64GLiability for duty if use requirement not complied with

64G Liability for duty if use requirement not complied with (1) If the use requirement for an eligible transfer is not complied with— (a) the eligible transfer is chargeable with duty at the rate set out in section 28(1) as if section 64B does not apply, subject to any exemption or concession other than in this Division; and (2) A liability for duty imposed because of subsection (1) on an eligible transfer arises when the use requirement for that transfer is not complied with. Section 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises. (3) A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made. Section 9(3)(c) of the **Taxation Administration Act 1997** allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law. S. 64H inserted by No. 17/2019 s. 32.