Grant of certain Crown leases on surrender of development lease

Conveyance duty is not imposed on the grant of a Crown lease (new Crown lease) on the surrender of a development lease if:

the new Crown lease is granted to the person who was the lessee under the development lease at the time of its surrender, and
all of the land in the new lease is the land that was comprised in the development lease.

A development lease is a Crown lease that is expressed to be granted for the purpose of developing the land comprised in the lease for subdivision and resale.

Have you been granted a new Crown lease (a new lease) on the surrender of a development lease in the ACT?

Development lease is a Crown lease that is expressed to be granted for the purpose of developing the land comprised in the lease for subdivision and resale.

All concessions and exemption applications at the ACT Revenue Office are self-assessed. You are obligated to ensure that all the eligibility criteria have been met (or will be met) before applying for any concession or exemption code in the Buyer Verification Declaration.

You should undertake your own inquiries into the eligibility requirements. This may include obtaining information from this website, legislation, or independent professional advice.