104OOther transactions taken to be transfers

104O Other transactions taken to be transfers

104O Other transactions taken to be transfers

(1) Sections 9A–9C apply, subject to this section and to any other necessary modifications, for the purpose of charging surcharge purchaser duty under this Chapter.

(2) For that purpose—

(a) a change in partnership arrangements that is of a kind referred to in section 9A is taken to be a transfer of a partnership interest (within the meaning of this Chapter) if the partnership has partnership property that is residential-related property, and

(b) a transaction of a kind referred to in section 9B in respect of an option to purchase residential land in New South Wales is taken to be a transfer of an option to purchase residential land, and

(c) a transaction of a kind referred to in section 9C that is a novation of an agreement for the lease of residential land in New South Wales is taken to be a transfer of residential-related property as if—

(i) the lessee’s interest in the agreement were residential-related property, and

(ii) the novation of the agreement were a transfer of that residential-related property.

(3) Surcharge purchaser duty is chargeable on any such transfer if any of the persons taken to be transferees by section 9A, 9B or 9C (as the case may be) are foreign persons.

(4) To avoid doubt—

(a) this section does not affect liability for surcharge purchaser duty on a transfer of a partnership interest that occurs otherwise than because of a change in partnership arrangements, and

(b) a reference in this Act to a transfer of residential-related property includes a reference to a transaction taken to be a transfer by this section, and

(c) a reference in this Act to a surcharge duty transaction includes a reference to a transaction chargeable with surcharge purchaser duty under this section, and

(d) a reference in this Act to residential-related property includes, in relation to a transfer that is taken to occur under subsection (2) (c), a reference to a lessee’s interest in an agreement for the lease of residential land in New South Wales.

ss 104K–104T: Ins 2016 No 32, Sch 1 [14].