DUTIES ACT 2001 - SECT 597
Reassessment—concessions for home mortgages and first home mortgages
DUTIES ACT 2001 - SECT 597
Reassessment—concessions for home mortgages and first home mortgages
597 Reassessment—concessions for home mortgages and first home mortgages
(1) This section applies if—
(a) before 1 July 2008, mortgage duty on a home
mortgage was assessed on the basis of a concession under chapter 5, part 6;
and
(b) on or after 1 July 2008, one of the events mentioned in
section 291(1) happens.
(2) Section 291(2) to (4) applies to enable the
commissioner to make a reassessment to impose mortgage duty on the mortgage at
the rate applicable at the time that, but for the concession, the liability
for mortgage duty would have arisen.
