104NImposition of surcharge purchaser duty on transactions that are not transfers

#### 104N Imposition of surcharge purchaser duty on transactions that are not transfers 104N Imposition of surcharge purchaser duty on transactions that are not transfers (cf section 9) > > (1) The duty charged by this Chapter on a surcharge duty transaction referred to in section 104L (1) (b) is to be charged as if each such surcharge duty transaction were a transfer of residential-related property. > > > (2) Accordingly, for the purpose of charging duty under this Chapter, in relation to a surcharge duty transaction specified in Column 1 of the following Table— > > > > > (a) the property specified opposite the surcharge duty transaction in Column 2 is taken to be the property transferred (and a reference in this Act to property transferred includes a reference to such property), and > > > > > (b) the person specified opposite the surcharge duty transaction in Column 3 is taken to be the transferee of the residential-related property (and a reference in this Act to a transferee includes a reference to such a person), and > > > > > (c) the transfer of the residential-related property is taken to have occurred at the time specified opposite the surcharge duty transaction in Column 4 (and a reference in this Act to the time at which a transfer occurs includes a reference to such a time). > > > > Table > > > > | Column 1 | Column 2 | Column 3 | Column 4 | > > | Surcharge duty transaction | Property transferred | Transferee | When transfer occurs | > > | agreement for sale or transfer | the property agreed to be sold or transferred | any foreign person who is a purchaser or transferee | when the agreement is entered into | > > | declaration of trust | the property vested or to be vested in the declarant | any person declaring the trust who, because of the declaration, is a foreign trustee in respect of the trust | when the declaration is made | > > | surrender | the surrendered property | any foreign person to whom the property is surrendered | when the surrender takes place | > > | foreclosure | the mortgaged property | any foreign person who is a mortgagee | when the foreclosure order is made | > > | vesting by court order | the vested property | any foreign person in whom the property is vested | when the order is made | > > | enlargement of a term in land into a fee simple | the estate in fee simple | any foreign person who acquires the estate in fee simple | when the term is enlarged | > > | vesting by statute law | the vested land in New South Wales | any foreign person in whom the land is vested | when the vesting by statute law occurs | > > | lease | the leased property | any foreign person who is the lessee | when the lease is entered into | > > Note. > > See also section 104O and Part 2 of Chapter 3 for other transactions that are deemed to be transfers of residential-related property under this Chapter. > > **ss 104K–104T:** Ins 2016 No 32, Sch 1 \[14\].