Refinancing Mortgages- ATO changes

No duty is payable on a refinancing mortgage first executed on or after 1 July 2016, which refinances an advance secured by a mortgage dated before 1 July 2016.


A refinanced mortgage executed prior to 1 July 2016 to secure an advance to be made on or after 1 July 2016 can be stamped exempt from duty under section 220 of the Act, if the refinancing criteria apply. If the amount refinanced exceeds the amount to which the earlier mortgage was stamped, or exceeds $1 million, duty of $5 would be payable on such mortgage.