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ARTICLE · 01 JULY 2012

NSW Budget Defers Abolition of Duties

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NSW is the only Australian state yet to abolish mortgage duty and transfer duty on unquoted marketable securities.

AustraliaTax
Alistair Jaque
Alistair Jaque
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In its 2012-2013 Budget the NSW State Government has deferred the total abolition of duty on:

  • mortgages,
  • the transfer of unquoted marketable securities, and
  • the transfer of non-land business assets.

The result of this announcement is that New South Wales is now scheduled to abolish the duties from 1 July 2013, instead of 1 July 2012 as was anticipated. New South Wales remains the only Australian state yet to abolish mortgage duty and transfer duty on unquoted marketable securities.

For further information please contact:

Alistair Jaque, Partner
Phone: + 61 2 9233 5544
Email: [email protected]

Phillip Briffa,Solicitor
Phone: +61 2 9233 5544
Email: [email protected]

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