Australian Capital Territory Numbered Acts

REVENUE LEGISLATION (HOUSING AFFORDABILITY INITIATIVES) AMENDMENT ACT 2007 (NO. 29 OF 2007) - SECT 9

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73A     Transfers etc to entities for community housing

    (1)     No duty is chargeable under this chapter on a dutiable transaction that is a transfer or grant of a residential lease if—

        (a)     the transfer or grant is to an entity declared by the Minister; and

        (b)     the commissioner is satisfied that the property the subject of the transfer or grant is to be used for community housing.

    (2)     A declaration is a disallowable instrument.

Note     A disallowable instrument must be notified, and presented to the Legislative Assembly, under the Legislation Act.

    (3)     The Minister may declare an entity only if satisfied that the entity is a provider of community housing in the ACT.

    (4)     In this section:

"community housing" means housing provided for—

        (a)     people on low and moderate incomes or with special needs; or

(b)     nonprofit community organisations.

"residential lease" means a lease granted for residential purposes only.