24Aggregation of certain dutiable transactions

24 Aggregation of certain dutiable transactions S. 24(1) amended by No. 17/2019 s. 7(1). (1) Dutiable transactions relating to separate items of dutiable property referred to in section 10(1)(a), (ad) or (d) or section 10(1)(e) as it relates to dutiable property referred to in section 10(1)(a), (ad) or (d), or separate parts of such property are to be aggregated and treated as a single dutiable transaction if— S. 24(1)(a) substituted by No. 30/2002 s. 6(1)(a). (a) either— (i) in the case of dutiable transactions that are transfers on a sale of an item or part of dutiable property—the contracts of sale are entered into within 12 months; or (ii) in any other case—the dutiable transactions occur within 12 months; and S. 24(1)(b) repealed by No. 30/2002 s. 6(1)(b). (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 the dutiable property. Notes to s. 24(1) inserted by No. 17/2019 s. 7(2). **Notes** 1 See section 57FB for the calculation of duty on an aggregation of dutiable transactions in relation to an interest in fixtures referred to in section 10(1)(ad) and dutiable transactions in relation to land other than the land on which the fixtures are located. 2 See section 64C for the calculation of duty on an aggregation of dutiable transactions in relation to eligible transfers (within the meaning of section 64A) if duty on at least one of the transactions is subject to a reduction of duty under section 64B and at least one of the transactions is either not an eligible transfer or is an eligible transfer subject to a reduction in duty calculated on a different percentage. S. 24(1A) inserted by No. 17/2019 s. 7(3). (1A) Subsection (1)(a) does not apply in the case of an arrangement that comprises one or more dutiable transactions that relate to dutiable property referred to in section 10(1)(ad). S. 24(2) substituted by No. 42/2012 s. 3(1). (2) Dutiable transactions are not to be aggregated under this section if the Commissioner is satisfied that— (a) the items or parts of dutiable property to which the dutiable transactions relate are comprised of vacant land; and (b) the transferee is registered as a domestic builder under the **Building Act 1993** and is a builder within the meaning of the **Domestic Building Contracts Act 1995**; and (c) the transferee intends to construct residential premises on the vacant land for the purpose of selling that land to the public. S. 24(2A) inserted by No. 46/2001 s. 6. (2A) Dutiable transactions are not to be aggregated under this section if the Commissioner is satisfied that— (a) each item or part of dutiable property to which the arrangement referred to in subsection (1) relates is— S. 24(2A)(a)(i) amended by Nos 58/2003 s. 7, 88/2005 s. 117(Sch. 2 item 1.1). (i) an estate in land referred to in section 65, 66 or 67 of the **Land Tax Act 2005** (not being a partial interest in a parcel of land); or (ii) goods in Victoria held or used in connection with land referred to in subparagraph (i); or (iii) property referred to in section 10(1)(e) as it relates to property referred to in subparagraph (i) or (ii); and (b) following the series of dutiable transactions giving effect to or arising from the arrangement referred to in subsection (1), the land referred to in paragraph (a) will continue to be used for primary production. S. 24(2B) inserted by No. 46/2001 s. 6. (2B) A transferee of a dutiable transaction referred to in subsection (2A) must make a written declaration to the Commissioner, at or before the time at which an instrument or statement relating to the transaction is lodged for stamping— (a) disclosing details known to the transferee of all of the items or parts of the dutiable property included or to be included in the arrangement referred to in subsection (1); and (b) that following the series of dutiable transactions giving effect to or arising from the arrangement, the land will continue to be used for primary production. S. 24(2C) inserted by No. 46/2001 s. 6. (2C) A declaration required by subsection (2B) must be in the approved form. S. 24(3) substituted by No. 30/2002 s. 6(2). (3) The dutiable value of aggregated dutiable property is the sum of the dutiable values of the items or parts of the dutiable property as at— (a) in the case of a transfer on a sale of the item or part—the time the contract of sale was entered into; (b) in any other case—the time the dutiable transaction relating to the item or part occurred. (4) The amount of duty payable in accordance with this section is to be reduced by the amount of any ad valorem duty paid on a prior dutiable transaction that is, or prior dutiable transactions that are, aggregated in accordance with this section. (5) Duty may be apportioned to the instruments effecting or evidencing the dutiable transactions, or may be charged in accordance with section 17, as determined by the Commissioner. S. 24(6) amended by No. 28/2017 s. 38(1). (6) A transferee to whom this section applies must disclose to the 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 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 that dutiable property. s. 24(6) inserted by No. 13/2013 s. 56(2). S. 24(6A) inserted by No. 28/2017 s. 38(2). (6A) A person does not commit an offence against subsection (6) if the person has a reasonable excuse for a failure to disclose details in accordance with that subsection. S. 24(7) inserted by No. 42/2012 s. 3(2). (7) The Commissioner may treat land as vacant land for the purposes of this section if the Commissioner is satisfied that the land is substantially vacant apart from there being the remnant of any building, or any other object or structure, that the Commissioner is satisfied has been preserved because of its heritage significance. S. 24A inserted by No. 42/2012 s. 4.