64BReduction in duty in relation to eligible transfers

64B Reduction in duty in relation to eligible transfers (1) Subject to subsection (2), the duty chargeable under section 28(1) on an eligible transfer the contract, arrangement or agreement for which was entered into on a date referred to in column 2 of the following Table is to be reduced by the percentage set out in column 3 opposite that date. S. 64B(1) (Table) amended by No. 47/2020 s. 11(a)(b). | *Column 1*<br>*Item* | *Column 2*<br>*Date contract, arrangement or agreement for eligible transfer was entered into* | *Column 3*<br>*Percentage* | | 1 | On or after 1 July 2019 but before 1 July 2020 | 10% | | 2 | On or after 1 July 2020 but before 1 January 2021 | 20% | | 3 | On or after 1 January 2021 | 50% | S. 64B(2) inserted by No. 14/2020 s. 4(2), amended by No. 47/2020 s. 11(c). (2) The duty chargeable under section 28(1) on an eligible transfer in relation to land located wholly within a state of disaster area the contract, arrangement or agreement for which was entered into on or after 27 January 2020 but before 1 January 2021 is to be reduced by 50%. S. 64B(3) inserted by No. 14/2020 s. 4(2). (3) Subsection (2) is legislated emergency tax relief for the purposes of Part 9A of the **Taxation Administration Act 1997**. S. 64C inserted by No. 17/2019 s. 32.