Source: Taxation In Australia Journal Article
Published Date: 1 Oct 2016
The majority of state and territory jurisdictions now generally only impose duty on transactions involving land or landholding entities. Most jurisdictions no longer subject acquisitions of business assets to duty; however, in each jurisdiction, some notable exceptions still apply. This article explores some of the topical issues arising in duty law throughout the Australian states and territories. The first part of the article considers the current ramifications of acquiring businesses operating in different states and territories.
The second part of the article considers the implications of acquiring interests in landholding entities now that most Australian jurisdictions, including NSW, have moved towards a land-based regime for imposing duty. The final part of the article briefly reviews some of the common duty concessions or exemptions that arise in land and business restructures.
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