Company Registration

I was told to register my company in Victoria for stamp duty reasons - why?

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2 answers

user
This is an answer

  • user

    Answer: I own another company which is an Incorporation service called Australia Incorporation Services in Northern NSW and essentially is is driven by where the deeds are stamped due to the stamp duty requirements of each state. We have an office in Burleigh and stmp the contacts in Qld for that reason. Saves approx. $500.

    • Matthew Denehy
    • 13 Oct 2016
    • 11:30 AM
  • user

    Answer: Robert to add to my comment below, NSW, VIC and SA have now all abolished stamp duty on business transfers. There are some duty taxes (stamp duty) payable for businesses in Qld, WA and Tasmania. Check out the different state websites, as there are exemptions and different rates for different states.

    • Dave John
    • 06 Jul 2016
    • 09:11 PM
  • user

    Hi Robert - the reason would be that Victoria do not charge stamp duty on the transfer or sale of assets. Many Australia wide businesses register in Victoria for this reason, so they don't get stung with stamp duty when they sell their business. NSW just abolished stamp duty (from 1 July 2016) - so if you are NSW resident, this impost will no longer impact you. Not sure about other States

    • Dave John
    • 06 Jul 2016
    • 03:30 PM
    • user

      Stamp Duty also abolished in South Australia

      • Becky McNamara
      • 06 Jul 2016
      • 04:51 PM
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