Victorian Current Acts Victorian Current Acts(1) No duty is chargeable under this Chapter on a dutiable transaction in relation to dutiable property referred to in section 10(1)(ad) if the unencumbered value of the fixtures to which the dutiable property relates does not exceed $2 000 000.
(2) If the unencumbered value of the fixtures to which dutiable property referred to in section 10(1)(ad) relates exceeds $2 000 000 but does not exceed $3 000 000, duty is chargeable on a dutiable transaction in relation to the dutiable property, subject to subsection (3), in accordance with the following formula—
where—
A is the unencumbered value of the fixtures to which dutiable property referred to in section 10(1)(ad) relates;
B is the duty that, apart from this subsection, would be chargeable on the dutiable transaction under this Chapter.
(3) This section does not apply if the dutiable transaction in relation to dutiable property referred to in section 10(1)(ad) is part of an arrangement that includes a dutiable transaction in relation to any estate or interest in the land on which the fixtures are located.
S. 57FB inserted by No. 17/2019 s. 8.