sec.153Reassessment—disposal after occupation date for residence

### sec.153 Reassessment—disposal after occupation date for residence This section applies if— transfer duty on a dutiable transaction that is 1 of the following is assessed on the basis of a concession under section 91 , 92 , 92A , 92B , 93 , 93A or 93B — the transfer, or agreement for the transfer, of residential land or vacant land; the acquisition, mentioned in section 85 (b) , of a lease of residential land or vacant land; the vesting, mentioned in section 85 (c) , of residential land or vacant land; and a transferee, lessee or vested person for the land, within the year after the transferee’s, lessee’s or vested person’s occupation date for the residence, disposes of the land, other than because of an intervening event, by— transferring part or all of it; or leasing or otherwise granting exclusive possession of part or all of it to another person; or for a lease of residential land on which a home, first home or first home and new home is constructed or of vacant land on which a first home is to be constructed and for which a premium, fine or other consideration is payable—surrendering the lease. For subsection (1) (b) , a transferee, lessee or vested person for land does not dispose of land if— the transferee, lessee or vested person transfers part of the land to the transferee’s, lessee’s or vested person’s spouse; and the transfer is exempt from duty under section 151 . Also, for subsection (1) (b) , a transferee or vested person for land does not dispose of residential land that is an accommodation unit in a retirement village only by entering into a retirement village leasing arrangement for the unit. Also, for subsection (1) (b) (ii) , a transferee, lessee or vested person for land does not dispose of land only by entering into a residential lease of part, but not all, of the land. The commissioner must make a reassessment to impose further transfer duty on the dutiable transaction worked out using the following formula— where— C means the difference between the transfer duty that would have been imposed on the dutiable transaction if the concession had not applied to the transferee, lessee or vested person and transfer duty assessed on the dutiable transaction. OD means the number of days between the transferee’s, lessee’s or vested person’s occupation date for the residence and the date of disposal of the land, both days inclusive. TD means the further transfer duty payable on the reassessment. If— under subsection (1A) or section 154 (2A) , this section or section 154 does not apply to a transferee’s, lessee’s or vested person’s transfer of part of the land to the transferee’s, lessee’s or vested person’s spouse; and under subsection (1) (b) , the transferee, lessee or vested person later disposes of the land or part of it; this section applies to the later disposal as if the transferee, lessee or vested person had not transferred the part of the land to the transferee’s, lessee’s or vested person’s spouse. In this section— residential lease , of part of land, means a lease, or other grant of exclusive possession, of the part to a person for use for residential purposes. s 153 amd 2002 No. 65 s 19 ; 2006 No. 44 s 37 ; 2008 No. 75 ss 5 (retro), 39; 2010 No. 11 s 30 ; 2011 No. 8 ss 34 , 122 sch ; 2011 No. 20 s 139 ; 2012 No. 8 s 23 ; 2025 No. 1 ss 4 (retro), 18 (sec.153-ssec.1) This section applies if— transfer duty on a dutiable transaction that is 1 of the following is assessed on the basis of a concession under section 91 , 92 , 92A , 92B , 93 , 93A or 93B — the transfer, or agreement for the transfer, of residential land or vacant land; the acquisition, mentioned in section 85 (b) , of a lease of residential land or vacant land; the vesting, mentioned in section 85 (c) , of residential land or vacant land; and a transferee, lessee or vested person for the land, within the year after the transferee’s, lessee’s or vested person’s occupation date for the residence, disposes of the land, other than because of an intervening event, by— transferring part or all of it; or leasing or otherwise granting exclusive possession of part or all of it to another person; or for a lease of residential land on which a home, first home or first home and new home is constructed or of vacant land on which a first home is to be constructed and for which a premium, fine or other consideration is payable—surrendering the lease. (sec.153-ssec.1A) For subsection (1) (b) , a transferee, lessee or vested person for land does not dispose of land if— the transferee, lessee or vested person transfers part of the land to the transferee’s, lessee’s or vested person’s spouse; and the transfer is exempt from duty under section 151 . (sec.153-ssec.1B) Also, for subsection (1) (b) , a transferee or vested person for land does not dispose of residential land that is an accommodation unit in a retirement village only by entering into a retirement village leasing arrangement for the unit. (sec.153-ssec.1C) Also, for subsection (1) (b) (ii) , a transferee, lessee or vested person for land does not dispose of land only by entering into a residential lease of part, but not all, of the land. (sec.153-ssec.2) The commissioner must make a reassessment to impose further transfer duty on the dutiable transaction worked out using the following formula— where— C means the difference between the transfer duty that would have been imposed on the dutiable transaction if the concession had not applied to the transferee, lessee or vested person and transfer duty assessed on the dutiable transaction. OD means the number of days between the transferee’s, lessee’s or vested person’s occupation date for the residence and the date of disposal of the land, both days inclusive. TD means the further transfer duty payable on the reassessment. (sec.153-ssec.3) If— under subsection (1A) or section 154 (2A) , this section or section 154 does not apply to a transferee’s, lessee’s or vested person’s transfer of part of the land to the transferee’s, lessee’s or vested person’s spouse; and under subsection (1) (b) , the transferee, lessee or vested person later disposes of the land or part of it; this section applies to the later disposal as if the transferee, lessee or vested person had not transferred the part of the land to the transferee’s, lessee’s or vested person’s spouse. (sec.153-ssec.4) In this section— residential lease , of part of land, means a lease, or other grant of exclusive possession, of the part to a person for use for residential purposes. - (a) transfer duty on a dutiable transaction that is 1 of the following is assessed on the basis of a concession under section 91 , 92 , 92A , 92B , 93 , 93A or 93B — (i) the transfer, or agreement for the transfer, of residential land or vacant land; (ii) the acquisition, mentioned in section 85 (b) , of a lease of residential land or vacant land; (iii) the vesting, mentioned in section 85 (c) , of residential land or vacant land; and - (i) the transfer, or agreement for the transfer, of residential land or vacant land; - (ii) the acquisition, mentioned in section 85 (b) , of a lease of residential land or vacant land; - (iii) the vesting, mentioned in section 85 (c) , of residential land or vacant land; and - (b) a transferee, lessee or vested person for the land, within the year after the transferee’s, lessee’s or vested person’s occupation date for the residence, disposes of the land, other than because of an intervening event, by— (i) transferring part or all of it; or (ii) leasing or otherwise granting exclusive possession of part or all of it to another person; or (iii) for a lease of residential land on which a home, first home or first home and new home is constructed or of vacant land on which a first home is to be constructed and for which a premium, fine or other consideration is payable—surrendering the lease. - (i) transferring part or all of it; or - (ii) leasing or otherwise granting exclusive possession of part or all of it to another person; or - (iii) for a lease of residential land on which a home, first home or first home and new home is constructed or of vacant land on which a first home is to be constructed and for which a premium, fine or other consideration is payable—surrendering the lease. - (i) the transfer, or agreement for the transfer, of residential land or vacant land; - (ii) the acquisition, mentioned in section 85 (b) , of a lease of residential land or vacant land; - (iii) the vesting, mentioned in section 85 (c) , of residential land or vacant land; and - (i) transferring part or all of it; or - (ii) leasing or otherwise granting exclusive possession of part or all of it to another person; or - (iii) for a lease of residential land on which a home, first home or first home and new home is constructed or of vacant land on which a first home is to be constructed and for which a premium, fine or other consideration is payable—surrendering the lease. - (a) the transferee, lessee or vested person transfers part of the land to the transferee’s, lessee’s or vested person’s spouse; and - (b) the transfer is exempt from duty under section 151 . - (a) under subsection (1A) or section 154 (2A) , this section or section 154 does not apply to a transferee’s, lessee’s or vested person’s transfer of part of the land to the transferee’s, lessee’s or vested person’s spouse; and - (b) under subsection (1) (b) , the transferee, lessee or vested person later disposes of the land or part of it;