Land rich provisions

The land rich provisions are contained in Chapter 4A of the Duties Act 1997.

The acquisition provisions, which were first introduced in 1986, charge duty on certain acquisitions of shares and units in companies and unit trust schemes (called landholders), at the same rate as for a transfer of realty. See general transfer rates.

Amendments to the acquisition legislation were made with effect from 14 November 2003.

The disposal provisions were introduced from 10 November 2004 and charge duty at the vendor duty rate. The disposal provisions (land rich vendor duty) ceased to apply to a disposal of an interest in a landholder from 2 August 2005.

• Duties Act 1997


• What is a landholder?


• When is a landholder land rich?


• Tracing


• When does a liability arise?


• Acquiring or disposing of an interest


• When to lodge an acquisition statement or disposal statement


• When must duty be paid?


• Who is liable to pay the duty?


• How duty is charged?


• Exemptions and concessions


• Description of terms used


• Registration of unit trust schemes


• Register of wholesale unit trust schemes


• Transitional provisions