Duties Act 2001

This section applies to an assessment for mortgage duty on a mortgage given to secure an advance made—

to an exempt institution on the basis of an exemption under chapter 10, part 2, division 1; and

before 1 July 2008.

Note—From 30 June 2010, the registration of charitable institutions is provided for under the Administration Act, part 11A. See the Administration Act, section 168 in relation to institutions that were, immediately before 30 June 2010, exempt institutions.

On and after 1 July 2008, previous sections 417 and 419 continue to apply in relation to the advance.

For subsection (2), a reassessment made as required under previous section 419(3) imposing duty in relation to the advance must be made as if the Revenue and Other Legislation Amendment Act 2008, part 2 had not commenced.

If mortgage duty was imposed in relation to the advance because the use requirements under chapter 10, part 2, division 2 would not be complied with, previous section 418 continues to apply in relation to the advance.