35Abolition of duty on transfers of business assets

#### 35 Abolition of duty on transfers of business assets 35 Abolition of duty on transfers of business assets > > (1) On and from 1 July 2016, a business asset is not dutiable property (despite section 11). > > > (2) Subsection (1) does not apply in respect of any transfer or transaction with respect to business assets that occurs before 1 July 2016 and, accordingly, does not affect any requirement to pay duty under this Chapter in respect of the transfer or transaction. > > **s 35:** Rep 2000 No 44, Sch 2 \[14\]. Ins 2006 No 49, Sch 1 \[9\]. Am 2008 No 48, Sch 1 \[6\]; 2008 No 122, Sch 1.1 \[7\]; 2012 No 46, Sch 1.1 \[1\]; 2013 No 50, Sch 1 \[7\]–\[9\]. Subst 2014 No 37, Sch 1 \[4\].