Duties Act 1997

This section applies to a transaction if the Chief Commissioner is satisfied, on application by a party to the transaction, that—

the transaction is a corporate reconstruction transaction, and

the transaction, or the series of transactions of which the transaction is a part, is undertaken for the purpose of either or both of the following—

changing the structure of a corporate group,

changing the holding of assets within a corporate group, and

the transaction, or the series of transactions of which the transaction is a part—

is not undertaken for a purpose of avoiding or reducing duty under this Act on another transaction, and

is not undertaken for the sole or dominant purpose of avoiding or reducing a liability for tax, other than duty under this Act, under a law of an Australian jurisdiction.

This section applies to a transaction if the Chief Commissioner is satisfied, on application by a party to the transaction, that the transaction is a corporate consolidation transaction.

If this section applies to a transaction, the duty chargeable on the transaction is 10% of the duty that would be chargeable on the transaction if this section did not apply.