Company deregistration exemptions
Section 199(1)(f) of the Duties Act 2001 allows for a motor vehicle to be transferred without duty if the transfer is in the course of the distribution of assets of a company because of the deregistration or winding-up of the company.
To be eligible for this exemption:
- the transfer must be in the course of a distribution of assets of a company because of the winding-up or deregistration of the company; and
- the new registered operators should be in accordance with the shareholder's entitlement in the assets of the company immediately before the application to transfer.
How to apply
To apply for the company deregistration duty exemption:
- Send an email to firstname.lastname@example.org requesting an exemption under Section 199(1)(f).
- Attach the appropriate supporting documentation.
Applications must include the following supporting information:
Evidence showing who the shareholders of the company were immediately prior to the deregistration or winding-up (eg. an ASIC company search showing the shareholder details); and
Copies of documentation lodged with ASIC to deregister/wind-up the company.