Acquisition statements
83 Acquisition statements
If a relevant acquisition is made, either or both the person who made the acquisition and the landholder (or, if the landholder is a unit trust scheme, the trustee of the landholder) must prepare a statement (an acquisition statement) and lodge it with the Commissioner within 30 days after the date of the relevant acquisition.
The acquisition statement is to be prepared in an approved form and must contain the following information—
the name and address of the person who has acquired the interest;
in relation to each interest acquired, the date on which it was acquired and whether it is an exempt acquisition within the meaning of section 89D;
if the relevant acquisition results from the aggregation of the interests of associated persons, particulars of all the interests acquired by the person and any associated persons;
if the relevant acquisition results from the aggregation of the interests of persons who acquired interests in associated transactions, particulars of the interests acquired by the person and all other persons involved;
particulars of the total interest acquired in the landholder by the person, any associated person or any other person in an associated transaction, as at the date of the relevant acquisition;
the unencumbered value of all land holdings in Victoria of the landholder as at the date of the relevant acquisition;
any other information the Commissioner may require.
Note
In ascertaining whether or not a liability to lodge a statement under this section exists, it is necessary to have regard to provisions of this Part that deal with—
• acquisitions generally (section 80); and
• acquisitions that are exempt from the operation of this Part (section 89D).
There is joint and several liability for the duty as between the person lodging the acquisition statement and others—see section 85.
S. 84 substituted by No. 38/2012 s. 5.
84 When must duty be paid?
A tax default does not occur for the purposes of the Taxation Administration Act 1997 if duty is paid within 30 days after the liability to pay the duty arises.
S. 85 substituted by No. 38/2012 s. 5.
85 Who is liable to pay the duty?
The following are jointly and severally liable to pay duty chargeable under this Part—
the person who makes the relevant acquisition; and
the landholder or, if the landholder is a unit trust scheme, the trustee of the landholder; and
if the relevant acquisition results from an aggregation of the interests of the person referred to in paragraph (a) and other persons—each of those other persons.
A person, other than a person referred to in subsection (1)(c), may recover as a debt from the person who made the relevant acquisition or a person referred to in subsection (1)(c) the amount of any duty chargeable under this Part and any penalty paid by the first person in respect of that duty.
S. 86 substituted by No. 38/2012 s. 5.
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