Transfer
- The items listed below are not links. They indicate where you are in this process.
Start
Prior use of land
Transferee
Continuation of business use
Ancestor
Exemption
Not eligible
As part of its Mini Budget Announcement on 11 November 2008 the NSW Government announced that the abolition of duty on the transfer of business assets (other than land), statutory licences or permissions is 1 July 2012.
A transfer of land may be exempt from duty where the land, or an interest in the land, is currently being used for primary production.
To receive an exemption:
the transferee must be a natural person
the transferor or, where the transferor is a company or a trustee of a trust, the person directing the transferor, must be an ancestor of the transferee
the land immediately prior to the transfer must have been used for primary production in connection with a business carried on by the transferee or their ancestor (either alone or with others)
the business of primary production must continue to be carried on by the transferee (either alone or with others) after the transfer is completed.
Fractional interests, shares and other property types
A transfer of a fractional interest in the land may be eligible for an exemption if it meets the above criteria.
As part of its Mini Budget Announcement on 11 November 2008 the NSW Government announced that the abolition of duty on a sale of shares in a share management fishery is 1 July 2012.
Other types of property will qualify for the exemption provided the property is an integral part of the business of primary production; for example, a statutory licence issued under the Water Management Act 2000.
More information
