Landholder transactions: duty requirements

For a relevant acquisition of an interest in an entity that is a landholder, or an application for determination of whether a landholder duty liability has arisen, provide:

1. a completed landholder acquisition statement (The form may be signed by a representative of the acquirer or the lodging party, e.g., accountant, solicitor, etc.)
2. a completed Foreign Landholder Declaration Form
3. a copy of the agreement for transfer, transfer or other documentation pursuant to which the acquisition has occurred
4. complete financial statements for the corporation or unit trust scheme and any linked entities for the three financial years up to the date of the acquisition
5. a profile of the corporate structure of the corporation or unit trust scheme and any linked entities, including the percentage of ownership between each entity
6. completed duties valuation form for all land (including mining tenements) held by the corporation or unit trust scheme and any linked entities immediately before the acquisition. Duties valuation forms are not required if a valuation is obtained from a qualified valuer which meets the criteria specified in Commissioner’s Practice TAA 23 ‘Circumstances when a Taxpayer will be Required to Provide a Written Valuation’
7. a copy of any internal or external valuation reports valuing the land (including mining tenements) and chattels in the three years prior to the date of the acquisition
8. a copy of any strategic business plans applicable to the corporation or unit trust scheme
9. if the corporation or unit trust scheme and any linked entities hold shares in listed corporations or trusts, attach a schedule showing the names of the listed entities, the number of shares or units held, and their value
10. a copy of the asset registers that detail the market value of assets held by the corporation or unit trust scheme and any linked entities at the date of the acquisition
11. a schedule of all chattels held by the corporation or unit trust scheme and any linked entities immediately before the acquisition, identifying their location and unencumbered value
12. if the corporation or unit trust scheme and any linked entities entered into any agreements to acquire or dispose of an interest in land that were uncompleted as at the date of the acquisition – copies of the agreements and advise whether they have since been completed
13. if the interest is being acquired in an entity that is a listed corporation or listed unit trust scheme – copies of:
    • the bidder’s statement
    • the target’s statement
    • the scheme booklet (if any)
    • the listed entity’s annual report for the three financial years prior to the date of the acquisition
14. if the interest is being acquired in an entity that holds mining tenements or derivative mining rights, the following additional information is required. If the requested information is not available due to the state of development of the tenements please advise accordingly.
    • relevant annual reports, resource reports or geological reports for the tenements
    • tenement maps and location maps showing surrounding mines and prospects
    • copies of all reports, including Form 5 Exploration Expenditure Reports, lodged with the Department of Mines, Industry Regulation and Safety within the three years prior to the acquisition
    • expiry of the tenements and advice as to whether they are renewable
    • production details for the tenements for the three years prior to the acquisition, including a list of the mineral reserves and ore resources for each mining project and exploration project stating inferred, indicated and measured resources, and probable and proved reserves as measured by the Joint Ore Reserves Committee
    • copies of all relevant agreements relating to or affecting the tenements (e.g. joint venture agreements, derivative mining right agreements, royalty agreements or assignment and assumption agreements)
    • copies of life of mine plans including electronic financial models and full assumptions
    • copies of scoping, pre-feasibility or feasibility study reports
    • if the landholder is a listed corporation or member of a public group, copies of all statements to the ASX Group that contain details of mineralisation and exploration results
15. if the interest is being acquired in an entity that holds rights to access or control fixed infrastructure, the following additional information is required:
    • copies of all relevant agreements relating to or affecting the fixed infrastructure control or access rights
    • list and description of all relevant fixed infrastructure that the fixed infrastructure control or access rights relate to
16. any other relevant information that may assist in the assessment of duty.

An assessment of duty will not be issued until all required information is provided.