Transfer of non-quoted shares
The NSW Treasurer, The Hon. Michael Costa MLC, has announced the changes to duties as part of the 2008 State Budget.
The State Revenue and other Legislation Amendment (Budget) Act 2008 abolishes duty on the transfer of commercial fishery shares on and from 1 January 2009.
The Duties Amendment (Abolition of State Taxes) Act 2006 abolishes duty on the transfer of non-quoted shares or units on and from 1 January 2009.
What's new
Rates of duty
The rate of duty chargeable, is 60 cents per $100, or part, of the dutiable value of the marketable securities.
A minimum rate of duty of $10 is charged in respect of a transfer of shares of a corporation:
the shares of which are not listed on a recognised stock exchange, and
that is not the legal or beneficial owner of land in NSW
duty is payable on the market value or consideration paid, whichever is greater.
Note: Land rich duty will still be payable in certain circumstances.
More information
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.
