sec.245BApplication of part

### sec.245B Application of part This part applies in relation to a relevant transaction that— is the transfer, or agreement for the transfer, of dutiable property that is AFAD residential land; and is entered into on or after 1 July 2023. However, this part does not apply in relation to a relevant transaction mentioned in subsection (1) if— the transfer or agreement replaces a transfer, or an agreement for transfer, that— included the dutiable property; and was made before 1 July 2023; or the transferee had an option to purchase the dutiable property, or the transferor had an option to require the transferee to purchase the dutiable property, that was granted before 1 July 2023 and exercised on or after 1 July 2023; or another arrangement was made before 1 July 2023 the sole or main purpose of which was to defer the making of the transfer or agreement until 1 July 2023 or later so a concession under this part would apply in relation to the relevant transaction. s 245B ins 2023 No. 18 s 4 (sec.245B-ssec.1) This part applies in relation to a relevant transaction that— is the transfer, or agreement for the transfer, of dutiable property that is AFAD residential land; and is entered into on or after 1 July 2023. (sec.245B-ssec.2) However, this part does not apply in relation to a relevant transaction mentioned in subsection (1) if— the transfer or agreement replaces a transfer, or an agreement for transfer, that— included the dutiable property; and was made before 1 July 2023; or the transferee had an option to purchase the dutiable property, or the transferor had an option to require the transferee to purchase the dutiable property, that was granted before 1 July 2023 and exercised on or after 1 July 2023; or another arrangement was made before 1 July 2023 the sole or main purpose of which was to defer the making of the transfer or agreement until 1 July 2023 or later so a concession under this part would apply in relation to the relevant transaction. - (a) is the transfer, or agreement for the transfer, of dutiable property that is AFAD residential land; and - (b) is entered into on or after 1 July 2023. - (a) the transfer or agreement replaces a transfer, or an agreement for transfer, that— (i) included the dutiable property; and (ii) was made before 1 July 2023; or - (i) included the dutiable property; and - (ii) was made before 1 July 2023; or - (b) the transferee had an option to purchase the dutiable property, or the transferor had an option to require the transferee to purchase the dutiable property, that was granted before 1 July 2023 and exercised on or after 1 July 2023; or - (c) another arrangement was made before 1 July 2023 the sole or main purpose of which was to defer the making of the transfer or agreement until 1 July 2023 or later so a concession under this part would apply in relation to the relevant transaction. - (i) included the dutiable property; and - (ii) was made before 1 July 2023; or