Duties Act 2000

The amount of duty payable on a transfer of relevant land to a person who, before the transfer, held an economic entitlement in relation to the relevant land is to be reduced by the amount of duty the person paid under this Part in respect of the acquisition of the relevant entitlement to the extent that, after the transfer, the beneficial ownership of the relevant land represented by the economic entitlement is held as a result of the transfer rather than under the arrangement giving rise to the economic entitlement.

Part 5—Exemptions and concessional rates of duty

Division 1—Trusts

S. 32XJ inserted by No. 18/2023 s. 6.