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
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.
Please see full alert below for more information.
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