Published on 01 Mar 07
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
Dealings in real property invariably result in legal documentation being brought into existence between the parties. This documentation extends far beyond formal LTO transfers but nevertheless is likely to raise stamp duty issues. Awareness of the stamp duty rules in advance is a must for advisors in the planning of these transactions and associated documentation. Every day transactions can have undesired and unexpected stamp duty ramifications. This paper provides information about the concessions which are available and what planning should be undertaken before a transaction proceeds. Topics covered include:
- transactions relating to real property which typically give rise to dutiable instruments
- concessions for transactions between spouses and for primary production land
- real property transfers in connection with a business/business assets
- declarations of trust and nominee contracts
- “off the plan” acquisitions
- issues with real property partitions and aggregation of connected transactions.
Fab Porcaro, CTA is the founder of Porcaro Lawyers with experience in advising businesses and individuals on the federal and state tax implications of commercial and property transactions, legal structures and restructures, superannuation and estate and succession planning. He also advises on tax disputes with the Commission of Taxation and Revenue SA.
- Current at
22 January 2018