Posts tagged land owners
Property Developers Hit Hard By "Economic Entitlements" Reforms

The State Taxation Acts Amendment Act 2019 which was recently enacted has resulted in significant changes to the “economic entitlement” provisions of the Duties Act 2000.  Under the changes, a residential developer will be deemed to have acquired an ‘economic entitlement’ to any income, rent or profits generated from the land and will be subject to a duty as if they had acquired a beneficial ownership interest in the land.

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