DUTIES ACT 2001 - SECT 28
Apportionment of particular dutiable transactions relating to existing and new rights
DUTIES ACT 2001 - SECT 28
Apportionment of particular dutiable transactions relating to existing and new rights
28 Apportionment of particular dutiable transactions relating to existing and
new rights
(1) This section applies for determining—
(a) the consideration for a
dutiable transaction for or relating to an existing right or acquisition of a
new right on its creation, grant or issue if the right is exercisable or
relates to the conduct of a business or activity outside Queensland; or
(b)
the unencumbered value of dutiable property that is an existing right if the
right is exercisable or relates to the conduct of a business or activity
outside Queensland; or
(c) the unencumbered value of a new right on its
creation, grant or issue if the right is exercisable or relates to the conduct
of a business or activity outside Queensland.
(2) A reference in this chapter
to consideration for the transaction or the unencumbered value of the right is
taken to be a reference to the amount that represents the same proportion of
the consideration or unencumbered value that the unencumbered value of the
right, to the extent it is exercisable or relates to the conduct of a business
or activity in Queensland, bears to the total unencumbered value of the right.
(3) However, the commissioner may decide the consideration for the
dutiable transaction or the unencumbered value of the right on another basis
if the commissioner is satisfied the other basis would be more appropriate in
particular circumstances.
