Big changes for NSW stamp-duty regime
By Nathan Deveson and Daniele Rostirolla
Significant changes to the current New South Wales (NSW) stamp-duty regime are expected following the introduction of the State Revenue Legislation Further Amendment Bill 2014 into Parliament on 29 May 2014 and the release of the state budget on 17 June 2014.
The duty treatment of nominations under options will change, resulting in more duty payable. The new provisions are likely to result in the commissioner paying more attention to the value of land at the time options are exercised, in particular where the value of the land is greater than the option exercise price.
These new rules apply in addition to the existing provisions relating to put and call options…
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