(1) Despite
section 3A(1)(f) and (g), a thing fixed to land, or an estate or interest in
such a thing, is taken not to be land in relation to a particular transaction
if —
(a) the
transaction is the transfer, or an agreement for the transfer, of the thing or
the estate or interest in the thing; and
(b) none
of the following are transferred as part of the transaction or another
transaction that is aggregated with the transaction under section 37 —
(i)
the land, or an estate or interest in the land, to which
the thing is fixed;
(ii)
if the land to which the thing is fixed is land the
subject of a mining tenement — the mining tenement, or an estate or
interest in the mining tenement;
and
(c)
there is an agreement, arrangement or understanding relating to the
transaction under which the thing is to be permanently removed from the land.
(2) Subsection (1)
applies whether or not the thing constitutes a fixture at law.
(3) If subsection (1)
applies to a thing fixed to land, or an estate or interest in such a thing,
the thing is taken to be a chattel for the purposes of this Act.
(4) Subsection (1)
ceases to apply to a thing fixed to land, or an estate or interest in such a
thing, if the thing is not permanently removed from the land within —
(a) the
period of 90 days after the day on which the transfer referred to in
subsection (1)(a) occurs; or
(b) any
longer period allowed, on application within the period referred to in
paragraph (a), by the Commissioner on any conditions the Commissioner thinks
fit.
(5) If a failure to
remove a thing as referred to in subsection (4) occurs, the transferee must
lodge a notice of the failure in the approved form within 2 months after the
last day of the period that applies under subsection (4)(a) or (b).
Penalty for this
subsection: a fine of $20 000.
(6) Subject to the
Taxation Administration Act section 17, the Commissioner must make any
reassessment necessary as a result of the operation of subsection (4).
[Section 18A inserted: No. 12 of 2019 s. 13.]