Duties Act 2001

This section applies if the relevant acquisition is the issue of shares or units by a landholder to a person in the following circumstances—

the shares or units are issued to the person in consideration of a transfer of land to the landholder by the person;

transfer duty is paid for the transfer;

the land is not the only land of the landholder;

the person is not the only shareholder or unit holder of the landholder.

In working out the unencumbered value of the Queensland land-holdings of the landholder, the value of the land must be disregarded.