Refocusing on Fundamental Principles of Stamp Duty
- Atax, UNSW
- Publication Type:
- Journal Article
- eJournal of Tax Research, 2006, 4 (2), pp. 101 - 116
- Issue Date:
This article refocuses on the fundamental principles of Stamp Duty in the context of the rewrite of stamp duty and tax reform. The article traces the course of these changes through the States in Australia and carefully tracks changes to heads of duty such as lease duty, duty on hire of goods, duty on quoted marketable securities, on business assets etc. The article notes an increasing emphasis on dealings in land and the greater role of land rich duty in the tax base. It examines the constitutional validity of land rich duty as well as flagging the validity of anti-avoidance measures that purport to operate outside of the jurisdiction of a State. The article finally reflects on the pursuit of uniformity amongst the State jurisdictions and expresses the hope that a narrower tax base, a consequence of tax reform, may well return us to the process of consistency of application of duty across jurisdictions.
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