Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 247A

247A Abolition of mortgage duty from 1 July 2008

(1) Despite anything to the contrary in this chapter, mortgage duty is not imposed—

(a) on a mortgage first signed, or that first affects property in the State, on or after 1 July 2008; or

(b) in relation to an advance or further advance made on or after 1 July 2008, under a mortgage first signed, or that first affects property in the State, before 1 July 2008; or

(c) on an instrument that, on the deposit of instruments of title to property in Queensland, first becomes a mortgage or evidences the terms of a mortgage on or after 1 July 2008.

(2) This section is subject to chapter 17 , part 9 , division 1 .