The Qld Office of State Revenue (OSR) has issued the following new Public Rulings:
- DA505.2.1 (Dutiable value of transfers of land to local governments) – sets out the Commissioner’s practice in relation to the evidence he may rely upon to establish the dutiable value of land transferred to local governments in particular situations. Similar matters were previously covered in superseded Practice Direction DA27.1.
- DA123.1.1 (Transfer duty – satisfaction of s 123 where no duty imposed under s 66(2)) – sets out the Commissioner’s practice in applying ss 123(2)(b) and 123(3) of the Duties Act 2001 (Qld), in particular where no duty has been imposed by operation of s 66(2) of the Duties Act. It also covers a number of matters previously addressed in superseded Practice Direction DA52.1.
The Rulings took effect on 21 November 2013.
[LTN 230, 27/11/13]