57JRates of duty for certain PPR transfers

57J Rates of duty for certain PPR transfers

The rate of duty chargeable on a PPR transfer where the dutiable value of the dutiable property is not more than $550 000 is chargeable to the nearest whole dollar of the amount determined as follows, or if that amount is an amount of dollars and fifty cents, to the nearest whole dollar below that amount—

S. 57J (Table) substituted by Nos 31/2008 s. 9(2), 28/2017 s. 10(3).

| Item | Dutiable value of the dutiable property | Rate of duty | | 1 | Not more than $25 000 | 1⋅4% of the dutiable value | | 2 | More than $25 000 but not more than $130 000 | $350 plus 2⋅4% of that part of the dutiable value that exceeds $25 000 | | 3 | More than $130 000 but not more than $440 000 | $2870 plus 5% of that part of the dutiable value that exceeds $130 000 | | 4 | More than $440 000 but not more than $550 000 | $18 370 plus 6% of that part of the dutiable value that exceeds $440 000 |

Note to s. 57J inserted by No. 28/2011 s. 6(3), amended by Nos 41/2013 s. 17, 69/2013 s. 9, substituted by No. 28/2017 s. 10(4).

A PPR transfer where the dutiable value of the dutiable property is more than $550 000 is chargeable with duty at the rate set out in section 28(1), subject to any exemption or concession.

S. 57JA (Heading) amended by No. 50/2024 s. 18(1).

S. 57JA inserted by No. 28/2011 s. 7, substituted by Nos 41/2013 s. 18, 28/2017 s. 11.

57JA First home buyer exemption or concession on PPR transfers

(1) A transferee is entitled to an exemption from duty under this Chapter in respect of a PPR transfer if—

S. 57JA(1)(a) substituted by No. 50/2024 s. 18(2).

(a) the requirements specified in section 57JB are satisfied at the time of the transfer; and

(b) the dutiable value of the dutiable property the subject of the PPR transfer is not more than $600 000.

(2) A transferee is entitled to a concession from duty under this Chapter in respect of a PPR transfer if—

S. 57JA(2)(a) substituted by No. 50/2024 s. 18(3).

(a) the requirements specified in section 57JB are satisfied at the time of the transfer; and

(b) the dutiable value of the dutiable property the subject of the PPR transfer is more than $600 000 but not more than $750 000.

S. 57JA(3) amended by No. 67/2017 s. 6.

(3) For the purposes of subsection (2), the concessional amount of duty payable is an amount calculated in accordance with the formula—

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