Duties Act 1999

This section applies if—

a person makes a relevant acquisition under section 86 (1) (a) by acquiring an interest in a landholder (the initial acquisition); and

the person or an associated person makes a relevant acquisition under section 86 (1) (b) because the person or an associated person acquires a further interest in the landholder (the further acquisition).

The amount of duty payable in relation to the further acquisition is—

if the initial acquisition is made within the relevant period for the further acquisition—the amount worked out in accordance with the following steps:

work out the dutiable amount for the initial acquisition under—

if the initial acquisition is an acquisition mentioned in section 86 (1) (a) (i)—section 90 (2) (a); or

if the initial acquisition is an acquisition mentioned in section 86 (1) (a) (ii) or (iii)—section 90A (2) (a) to (c);

In working out the dutiable amount under s 90A, the commissioner may decide not to include an interest of an associated person if satisfied that the associated person acquired their interest independently and for no common purpose (see s 90A (4)).

work out the amount as follows:

add together the amounts worked out under subparagraphs (i) and (ii);

multiply the amount worked out under subparagraph (iii) by the relevant rate;

subtract any duty paid or payable under this division in relation to the initial acquisition from the amount worked out under subparagraph (iv); or

if the initial acquisition is not made within the relevant period for the further acquisition—the amount worked out in accordance with the following steps:

work out the amount as follows:

multiply the amount worked out under subparagraph (i) by the relevant rate.

In this section:

Other provisions may apply in working out duty payable under this section (see div 3.2.4).