Duties Act 2000

This section applies if—

an estate or interest in land referred to in section 10(1)(a) is transferred to a person (the land transferee) under a contract of sale of land; and

business goods relating to that land are sold to another person (the goods transferee) under a contract of sale of goods, or a contract of sale of a business; and

the land transferee and the goods transferee are not associated persons; and

the Commissioner is satisfied that the contract of sale referred to in paragraph (a) and the contract of sale referred to in paragraph (b) are not substantially one transaction; and

at least one of the contracts of sale referred to in paragraph (a) and (b) is conditional on the other.

If this section applies—

in determining the unencumbered value of the land transferred to the land transferee, the value of the business goods is to be disregarded;

nothing in section 24 applies to the transfer.

However, if at any subsequent time the business goods or any of them are transferred to the land transferee or to an associated person of the land transferee, the value of the business goods transferred is deemed to have formed part of the value of the land and duty payable under this Part is to be assessed or reassessed on that basis.

Any duty payable because of the operation of subsection (3) is payable within 30 days after the date on which the business goods were transferred to the land transferee.

Subsection (3) does not apply if the Commissioner is satisfied that—

the land transferee acquired the business goods at least 3 years after acquiring the land; and

the acquisition of the business goods by the land transferee at a subsequent time was not contemplated at the time of the contract of sale of the land.

In this section—