It is recognised that while harmonisation efforts have been made to align the operation of State tax legislation differences in their operation still exist.
This presentation discusses the principles applicable to land tax and stamp/transfer duty as they may be applicable to primary producers in each State and Territory. The presentation not only considers the application of the relevant provisions but importantly identifies any concessions that may be available to primary producers and their commercial activities. For example the presentation reviews the potential transfer duty concessions that may be available in the case of restructuring where the ownership of land, other assets and businesses (including trading stock and depreciating assets) transfer from one entity to any another. Specific issues as to land tax exemptions were addressed.