(1) For section 179A, in working out the amount of transfer duty that would
be imposed under chapter 2 , the dutiable value of the dutiable transaction is
the unencumbered value of all Queensland land-holdings of the landholder at
the time of the acquisition, reduced by the proportion of the value
represented by any excluded interest of the person at the time of the
acquisition.
(2) In this section—
"excluded interest" , of a person who makes a relevant acquisition in a public
landholder, is any interest constituting the relevant acquisition acquired by
the person, or a related person—
(a) before 1 July 2011; or
(b) at a time
when the landholder did not hold land in Queensland.
