Duties Act 1999

Duty under this chapter is not payable in relation to a chapter 3 transaction if—

a person is liable to pay duty under this chapter in relation to the transaction; and

the person applies to the commissioner for an exemption from duty under this division in relation to the transaction; and

the commissioner exempts the transaction from duty.

An application for exemption from duty must—

be in writing; and

be made not later than—

90 days after the day the chapter 3 transaction is made; or

if the commissioner approves, in writing, a longer period—the end of the longer period; and

state the exemption under this division that is being applied for; and

include any other information required by the commissioner.

A person may apply to extend the time by which an application for exemption from duty must be made (see Taxation Administration Act, s 40).

The commissioner must exempt a chapter 3 transaction from duty if the commissioner is satisfied an exemption under this division applies to the transaction.