from the land or considered to be legally separate to the land. or interests in or interests in (Discretion to the land. the land ignore the fixed item in certain Corporate Reconstruction Relief Companies, Inconsistent treatment of unit trusts and requirements to keep but a limited Companies group in place in some jurisdictions Yes Yes exemption for Yes Yes Yes Yes only fixed trusts Relief extends to unit trusts: only Inconsistent pre or post-association tests that limit availability 12 month pre- 3 years pre- 3 years pre- 12 month pre- 3 year where groups have not been in place and and and and None None None test tests tests tests tests Top hatting/consolidation relief for interposing entity between Yes, Limited relief shareholders and existing entity companies via ex gratia and listed unit None Yes Yes (refer to Yes Limited relief Yes trusts and Information widely held Circular 35) unit trusts only Duty on business property Duty on Retained duty on goodwill, IP and P&E transferred with goodwill and business intellectual property abolished 1 July 2008. No P & E only if specific transferred Goodwill, IP, Goodwill, IP, exemption for together with P&E* Goodwill, IP, P&E + trading P&E only P&E and duty land. P&E stock and *Certain P&E payable on Duty not debts are exempt certain goods charged on transferred as goodwill or IP. part of a transaction involving dutiable property.
or interests in the land. or interests in the land from the land or considered to be legally separate to the land. (Discretion to ignore the fixed item in certain Corporate Reconstruction Relief Inconsistent treatment of unit trusts and requirements to keep group in place in some jurisdictions Relief extends to unit trusts: Yes Yes Companies only Companies, but a limited exemption for fixed trusts only Yes Yes Yes Yes Inconsistent pre or post-association tests that limit availability where groups have not been in place 12 month pre- and tests None 3 years pre- and tests 3 years pre- and tests None 12 month pre- and tests 3 year test None Top hatting/consolidation relief for interposing entity between shareholders and existing entity None Yes Yes Yes, companies and listed unit trusts and widely held unit trusts only Limited relief via ex gratia (refer to Information Circular 35) Yes Limited relief Yes Duty on business property Retained duty on goodwill, IP and P&E transferred with business P&E only Goodwill, IP, P&E Goodwill, IP, P&E + trading stock and debts Duty on goodwill and intellectual property abolished 1 July 2008. No specific exemption for P&E and duty payable on certain goods transferred as part of a transaction involving dutiable property. P & E only if transferred together with land. Duty not charged on goodwill or IP. Goodwill, IP, P&E* *Certain P&E are exempt
Differences-in-core-definitions-and-concepts-between-state-territory-and-federal-tax-laws-.docx