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  Miscellaneous 2003

The Stamp Duty and CGT Issues upon Transferring Primary Production Assets between Related Parties

Source: Western Australia

Published Date: 31 Oct 2003

 
Advisers are often consulted on the income tax and CGT implication of transactions, but not the resulting stamp duty and GST implications. This presentation explores the practical stamp duty and GST issues upon transferring primary production assets between related parties, including the specific concessions available for primary producers.

GST issues include:
- the supply of a going concern
- subdivided farm land
- residential premises
- agistment
- registrations and input tax credits
- discretionary trusts

Stamp Duty issues include:
- farming property exemptions
- land-rich corporations
- losses
- partition of property
- stamp duty
- review of the recent amendments and proposed amendments to the Stamp Act.

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Author(s)

Individual Session

Transferring Primary Production Assets - Stamp Duty and GST

Author(s): Adam Levin
Materials from this session:

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Details

  • Published By: Adam Levin
  • Published On:31 Oct 2003
  • Took place at:Cottesloe Beach Hotel, Cottesloe

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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.

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("TTI")

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