Stamp duty rebate

THE State Government has announced a stamp duty rebate for landowners who held their family home in a company or trust on September 13 2001, when those landowners were not eligible for land tax exemptions.The legislative change was made following concerns from landowners. Treasurer Eric Ripper said while those affected were keen to take advantage of the land tax exemption they were unable to wind their company or trust without also having to pay stamp duty.“These landowners will soon be able to remove their family home from a company or trust without paying the duty and then, from 2006-07, will be eligible for the exemption.” About 630 landowners may be eligible for the rebate.

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