These were abolished by the federal government in 1979 and by the NSW government from 31 December 1981. As a result, the only taxes on a disposal of property, either during the owner’s lifetime or on death, is the stamp duty payable on a conveyance, and capital gains tax (if any).

Death itself does not amount to a disposal for capital gains tax purposes (1997 Act Division 128), and it may be possible to defer tax on the estate’s assets by leaving specific assets to beneficiaries under a will. Tax is only payable when the beneficiaries dispose of the asset.