Australian Capital Territory Numbered Acts

REVENUE LEGISLATION AMENDMENT ACT 2023 (NO. 6 OF 2023) - SECT 19

substitute

    (1)     For this part, a person makes a relevant acquisition if—

        (a)     the person acquires an interest in a landholder that—

              (i)     is of itself a significant interest in the landholder; or

              (ii)     when aggregated with other interests in the landholder held by the person or an associated person, results in an aggregation that amounts to a significant interest in the landholder; or

              (iii)     when aggregated with other interests in the landholder acquired by the person or other people in an associated transaction, results in an aggregation that amounts to a significant interest in the landholder; or

        (b)     the person or an associated person—

              (i)     has an interest in a landholder mentioned in paragraph (a); and

              (ii)     acquires a further interest in the landholder.

Example—relevant acquisition—par (a) (ii) and (b)

Jason and Tom are brothers. On 1 January 2021, Jason acquires a 20% interest in a landholder. On 1 October 2021, Tom acquires a 40% interest in the landholder. Tom makes a relevant acquisition under s 86 (1) (a) (ii) as, when aggregated with Jason's earlier interest, the total interest in the landholder is 60%.

On 1 June 2022, Jason acquires a further 20% interest in the landholder. Jason, as an associated person of Tom, makes a relevant acquisition under s 86 (1) (b).