Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 245J

245J Effect of ruling about concession

(1) This section applies if the commissioner has, on an application for a ruling under section 245I , decided that a relevant transaction will be assessed on the basis that the concession under section 245F will apply in relation to the transaction.

(2) The commissioner must, on an application under section 245H for a concession under section 245F , decide to assess the relevant transaction on the basis that the concession under section 245F applies in relation to the transaction.

(3) However, subsection (2) does not apply if—

(a) the information given with the application for the concession differs in a material particular from the information given with the application for the ruling; or

(b) the circumstances existing at the time the application for the concession is made are materially different from the circumstances existing at the time the application for the ruling was made; or

(c) the information given with the application for the ruling was false or misleading in a material particular; or

(d) both of the following apply—

(i) after the ruling is made but before the application for the concession is decided, a legislative change takes effect, a judgment of a court is given or a decision by QCAT is made;

(ii) the legislative change, judgment or decision would, if it had taken effect or been given or made before the ruling was made, have materially affected the ruling made by the commissioner.

(4) In this section—

"information" includes a document.