The Victorian State Revenue Office (SRO) has issued for comment Draft Revenue Ruling Draft-DA-026v2 (Aggregation of dutiable transactions and the exception from aggregation for domestic builders where residential premises are to be constructed). The Draft Ruling proposes to clarify how the Commissioner will apply the aggregation provisions in s 24 of the Duties Act 2000 (Vic) – in particular: the circumstances in which 2 or more dutiable transactions will be considered to form “substantially one arrangement”; the exception from aggregation for domestic builders in some circumstances; and re-assessment of duty where the domestic builder exception is applied and residential premises are not constructed. Comments are due by 16 August 2013.
[LTN 143, 26/7/13]