The NSW Budget has announced that the taxes not already abolished under the Intergovernmental Agreement on Federal Financial Relations (IGA), will now be retained (rather than further deferred).
The remaining taxes, being stamp duty on business mortgages, non-quoted marketable securities and transfer duty on non-real business transfers (goodwill, patents and intellectual property), will now be retained to partly fund commitments under the National Education Reform Agreement. The need to retain these taxes will be reassessed when the low value GST import threshold is lowered.
