Victorian Tribunal decision casts wide net on ‘associated transaction’ for landholder duty

This decision may have implications for fund raisings given the wide view taken on what is an “associated transaction” for Victorian landholder duty purposes, as outlined by Sarah Shaw, Jenny Lee, Robert Nguyen and Jacqueline Wood.

The Victorian Civil and Administrative Tribunal decision in Oliver Hume Property Funds (Broad Gully Rd) Diamond Creek Pty Ltd v Commissioner of State Revenue (Review and Regulation) [2023] VCAT 634 was handed down on 14 June 2023. It was decided that the initial subscription by investors under an Information Memorandum was an “associated transaction” for Victorian landholder duty purposes (and therefore subject to duty) because it was considered to amount to “substantially one arrangement”. ...

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Authors: Sarah Shaw, Jenny Lee,

Published Date: 07 July 2023