Abolition of NSW duties deferred again -

The NSW Government has indicated that the abolition of Inter-Governmental Agreement taxes, including duties on:

- marketable securities (shares and units)

- non-land business assets

- mortgages

that were due to be abolished in NSW effective on 1 July 2013, is "temporarily" deferred.

Implementation of the abolition of stamp duties has been deferred in NSW on a number of previous occasions, and the NSW Government will first need to pass legislation to amend the relevant provisions of the Duties Act 1997 to effect the deferral beyond 1 July 2013. At this time, this amending legislation has not been passed and no deferral date has been announced.