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Parliamentary Questions

Question Without Notice No. 41 asked in the Legislative Council on 17 May 2017 by Hon Brian Ellis

Parliament: 40 Session: 1
Answered on 17 May 2017

      41. Hon BRIAN ELLIS to the minister representing the Treasurer:
With respect to stamp duty on the transfer of managed fishing licences to family members, the response to question without notice 305 of 3 April 2008 stated that under clause 28 of the Duties Legislation Amendment Bill 2007, effective from 1 July 2010, stamp date duty would not be charged on the transfer of fishing licences, including craypots, irrespective of whether the transfer was between family members or unrelated persons. However, the response to question without notice 444 of 30 June 2010 stated that transfer duty would continue to apply to transfers between family members after 1 July 2010, but that duty would no longer apply on or after 1 July 2013. I understand that due to budgetary constraints the July 2013 proposal did not proceed.
(1) Will the current government abolish this stamp duty?
(2) If yes to (1), when?
(3) If no to (1), why not?
I thank the honourable member for some notice of the question. The following information has been provided to me by the Treasurer.
      (1)–(3) The previous Labor government legislated to abolish transfer duty on non-real business property, such as goodwill, statutory licences and intellectual property from 1 July 2010. Subsequently, the former Liberal–National government delayed the abolition until 1 July 2013 and then in May 2013 indefinitely deferred the abolition until budget circumstances allowed. Unfortunately, given that the previous Liberal–National government had such a reckless attitude to the finances of the state and, as such, left the state in such a poor financial position, the state government is not in a position to abolish this stamp duty at this time.