Stamp duty on land bought for student accommodation facility:

Purchase of land in Adelaide for student accommodation was held not to be residential land and thus no stamp duty was payable. If classified as residential, stamp duty would have been $6,868,830.00 including a foreign ownership surcharge. The court focused on the commercial nature of the transaction.

Case: PERPETUAL CORPORATE TRUST LIMITED v COMMISSIONER OF STATE TAXATION [2022] SASC 7.