Duties Act 2001

This section applies if—

a person proposes—

to be a party to a transaction that would be a relevant transaction to which this part applies; and

to construct a build to rent development on the land on or before 30 June 2030 and use the land and the build to rent development in the way mentioned in section 245F(1)(c)(ii); and

the person has applied under the Land Tax Act 2010, section 58T for a ruling on whether, if the proposed development is carried out, the person’s liability for land tax for a financial year will be assessed on the basis that a concession under section 58B of that Act applies in relation to the land.

The person may apply to the commissioner for a ruling on whether, if the proposed development is carried out, the concession under section 245F will apply in relation to the relevant transaction.

The application must—

be in the approved form; and

be supported by enough information to enable the commissioner to make a ruling.

The commissioner must give the applicant notice of the commissioner’s ruling on the application.