245H
In forceApplication for concession
Chapter 4Additional foreign acquirer duty
Part 4AAConcessions for eligible BTR developments
Division 3Applications for concessions and rulings
245H Application for concession
(1)
An application for a concession under division 2 for AFAD on a relevant transaction must be made in the approved form.
(2)
The application must be made—
(a)
when the instrument that effects or evidences the relevant transaction is lodged for assessment; or
(b)
when the acquirer first applies under the Land Tax Act 2010, section 58S to have the acquirer’s liability for land tax for a financial year assessed on the basis that the land is land used for an eligible BTR development for the financial year.
This Act’s bill:Explanatory memorandum
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