25Aggregation of dutiable transactions

#### 25 Aggregation of dutiable transactions 25 Aggregation of dutiable transactions > > (1) Dutiable transactions relating to separate items of dutiable property, or separate parts of, or interests in, dutiable property are to be aggregated and treated as a single dutiable transaction if— > > > > > (a) (Repealed) > > > > > (ab) the transferor is the same or the transferors are associated persons, and > > > > > (b) the transferee is the same or the transferees are associated persons, and > > > > > (c) the dutiable transactions together form, evidence, give effect to or arise from what is, substantially, one arrangement relating to all of the items or parts of, or interests in, the dutiable property. > > > > Note. > > > > Associated person is defined in the Dictionary. > > > (2) Dutiable transactions are not to be aggregated under this section if the Chief Commissioner is satisfied that— > > > > > (a) the dutiable property to which the transactions relate are comprised of separate allotments of vacant land, and > > > > > (b) the transferee is a person authorised to contract to do residential building work under the [Home Building Act 1989](/view/html/inforce/current/act-1989-147), and > > > > > (c) the transferee intends to construct residential premises on the allotments for the purposes of sale to the public. > > > (3) The dutiable value of aggregated dutiable property is the sum of the dutiable values of the items or parts of, or the interests in, the dutiable property as at the time at which each dutiable transaction occurs. > > > (4) The amount of duty payable in accordance with this section is to be reduced by the amount of any ad valorem duty under this Chapter paid on a prior dutiable transaction that is, or prior dutiable transactions that are, aggregated in accordance with this section. > > > (4A) The amount of duty payable on dutiable transactions aggregated in accordance with this section is to be calculated at the rate applicable under this Chapter at the time at which the earliest of the aggregated dutiable transactions occur. > > > (5) Duty may be apportioned to the instruments effecting or evidencing the dutiable transactions, or may be charged in accordance with section 18 (1), as determined by the Chief Commissioner. > > > (6) A transferee to whom this section applies must disclose to the Chief Commissioner, in writing, at or before the time at which an instrument or statement relating to the dutiable transactions is lodged for stamping, details known to the transferee of— > > > > > (a) all of the items or parts of, or interests in, the dutiable property included or to be included in the arrangement referred to in subsection (1), and > > > > > (b) the consideration for each item or part of, or interest in, that dutiable property. > > > > Maximum penalty (subsection (6)): 100 penalty units. > > > > Note. > > > > An offence against subsection (6) committed by a corporation is an executive liability offence attracting executive liability for a director or other person involved in the management of the corporation—see section 121 of the [Taxation Administration Act 1996](/view/html/inforce/current/act-1996-097). > > > (7) The reference in this section to dutiable property does not include a reference to marketable securities. > > > (8) In this section— > > > > vacant land includes land that the Chief Commissioner considers is substantially vacant apart from there being on that land the remnant of any building, or any other object or structure, that the Chief Commissioner is satisfied has been preserved because of its heritage significance. > > **s 25:** Am 2006 No 87, Sch 1 \[1\]–\[3\]; 2012 No 97, Sch 1.9 \[1\]; 2016 No 32, Sch 1 \[6\]; 2019 No 8, Sch 1 \[1\]; 2023 No 18, Sch 1\[3\].