Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 245A

245A AFAD for corporate trustee duty

(1) This section applies if, under part 3 , AFAD relating to corporate trustee duty is imposed on a relevant acquisition.

(2) AFAD is imposed at the rate of 8% on the dutiable value of a relevant acquisition—

(a) to the extent the dutiable property held on trust by the corporate trustee, or in which the corporate trustee has an indirect interest that is held on trust, is AFAD residential land; and

(b) to the extent of the foreign acquirer’s interest in the relevant acquisition.