sec.246AHReassessment of AFAD exemption for not occupying residence

### sec.246AH Reassessment of AFAD exemption for not occupying residence This section applies if— the AFAD exemption applies to the extent of a relevant acquirer’s interest in dutiable property that is AFAD residential land under a relevant transaction; and the relevant acquirer— disposes of the acquirer’s interest in the property before occupying a residence on the land; or does not occupy a residence on the land within the relevant period for the residence. Subject to section 246AJ , the commissioner must make a reassessment to impose AFAD on the relevant transaction to the extent of the relevant acquirer’s interest in dutiable property under the transaction as if the AFAD exemption did not apply to the relevant acquirer. s 246AH ins 2022 No. 14 s 13 (sec.246AH-ssec.1) This section applies if— the AFAD exemption applies to the extent of a relevant acquirer’s interest in dutiable property that is AFAD residential land under a relevant transaction; and the relevant acquirer— disposes of the acquirer’s interest in the property before occupying a residence on the land; or does not occupy a residence on the land within the relevant period for the residence. (sec.246AH-ssec.2) Subject to section 246AJ , the commissioner must make a reassessment to impose AFAD on the relevant transaction to the extent of the relevant acquirer’s interest in dutiable property under the transaction as if the AFAD exemption did not apply to the relevant acquirer. - (a) the AFAD exemption applies to the extent of a relevant acquirer’s interest in dutiable property that is AFAD residential land under a relevant transaction; and - (b) the relevant acquirer— (i) disposes of the acquirer’s interest in the property before occupying a residence on the land; or (ii) does not occupy a residence on the land within the relevant period for the residence. - (i) disposes of the acquirer’s interest in the property before occupying a residence on the land; or - (ii) does not occupy a residence on the land within the relevant period for the residence. - (i) disposes of the acquirer’s interest in the property before occupying a residence on the land; or - (ii) does not occupy a residence on the land within the relevant period for the residence.