Terryw wrote:
misleading and deceptive conduct under the Australia Consumer Law. See schedule 2 of the Competition and Consumer Act 2010

This is indeed true and has been confirmed in the NSW Court of Appeal in Statewide Developments Pty Ltd v Higgins [2011] NSWCA 35.

Terryw wrote:
CGT is a commonwealth tax so no matter where it is there would be tax payable. Stamp duty is state based, in NSW you would pay 0.6% stamp duty on the transfer of the shares which would be much less than transferring title to the property. Also stamp on shares in private companies are supposed to be abolished at some time – possibly…[Read more]

Hi terry,

Thanks for your reply.

Regarding:

Terryw wrote:
Disposal of shares by a trust would result in CGT and stamp duty in some states. As the discretionary trust must vest then this will result in the CGT down the track too.

I am in NSW. I'm not sure if CGT and stamp duty applies.

However, if I understand the situation correctly, the…[Read more]