A relevant transaction is
- a relevant reconstruction transaction – certain dutiable transactions or the acquisition of an interest in a landholder between members of a family
- a relevant consolidation transaction – the formation of a new family by inserting a new head entity between an entity and the shareholders or unit holders of that entity.
For the purposes of this exemption, a family consists of a parent entity and its subsidiary entities. To be a subsidiary entity, the parent entity must hold 90% of the securities of that entity and control 90% of the votes at a general meeting of that entity.
Notify us of certain events that occur after a connected entities exemption is granted.
An exemption can be revoked automatically if the parent entity ceases to own and control more than 50% of the transferee within three years after the transaction (unless this is as a result of a public float or demerger). The Commissioner can also revoke the exemption if it was part of a scheme to avoid duty.
Apply for a pre-transaction decision if you are proposing to enter into a transaction to find out
- whether a connected entities exemption would be granted if the transaction was entered into or
- if another transaction is entered into, whether the Commissioner would revoke a previously granted exemption for a relevant transaction.