Abolished State taxes
The NSW Treasurer, The Hon. Eric Roozendaal MLC, has announced changes to taxes, duties and benefits as part of the 2008 Mini-Budget. Read more information on the changes announced in the 2008 Mini-Budget.
Duty on mortgages for the purpose of investment housing is abolished from 1 July 2008.
Duty is abolished on lease instruments executed on or after 1 January 2008.
Stamping is not required unless the document falls under one of the following categories:
a) A lease or agreement for lease in respect of which a premium is paid or agreed to be paid (not including any premium paid or payable for a lease of premises in a retirement village within the meaning of section 5 of the Retirement Villages Act 1999)
b) A lease entered into pursuant to an option if an amount is paid or payable for the grant of the option
c) A transfer or assignment of lease
d) A surrender of lease
Duty on mortgages for the purpose of owner occupied housing is abolished from 1 September 2007
Hire of Goods Duty abolished in NSW on 1 July 2007
Vendor duty abolished in NSW from 2 August 2005
Debits tax abolished in NSW from 1 January 2002
Financial institutions duty (FID) and duty on quoted marketable securities was abolished as from 1 July 2001
Accommodation levy was abolished as from 1 July 2000.
More information
