Certain transactions relating to land in the contribution area are exempt from the GAIC. An exemption is available in respect of particular dutiable transactions, certain transfers involving superannuation funds and on compulsorily acquired land.
More information on each of the exemptions is available below.
Note: a GAIC exemption does not extinguish a GAIC liability in respect of the land. It only postpones the GAIC liability to a subsequent GAIC event, unless an appropriate exemption also applies to that subsequent GAIC event.
To apply for an exemption under any of these categories, please complete an application form and submit it to us together with supporting documentation.
Dutiable transactions relating to land
A dutiable land transaction is exempt from GAIC only if:
- The transaction is made for no consideration,
- The transaction is specifically referred to in s201TB of the Planning and Environment Act 1987 as being exempt from duty under Duties Act 2000 (the Act). Examples include, but are not limited to, the transfer of land resulting from a change in trustees (s33); marriage breakdown (s44); pursuant to a deceased estate (s42), family farm transfers (s56),
- Land that is vested in or held by a public authority or a municipal council is:
- surrendered by that authority or council to the Crown,
- transferred by that authority or council to another public authority or municipal council, or
- exchanged by that authority or council with another public authority or municipal council, or
- Land that is vested in or held by the Director of Public Transport is:
- transferred by the Director on behalf of the Crown to a public authority or to a municipal council, or
- exchanged by the Director on behalf of the Crown for land vested in or held by a public authority or a municipal council
Superannuation fund transfers
The transfer of land in the contribution area by land owner to the trustee of a complying superannuation fund, or from the trustee of a complying superannuation fund to the beneficiaries of that fund is exempt from GAIC.
If your GAIC liability is causing you difficulty, you may wish to consider the various ways to manage that liability.