Transfer of land and business and/or goods

Where an arrangement involving a dutiable transaction over an interest in land includes the transfer of goods used in connection with a business carried on or in connection with the land, the goods sold under the arrangement also form dutiable property.

The following goods will not form dutiable property:

• Goods that are stock-in-trade.
• Materials held for use in manufacture.
• Goods under manufacture.
• Goods held or used in connection with primary production.
• Livestock.

For transfers of land upon which a business is conducted, the unencumbered value of that land may be difficult to determine and a valuation in accordance with Revenue Ruling DA-029 will be required.

Related guidance

• Revenue Ruling DA-029 – Transfers of land and business

1. Digital Duties Form.
2. A copy of the contract of sale, including all special conditions.
3. A copy of a sale of business agreement (if any), including a breakdown of the values attributed to the plant and equipment and the goodwill.
4. The asset register showing the written-down book values of the plant and equipment sold under the arrangement.
5. A formal valuation from a certified practicing valuer of the unencumbered value of the land. See Revenue Ruling DA-029.