Foreign Acquisitions and Takeovers Act 1975

PART 6 - FEES IN RELATION TO ACTIONS  

SECTION 113   WHEN FEES ARE PAYABLE  

113(1)  


The person mentioned in column 1 of the following table must pay a fee to the Treasurer in accordance with column 2 of the table.


When fees are payable
Item Column 1
This person [mldr ]
Column 2
must pay a fee [mldr ]
1 a person who applies for an exemption certificate (a) when the application is made; and
(b) for a person who is given an exemption certificate under section 57 or a residential land (near-new dwelling interests) certificate - at the end of each 6 month period covered by subsection (2) or (2A).
2 a person who applies for a variation of an exemption certificate when the application is made.
3 a person who gives a notice of a notifiable action under section 81 when the notice is given.
4 a person who gives a notice to the Treasurer of a proposal to take an action that is not a notifiable action when the notice is given.
5 a person: before the end of 30 days after the order or notification is given.
(a) in relation to whom an order is made under Subdivision A of Division 2 of Part 3; or
(b) to whom a no objection notification is given;
who did not give to the Treasurer a notice relating to the action specified in the order or notification
6 a person who applies under subsection 76(6) for a variation of a no objection notification when the application is made.

Note: The amounts of the fees are in Part 2 of the Foreign Acquisitions and Takeovers Fees Imposition Act 2015 .

6 monthly fees for developers

113(2)  


A person (the developer ) who is given an exemption certificate under section 57 (the section 57 certificate ) must pay a fee for a 6 month period if there were one or more new dwelling acquisitions during the period.

113(2A)  


A person (the developer ) who is given a residential land (near-new dwelling interests) certificate must pay a fee for a 6 month period if there were one or more near-new dwelling acquisitions covered by the certificate during the period.

113(3)  
A 6 month period is:


(a) the period of 6 months beginning immediately after the developer is given the section 57 certificate or the residential land (near-new dwelling interests) certificate (whichever is applicable); or


(b) any subsequent 6 month period.

113(4)  


A new dwelling acquisition is an acquisition by a foreign person of an interest in a new dwelling that is covered by the section 57 certificate given to the developer.

113(4A)  


A near-new dwelling acquisition is an acquisition by a foreign person of a near-new dwelling interest that is covered by the residential land (near-new dwelling interests) certificate given to the developer. Debts may be recovered by Treasurer

113(5)  


A fee payable under this section that does not relate to an application made or a notice given by the person may be recovered by the Treasurer, on behalf of the Commonwealth, as a debt due to the Commonwealth in a court of competent jurisdiction.



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