sec.156NMaking of payment commitment for relevant transfer agreement to transfer dutiable property

### sec.156N Making of payment commitment for relevant transfer agreement to transfer dutiable property A payment commitment for an agreement for the transfer of dutiable property that is a relevant transfer agreement is made by the parties to the agreement if— the ELN workspace for an ELN transfer of the dutiable property to the transferee under the agreement is locked; and the amount (the commitment amount ) of transfer duty, assessed interest and penalty tax imposed on the agreement— is included in the ELN workspace as an amount to be paid; and The settlement schedule in the ELN workspace includes the amount of transfer duty, assessed interest and penalty tax imposed on the agreement. is outstanding when the ELN workspace becomes locked. For subsection (1) (b) , an amount is outstanding if it has not been— if the relevant self assessor is registered under chapter 12 , part 2 —paid to the commissioner; or if the relevant self assessor is registered under chapter 12 , part 3 —paid to the commissioner or received by the relevant self assessor. A payment commitment made for an agreement for the transfer of dutiable property that is a relevant transfer agreement has effect until the earlier of the following— the commissioner is paid all of the commitment amount; the ELN workspace for an ELN transfer of the dutiable property to the transferee under the agreement is unlocked. In this section— relevant self assessor means a self assessor registered under chapter 12 , part 2 or 3 who, for the purposes of endorsing an ELN transaction document under section 455A — assigns a transaction number to the ELN transaction document; or is notified of a transaction number assigned to the ELN transaction document under a system administered by the commissioner. s 156N ins 2015 No. 4 s 19 amd 2018 No. 27 s 25 (sec.156N-ssec.1) A payment commitment for an agreement for the transfer of dutiable property that is a relevant transfer agreement is made by the parties to the agreement if— the ELN workspace for an ELN transfer of the dutiable property to the transferee under the agreement is locked; and the amount (the commitment amount ) of transfer duty, assessed interest and penalty tax imposed on the agreement— is included in the ELN workspace as an amount to be paid; and The settlement schedule in the ELN workspace includes the amount of transfer duty, assessed interest and penalty tax imposed on the agreement. is outstanding when the ELN workspace becomes locked. (sec.156N-ssec.2) For subsection (1) (b) , an amount is outstanding if it has not been— if the relevant self assessor is registered under chapter 12 , part 2 —paid to the commissioner; or if the relevant self assessor is registered under chapter 12 , part 3 —paid to the commissioner or received by the relevant self assessor. (sec.156N-ssec.3) A payment commitment made for an agreement for the transfer of dutiable property that is a relevant transfer agreement has effect until the earlier of the following— the commissioner is paid all of the commitment amount; the ELN workspace for an ELN transfer of the dutiable property to the transferee under the agreement is unlocked. (sec.156N-ssec.4) In this section— relevant self assessor means a self assessor registered under chapter 12 , part 2 or 3 who, for the purposes of endorsing an ELN transaction document under section 455A — assigns a transaction number to the ELN transaction document; or is notified of a transaction number assigned to the ELN transaction document under a system administered by the commissioner. - (a) the ELN workspace for an ELN transfer of the dutiable property to the transferee under the agreement is locked; and - (b) the amount (the commitment amount ) of transfer duty, assessed interest and penalty tax imposed on the agreement— (i) is included in the ELN workspace as an amount to be paid; and Example— The settlement schedule in the ELN workspace includes the amount of transfer duty, assessed interest and penalty tax imposed on the agreement. (ii) is outstanding when the ELN workspace becomes locked. - (i) is included in the ELN workspace as an amount to be paid; and Example— The settlement schedule in the ELN workspace includes the amount of transfer duty, assessed interest and penalty tax imposed on the agreement. - (ii) is outstanding when the ELN workspace becomes locked. - (i) is included in the ELN workspace as an amount to be paid; and Example— The settlement schedule in the ELN workspace includes the amount of transfer duty, assessed interest and penalty tax imposed on the agreement. - (ii) is outstanding when the ELN workspace becomes locked. - (a) if the relevant self assessor is registered under chapter 12 , part 2 —paid to the commissioner; or - (b) if the relevant self assessor is registered under chapter 12 , part 3 —paid to the commissioner or received by the relevant self assessor. - (a) the commissioner is paid all of the commitment amount; - (b) the ELN workspace for an ELN transfer of the dutiable property to the transferee under the agreement is unlocked. - (a) assigns a transaction number to the ELN transaction document; or - (b) is notified of a transaction number assigned to the ELN transaction document under a system administered by the commissioner.