Charging duty
Landholder duty
From 1 July 2009, landholder duty replaces the land rich provisions.
How duty is calculated on relevant acquisitions
If an acquisition statement does not disclose any acquisitions during the 3 years preceding the relevant acquisition, duty is chargeable (at the rate applicable to a transfer of land) on the amount calculated by multiplying the unencumbered value of all land holdings of the landholder in NSW (calculated at the date of acquisition of the interest acquired) by the relevant acquisition.
If an acquisition statement discloses one or more acquisitions during the 3 years preceding the relevant acquisition, duty is chargeable, on the aggregate of amounts severally calculated, in respect of each interest required to be disclosed in the statement.
Note: On and from 20 June 2006 there is no requirement for valuations to be lodged in respect of exempt acquisitions as required by section 163H of the Duties Act 1997.
