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Tax Tip 139: Abolition of Duty on transfers of Units and Shares in NSW

Discussion in 'Accounting & Tax' started by Terry_w, 27th Jun, 2016.

  1. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Abolition of Duty on transfers of Units in Unit Trusts and Shares in Companies in NSW

    This had been on the cards for years but kept getting delayed.


    In NSW the transfer of shares in a company or the transfer of units in a unit trust will no longer incur stamp duty – but only if the company or trust is not a ‘landholder’. The stamp duty used to be 0.60%.

    A landholder is a unit trust or company that has land holdings in NSW with a threshold value of $2,000,000 or more.

    Abolition of NSW Marketable Security Duty | Office of State Revenue


    The removal of duty allows for several strategies – with less cost.
     
    Hedgy and Simon Moore like this.
  2. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

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    The recent changes to tax law which take effect from 1 July can also allow a tax entity to restructure and provided the ultimate owner does not change a CGT event may be avoided. This has potential application for SOME property. The property transfer duty problem may remain.