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DUTIES ACT 1997 - SECT 273B
Reduction in duty for corporate reconstruction and corporate consolidation transactions
(1) This section applies to a transaction if the Chief Commissioner is
satisfied, on application by a party to the transaction, that-- (a) the
transaction is a corporate reconstruction transaction, and
(b) the
transaction, or the series of transactions of which the transaction is a part,
is undertaken for the purpose of either or both of the following-- (i)
changing the structure of a corporate group,
(ii) changing the holding of
assets within a corporate group, and
(c) the transaction, or the series of
transactions of which the transaction is a part-- (i) is not undertaken for a
purpose of avoiding or reducing duty under this Act on another transaction,
and
(ii) is not undertaken for the sole or dominant purpose of avoiding or
reducing a liability for tax, other than duty under this Act, under a law of
an Australian jurisdiction.
(2) This section applies to a transaction if the
Chief Commissioner is satisfied, on application by a party to the transaction,
that the transaction is a corporate consolidation transaction.
(3) If this
section applies to a transaction, the duty chargeable on the transaction is
10% of the duty that would be chargeable on the transaction if this section
did not apply.
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