s 592
In forceMortgage packages
Chapter 17Repeal, savings and transitional provisions
Part 9Transitional provisions for the Revenue and Other Legislation Amendment Act 2008, part 2, division 2
Division 1Transitional provisions for abolition of mortgage duty
592 Mortgage packages
(1)
Subsection (2) applies if—
(a)
a mortgage package consists of 2 or more security instruments signed before 1 July 2008; and
(b)
the commissioner is satisfied that a mortgage signed on or after 1 July 2008 was intended to be part of the package.
(2)
Mortgage duty must be assessed on the mortgage package—
(a)
under previous chapter 5; and
(b)
as if the instruments comprising the package were 1 mortgage first signed on the day the last of the instruments signed before 1 July 2008 was signed.
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