Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 245R

245R Notice of particular circumstances applying to land—concession under s 245G

(1) This section applies if—

(a) the concession is applied under section 245G ; and

(b) any of the circumstances mentioned in section 245N apply in relation to the land.

(2) Within 1 month after the circumstance starts to apply in relation to the land, the acquirer must—

(a) give the commissioner notice in the approved form of the application of the circumstance; and

(b) ensure the instruments required for the assessment of duty for the relevant transaction are lodged for a reassessment of duty on the transaction.

Note—

Under the Administration Act , the requirement under this section is a lodgement requirement for which a failure to comply is an offence under section 121 of that Act.