The Duties Acts continue to evolve with provisions introduced for the taxation of "rights"? and "entitlements"?. This session addressed:
- the meaning of "fixed infrastructure rights' in Western Australia and "economic entitlements' in Victoria
- duty on grants and transfers of fixed infrastructure rights and economic entitlements
- duty on acquisitions of fixed infrastructure rights and economic entitlements in the landholder context
- the scope of the Western Australian fixed infrastructure rights provisions and Victorian economic entitlement provisions
- similar concepts arising in other jurisdictions, including "an existing right to exploit dutiable property"? and "an existing right to the income from dutiable property"? in Queensland
- the demarcation in NSW between "equity"? interests and "debt"? interests
- commentary from the Western Australian and Victorian Revenue Offices on the administration of the infrastructure rights or economic entitlement provisions and the treatment of certain types of arrangements.