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Peter McMahon

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Peter McMahon is a senior consultant in the Sydney office of Baker & McKenzie where he focuses on stamp duty, GST structuring and advisory work. Peter has been in legal practice since 1976, and is widely recognized as one of Australia’s leading indirect tax lawyers. Peter was previously a partner and consultant with a multinational professional services firm from 2006 to 2015, and prior to that a partner with a leading international law firm from 1997 to 2006.
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Australia: NSW State Budget 2020/21

by , , , and 8 Mins Read

The NSW State budget for 2020/21 was handed down on 17 November 2020 (“Budget”). The Budget contains measures that:

provide payroll tax relief and a program to encourage domestic and international businesses to relocate their head office, or expand their jobs footprint in NSW
allow land tax discounts
give transfer duty concessions for first home buyers and bush fire relief.

The Treasurer has also released a consultation paper setting out a significant proposal for tax reform, effectively replacing stamp duty over time with a property tax levied at higher rates than the current land tax.