Queensland Consolidated Acts Queensland Consolidated ActsFor the purposes of section 40 and subdivision 3, a lease granted for an initial term of not more than 10 years, or for at least 10 but not more than 30 years, is taken to be a lease for more than 10 years or more than 30 years if the lease includes an option to renew or extend the lease that, if exercised, would extend the term of the lease for more than 10 years or more than 30 years.