What is liable

The items listed below are not links. They indicate where you are in this process.

• Start

• Types of property

• Location of property

• Apportionment

• Liable

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.

The sale or transfer of a business generally involves the transfer of the various items of property used in the conduct of the business, eg. goodwill, plant & equipment, stock in trade etc.

Duty is assessed on the combined dutiable value of all items of dutiable property agreed to be sold or transferred.

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The dutiable value of dutiable property is the greater of:

For more information on what constitutes dutiable property continue on to 'Types of property' page.

For the sale or transfer of a business to be liable to duty in NSW, the business assets must have a connection to NSW. For more information continue on to 'Location of property' page.

Where a business is conducted in more than one jurisdiction the dutiable value of certain asset may be apportioned across the various jurisdictions for assessment purposes. For more information on apportionment continue on to 'Apportionment' page.

Note: in determining whether or not a sale of business is liable to duty, it is immaterial whether the sale or transfer was effected by a written instrument or by some other means, including an oral arrangement.

In the case of a sale by oral arrangement Form OSD 046 must be completed and submitted to OSR for the assessment of duty.

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