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DUTIES ACT 2000 - SECT 32N

Exemptions and concessions

S. 32N(1) amended by No. 28/2017 s. 29.

    (1)     Duty is not chargeable under section 32J(1)(a) if the sale contract would be exempt from duty under a specified Chapter 2 exemption if it were a transfer of dutiable property to the first purchaser.

    (2)     If the first purchaser would be entitled to a concession under this Chapter if the sale contract were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32J(1)(a).

S. 32N(3) amended by Nos 84/2008 s. 5(8), 28/2017 s. 29.

    (3)     Duty is not chargeable under section 32J(1)(b) or (c) if the subsequent transaction would be exempt from duty under a specified Chapter 2 exemption if it were a transfer of dutiable property to the subsequent purchaser who obtains the transfer right under the subsequent transaction.

S. 32N(4) amended by No. 84/2008 s. 5(8).

    (4)     If a subsequent purchaser would be entitled to a concession under this Chapter if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that concession in respect of duty charged under section 32J(1)(b) or (c).

S. 32N(5) inserted by No. 38/2023 s. 5.

    (5)     If the first purchaser would be entitled to a concession under Part 2 of Chapter 11 if the sale contract were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32J(1)(a).

S. 32N(6) inserted by No. 38/2023 s. 5.

    (6)     Subject to subsection (7), a subsequent purchaser is entitled to a concession under Part 2 of Chapter 11 in respect of duty charged under section 32J(1)(b) or (c) if—

        (a)     the subsequent purchaser would be entitled to a concession under Part 2 of Chapter 11 if the subsequent transaction were a transfer to the subsequent purchaser; and

        (b)     the subsequent purchaser obtained the transfer right from—

              (i)     a first purchaser who is liable to pay the amount of duty charged under section 32J(1)(a); or

              (ii)     another subsequent purchaser who is liable to pay the amount of duty charged under section 32J(1)(c).

S. 32N(7) inserted by No. 38/2023 s. 5.

    (7)     If a subsequent purchaser would be entitled to an exemption under section 250B(2) if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that exemption in respect of duty charged under section 32J(1)(b) or (c).

S. 32O inserted by No. 36/2005 s. 10, repealed by No. 84/2008 s. 5(9).

    *     *     *     *     *

Ch. 2 Pt 4A Div. 3A (Heading and ss 32O - 32OE) inserted by No. 28/2017 s. 30.

Division 3A—Transfers resulting from options involving additional consideration

New s. 32O inserted by No. 28/2017 s. 30.



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