The Victorian State Revenue Office (SRO) has issued Revenue Ruling DA.026 (version 2) (Aggregation of dutiable transactions and the exception from aggregation for domestic builders where residential premises are to be constructed).

The SRO says the Ruling has been updated to reflect the amendments made by the State Taxation Acts Amendment Act 2012 (Vic) to the aggregation provisions of the Duties Act 2000 (Vic). These amendments removed the discretion of the Commissioner of State Revenue (Vic) not to aggregate and replaced it with a specific exemption for transactions involving vacant land purchased by domestic builders. The SRO says that, as a result of the amendments, the Ruling now provides a more detailed explanation of how the Commissioner will apply the aggregation provisions in s 24 of the Duties Act 2000 (Vic).

[LTN 10, 16/1/14]