Duties Act 2001

In this part—foreign acquirer means an acquirer who is a foreign person.foreign acquirer’s interest, under a relevant transaction, means the proportion that the share of the foreign acquirer under the transaction bears to the total of the shares of all acquirers under the transaction.

Example—Under a relevant transaction that is a relevant acquisition on which landholder duty is imposed, person A (a foreign acquirer) and person B (not a foreign acquirer) each acquire a 45% interest in a public landholder. The proportion of person A’s share under the transaction is 50% (a 45% interest of a total interest of 90% acquired under the transaction). Person A’s foreign acquirer’s interest is therefore 50%.