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Recorded Webinars

Recorded Webinar: Duty on lease dealings in NSW: Revenue NSW guidance on recent duty law changes

After much anticipation, Revenue NSW has released two Commissioner Practice Notes (CPNs) dealing with the circumstances in which lease dealings may be dutiable transactions and subject to duty in NSW. This follows amendments to the Duties Act which commenced on 19 May 2022. Those
PRESENTED BY Matthew Cridland Partner - K&L Gates

Date/Time

About the Webinar

After much anticipation, Revenue NSW has released two Commissioner Practice Notes (CPNs) dealing with the circumstances in which lease dealings may be dutiable transactions and subject to duty in NSW. This follows amendments to the Duties Act which commenced on 19 May 2022. Those amendments relate to transactions or dealings involving "a change in beneficial ownership" of dutiable property which were not already subject to duty. The CPNs confirm Revenue NSW considers non-monetary consideration provided for the grant of a lease may trigger duty under the new provisions. The CPN applies retrospectively from 19 May 2022, so it is vital that lawyers, conveyancers, accountants and property investors are across the key changes. This practical session explores common lease transactions and dealings that may now be subject to duty in NSW with a focus on how the reforms will impact your clients. It covers:

  • What is consideration for the grant of a lease?
  • What other transactions or dealings that may be liable to duty (does it include lease renewals, extensions, variations, assignments and surrenders)?
  • Spotlight on leases granted for non-monetary consideration, such as improvements made at the tenant's cost.
  • How do you determine the value of non-monetary consideration?
  • Worked examples

Presented By

Matthew Cridland
Partner, K&L Gates

Mr. Cridland is a Sydney based indirect tax lawyer. He advises clients in relation to all indirect taxes, including goods and services tax (GST), stamp duty, land tax, payroll tax, wine equalisation tax (WET), luxury car tax (LCT), customs duty and excise.

With respect to clients and sectors, his areas of experience include: real property, financial services, corporate mergers and acquisitions, energy and resources, public private partnerships (PPPs) and infrastructure, telecommunications, retail, insolvency and restructuring, and inbound intangible supplies. He also has experience advising both Federal and State Government agencies.

Prior to joining K&L Gates, Mr. Cridland worked at an international law firm where he was the Head of the GST and Customs Duty (Australia).

Who Should Attend?

This webinar is suitable for NSW property investors and their advisers including lawyers, conveyancers and accountants. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD/Training hour. Lawyers can claim up to 1 CPD unit/point – substantive law . This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

WA lawyers – Please note that TEN is unable to verify your completion of recorded webinars to the Legal Practice Board of WA. TEN is an accredited provider

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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