To Fix or Not to Fix
Discover the key differences between “fixed”, “non-fixed”, and “special” unit trusts and their impact on tax and land tax benefits. […]
Increased Duty for Discretionary Trusts, SMSFs & LRBAs in NSW
Current as of: 13 February 2024.
The Duties Act 1997 (NSW) has been amended so that, from 1 February 2024:
- Duty on the establishment of trusts over non-dutiable property in NSW increases from $500 to $750.
- Duty on the establishment of LRBAs in NSW increases from $500 to $750 (assuming additional conditions satisfied).
- Duty on transfers of dutiable property from custodian trustees to SMSFs increases from $500 to $750 (assuming additional conditions satisfied).
- Duty on transfers of dutiable property as a result of a change in trustee in discretionary trusts (assuming trustee excluded from being beneficiary) and SMSFs increases from $50 to $100.
If you have any questions, please contact us.
