DUTIES ACT 2001 - SECT 231 Imposition of AFAD

DUTIES ACT 2001 - SECT 231

231 Imposition of AFAD

(1) This chapter imposes an additional amount of transfer duty, landholder duty or corporate trustee duty on particular relevant transactions.

(2) The additional amount of duty is
"additional foreign acquirer duty" or
"AFAD" .

(3) Part 3 provides for when AFAD is imposed on a relevant transaction.

Note—

An exemption for AFAD is dealt with in part 4A .

(4) Part 4 provides for how AFAD is calculated.

(5) The AFAD imposed on a relevant transaction is added to the duty imposed on the transaction under chapter 2 or 3 .

(6) To remove any doubt, it is declared that, unless the contrary intention appears—

(a) a reference in this Act to transfer duty is a reference to duty imposed under chapter 2 and AFAD relating to transfer duty imposed under this chapter; and

(b) a reference in this Act to landholder duty is a reference to duty imposed under chapter 3 , part 1 and AFAD relating to landholder duty imposed under this chapter; and

(c) a reference in this Act to corporate trustee duty is a reference to duty imposed under chapter 3 , part 2 and AFAD relating to corporate trustee duty imposed under this chapter.