57FIf the natural person dies

57F If the natural person dies If, before an arrangement described in section 57A, 57B, 57C or 57D has been completed, the natural person dies, no duty is chargeable under this Chapter in respect of— (a) the transfer of any interest held by the natural person under the arrangement to another natural person by virtue of— (i) a testamentary gift; or (ii) the right of survivorship; or (iii) the **Administration and Probate Act 1958**; or (b) the transfer of any interest held by the financial institution under the arrangement to another natural person by virtue of— (i) a testamentary gift; or (ii) the right of survivorship; or (iii) the **Administration and Probate Act 1958**. S. 57FA inserted by No. 17/2019 s. 8. 57FA Dealing with fixtures separately from land (1) No duty is chargeable under this Chapter on a dutiable transaction in relation to dutiable property referred to in section 10(1)(ad) if the unencumbered value of the fixtures to which the dutiable property relates does not exceed $2 000 000. (2) If the unencumbered value of the fixtures to which dutiable property referred to in section 10(1)(ad) relates exceeds $2 000 000 but does not exceed $3 000 000, duty is chargeable on a dutiable transaction in relation to the dutiable property, subject to subsection (3), in accordance with the following formula— **A** is the unencumbered value of the fixtures to which dutiable property referred to in section 10(1)(ad) relates; **B** is the duty that, apart from this subsection, would be chargeable on the dutiable transaction under this Chapter. (3) This section does not apply if the dutiable transaction in relation to dutiable property referred to in section 10(1)(ad) is part of an arrangement that includes a dutiable transaction in relation to any estate or interest in the land on which the fixtures are located. S. 57FB inserted by No. 17/2019 s. 8. 57FB Calculation of duty for aggregated transactions involving fixtures and land (1) This section applies to the aggregation under section 24(1) of— (a) one or more dutiable transactions in relation to dutiable property referred to in section 10(1)(ad) if the total unencumbered value of the fixtures to which the dutiable property relates does not exceed $3 000 000; and (b) one or more dutiable transactions in relation to land other than land on which the fixtures to which the dutiable property referred to in section 10(1)(ad) are located. (2) The duty chargeable on the aggregated dutiable transactions is the sum of— (a) the duty (if any) that would be chargeable on the dutiable transaction or transactions in relation to dutiable property referred to in section 10(1)(ad) in accordance with section 57FA, assuming they were the only dutiable transactions being aggregated; and (b) the duty that would be chargeable on the other dutiable transactions in the aggregation, assuming they were the only dutiable transactions being aggregated. S. 57FC inserted by No. 22/2021 s. 9. 57FC Exemption or concession for new homes in City of Melbourne (1) Subject to subsections (3) and (4), no duty is chargeable under this Chapter on a transfer of eligible property if— (a) the transferee, or each transferee if there are more than one, is a bona fide purchaser of the eligible property for adequate consideration; and (b) an occupancy permit for the new home affixed to the eligible property was issued at least 12 months before the date of the contract for the purchase of the eligible property; and (c) the contract for the purchase of the eligible property was entered into on or after 21 May 2021 but before 1 July 2022. (2) Subject to subsections (1), (3) and (4), the duty otherwise chargeable under this Chapter on a transfer of eligible property is to be reduced by 50% if— (a) the transferee, or each transferee if there are more than one, is a bona fide purchaser of the eligible property for adequate consideration; and (b) the contract for the purchase of the eligible property was entered into on or after 1 July 2021 but before 1 July 2022. (3) Subsection (1) or (2) does not apply if the Commissioner determines that the contract for purchase of the eligible property replaces a previous contract for the purchase of the same eligible property entered into before— (a) 21 May 2021 in the case of a contract referred to in subsection (1); or (b) 1 July 2021 in the case of a contract referred to in subsection (2). S. 57FC(4) substituted by No. 18/2023 s. 12. (4) No account is to be taken of this section in determining any duty chargeable under section 28A(2) on a transfer to a foreign purchaser of a land-related interest in residential property. (5) Despite section 89D or 89E, nothing in this section applies for the purposes of determining any duty payable under Part 2 of Chapter 3. (6) If the transfer is of a partial interest in dutiable property, the dutiable value of the dutiable property for the purpose of determining if it is eligible property is the unencumbered value of the whole of the dutiable property at the time of the transfer. ***City of Melbourne*** has the meaning given by section 3 of the **City of Melbourne Act 2001**; ***eligible property*** means dutiable property referred to in section 10(1)(a) or (ab) that— (a) is residential property wholly within the City of Melbourne to which a new home is affixed; and (b) subject to subsection (6), has a dutiable value of no more than $1 000 000; ***new home*** has the meaning given by section 3 of the **First Home Owner Grant and Home Buyer Schemes Act 2000**; ***occupancy permit*** has the same meaning as in the **Building Act 1993**. Ch. 2 Pt 5 Div. 4A (Heading) amended by No. 28/2011 s. 3, substituted by No. 28/2017 s. 7. Ch. 2 Pt 5 Div. 4A (Heading and ss 57G–57O) inserted by No. 86/2006 s. 3.