DUTIES ACT 1997 - SECT 104C
Concession--transfer of land used as principal place of residence and for other purposes
DUTIES ACT 1997 - SECT 104C
Concession--transfer of land used as principal place of residence and for other purposes
104C Concession--transfer of land used as principal place of residence and for
other purposes
(1) If a transfer or agreement for transfer of residential land would be
exempt from duty under section 104B, but for the fact that the land has been
used or is intended to be used for a purpose other than a residential purpose,
the duty chargeable on the transfer or agreement is to be calculated after
reducing the dutiable value of the land by the residential apportionment
factor.
(2) The residential apportionment factor is calculated by subtracting
the non-residential apportionment factor from 1.
(b) if paragraph (a) is not applicable--such other apportionment factor as the
Chief Commissioner considers fair and reasonable to reflect the use of the
land for non-residential purposes, subject to subsections (4) and (5).
(4) If
there is no apportionment factor entered in the Register of Land Values in
respect of the land value of the land, and the land is mixed development land
or mixed use land, the Chief Commissioner may request the Valuer-General to
determine the apportionment factor in respect of the land concerned.
(5) If a
request is made under subsection (4)--
(a) the Valuer-General must determine
the apportionment factor concerned and enter it in the Register of Land Values
under the Valuation of Land Act 1916 , and
(b) that apportionment factor is
to be applied as the non-residential apportionment factor in respect of the
residential land.
Note : Divisions 5 and 5A of Part 1B of the Valuation of
Land Act 1916 allow objections to be made against the amount of the
apportionment factor.