The Duties Act 1999 (external site) requires certain dutiable transactions to be aggregated for the purpose of calculating conveyance duty, even if the transactions relate to separate dutiable properties. When transactions are aggregated, conveyance duty is calculated on the total value of the properties added together, instead of assessing each transaction separately.
Aggregation ensures duty is correctly assessed on large transactions spread over multiple instruments or transactions.
Transactions relating to separate items of dutiable property must be aggregated if they:
- occur within 12 months of each other;
- have the same transferees (buyers), or have transferees who are associated people; and
- form, evidence, give effect to, or arise from what is substantially one arrangement relating to all of the dutiable property.
Dutiable transactions that can satisfy one of the below exceptions will not be aggregated.
- transactions for the purpose of acquiring 2 or more blocks of land in the same subdivision for the purpose of developing the blocks for resale;
- transactions for the purpose of purchasing 2 or more units in the same units plan under the Unit Titles Act 2001 (external site) for the purpose of investment; or
- transactions for the purpose of acquiring 2 or more parcels of shares in a company or 2 or more parcels of units in a units trust scheme which parcels either alone or together with a lease or licence give an entitlement to occupy 2 or more areas that are on a single parcel of land.
If your transaction satisfies one of these provisions, you need to record the relevant exemption code on the transfer instrument (see codes and supporting documents webpage ) and complete the accompanying Annexure - form 029 (external site), which must list each property separately, and each property’s market value or consideration, whichever is greater.
Transactions are also not to be aggregated if the Commissioner for ACT Revenue is satisfied that it would not be just and reasonable to do so. If you wish to apply for your transactions not to be aggregated in accordance with section 24(2)(d) of the Duties Act 1999, you should also lodge a written statement detailing reasons why it would not be just and reasonable to aggregate the transactions.
The consideration field on the transfer instrument must reflect the sum of all properties’ consideration or market value (using whichever amount is greater for each property). This annexure is a declaration to the ACT Revenue Office to affirm your eligibility in accordance with the above provisions. The transferring instrument and annexure page must be submitted to Access Canberra upon registration. The ACT Revenue Office will then provide a Notice of Assessment for each property.