Authority Update - NSW - April 2017

NSW Office of State Revenue (OSR) have issued a revenue ruling with regards to G 010 - Surcharge Land Tax and Duty.

NSW Office of State Revenue have issued the following revenue ruling:

G 010 - Surcharge Land Tax and Duty - Discretionary trusts 

The ruling exempts discretionary trusts from surcharge tax, if the trust deed is amended to remove foreign persons from the list of beneficiaries. This takes effect at any time between the introduction of the surcharge (21/6/2016) and the present date, or within six months after the liability was assessed.

For more info regarding this ruling view here

For other information, hints and tips for duties and taxes, find the full revenue news here

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Disclaimer: The information herein has been prepared by SAI Global Property Division Pty Ltd ACN 089 586 872 from information released by the Authority cited on this page. It is provided as general background information only; it is not complete; and it does not comprehensively address this subject matter. Readers should not consider the information so provided as advice nor as a recommendation to take any particular course of action. Persons needing advice should consult their own solicitor, accountant or other professional adviser.