Document ID: chunk:federal_register_of_legislation:C2017A00069:clause:1_6
Version: federal_register_of_legislation:C2017A00069
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 11798–13868

6                                             to take a notifiable action prescribed by regulations made for the purposes of section 48 of the Foreign Acquisitions Act  the amount not exceeding $101,500 that is prescribed by regulations, or worked out using the method prescribed by regulations, made for the purposes of this item.

Note 1: Consideration is defined by regulations made for the purposes of the Foreign Acquisitions Act (see section 4 of that Act).
Note 2: See also sections 10 (fees for internal reorganisations), 11 (regulations may lower fees) and 12 (indexation of fees) of this Act.

Fees for acquisition of interests in residential land—consideration more than $1 million, and $10 million or less
 (2) For the purposes of paragraph (b) of item 3 of the table in subsection (1), the amount of the fee is worked out as follows:

      Method statement
           Step 1. Apply the following formula:

            Round the resulting amount down to the nearest whole number, if necessary.
           Step 2. Multiply the step 1 amount by $10,000.
           Step 3. Multiply the step 2 amount by 1.015. Round the resulting amount down to the nearest multiple of $100, if necessary.
           Step 4. Add to the step 3 amount the amount that is 10% of the step 3 amount. Round the resulting amount down to the nearest multiple of $100, if necessary.
           Step 5. The step 4 amount is the amount of the fee.

Fees for acquisition of interests in residential land—consideration more than $10 million
 (3) For the purposes of paragraph (c) of item 3 of the table in subsection (1), the amount of the fee is worked out as follows:

      Method statement
           Step 1. Apply the following formula:

            Round the resulting amount down to the nearest whole number, if necessary.
           Step 2. Multiply the step 1 amount by $10,000.
           Step 3. Multiply the step 2 amount by 1.030. Round the resulting amount down to the nearest multiple of $100, if necessary.
           Step 4. The step 3 amount is the amount of the fee.