Transfer land or business
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.
This includes deferring the abolition of duty on the transfer of business assets (other than land), statutory licences or permissions to 1 July 2012.
Liability
A sale or transfer of land (including improvements) or a business in NSW is liable to duty.
It is immaterial whether or not the transaction is effected by a written instrument or by other means, including electronic means.
A liability for duty arises when the sale or transfer occurs. However, if the sale or transfer is effected by a written instrument, liability for duty arises when the instrument is first executed.
Duty is payable within 3 months of the date liability arises. The purchaser or transferee is liable to pay the duty.
More information
- Calculator
- Rates and thresholds
- Exemptions and concessions
- First execution
- Land use entitlement
- Formula for dutiable value
- Partition
- GST
- Frequent questions
- Transfer in or not in conformity
- Aggregated transactions
- Definitions
- Apportionment of business assets
- Annulled agreements
- Refunds
- Stamping and Marking Documents before lodging at Department of Lands
OSRAssist
OSRAssist takes you through a series of questions and gives you an indication of whether or not you need to pay duty or are entitled to an exemption.
