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ARTICLE · 13 MARCH 2014

Small drafting mistake, big stamp duty cost

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Proper drafting of legal documents is very important in a stamp duty context as problems can result in extra duty costs.

AustraliaTax
Gary Chiert
Gary Chiert
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Proper drafting of legal documents can be especially important in a stamp duty context as inappropriate drafting can result in an unexpected stamp duty cost. This is illustrated by a case that was decided in New South Wales last year. The Chief Commissioner succeeded in extracting two lots of stamp duty from the taxpayer in respect of an arrangement that involved only one lot of dutiable property. Double duty might not have arisen had the relevant document been drafted differently.

AL-SAEED AND ASSOCIATION PTY LTD ATF AL-SAEED EDUCATION AND WELFARE TRUST V CHIEF COMMISSIONER OF STATE REVENUE

In Al-Saeed and Association Pty Ltd ATF Al-Saeed Education and Welfare Trust v Chief Commissioner of State Revenue,1 a charitable trust was established for the advancement of public education and welfare.

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