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ARTICLE · 05 FEBRUARY 2016

A refresher on lease duties in New South Wales

DibbsBarker
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Landlords and tenants in New South Wales should be cautious in considering stamp duty implications relating to leases.

AustraliaReal Estate and Construction
Fiona David
Fiona David
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Focus: Understanding how and when stamp duty arises in lease transactions
Services: Property & Projects
Industry Focus: Property

What you need to know

  • While leases entered into in New South Wales after 1 January 2008 are not subject to stamp duty, there are certain events relating to leases that may still attract stamp duty
  • Transactions such as the transfer or assignment of a lease, the surrender of a lease and the payment of premiums may create 'duty events'
  • Landlords and tenants should carefully consider whether stamp duty may be payable on transactions relating to their leases, and take steps to ensure any payable duty is managed appropriately.

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