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Partnerships and stamp duty: Australia-wide


The recent High Court decision in Commissioner of State Taxation v Cyril Henschke Pty Ltd focuses attention on the complex and varied interactions between dealings in partnerships, partnership interests and stamp duty. In this article, the author uses the Henschke decision, in the context of previous case law, to examine the Australian jurisprudence as to the nature of a partnership interest at general law and the general law consequences of certain dealings in partnership interests.

The article then compares and contrasts how dealings in partnership interests are treated under the stamp duty laws of each state and territory. Finally, the article considers how partnerships and partnership interests interact with the landholder, land rich and trust acquisition provisions of each state and territory. It becomes clear that the stamp duty consequences of dealings in partnership interests are complex and vary greatly between jurisdictions, requiring specialist advice to ensure that the duty implications are properly understood by taxpayers.

Author profile:

Matthew Sealey FTI
Matthew is a member of the NSW Bar and regularly appears in state and federal tax proceedings as well as related commercial proceedings. Before coming to the Bar in 2011, Matthew practised for over 13 years as a solicitor specialising in taxation and stamp duty law. He spent over eight years with Minter Ellison where he was a Special Counsel in the Taxation division advising on real property, property funds, financial services and general corporate transactions. Matthew has published numerous articles on tax and stamp duty matters in the NSW Law Society Journal, Weekly Tax Bulletin and the Australian Property Law Bulletin among others. He is also a co-author of a leading stamp duty reference service and a regular speaker at specialist conferences. As a solicitor, he was a member of the NSW Office of State Revenue Law Society Liaison Committee. Current at 01 October 2103 Click here to expand/collapse more articles by Matthew SEALEY.
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