DUTIES ACT 2001 - SECT 37 When transaction for particular Queensland business assets not dutiable transaction

DUTIES ACT 2001 - SECT 37

37 When transaction for particular Queensland business assets not dutiable transaction

(1) If a debt of a business that is evidenced by a negotiable instrument is the subject of a transaction, the transaction is not a dutiable transaction unless—

(a) another type of dutiable property is the subject of the same transaction or, under section 30 , it is aggregated with a dutiable transaction; or

(b) under the transaction, the negotiable instrument is or is to be transferred with all, or substantially all, of the negotiable instruments of the business.

(2) If a supply right of a business is the subject of a transaction, the transaction is not a dutiable transaction unless—

(a) another type of dutiable property is the subject of the same transaction or, under section 30 , it is aggregated with a dutiable transaction; or

(b) under the transaction, the supply right is or is to be transferred with all, or substantially all, of the supply rights of the business.

(3) If intellectual or personal property of a business is the subject of a transaction, the transaction is not a dutiable transaction unless, under section 30 , it is aggregated with 1 or more of the following—

(a) a dutiable transaction for a Queensland business asset, other than intellectual or personal property;

(b) a dutiable transaction for land in Queensland.

(4) For subsections (1) (a) , (2) (a) and (3) , section 30 applies as if the transaction were a dutiable transaction.