The State Government in this year’s State Budget has announced new measures will be enacted to extend the current stamp duty exemption that applies on the transfer of certain family farm land to include land held in family companies. Family farm transfers to or from family companies in addition transfers[…]
In the 2015-16 South Australian State Budget stamp duty was abolished on non-real property transfers executed on or after 18 June 2015. As a result, only transfers of real property or interests in real property or potentially of interests in entities which hold real property are subject to duty in[…]
It is usually assumed that if you bought a piece of land before 20 September 1985 it will be a pre Capital Gains Tax (‘CGT’) asset. However, this is not always the case, Division 149 of the Income Tax Assessment Act 1997 (Cth) can displace the operation of the usual[…]
One of the less widely debated parts of this week’s federal budget are changes to the legislation which came into effect from 1 July 2016 to increase the rate and widen the scope of the Foreign Resident Withholding Tax. This legislation originally required a payment of 10% of the purchase[…]