(a) transfer duty has been paid or is payable
on a dutiable transaction that is a trust acquisition for a trust, other than
a discretionary trust; and
(b) land-holdings held by the trustee as trustee
of the trust at the time of the transaction has been included in working out
the dutiable value of the relevant acquisition under this part; and
(c) the
acquisitions are part of the 1 arrangement.
(2) Landholder duty imposed on
the relevant acquisition must be reduced by the amount of transfer duty paid
or payable for the land-holdings to the extent that the land-holdings were
included in working out the dutiable value of the relevant acquisition under
this part.
