7Imposition of duty on certain transactions concerning dutiable property

7 Imposition of duty on certain transactions concerning dutiable property

(1) This Chapter charges duty on—

(a) a transfer of dutiable property; and

(b) the following transactions—

(i) a declaration of trust relating to dutiable property the specification of which forms part of the declaration of trust or part of the transaction constituted by the declaration of trust;

S. 7(1)(b)(ii) substituted by No. 39/2009 s. 4(1).

(ii) a surrender of dutiable property;

S. 7(1)(b)(iia) inserted by No. 71/2004 s. 5.

(iia) a disclaimer of an interest or a right in respect of dutiable property (other than dutiable property referred to in section 10(1)(b) or section 10(1)(c)) under the will or codicil of a deceased person or in or under the estate of a deceased person, irrespective of whether the will, codicil or estate has been fully administered;

S. 7(1)(b)(iib) inserted by No. 71/2004 s. 5.

(iib) a vesting of land in Victoria by, or expressly authorised by, statute law of this or another jurisdiction, whether in or outside Australia;

(iii) a vesting of dutiable property by a court order or an order of the Registrar of Titles;

(iv) the enlargement of a term into a fee‑simple under section 153 of the Property Law Act 1958; or

S. 7(1)(b)(v) substituted by No. 39/2009 s. 4(2).

(v) the granting of a lease for which any consideration other than rent reserved is paid or agreed to be paid, either in respect of the lease or in respect of—

(A) a right to purchase the land or a right to a transfer of the land;

(B) an option to purchase the land or an option for the transfer of the land;

(C) a right of first refusal in respect of the sale or transfer of the land;

(D) any other lease, licence, contract, scheme or arrangement by which the lessee, or an associated person of the lessee, obtains any right or interest in the land that is the subject of the lease other than the leasehold estate;

S. 7(1)(b)(va) inserted by No. 39/2009 s. 4(2).

(va) the transfer or assignment of a lease for which any consideration is paid or agreed to be paid, either in respect of the transfer or assignment or in respect of—

(A) a right to purchase the land or a right to a transfer of the land;

(B) an option to purchase the land or an option for the transfer of the land;

(C) a right of first refusal in respect of the sale or transfer of the land;

(D) any other lease, licence, contract, scheme or arrangement by which the transferee or assignee, or an associated person of the transferee or assignee, obtains any right or interest in the land that is the subject of the lease other than the leasehold estate;