he State Taxation Amendment Bill 2019 was recently introduced to implement the 2019 Victoria Government budget announcements in state taxes and other previously unannounced measures. This Bill has had significant stamp duty implications for property developers and investors – including changes to the economic entitlement and corporate reconstruction provisions and a new “fixtures” duty.
During the lunch, ABL stamp duty expert Zoe Chung shared the firm’s experience with the State Revenue Office and provided guests with practical guidance on two areas of particular focus:
- the arrangements captured by the economic entitlement provisions, and
- the impact of the removal of the “off the plan” building concession, coupled with the expanded concept of what can comprise “consideration” for a transfer of land.
If you have any further questions, please contact Gia Cari and Zoe Chung.