Aggregation of properties is applied to transactions, where an arrangement is made, that involves two or more separate items of dutiable property, that occurred within 12 month of each other, and the transferee/buyer is the same or the transferees/buyers are associated people.
Dutiable transactions that can satisfy one of the below provisions, will not be aggregated.
- Transactions are for the purpose of acquiring 2 or more blocks of land in the same subdivision for the purpose of developing the blocks for resale; or
- The transactions are 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
- The transactions are 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 meets one of these provisions, you need to complete the accompanying Annexure - form 029 (external site), which must list each property separately and the market value or consideration, whichever is greater. The consideration field on the transfer instrument must reflect the full consideration or market value, whichever is greater, of all properties. 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 the Land Titles Office upon registration. The ACT Revenue Office will then provide a Notice of Assessment for each property.
If your transaction does not meet the above provisions, you must submit the transferring instrument with all transactions relating to the agreement or notify the ACT Revenue Office of previous assessments that give effect to aggregation. No Annexure page is required for aggregated transactions. The ACT Revenue Office will then provide an aggregated Notice of Assessment.
If you declare you are eligible for your transaction not to be aggregated and your circumstances change, you are required to notify the ACT Revenue Office within 14 days of the notifiable event. You can do this by emailing email@example.com.