57IWhat is a PPR transfer?

57I What is a PPR transfer? S. 57I(1) amended by No. 47/2020 s. 8. (1) A ***PPR transfer*** is a transfer of dutiable property, being an estate in fee simple in land referred to in section 57H, if— (a) the transferee, or each transferee if there are more than one, is— S. 57I(1)(a)(i) substituted by No. 50/2024 s. 17(1)(a). (i) any of the following— (A) a natural person who is at least 18 years of age; (B) if such a person is under a legal disability, a guardian of the person; (C) if such a person is the principal beneficiary of a special disability trust, a trustee of that trust; and (ii) a bona fide purchaser of the land for adequate consideration; and S. 57I(1)(b) substituted by No. 50/2024 s. 17(1)(b). (b) any of the following intends to occupy the land as their principal place of residence— (i) if the transferee is a guardian, the person under the legal disability; (ii) if the transferee is a trustee of a special disability trust, the principal beneficiary of that trust; (iii) in any other case, the transferee or at least one of the transferees; and S. 57I(1)(c) amended by No. 28/2017 s. 9(a). (c) the contract for the purchase of the land was entered into on or after 1 January 2007. S. 57I(1)(d) amended by Nos 31/2008 s. 9(1), 28/2011 s. 5, 41/2013 s. 16, repealed by No. 28/2017 s. 9(b). S. 57I(2) amended by No. 50/2024 s. 17(2). (2) The Commissioner may determine that a transfer is a PPR transfer despite a transferee, person under a legal disability or principal beneficiary being under 18 years of age if the Commissioner is satisfied that the transfer does not form part of a scheme or arrangement designed to take advantage of the benefit of this Division. S. 57J (Heading) amended by Nos 28/2011 s. 6(1), 28/2017 s. 10(1). S. 57J inserted by No. 86/2006 s. 3, amended by Nos 28/2011 s. 6(2), 28/2017 s. 10(2).