Australia: Bill addressing duty and land tax treatment of corporate collective investment vehicles passes Parliament (New South Wales)
The Revenue Legislation Further Amendment Bill 2024 has passed Parliament, without amendments.
The New South Wales (NSW) government’s bill addressing the duty and land tax treatment applicable to corporate collective investment vehicles (CCIVs) passed the state Parliament on November 21, 2024, without amendments.
The Revenue Legislation Further Amendment Bill 2024 contains several amendments to various Acts including the state's Duties Act 1997 and the Land Tax Management Act 1956, which will impose stamp duty and land tax at the sub-fund level for CCIVs.