sec.240Conditions for imposing AFAD

### sec.240 Conditions for imposing AFAD AFAD is imposed on a relevant transaction if, at the time the liability for transfer duty, landholder duty or corporate trustee duty on the transaction arises— the property condition under section 241 applies; and an acquirer under the transaction is a foreign person. Also, AFAD is imposed on a relevant transaction that is an agreement for the transfer of dutiable property if— the commissioner is satisfied— a person (the agent ) is appointed in writing as an agent for another person (the principal ); and under the appointment, the agent enters into the agreement for the transfer of the dutiable property from a person to the agent on behalf of the principal (the agreement ); and the principal provided all the consideration, including any deposit paid; and at the time the liability for transfer duty on the agreement arises— the property condition under section 241 applies; and AFAD is not imposed on the agreement under subsection (1) ; and the principal is a foreign person. For subsection (2) (a) (i) , the commissioner must not be satisfied the person was properly appointed as agent unless the original instrument of appointment, or a copy of it, is lodged. s 240 prev s 240 om 2005 No. 60 s 11 pres s 240 ins 2016 No. 37 s 9 amd 2017 No. 20 s 7 (sec.240-ssec.1) AFAD is imposed on a relevant transaction if, at the time the liability for transfer duty, landholder duty or corporate trustee duty on the transaction arises— the property condition under section 241 applies; and an acquirer under the transaction is a foreign person. (sec.240-ssec.2) Also, AFAD is imposed on a relevant transaction that is an agreement for the transfer of dutiable property if— the commissioner is satisfied— a person (the agent ) is appointed in writing as an agent for another person (the principal ); and under the appointment, the agent enters into the agreement for the transfer of the dutiable property from a person to the agent on behalf of the principal (the agreement ); and the principal provided all the consideration, including any deposit paid; and at the time the liability for transfer duty on the agreement arises— the property condition under section 241 applies; and AFAD is not imposed on the agreement under subsection (1) ; and the principal is a foreign person. (sec.240-ssec.3) For subsection (2) (a) (i) , the commissioner must not be satisfied the person was properly appointed as agent unless the original instrument of appointment, or a copy of it, is lodged. - (a) the property condition under section 241 applies; and - (b) an acquirer under the transaction is a foreign person. - (a) the commissioner is satisfied— (i) a person (the agent ) is appointed in writing as an agent for another person (the principal ); and (ii) under the appointment, the agent enters into the agreement for the transfer of the dutiable property from a person to the agent on behalf of the principal (the agreement ); and (iii) the principal provided all the consideration, including any deposit paid; and - (i) a person (the agent ) is appointed in writing as an agent for another person (the principal ); and - (ii) under the appointment, the agent enters into the agreement for the transfer of the dutiable property from a person to the agent on behalf of the principal (the agreement ); and - (iii) the principal provided all the consideration, including any deposit paid; and - (b) at the time the liability for transfer duty on the agreement arises— (i) the property condition under section 241 applies; and (ii) AFAD is not imposed on the agreement under subsection (1) ; and (iii) the principal is a foreign person. - (i) the property condition under section 241 applies; and - (ii) AFAD is not imposed on the agreement under subsection (1) ; and - (iii) the principal is a foreign person. - (i) a person (the agent ) is appointed in writing as an agent for another person (the principal ); and - (ii) under the appointment, the agent enters into the agreement for the transfer of the dutiable property from a person to the agent on behalf of the principal (the agreement ); and - (iii) the principal provided all the consideration, including any deposit paid; and - (i) the property condition under section 241 applies; and - (ii) AFAD is not imposed on the agreement under subsection (1) ; and - (iii) the principal is a foreign person.