The amount of duty payable on a transfer of relevant land to a person who,
before the transfer, held an economic entitlement in relation to the relevant
land is to be reduced by the amount of duty the person paid under this Part in
respect of the acquisition of the relevant entitlement to the extent that,
after the transfer, the beneficial ownership of the relevant land represented
by the economic entitlement is held as a result of the transfer rather than
under the arrangement giving rise to the economic entitlement.
Part 5—Exemptions and concessional rates of duty
Division 1—Trusts
S. 32XJ inserted by No. 18/2023 s. 6.