Landholder Duty Exemptions NSW for Deceased Estates

163A General Exemptions

1. An acquisition by a person of an interest in a landholder is an exempt acquisition--
   1. if the interest was acquired in the person's capacity as--
      1. a receiver or trustee in bankruptcy, or
      2. a liquidator, or
      3. an executor or administrator of the estate of a deceased  person, or
   2. if the interest was acquired solely as the result of the making of a compromise or arrangement with creditors under Part 5.1 of the  Corporations Act 2001 of the Commonwealth that has been approved by a court, or
   3. if the interest concerned is acquired solely from a pro rata increase or decrease in the interests of all unit holders or shareholders, or
   4. if the interest was acquired solely as the result of the distribution of the estate of a deceased  person, whether effected in the ordinary course of execution of a will or codicil or administration of an intestate estate or as the result of the order of a court, made under Chapter 3 of the  Succession Act 2006 or otherwise, varying the application of the provisions of a will or codicil or varying the application of the rules governing the distribution of the property of an intestate estate, or
   5. if the  land holding of the  landholder comprises  land used for primary production and the Chief Commissioner is satisfied that, had the  landholder  transferred the  land to the  person acquiring an interest as a result of the acquisition immediately before that acquisition, the  transfer of the  land would not be chargeable with duty under this Act because of the application of section 274, or
   6. if the acquisition of an interest in a  landholder would be chargeable with duty of $50 under  section 54 or  54A if the property being acquired were  land in New South Wales and the Chief Commissioner is satisfied that the acquisition is not part of a scheme to avoid duty under this Chapter, or
   7. if the interest concerned was acquired before the  landholder held  land in New South Wales, or
   8. if the interest concerned is an interest in a private unit trust scheme acquired before 10 June 1987, or
   9. if the interest concerned is an interest in a private  company acquired before 21 November 1986, or
   10. if the interest concerned is an interest in a  private landholder acquired before 1 July 2009 and, at the time of its acquisition, the  private landholder was not a  land rich  landholder within the meaning of Chapter 4A (as in force before its repeal by the  State Revenue Legislation Further Amendment Act 2009 ), or
   11. if the interest concerned is an interest in a  public landholder acquired before 1 July 2009.
2. Without limiting subsection (1), an acquisition by a  foreign person of an interest in a  landholder is an exempt acquisition for the purposes of duty chargeable under Part 2B if the interest concerned is an interest in a  private landholder acquired before 21 June 2016.

Please be advised this is general information only, and is not to be taken as legal advice. If you would like more information, or have a legal query, please contact Abbott & Mourly directly.
Reviewed: 17/01/2024