Refund of levy for cancelled transactions
42UA Refund of levy for cancelled transactions
This section applies to a dutiable transaction for which—
a Local Aboriginal Land Council is liable to pay the community development levy, and
an amount of community development levy has been paid to the New South Wales Aboriginal Land Council by the Chief Commissioner of State Revenue.
If the New South Wales Aboriginal Land Council is satisfied that the dutiable transaction has been cancelled, the New South Wales Aboriginal Land Council—
must refund to the Local Aboriginal Land Council the amount of community development levy paid by the Chief Commissioner of State Revenue to the New South Wales Aboriginal Land Council for the dutiable transaction, and
may recover from the New South Wales Aboriginal Land Council Community Fund the amount paid by the New South Wales Aboriginal Land Council to the Fund under section 42U(5) for the dutiable transaction.
In this section—
cancelled means rescinded, annulled or terminated without completion.
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