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DUTIES ACT 2000 - SECT 89 Phasing-in of duty

DUTIES ACT 2000 - SECT 89

Phasing-in of duty

If the unencumbered value of land holdings in Victoria of a landholder exceeds $1 000 000 but does not exceed $2 000 000, the duty chargeable under this Part is to be calculated in accordance with the following formula—

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where—

    A     is the unencumbered value of the land holdings in Victoria of the landholder at the time the relevant acquisition was made; and

    B     is the duty that, apart from this section, would be chargeable under this Part.

S. 89A substituted by No. 38/2012 s. 5.