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Takeovers of listed landholders: Managing the duty implications


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.

Author profile:

Peter McMahon CTA
Peter is a Consultant to Ernst & Young. Peter has over 35 years experience advising both public and private clients on the stamp duty implications of major privatisation, infrastructure, real estate and M&A transactions. Peter is a longstanding member of the Tax Institute's Liaison Committee with the NSW Office of State Revenue and is co-author of CCH's Duties Law & Practice looseleaf service and GST and the Financial Markets. Current at 10 May 2013 Click here to expand/collapse more articles by Peter MCMAHON.
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