Duty payable under this Part is to be reduced by an amount (if any) calculated in accordance with the following formula—
where—
A is the unencumbered value of the land holdings in Victoria of the landholder at the time the relevant acquisition was made; and
B is the unencumbered value of all property of the landholder at that time; and
C is the sum of—
(a) the duty under this Act paid or payable at the rate applicable to transactions involving marketable securities, in respect of—
(i) a dutiable transaction in relation to the units or shares; or
(ii) a capital reduction or a rights alteration under Part 3 by which an interest in the landholder was acquired; or
(iii) an allotment under Part 4 by which an interest in the landholder was acquired; and
(b) any duty of a like nature paid or payable under a law of another Australian jurisdiction.
S. 89B (Heading) amended by No. 17/2019 s. 4(1).
S. 89B substituted by No. 38/2012 s. 5.