Transfer land or business
The NSW Treasurer, The Hon. Michael Costa MLC, has announced the changes to duties as part of the 2008 Budget. Read more information on abolition of duties announced in 2008 State Budget.
The State Revenue and other Legislation Amendment (Budget) Act 2008 abolishes duty on the transfer of business assets (other than land), statutory licences or permissions and poker machine entitlements on and from 1 January 2011.
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.
