1 July 2008 marks a significant change to the stamp duty regime in WA. The replacement of the Stamp Act with the Duties Act 2008 is not simply a "rewrite". The new Act is fundamentally different. There is also a broadening of the stamp duty base in some areas and a narrowing of the base in other areas. This paper provides a practical examination of the new Act with a particular focus on transactions common in the SME area. Areas covered include:
- dealings in companies, trusts and partnerships
- business assets and the proposed abolition of duty on business assets
- intra-group transfers and in-specie transfers.