Queensland Numbered Acts

REVENUE AND OTHER LEGISLATION AMENDMENT ACT (NO. 2) 2008 No. 75 - SECT 11

Section 93A(5) and (6)--

omit, insert--

'(5) The transfer duty imposed on the dutiable transaction is the amount worked out by deducting, from transfer duty on the dutiable value of the transaction, the lesser of the following amounts--

(a) the total amount worked out by, for each relevant transferee, applying the relevant transferee's interest to the concession amount stated in schedule 4B opposite the dutiable value of the vacant land;

(b) the total amount worked out by, for each relevant transferee, applying the relevant transferee's interest to transfer duty on the dutiable value of the vacant land.

'(6) For subsection (5), the relevant transferee's interest is the proportion that the share of the relevant transferee in the whole dutiable property bears to the total of the shares of--

(a) for a dutiable transaction to which this section applies under subsection (1)--all the transferees; or

(b) for a dutiable transaction to which this section applies under subsection (2)--all the co-owners, or the owner, on completion of the transaction.'.