Duties Act 2001

This section applies if, under part 3, AFAD relating to landholder duty is imposed on a relevant acquisition.

AFAD is imposed on a relevant acquisition made in a private landholder at the rate of 8% on the dutiable value of the acquisition—

to the extent the dutiable value relates to land-holdings of the landholder that are AFAD residential land; and

to the extent of the foreign acquirer’s interest in the relevant acquisition.

AFAD is imposed on a relevant acquisition made in a public landholder, to the extent of the foreign acquirer’s interest in the relevant acquisition, in the amount calculated in the way landholder duty is calculated under section 179A but with the changes stated in subsection (4).

For subsection (3), in relation to the calculation of transfer duty as mentioned in section 179A—

the dutiable transaction mentioned in that section is treated as being limited to the transfer of the AFAD residential land; and

the amount of transfer duty that would be imposed on the transaction as mentioned in that section is calculated at the rate of 8%.