DUTIES ACT 2008 - SECT 204B
DUTIES ACT 2008 - SECT 204B
204B . When fixed infrastructure statutory licences are treated as land assets in calculating duty
(1) A fixed
infrastructure statutory licence is to be treated as if it were a land asset
for the purposes of calculating duty in respect of a relevant acquisition
under section 186 if —
(a) the
landholder, or a linked entity in respect of the landholder, is entitled to
the fixed infrastructure statutory licence; and
(b) the
landholder, or an entity that is associated with the landholder under
section 204D, is entitled to any of the following —
(i)
fixed infrastructure ( relevant fixed infrastructure ) to
which the fixed infrastructure statutory licence relates;
(ii)
an estate or interest in relevant fixed infrastructure;
(iii)
a fixed infrastructure control right that relates to
relevant fixed infrastructure.
(2) For the purposes
of subsection (1)(a), a landholder or linked entity is taken to be entitled to
the fixed infrastructure statutory licence if —
(a) the
landholder or linked entity held the fixed infrastructure statutory licence
immediately before the relevant acquisition; and
(b) as a
result of the relevant acquisition, the fixed infrastructure statutory licence
is cancelled or surrendered by operation of law; and
(c)
there is an agreement, arrangement or understanding relating to the
acquisition under which, after the acquisition, the fixed infrastructure
statutory licence, or another fixed infrastructure statutory licence of that
kind, will be issued, granted or given to the landholder or an entity that is
associated with the landholder under section 204D.
(3) The entitlement
referred to in subsection (1)(b) is to be determined —
(a) for
the landholder or an associated entity referred to in section 204D(2)(a), (b)
or (c) — when the relevant acquisition referred to in subsection (1) of
this section occurs; or
(b) for
an associated entity referred to in section 204D(2)(d) or (e) — when the
acquisition referred to in section 204D(2)(d)(i) occurs.
(4) A fixed
infrastructure statutory licence that under subsection (1) is to be treated as
a land asset for the purposes of section 186 in relation to an acquisition is
to be so treated even if subsection (1) does not become applicable until after
the acquisition occurs.
(5) A fixed
infrastructure statutory licence to which subsection (1) applies is also to be
treated as a land asset in relation to the relevant acquisition referred to in
that subsection for the purposes of sections 167, 168, 195A(5), 266B and 266C.
[Section 204B inserted: No. 12 of 2019 s. 100.]