sec.639Transfer duty—dutiable transactions not assessed before commencement day

### sec.639 Transfer duty—dutiable transactions not assessed before commencement day This section applies to a dutiable transaction for which liability for transfer duty arose during the retrospectivity period, if— but for this division, the dutiable value of the transaction would have been required to be assessed without having regard to an exploration authority; and because of this division, the dutiable value of the transaction is required to be assessed having regard to dutiable property that is an exploration authority; and before the commencement day, an assessment of a party’s liability for transfer duty on the dutiable transaction has not been made, or taken to have been made, by the commissioner. A reference in this subsection to a dutiable transaction includes a reference to a dutiable transaction that should have been assessed under section 30 together with 1 or more other dutiable transactions that, but for this division, would not have been dutiable transactions. Section 638(2) and (3) applies in relation to the dutiable transaction. However, to the extent unpaid primary tax relating to the dutiable transaction is attributable to dutiable property other than an exploration authority, section 638(2) and (3) does not affect— the start date for unpaid tax interest on the unpaid primary tax under the Administration Act , section 54 ; or a party’s liability for penalty tax. s 639 ins 2012 No. 25 s 6 (sec.639-ssec.1) This section applies to a dutiable transaction for which liability for transfer duty arose during the retrospectivity period, if— but for this division, the dutiable value of the transaction would have been required to be assessed without having regard to an exploration authority; and because of this division, the dutiable value of the transaction is required to be assessed having regard to dutiable property that is an exploration authority; and before the commencement day, an assessment of a party’s liability for transfer duty on the dutiable transaction has not been made, or taken to have been made, by the commissioner. A reference in this subsection to a dutiable transaction includes a reference to a dutiable transaction that should have been assessed under section 30 together with 1 or more other dutiable transactions that, but for this division, would not have been dutiable transactions. (sec.639-ssec.2) Section 638(2) and (3) applies in relation to the dutiable transaction. (sec.639-ssec.3) However, to the extent unpaid primary tax relating to the dutiable transaction is attributable to dutiable property other than an exploration authority, section 638(2) and (3) does not affect— the start date for unpaid tax interest on the unpaid primary tax under the Administration Act , section 54 ; or a party’s liability for penalty tax. - (a) but for this division, the dutiable value of the transaction would have been required to be assessed without having regard to an exploration authority; and - (b) because of this division, the dutiable value of the transaction is required to be assessed having regard to dutiable property that is an exploration authority; and - (c) before the commencement day, an assessment of a party’s liability for transfer duty on the dutiable transaction has not been made, or taken to have been made, by the commissioner. - (a) the start date for unpaid tax interest on the unpaid primary tax under the Administration Act , section 54 ; or - (b) a party’s liability for penalty tax.