Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 39

39 Surrender of Queensland business asset so replacement asset may be granted

(1) This section applies if a Queensland business asset is surrendered by a person (the
"owner" ) so that a similar business asset may be granted, issued, given to or obtained by another person.

(2) For imposing transfer duty—

(a) the surrender is taken to be a transfer of the business asset by the owner to the other person when the similar business asset is granted, issued, given or obtained; and

(b) the owner and other person are the parties to the dutiable transaction that is the transfer of the business asset.