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Call to review Duties Act 2000

Call to review Duties Act 2000

By Commercial Law Section

Duties Taxation 

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The Law Institute of Victoria (LIV) has asked the Commissioner of the State Revenue Office of Victoria to review the Duties Act 2000 - specifically the provisions that pertain to the definitions of 'wholesale unit trust scheme' and 'public unit trust scheme' under the Duties Act 2000 (Vic). The LIV is of the view that the current complex definitions of these schemes are unnecessary and act to discourage investment in Victoria. 

The proactive submission also includes the view that the requirements under the Duties Act 2000 (Vic) have failed to keep up with modern developments in investment structures, are unnecessarily complex and compare unfavorably to legislation of the other States and Territories. 

The LIV set out a number of issues, considerations and recommendation in its submission for the Commissioner's consideration. 

Read the submmission here (PDF).

Contact

Commercial Law Section

E: commerciallawsection@liv.asn.au

T: (03) 9607 9311

 


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