Northern Territory Numbered Acts

REVENUE AND OTHER LEGISLATION AMENDMENT ACT 2010 (NO 21 OF 2010) - SECT 26

(1)     Schedule 1, item 1(9)

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    (9)     If a conveyance is a grant by the Territory of an estate in fee simple in land, or of a convertible Crown lease, for monetary consideration, the duty is calculated at the ad valorem rate:

    (a)     if paragraphs (b) and (c) do not apply – on the amount of the consideration; or

    (b)     if all of the consideration is unascertainable at the time of the grant – the unencumbered value of the land at that time; or

    (c)     if part of the consideration is unascertainable at the time of the grant – on the greater of the following:

        (i)     the amount of the consideration that is ascertainable at that time;

        (ii)     the unencumbered value of the land at that time.

(2)     Schedule 1, after item 2(2)

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    (3)     This item does not apply to Special Disability Trust as defined in the Social Security Act 1991 (Cth) or Veterans Entitlement Act 1986 (Cth).