Published on 22 Feb 13
by NORTHERN TERRITORY DIVISION, THE TAX INSTITUTE
More than ten years after the GST was introduced and despite calls for its abolition from various quarters, stamp duty is still here and remains an important revenue source for State and Territory governments. It is likely to remain the bane of taxpayers for the forseeable future. Accordingly, accountants and lawyers need to maintain at least a general understanding of how stamp duty affects transactions and particularly the pitfalls associated with internal company restructures. This paper covers corporate reconstruction exemptions in the Northern Territory as well as common stamp duty problems and recent cases.
Leon is Special Tax Counsel with Ward Keller Lawyers.
Current at 13 February 2004