Changes to transfer and landholder duty for resources exploration in Queensland

As part of its Mid Year Fiscal and Economic Review, the then Queensland Government announced in January this year its plans to change the definition of 'land' and 'statutory licence' under the Duties Act 2001 (Qld) to include resources exploration tenements.

The Fiscal Repair Amendment Bill 2012, which contained these proposed amendments, was introduced into Queensland Parliament last Tuesday and was passed on 14 September.

Special counsel Justin Byrne and solicitor Hannah Byrne outline how the Bill will change the duty liability for resources exploration in Queensland.

Key points

• Under the Fiscal Repair Amendment Bill 2012, the definition of 'land' will be amended to include a 'resource authority', ensuring that exploration permits, mining leases, pipeline leases and pipeline licences are all dutiable.