By Jinny Chaimungkalanont and Mark Peters Revenue NSW has now published its long-awaited Revenue Ruling on declarations and acknowledgments of trust in light of the 19 May 2022 stamp duty reforms (see our notes on those reforms here). Although housed in the longstanding Revenue Ruling DUT031 Declaration of trust in an agreement for sale, that … Read more

By Jinny Chaimungkalanont and Mark Peters The new “change in beneficial ownership” provisions (covered in our note here) have been in force in NSW since 19 May 2022 (State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022 (NSW)[1]). Almost six months on, Revenue NSW has released Commissioner’s Practice Notes (CPN) on the provisions generally and … Read more

By Nick Heggart, Tristan Boyd and Louise Van Wyk A bill has been introduced into the Parliament of Western Australia to amend the Duties Act 2008 (WA) (Duties Act), in relation to farm-in agreements and related transactions (Amending Bill).[1] Reform of the longstanding farm-in stamp duty concession was first announced on 28 November 2018 (Announcement … Read more

By Jinny Chaimungkalanont and Mark Peters Resettlement risk continues to be one of the most significant risks that trustees and beneficiaries need to manage in the administration of trusts of any kind. The duty and tax consequences of an inadvertent resettlement of some or all of the trust property are manifold, including: Read more

By Mark Peters. Significant stamp duty and land tax changes have been proposed in a number of Australian states and territories, with ramifications for property acquisition and development, mergers and acquisitions, foreign investment and trustees. Read more

By Mark Peters Resettlement risk continues to be one of the most significant risks that trustees and beneficiaries need to manage in the administration of trusts of any kind. The duty and tax consequences of an inadvertent resettlement of some or all of the trust property on new trusts are manifold, including: Read more