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- Title
NSW Duties Act: charging the land.
- Authors
Smythe, Cullen
- Abstract
For decades, the NSW landholder duty provisions have imposed a liability on acquirers of interests in entities holding NSW real property. However, the ability to collect this revenue in cases where a liable party is located offshore, with no directly held Australian assets, has been limited. Through amendments passed in 2020, the acquirer of a relevant interest, together with the landholder itself, are jointly and severally liable, and landholder duty liabilities form a charge on the land. This article outlines the limitations of the international "revenue rule", and the way the 2020 amendments to the Duties Act 1997 (NSW) address this problem. The article also provides some practical examples covering both domestic and international scenarios to illustrate how the provisions are administered by the Chief Commissioner.
- Subjects
NEW South Wales; REAL property; REVENUE rulings; LANDFORMS; LANDOWNERS
- Publication
Taxation in Australia, 2021, Vol 56, Issue 5, p307
- ISSN
0494-8343
- Publication type
Article