Abolition of lease duty in Queensland

Queensland has removed stamp duty for leases entered into on or after 1 January 2006, according to Dibbs Abbot Stillman ’s January Franching Update. Leases executed before 1 January 2006 will continue to attract duty.

This means that when extending the term of existing leases in Queensland, franchisors and franchisees should consider entering into new leases instead. However, there is no point terminating existing leases and asking for a refund as the requirements for a refund of lease duty in Queensland are quite onerous.