Options and NSW duty: Practical considerations
Source: Taxation In Australia Journal Article
Published Date: 1 Jul 2020
The use of options in real estate transactions is common. However, the NSW duty implications of these arrangements are not always well understood by advisers. Failure to understand the duty position can result in multiple imposts of duty " a cost that often arises when a taxpayer is least able to afford it. This article outlines the NSW duties regime applying to options, including the nature of options, and discusses issues around option transfers, the nomination of another person to exercise the option, novations, the assignment of option rights, and issues arising from simultaneous put and call options. The article also outlines a number of practical issues that should be considered by taxpayers and their advisers before entering into these arrangements.
Sorry, this is subscriber only content.
To gain access to this material and much more - Subscribe Now.
(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).
Already a Subscriber? Login now
Details
- Published By: Cullen Smythe CTA
- Published On:1 Jul 2020
The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.
The Tax Institute
(ABN 45 008 392 372 (PRV14016))
("TTI")
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
Copyright Statement
All materials provided on this site are protected by copyright and are owned by or licensed to TTI.
Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.
Tags
Share this page