NSW Stamp Duty Alert: Acknowledgment of Trust

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 ruling now has implications much broader than its title. Continue reading

NSW Stamp Duty Reforms: Change of Beneficial Ownership – where have we landed? Significant changes to leases and option transactions

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 on their application to lease transactions. Continue reading