(1) This section applies if—
(a) a growth areas infrastructure contribution imposed in respect of a dutiable transaction relating to land is deferred in whole or in part under section 201SM; and
(b) a statement of compliance relating to a plan of subdivision of all or any part of that land is issued and the sole purpose of that plan is to provide for public purpose land.
(2) The time for payment under section 201SP(1)(a) or (2)(a) (as the case requires) does not apply in respect of the whole or part of the growth areas infrastructure contribution deferred under section 201SM.
(3) In addition—
(a) the proportion of the growth areas infrastructure contribution that is apportioned under section 201SOC to public purpose land (a PPL proportion ) must be paid within 3 months after the day on which the statement of compliance is issued; and
(b) the proportion of the growth areas infrastructure contribution that is apportioned under section 201SOC to any part of the land that is not public purpose land continues to be a deferred contribution (a deferred proportion ).
(4) For the purposes of subsection (3)—
(a) a reference in this Subdivision (other than section 201SM or 201SP) to a growth areas infrastructure contribution that is deferred in whole or in part under section 201SM includes a reference to a PPL proportion; and
(b) a reference in this Subdivision (other than section 201SM) to a growth areas infrastructure contribution that is deferred in whole or in part under section 201SM includes a reference to a deferred proportion.
ABC Pty Ltd purchases 15 hectares of land in the contribution area in June 2017. The dutiable transaction in relation to the land is the first GAIC event in relation to the land and a GAIC is imposed. ABC Pty Ltd is liable to pay the GAIC and elects under section 201SM to defer 100% of the amount payable. In December 2017, ABC Pty Ltd applies to subdivide the land for the sole purpose of providing 1·5 hectares of land for the construction of a road. On the issue of the statement of compliance relating to the plan of subdivision of land, the GAIC is apportioned between the two child lots based on the area of land each child lot bears to the parent lot. Accordingly, 10% of the GAIC is apportioned to the public purpose land (the PPL proportion ). This amount, as indexed under section 201SMA, and any accrued interest on this amount is payable within 3 months after the date of the issue of the statement of compliance. The remaining 90% is apportioned to the balance land (the deferred proportion ) and this amount continues to be deferred and subject to indexation and interest under section 201SMA until the amount becomes payable under this Subdivision.
S. 201SPA inserted by No. 23/2010 s. 9, amended by Nos 31/2011 s. 15, 66/2016 s. 17(1).