A foreign landholder acquisition will be exempt from foreign landholder duty where the landholder, a linked entity or associate of the landholder develops the lot to produce 10 or more dwellings, or lots on which 10 or more dwellings can be constructed. See information about foreign landholder duty.
Only use the form below if:
- a foreign landholder acquisition was assessed with duty based on the landholder, or a linked entity, holding residential property, which the landholder, linked entity or an associate intended to develop, and
- the landholder, linked entity or an associate of the landholder has commenced or completed on the residential property (as relevant):
- construction or refurbishment of 10 or more dwellings or
- subdivision of the property into 10 or more residential lots.
You must apply for reassessment of the foreign landholder duty within the later of:
- five years after the acquisition occurs or
- 12 months from the date the landholder, linked entity or associate commences or completes (as relevant) the construction, refurbishment or subdivision of the land.
To qualify for an exemption the construction, substantial refurbishment or subdivision of the land must commence or complete within five years of the acquisition, as described in the table below:
Nature of property at date of acquisition | Construction, refurbishment or subdivision | Commencement or completion is: |
|---|---|---|
Land
| Commence construction of 10 or more dwellings | when foundations for the first dwelling are laid |
| Commence subdivision of land into 10 or more lots capable of being a dwelling | when the first lot capable of constructing a dwelling is subdivided as defined by the Land Tax Assessment Act 2002 | |
| Commence refurbishment of 10 or more dwellings | when all licences, approvals, registrations, exemptions or authorisations necessary to refurbish the first dwelling are granted, issued or obtained | |
| Land where construction or substantial refurbishment of 10 or more dwellings has commenced | Complete construction or refurbishment of 10 or more dwellings | when the first dwelling is ready to be used as a place of residence |
| Land where subdivision has commenced | Complete subdivision of land into 10 or more lots capable of being a dwelling | when the certificate of title is issued for the first lot that is capable of a dwelling being constructed on |
If some of the residential property held by the landholder or linked entity qualifies for an exemption under this section, a partial exemption will apply.
