9Imposition of duty on dutiable transactions that are not transfers

9 Imposition of duty on dutiable transactions that are not transfers

9 Imposition of duty on dutiable transactions that are not transfers

(1) The duty charged by this Chapter on a dutiable transaction referred to in section 8 (1) (b) is to be charged as if each such dutiable transaction were a transfer of dutiable property.

(2) Accordingly, for the purpose of charging duty under this Chapter, in relation to a dutiable transaction specified in Column 1 of the following Table—

(a) the property specified opposite the dutiable 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 dutiable transaction in Column 3 is taken to be the transferee of the dutiable property (and a reference in this Act to a transferee includes a reference to such a person), and

(c) the transfer of the dutiable property is taken to have occurred at the time specified opposite the dutiable 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 | | Dutiable transaction | Property transferred | Transferee | When transfer occurs | | agreement for sale or transfer | the property agreed to be sold or transferred | the purchaser or transferee | when the agreement is entered into | | declaration of trust | the property vested or to be vested in the declarant | the person declaring the trust | when the declaration is made | | surrender | the surrendered property | the person to whom the property is surrendered | when the surrender takes place | | foreclosure | the mortgaged property | the mortgagee | when the foreclosure order is made | | vesting by court order | the vested property | the 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 | the person who acquires the estate in fee simple | when the term is enlarged | | vesting by statute law | the vested land in New South Wales | the person in whom the land is vested | when the vesting by statute law occurs | | lease | the leased property | the lessee | when the lease is entered into | | another transaction that results in a change in beneficial ownership of dutiable property | the property the beneficial ownership of which is changed | the person who obtains the beneficial ownership or whose beneficial ownership is increased | when beneficial ownership changes |