 days of the execution of the trust deed
  4. Within 90 days of the execution of the trust deed
Question 5 Multiple Choice (Single Answer)

What are the consequences of failing to pay stamp duty on a trust deed?

  1. The trust deed will be void
  2. The settlor will be liable to pay a penalty
  3. The trustee will be liable to pay a penalty
  4. All of the above
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