New South Wales Consolidated Acts

DUTIES ACT 1997 - SECT 146A

146A Threshold value of land holdings

(1) For the purposes of this Chapter, the "threshold value" of the land holdings of a unit trust scheme, private company or listed company is the total value of all land holdings in New South Wales of the unit trust scheme or company.

(2) For a land holding that consists of an estate in fee simple in land (other than a strata lot), the value of the land holding is the registered land value of the land as at 1 July in the previous year.

(3) For a land holding that consists of a proportionate interest in an estate in fee simple in land (other than a strata lot), the value of the land holding is the amount determined by applying that proportion to the registered land value of the land as at 1 July in the previous year.

(4) For a land holding that consists of an estate in fee simple in a strata lot, the value of the land holding is an amount that bears to the registered land value of the relevant parcel (as at 1 July in the previous year) the same proportion as the unit entitlement of the lot bears to the aggregate unit entitlement.

(5) For a land holding that consists of a proportionate interest in an estate in fee simple in a strata lot, the value of the land holding is the amount determined by applying that proportion to the amount determined under subsection (4).

(6) The proportionate interests of joint tenants in an estate in fee simple are to be determined as if they were tenants in common in equal shares.

(7) For any land holding for which a value cannot be obtained under the above provisions, the value of the land holding is the unencumbered value of the land holding, determined in the same way as it is for dutiable property under Chapter 2.

(8) For the purposes of this section, the "registered land value" of land (including a parcel) is the land value of the land as entered in the Register of Land Values kept by the Valuer-General under section 14CC of the Valuation of Land Act 1916 .

(9) For the purposes of this section, a "strata lot" means a lot under the Strata Schemes (Freehold Development) Act 1973 , and expressions used in this section in relation to such a lot have the same meanings as they do in that Act.