Tas Duties Act: amendments introduced to replace ‘land-rich’ (60% of value) with ‘Landholder’ provisions ($500k land & 50% change for ‘private landholders’ and 90% for ‘public’) and legislated exemption for ‘Corporate Reconstruction and Consolidations’
On 17 August 2017, the Tasmanian Treasurer introduced the Duties Amendment (Landholder and Corporate Reconstruction and Consolidation) Bill 2016 was introduced into the Tasmanian House of Assembly. The Bill will amend the Tasmanian Duties Act to replace their ‘land-rich’ provisions with ‘landholder’ provisions and also to introduce their ‘corporate reconstruction’ exemptions into the Act (rather than have…