Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 411

411 Application for exemption for dutiable transaction or relevant acquisition

(1) The parties to a dutiable transaction or acquirer under a relevant acquisition may apply to the commissioner for an exemption from duty under division 3 .

(2) The application must—

(a) be in the approved form; and

(b) be supported by enough information to enable the commissioner to make an assessment.

(3) On the application, the commissioner must make an assessment of nil duty for the dutiable transaction or relevant acquisition if—

(a) the commissioner is satisfied the transaction or acquisition is exempt from duty under division 3 ; or

(b) the commissioner has, on an application for a ruling, decided the transaction or acquisition would be exempt from duty under division 3 .

(4) However, subsection (3) (b) does not apply if—

(a) the instruments submitted with the application for exemption differ in a material particular to drafts of instruments lodged with the application for the ruling; or

(b) the circumstances existing in relation to the transaction or acquisition at the time of the application for exemption are materially different from the circumstances existing at the time of the application for the ruling; or

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

(d) each of the following applies—

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

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