A public ruling, when issued, is the published view of the Commissioner of State Revenue (the Commissioner) on the particular topic to which it relates. It therefore replaces and overrides any existing private rulings, memoranda, manuals and advice provided by the Commissioner in respect of the issue(s) it addresses.
Where a change in legislation or case law (the law) affects the content of a public ruling, the change in the law overrides the public ruling—that is, the Commissioner will determine the tax liability or eligibility for a concession, grant or exemption, as the case may be, in accordance with the law.
Blackacre is conveyed by A to B (transfer 1). A intended to convey Whiteacre to B but the incorrect real property description was inserted in the transfer in error.
To correct the error, B transfers Blackacre back to A (transfer 2), and A transfers Whiteacre to B (transfer 3). If the conditions for application of ss.152 and 152A are met, transfer 2 will be exempt from transfer duty under s.152 of the Duties Act, and transfer 1 will be exempt from transfer duty under s.152A of the Duties Act.
Duty will be payable on transfer 3.
Commissioner of State Revenue
Date of issue: 24 June 2013
|Public Ruling||Issued||Dates of effect|
|DA152A.1.1||24 June 2013||24 June 2013||Current|