75AMeaning of eligible property—div 2.6A.1

75A Meaning of eligible property—div 2.6A.1 (1) In this division: eligible property means— (a) for a home buyer concession scheme—property determined under the scheme as eligible property for the scheme; or

First home owner grant scheme and home buyer concession scheme Division 2.6A.1 (b) in any other case—a residential lease with a value not more than— (i) $750 000; or (ii) if another amount is determined by the Minister—the amount determined. (2) A determination under subsection (1) (b) (ii) is a disallowable instrument. 75AB Application to defer payment of duty (1) An eligible person may apply to the commissioner to defer payment of duty payable by the person on a dutiable transaction that is— (a) the transfer of an eligible property; or (b) an agreement for the sale or transfer of an eligible property. (2) The application must be made at the same time as the instrument effecting the dutiable transaction is lodged with the registrar-general under the Land Titles Act 1925, section 47C (Registration of instruments effecting dutiable transaction). (3) If there is more than 1 transferee or purchaser of the property, each transferee or purchaser must be an eligible person. (4) An applicant must provide the commissioner with any information the commissioner reasonably requires to decide the application. 75AC Approval to defer payment of duty (1) The commissioner must, on receipt of an application under section 75AB, approve the deferral of payment of duty payable by the applicant if— (a) the applicant is an eligible person; and (b) the duty is, or would be, payable on— (i) the transfer of an eligible property; or