Chapter 3, Part 2 of the Duties Act 2001 imposes duty on acquisitions of certain interests in Land Rich Corporations.

Land Rich Corporations as defined as private companies or private unit trust schemes that have:

1. land holdings in Tasmania with an unencumbered value of $500,000 or more; and
2. land holdings in all places, whether within or outside Australia, comprising 60% or more of the unencumbered value of all its property.

• lodge an Acquisition of Interest in a Land Rich Corporation statement, and
• pay duty calculated by reference to the unencumbered value of the land holdings of the corporation.