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Key developments

  • Review of the State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022 (NSW)
  • Inquiry into proposed changes to liability and entitlements for psychological injury in New South Wales
  • Closure of Community Justice Centres
  • Australia’s Evolving Capital Markets: A discussion paper on the dynamics between public and private markets
  • Review of the NSW Companion Animals Law
  • NSW Plan for Nature independent review
  • Remake of the Births, Deaths and Marriages Registration Regulation 2017

Review of the State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022 (NSW)

The Revenue NSW/Law Society Liaison and Business Law Committees contributed to a submission, to the Deputy Secretary and Chief Commissioner of State Revenue, on amendments made to the Taxation Administration Act 1996 (NSW) and the Duties Act 1997 (NSW) by the State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022 (NSW). The review sought feedback on whether the policy objectives of the amendments remain valid and whether the terms of the amendments remain appropriate for securing the policy objectives.

In relation to amendments made to the Duties Act 1997 (NSW), we submitted that:

  • the introduction of the ‘change in beneficial ownership provisions’ does more than enhance revenue integrity as it effectively broadens the revenue base;
  • the ‘imposition of duty on acknowledgment of trust’ provision does not merely respond to a court decision, but again broadens the revenue base; and
  • amendments made to a number of exemptions fulfil the policy objective of ensuring the equity of exemptions and concessions under the Duties Act 1997 (NSW).

In relation to amendments made to the Taxation Administration Act 1996 (NSW), we acknowledged the need for robust anti-avoidance provisions and supported the underlying policy objective of such provisions. However, we raised concerns about the nature of some of the amendments made and whether the terms of the amendments remain appropriate for securing the policy objectives.

On 16 May 2025, the report on the review was tabled in Parliament by the Hon Courtney Houssos MLC, Minister for Finance.

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