(1) Subject to section 179B, the landholder duty imposed on a relevant
acquisition made by a person in a public landholder is 10% of the amount of
transfer duty that would be imposed on a dutiable transaction under chapter 2
, if a transfer of all the Queensland land-holdings of the landholder had
happened at the time of the relevant acquisition.
(2) However, for a relevant
acquisition to which section 158(1) (c) applies, no landholder duty is
imposed for an increase in the person’s interest if—
(a) landholder duty
for a relevant acquisition by the person in the landholder has previously been
imposed under this section; and
(b) since making the relevant acquisition for
which landholder duty was imposed, the interest of the person constituting the
previous acquisition has not reduced.
(3) This section has effect subject to
a deduction allowed under sections 185to 188.
