Changes to certain Transfer dutiable dealings
Changes made to the Duties Act 1997 by the State Revenue and Fines Legislation Amendment Act 2022 required duty to be paid on a number of additional dealing types. In October last year, two dealings were upgraded to allow duty to be assessed within the electronic workspace. See our previous announcement regarding the first tranche of dealing changes: https://www.registrargeneral.nsw.gov.au/news/changes-to-dutiable-dealings
On 3 August 2024, a further two upgraded electronic dealings will be released for use, bringing to four the total number of new dealing types able to be assessed for duty in the electronic workspace, being:
- Transfer granting easement,
- Transfer granting an easement in gross,
- Transfer creating a profit à prendre. and
- Transfer creating a forestry right.
Duty assessment will be required if consideration is payable.
Corresponding versions of the four dealings have also been created to allow for circumstances where there is no consideration payable (and therefore no duty assessment required).
For further information please visit https://www.nswlrs.com.au/About/About/Announcements/213
If you have questions regarding transfer duty for your particular transaction, please contact Revenue NSW on 1300 139 814.