Queensland Numbered Acts

REVENUE LEGISLATION AMENDMENT ACT 2005 No. 60 - SECT 19

(1) Schedule 6, definitions cost, credit amount, credit arrangement, credit business duty, credit provider, credit transaction, discount transaction, grantee, grantor, lease, lease duty, loan, occupancy right, registered credit provider and short-term--

omit.

(2) Schedule 6--

insert--

'lease means--

(a) a lease, or agreement for lease, of land in Queensland; or

(b) an offer for the grant of exclusive possession of land in Queensland.

loan see section 250.

occupancy right means an agreement granting, or an offer for the grant of, a right to occupy premises in Queensland if--

(a) the occupier intends to use the premises for conducting a business; and

(b) the occupier does not obtain a right to exclusive possession but the occupier's use and enjoyment of the premises as a place of business is not adversely affected by the absence of the right to exclusive possession; and

(c) one of the following applies--

(i) the right is for a term of less than 1 month and there is an arrangement for extension or renewal of the right beyond 1 month and the cost of the right is more than $10000 on an annual basis;

(ii) the right is for a term of at least 1 month but less than 1 year and the cost of the right is more than $10000 on an annual basis;

(iii) the right is for a term of at least 1 year and the consideration for the term of the right is more than $10000 annually.

pre-repeal credit transaction, for chapter 17, part 5, division 1, see section 554(1).

pre-repeal lease duty liability, for chapter 17, part 5, division 2, see section 558(1).

registered credit provider, for chapter 17, part 5, division 1, see section 554(1).

repealed--

(a) for chapter 17, part 5, division 1, see section 554(1); and

(b) for chapter 17, part 5, division 2, see section 558(1).'.