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The NSW Treasurer has confirmed the abolition of a number of duties from 1 July 2016 in her budget for 2016-17.

In summary:

  • mortgage duty will be abolished from 1 July 2016
  • stamp duty on transfers of intangible business assets will be abolished from 1 July 2016 and
  • share transfer duty will be abolished from the same date on transfers of shares in companies registered in NSW or unit trusts whose register is kept in NSW
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