s 626
In forceParticular interests taken to be excluded interests for s 179
Chapter 17Repeal, savings and transitional provisions
Part 15Transitional provisions for Community Ambulance Cover Levy Repeal and Revenue and Other Legislation Amendment Act 2011
Division 1Transitional provisions for Community Ambulance Cover Levy Repeal and Revenue and Other Legislation Amendment Act 2011
626 Particular interests taken to be excluded interests for s 179
(1)
This section applies if—
(a)
before 1 July 2011 a person acquired an interest in a corporation other than a land rich corporation as defined under this Act before that day; and
(b)
on or after 1 July 2011—
(i)
the corporation is or becomes a landholder; and
(ii)
the person makes a relevant acquisition in the corporation.
(2)
For working out the dutiable value of the relevant acquisition under section 179, the interest acquired before 1 July 2011 is taken to be an excluded interest.
(3)
Section 163(2) applies for working out when the interest was acquired.
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