8Imposition of duty on certain transactions concerning dutiable property

8 Imposition of duty on certain transactions concerning dutiable property

8 Imposition of duty on certain transactions concerning dutiable property

(1) This Chapter charges duty on—

(a) a transfer of dutiable property, and

(b) the following transactions—

(i) an agreement for the sale or transfer of dutiable property,

(ii) a declaration of trust over dutiable property,

(iii) a surrender of an interest in land in New South Wales,

(iv) a foreclosure of a mortgage over dutiable property,

(v) a vesting of dutiable property by or as a consequence of an order of a court of this or another jurisdiction, whether inside or outside Australia,

(vi) the enlargement of a term in land into a fee simple under section 134 of the Conveyancing Act 1919,

(vii) a vesting of land in New South Wales by, or expressly authorised by, statute law of this or another jurisdiction, whether inside or outside Australia,

(viii) a lease in respect of which a premium is paid or agreed to be paid,

(ix) another transaction that results in a change in beneficial ownership of dutiable property, other than an excluded transaction.

(c) (Repealed)

Note.

There are other provisions in this Act that deem certain transactions to be a transfer of dutiable property under this Chapter, for example—

(a) section 9A, which provides for certain circumstances in which a transfer of a partnership interest is taken to occur, and

(b) section 9B, which provides for certain circumstances in which a transfer of an option to purchase land is taken to occur, and

(c) section 9C, which provides for circumstances in which a novation of an agreement for the lease of land in New South Wales is taken to be a transfer of dutiable property, and

(d) Part 2 of Chapter 3, which treats a transfer or assignment of an option to purchase dutiable property as a transfer of the dutiable property in certain circumstances.