105
In forceHow transfer duty is assessed on dutiable transaction—primary production business
Chapter 2Transfer duty
Part 10Concessions for dutiable transactions for particular family businesses
Division 2Concessions for transfer duty for dutiable transactions
105 How transfer duty is assessed on dutiable transaction—primary production business
(1)
This section applies for assessing transfer duty on a dutiable transaction to which this part applies if business property to which the transaction relates is used to carry on a primary production business.
(2)
The dutiable value of the business property is taken to be nil.
(3)
In addition, if the dutiable property the subject of the dutiable transaction includes residential land adjacent to land used to carry on the business, the dutiable value of the residential land is taken to be nil.
This Act’s bill:Explanatory memorandum
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