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State Taxation Acts (General Amendment) Act 2005 submission on behalf of the Taxation Institute of Australia

Published on 09 Jun 05 by THE TAX INSTITUTE

The Taxation Institute opposes the proposed repeal of the exemptions in sections 49 and 50 of the Duties Act 2000 (Vic). Under the State Taxation Acts (General Amendment) Bill 2005 it is proposed to remove the longstanding exemption from duty for a transfer of land from a company to its shareholders made in the course of a winding up (section 50 of the Duties Act). In addition, it is proposed to remove the exemption for transfers of land made in the course of a reduction of capital (section 49).

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TAXATION INSTITUTE OF AUSTRALIA

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