Mortgage duty remains in NSW

The New South Wales government will defer its commitment to abolish mortgage duty, transfer duty on marketable securities and transfer duty on non-real property business assets.

The deferral is required to help fund the implementation in NSW of national education reforms.

Cameron Steel, special counsel at Gadens Lawyers, wrote in a note yesterday that "while the announcement refers to the introduction of an efficient dividend to be put in place from 1 July 2015, there is no commitment to abolish the stamp duties by that date."