Foreign Acquisitions and Takeovers Fees Imposition Amendment (Near-new Dwelling Interests) Act 2019 (126 of 2019)

Schedule 1   Near-new dwelling interests

Part 1   Amendments

Foreign Acquisitions and Takeovers Fees Imposition Act 2015

4   At the end of section 6

Add:

Fees for residential land (near-new dwelling interests) certificates - 6 monthly fees for developers

(5) The amount of a fee that is payable by a developer mentioned in subsection 113(2A) of the Foreign Acquisitions Act at the end of a 6 month period is the total of the amounts that are payable under subsection (6) of this section for each near-new dwelling acquisition that occurs during the period.

Note: Subsections 113(3) and (4A) of the Foreign Acquisitions Act define 6 month period and near-new dwelling acquisition .

(6) The amount that is payable for a near-new dwelling acquisition is the amount that, at the time of the acquisition, would have been payable for the acquisition under item 3 of the table in subsection 7(1) of this Act assuming the acquisition had been a notifiable action.