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Takeovers of listed landholders: Managing the duty implications

Published on 01 Oct 13 by "THE TAX SPECIALIST" JOURNAL ARTICLE

Stamp duty on acquisitions of interests in landholding companies and unit trusts now constitutes a separate taxing regime for transactions involving dealings in such companies and unit trusts. One recent significant development in landholder duty has been a move to impose duty on takeovers of public landholders, along with an expansion of the list of things that constitute “land” for duty purposes, resulting in a tax with a very broad reach. This article considers some important stamp duty issues that occur under takeover bids and schemes of arrangement involving publicly listed landholders. Significant duty issues arise from an actual acquisition of a target under a takeover or scheme, as well as from the structuring of the bid vehicle, and post-acquisition restructures of capital or assets of the target.

The article also touches on some of the compliance issues that are relevant to acquisitions of listed landholders.

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Peter MCMAHON
Current at 09 June 2009 Click here to expand/collapse more articles by Peter MCMAHON.
 

 

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