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DUTIES ACT 2001 - SECT 593 Reassessment—stamping before advance

DUTIES ACT 2001 - SECT 593

Reassessment—stamping before advance

593 Reassessment—stamping before advance

(1) This section applies if—
(a) a mortgage was first signed before 1 July 2008; and
(b) the mortgage was, under section 257, properly stamped for an amount of advances secured by the mortgage; and
(c) the advances were not all made before 1 July 2008.
(2) The mortgagor may apply to the commissioner for a reassessment of mortgage duty paid in relation to the advances not made before 1 July 2008.
(3) The application must—
(a) be in the approved form; and
(b) include the mortgage document; and
(c) be made by 31 December 2008.
(4) The commissioner must make the reassessment.