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Flexible guidelines for the stamp duty exemption

Publication date: 01 Sep 98 | Source: LAW SOCIETY JOURNAL

Issue: Vol 36

Pages: pp.38,40-41

Abstract:
The introduction of s.66H of the Stamp Duties Act 1920 (NSW) in 1994, enabled farmers in certain circumstances to transfer farmlands to the next generation without the payment of stamp duty if the transfer was executed on or after 14 September 1994. Since then the guidelines have been changed three times. This article highlights the flexibility of the guidelines and the ease with which the guidelines can be changed.

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Author profile

William Thompson CTA
Bill works for Minter Ellison as Tax Practice Head and Managing Partner of the firm's Brisbane office. Bill is a past National Chair of the Taxation Committee Law Council of Australia, a past Chair of the Taxation Institute of Australia, Queensland Division and has been an executive officer of the Taxes Section of the International Bar Association. Bill advises Australian and international clients in structuring and transactional tax matters, and has particular experience in taxation disputes including litigation to appellate level in the Federal and Queensland jurisdictions. He is well known as a presenter on tax issues in Australia and has been an invited speaker for tax conferences of the IBA, the American Bar Association Tax Committee (Foreign Lawyers) and the Taxation Academy of Singapore. - Current at 02 July 2012
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