Australian Capital Territory Current Acts

DUTIES ACT 1999 - SECT 94

    (1)     This section applies if—

        (a)     a person acquires an interest in a landholder; and

        (b)     the person makes a relevant acquisition; and

        (c)     at the time the relevant acquisition was made, either—

              (i)     both of the following apply:

    (A)     the landholder was the vendor under an uncompleted agreement for the sale or conveyance of land;

    (B)     the commissioner is satisfied that the agreement is subsequently completed; or

              (ii)     both of the following apply:

    (A)     the landholder was the purchaser under an uncompleted agreement for the sale or conveyance of land;

    (B)     the commissioner is satisfied that the agreement is subsequently rescinded or terminated.

    (2)     The commissioner must assess or reassess the duty payable in relation to the relevant acquisition as though the land the subject of the agreement was not, at the time the acquisition was made, a landholding of the landholder.

    (3)     In this section:

"landholder" includes a linked body of the landholder.

"linked body"—see section 81 (5).