Sub-sales & Stamp Duty (Victoria)
58m CPD time
Difficulty: Advanced
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Why are sub-sales and transfer duty relevant to tax agents and their clients, if there is property situated in Victoria involved?
Andrew Henshaw and Joel Garrett of Velocity Legal warn of the pitfalls of double duty if sub-sale provisions are triggered - which means purchasers might be liable to pay transfer duty, colloquially known as stamp duty, twice!
This session covers:
What are sub-sales?
Why are they important to tax agents - including recent case law about advising on state taxes (Galea v Camilleri [2023] NSWSC 206)
Recap of transfer duty in Victoria
The nomination process
An introduction to the sub-sale provisions - including what is defined as "land development"
Possible exemptions from the sub-sale provisions
Download the slides in the Resources tab.
Date recorded: 24 May 2023