Vendor transfer duty

March 15, 2005 - 9:28 am

Is this something different from stamp duty? I copied some information about it that the government may implement it in 2004, but heard nothing furher. Has anyone else?
Thanks Jacqui

[woodsmanMember@woodsmanJoin Date: 2004Post Count: 714]

March 15, 2005 - 11:15 am

Jacqui,

I think you are referring to what the NSW government introduced from July 1, 2004, also known as the Vendor or property exit tax.

Yes it is different from stamp duty (applied on a purchase), it is applied against the purchase price of the IP when it is sold and is payable by the seller.

http://www.osr.nsw.gov.au/portal/page?_pageid=33,193927&_dad=portal&_schema=OSRPTLT

March 16, 2005 - 9:01 am

Thanks for that it makes alot more sense. Jacq