Bumper
18-04-2005, 05:59 PM
This is my first posting to the Forum and hence may be subject to error!!
Is there anyone who may know a little about the NSW Vendor Tax and more particularly if the following situation gives rise to liability to the Vendor Tax.
A Person dies prior to 01/07/04 (I think that this is the date the NSW Vendor Tax commenced) and leaves land in NSW (which was originally purchased prior to 9/85). The land has been transferred to the Executor of the Estate who now wishes to sell the land and pay the proceeds to the relevant beneficiary.
The question is: IS THERE A LIABILITY FOR VENDOR TAX and if so how is the calculation made? Any ideas on this matter would be appreciated.
With Thanks
Is there anyone who may know a little about the NSW Vendor Tax and more particularly if the following situation gives rise to liability to the Vendor Tax.
A Person dies prior to 01/07/04 (I think that this is the date the NSW Vendor Tax commenced) and leaves land in NSW (which was originally purchased prior to 9/85). The land has been transferred to the Executor of the Estate who now wishes to sell the land and pay the proceeds to the relevant beneficiary.
The question is: IS THERE A LIABILITY FOR VENDOR TAX and if so how is the calculation made? Any ideas on this matter would be appreciated.
With Thanks