DUTIES ACT 2000 - SECT 89A Reduction in marketable securities duty

DUTIES ACT 2000 - SECT 89A

Duty payable under this Part is to be reduced by an amount (if any) calculated in accordance with the following formula—

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 unencumbered value of all property of the landholder at that time; and

    C     is the sum of—

        (a)     the duty under this Act paid or payable at the rate applicable to transactions involving marketable securities, in respect of—

              (i)     a dutiable transaction in relation to the units or shares; or

              (ii)     a capital reduction or a rights alteration under Part 3 by which an interest in the landholder was acquired; or

              (iii)     an allotment under Part 4 by which an interest in the landholder was acquired; and

        (b)     any duty of a like nature paid or payable under a law of another Australian jurisdiction.

S. 89B (Heading) amended by No. 17/2019 s. 4(1).

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