40Application of vendor duty

#### 40 Application of vendor duty 40 Application of vendor duty > > (1) The duty charged by Chapter 4, as inserted by the [State Revenue Legislation Amendment Act 2004](/view/html/repealed/current/act-2004-033), is charged on vendor duty transactions that occur on or after the commencement of Schedule 4 to that Act, except as provided by this Part. > > > (2) It does not matter that the vendor acquired an equitable or legal interest in the land-related property the subject of the vendor duty transaction before that commencement. > > > (3) Vendor duty is not chargeable in respect of a transfer of land-related property made in conformity with an agreement for sale or transfer of the land-related property first executed before the commencement of Schedule 4 to the [State Revenue Legislation Amendment Act 2004](/view/html/repealed/current/act-2004-033). > > > (4) Vendor duty is not chargeable in respect of a vendor duty transaction that results from the exercise of an option for the sale or purchase of land-related property, if the option was granted before the date the Bill for the [State Revenue Legislation Amendment Act 2004](/view/html/repealed/current/act-2004-033) was introduced in the Legislative Assembly. > > > (5) Section 25, insofar as it allows the aggregation of vendor duty transactions for the purpose of Chapter 4, does not apply to a vendor duty transaction that occurred before the commencement of Schedule 4 to the [State Revenue Legislation Amendment Act 2004](/view/html/repealed/current/act-2004-033). > > > > Note. > > > > See Part 2 of Chapter 4, which allows vendor duty transactions to be aggregated under that Chapter in the same manner as they can be aggregated under Chapter 2.