Land rich provisions
From 1 July 2009, landholder duty replaces the land rich provisions.
The acquisition provisions, which were first introduced in 1986, charge duty on certain acquisitions of shares and units in companies and unit trust schemes (called landholders), at the same rate as for a transfer of realty. See general transfer rates.
- Duties Act 1997
- What is a landholder?
- When is a landholder land rich?
- When does a liability arise?
- Acquiring an interest
- When to lodge an acquisition statement
- When must duty be paid?
- Who is liable to pay the duty?
- How duty is charged?
- Exemptions and concessions
- Registration of unit trust schemes
- Register of wholesale unit trust schemes
- Transitional provisions
The disposal provisions were introduced from 10 November 2004 and charge duty at the vendor duty rate. The disposal provisions (land rich vendor duty) ceased to apply to a disposal of an interest in a landholder from 2 August 2005.
OSRAssist takes you through a series of questions and gives you an indication of whether or not you need to pay duty or are entitled to an exemption