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Grant of an option to lease / grant of lease NSW

09/10/2023

The New South Wales (NSW) Chief Commissioner’s guidelines on stamp duty and property leasing provide essential guidance for calculating the dutiable value of complex lease agreements.   Understanding these rules is vital for developers, landholders, and businesses involved in leasing property, especially with conditions that require the lessee to undertake construction or improvements. This article aims […]

NSW Budget 2023-24: Major changes to the NSW duty

03/10/2023

The NSW Budget delivers a $3.1 billion housing and planning investment package to address the state’s housing crisis. However, the property sector will also face increased taxes as the Government announced some significant tax changes in the Budget. SW experts has summarised all these changes below. 1. Corporate reconstruction and consolidation exemption concession amended to […]

NSW property tax reform

22/06/2022

The NSW Government has announced first home buyers will be able to choose to pay an annual property tax instead of stamp duty. This significant proposed property tax reform aims to reduce the upfront cost for purchasing a home. First home buyers purchasing properties up to $1.5m as their principal residence will now be able […]

NSW significantly expands stamp duty regime

06/04/2022

Broad ranging stamp duty amendments currently being considered in NSW include extending duty to change of beneficial ownership transactions, expanding anti-avoidance provisions, increasing penalties for SGEs and introducing promoter penalties. On 23 March 2022, the State Revenue and Fines Legislation Amendment (Miscellaneous) Bill 2022 (NSW) was introduced into the New South Wales Legislative Assembly. The […]

NSW State Budget - Stamp Duty Proposal

27/11/2020

As one of the biggest financial barriers to homeowners, the proposed changes to the NSW Stamp Duty regime may bring NSW residents the freedom to pay an annual property tax instead of an upfront duty. A consultation Paper, which proposes to replace the current stamp duty and land tax with a single annual property tax […]

NSW 2020/21 State Budget

18/11/2020

The NSW Government has tabled a 2020-21 State Budget which is very much focused on job creation and the improvement of government services, whilst continuing to keep people safe. Key Takeaways Projected deficit of $16bn (2019-20 deficit $6.9bn). Return to surplus by 2024-25 $29bn committed to economic support measures (including pre-budget measures) in response to the […]