What is an arrangement?
250AB What is an arrangement?
In this Division (other than in section 250A(6)(c)), an arrangement means an arrangement consisting of two or more eligible transactions that do not involve any corporation or person other than—
members of the same corporate group or substantially the same corporate group; or
a head company to be interposed between the shareholders or unit holders of a corporation that is in—
the same corporate group or substantially the same corporate group; or
a corporate group that consists of members of the same corporate group or substantially the same corporate group, and any other company that was a head company interposed during a previous corporate consolidation; or
shareholders or unit holders of a corporation that is a member of the same corporate group or substantially the same corporate group.
S. 250B (Heading) amended by Nos 17/2019 s. 24(1), 47/2020 s. 18(1).
S. 250B inserted by No. 113/2003 s. 5.
250B Concession and exemptions for certain transactions arising out of corporate reconstructions, corporate consolidations and arrangements
S. 250B(1) substituted by No. 71/2004 s. 24(1), amended by No. 36/2005 s. 19(c), substituted by No. 17/2019 s. 24(2).
Subject to this section, the duty chargeable on an eligible transaction is 10% of the duty that would otherwise be chargeable under this Act on the eligible transaction.
S. 250B(2) substituted by Nos 17/2019 s. 24(2), 47/2020 s. 18(2).
No duty is chargeable under this Act on an eligible transaction to the extent that—
duty is chargeable on an earlier eligible transaction in relation to the same dutiable property; and
the eligible transaction and the earlier eligible transaction referred to in paragraph (a) form an arrangement or part of an arrangement; and
S. 250B(2)(c) amended by No. 38/2023 s. 12.
the eligible transaction occurs within the period of 30 days beginning on and including the day on which the first eligible transaction occurred in the arrangement.
S. 250B(3) substituted by No. 17/2019 s. 24(2).
For the purposes of subsection (2), if either or both of the eligible transactions referred to in that subsection is a relevant acquisition, a reference to dutiable property in relation to the relevant acquisition is a reference to the land holdings of the landholder in which the relevant acquisition is made.
S. 250B(3A) inserted by No. 17/2019 s. 24(2), substituted by No. 47/2020 s. 18(3).
No duty is chargeable under this Act on an eligible transaction that is an application for the registration or transfer of registration of a motor vehicle if—
duty is chargeable on an earlier eligible transaction that is an application for the registration or transfer of registration of the same motor vehicle; and
the eligible transaction and the earlier eligible transaction referred to in paragraph (a) form an arrangement or part of an arrangement; and
S. 250B(3A)(c) amended by No. 38/2023 s. 12.
the eligible transaction occurs within the period of 30 days beginning on and including the day on which the first eligible transaction occurred in the arrangement.
S. 250B(3B) inserted by No. 47/2020 s. 18(3).
If an arrangement continues for more than 30 days, subsections (2) and (3A) apply in relation to each 30 day period for which the arrangement continues as if the first eligible transaction that occurs in the arrangement after the end of each 30 day period were the first eligible transaction in the arrangement.
S. 250B(4) amended by Nos 36/2005 s. 19(c), 17/2019 s. 24(3)(a).
The Minister must, before 31 October in each year, cause to be laid before each House of the Parliament a report of concessions and exemptions under this Division in the preceding financial year, including—
S. 250B(4)(a) amended by Nos 71/2004 s. 24(2), 17/2019 s. 24(3)(b), 47/2020 s. 18(4).
the name of each member of a corporate group or consolidated group that has had the benefit of a concession or exemption; and
S. 250B(4)(b) amended by No. 17/2019 s. 24(3)(c).
the amount of duty that would have been chargeable but for the concession or exemption.
S. 250C inserted by No. 113/2003 s. 5, amended by No. 36/2005 s. 19(c), repealed by No. 17/2019 s. 25.
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S. 250D inserted by No. 113/2003 s. 5, amended by Nos 71/2004 s. 25, 36/2005 s. 19(c), 28/2011 s. 27, repealed by No. 17/2019 s. 25.
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Ch. 11 Pt 2 Div. 1A (Heading) amended by No. 17/2019 s. 21(3), repealed by No. 47/2020 s. 19.
Ch. 11 Pt 2 Div. 1A (Heading and ss 250DA–250DG) inserted by No. 36/2005 s. 20.
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Ss 250DA, 250DB inserted by No. 36/2005 s. 20, repealed by No. 47/2020 s. 20.
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S. 250DC inserted by No. 36/2005 s. 20, amended by Nos 38/2012 s. 8, 17/2019 s. 26, repealed by No. 47/2020 s. 20.
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S. 250DD inserted by No. 36/2005 s. 20, amended by No. 17/2019 s. 27, repealed by No.47x/2020 s. 20.
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Ss 250DE, 250DF inserted by No. 36/2005 s. 20, repealed by No. 17/2019 s. 28.
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S. 250DG inserted by No. 36/2005 s. 20, amended by No. 38/2012 s. 9, substituted by No. 47/2020 s. 21.
250DG Special provision in relation to landholder duty if there has been a corporate consolidation involving a private unit trust scheme
This section applies in relation to a landholder that is or has been a head company of a corporate group and that was interposed as the head company of the corporate group or substantially the same corporate group—
by a corporate consolidation that consisted of the interposition of a head company between a private unit trust scheme and the unitholders of the private unit trust scheme; or
as a head company that succeeded, directly or indirectly, the head company referred to in paragraph (a), by any further corporate consolidation that occurred after the corporate consolidation referred to in paragraph (a).
For the purposes of Part 2 of Chapter 3, in determining whether a person makes a relevant acquisition in the landholder—
the landholder must be taken to be a private unit trust scheme, being the same scheme as that existing immediately before the corporate consolidation referred to in subsection (1)(a); and
a shareholding in the landholder must be taken to be a unitholding in that private unit trust scheme; and
if an interest in the private unit trust scheme held at any time before the corporate consolidation referred to in subsection (1)(a) was or would be counted for the purposes of section 78, that interest is to continue to be counted for the purposes of that section after the corporate consolidation referred to in subsection (1)(a) or any further corporate consolidation referred to in subsection (1)(b) (as the case requires); and
if an interest in the private unit trust scheme held at any time before the corporate consolidation referred to in subsection (1)(a) was not or would not be counted for the purposes of section 78, that interest is to continue not to be counted for the purposes of that section after the corporate consolidation referred to in subsection (1)(a) or any further corporate consolidation referred to in subsection (1)(b) (as the case requires); and
without limiting paragraph (a), any acquisition of an interest in land by the private unit trust scheme before the corporate consolidation referred to in subsection (1)(a) is taken to have been an interest acquired by the landholder at the time it was acquired by the private unit trust scheme.
This section applies for a period of 3 years commencing at the time of the corporate consolidation referred to in subsection (1)(a).
Ch. 11 Pt 2 Div. 1B (Heading and ss 250DH–250DK) inserted by No. 31/2008 s. 12.
Division 1B—Exchange of stapled ownership interests for ownership interests in a unit trust scheme
S. 250DH inserted by No. 31/2008 s. 12.
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