Duties Act 1999

This section applies if—

a person acquires an interest in a landholder that is a relevant acquisition (the previous acquisition); and

the person or an associated person acquires an interest in at least 1 other landholder that is also a relevant acquisition (the later acquisition); and

the later acquisition is made within 12 months of the previous acquisition; and

together, the relevant acquisitions form, provide evidence of, give effect to or arise from a single arrangement to gain effective ownership of a landholding (the combined acquisition).

The amount of duty payable in relation to the combined acquisition is the amount worked out in accordance with the following steps:

work out the amount for each of the relevant acquisitions under—

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

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

add together each of the amounts worked out under paragraph (a);

multiply the resulting amount worked out under paragraph (b) by the determined rate as in force on the day—

the later acquisition was made; or

if there are 2 or more later acquisitions—the last of the later acquisitions was made;

subtract any duty paid or payable under this division in relation to the relevant acquisitions from the amount worked out under paragraph (c).

In this section:

UVL, for a landholder, in relation to a relevant acquisition that is part of a combined acquisition, means the unencumbered value of all landholdings in the ACT of the landholder on the day—

the later acquisition is made; or

if there are 2 or more later acquisitions—the last of the later acquisitions is made.

Division 3.2.4 General and supplemental