DUTIES ACT 2001 - SECT 82 Deduction—transfer duty for majority trust acquisition

DUTIES ACT 2001 - SECT 82

82 Deduction—transfer duty for majority trust acquisition

(1) This section applies if—

(a) transfer duty has been paid or is payable on a dutiable transaction that is a majority trust acquisition; and

(b) transfer duty or landholder duty is imposed or has been paid on indirect trust acquisitions and trust acquisitions relating to the majority trust acquisition.

(2) The duty mentioned in subsection (1) (b) must be reduced by the amount of the transfer duty paid or payable under subsection (1) (a) to the extent that the indirect trust interests and trust interests were included in working out the dutiable value of the majority trust acquisition.