156 How duty is charged on relevant acquisitions—public
(1) If an acquisition statement discloses a relevant acquisition in a
public landholder, the duty chargeable on the relevant acquisition is 10% of
the duty that would be chargeable, at the general rate, on a transfer of all
the land holdings and goods of the landholder in New South Wales (calculated
as if the transfer had occurred at the date of relevant
(2) For that purpose, the dutiable value of the land holdings and
goods is the unencumbered value of land holdings and goods at the date of the
(3) If an acquisition disclosed in an acquisition statement is an
exempt acquisition, the duty chargeable under this section is to be calculated
after deducting from the dutiable value of the land holdings and goods the
proportion of that value represented by the value of the interest acquired in
the exempt acquisition.
(4) If the public landholder is a widely held trust, the duty payable
under this section is also to be reduced by the following amounts (if
(a) the amount of duty under this Act paid or payable in respect of a
dutiable transaction in relation to the units concerned,
(b) the amount of any duty of a like nature so paid or payable under a
law of another Australian jurisdiction.
(5) If duty is chargeable in respect of a relevant acquisition made by
a person in a public landholder, no duty is chargeable in respect of any
further acquisition made by that person in that
(6) This section is subject to Part 3.