Conversion of land use entitlements to different form of title
50A Conversion of land use entitlements to different form of title
No duty is chargeable under this Chapter in respect of the transfer of an estate in fee simple in a lot on a registered plan of subdivision within the meaning of the Subdivision Act 1988 if—
the transferee, immediately before registration of the plan, held a land use entitlement in respect of the land or part of the land the subject of the plan; and
the transfer is part of an arrangement under which the transferee will take an interest in the lot similar in effect to, and in substitution for, the interest the transferee held under the land use entitlement immediately before the registration of the plan; and
either of the following applies—
ad valorem duty was paid at the time the land use entitlement was acquired by the transferee; or
no duty was chargeable on the acquisition of the land use entitlement because of section 34, 36, 42 or 44.
Division 4—Exemptions and concessions in relation to land
S. 50B inserted by No. 39/2009 s. 12.
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