sec.567Application of amendments about concession for transfer duty for home

### sec.567 Application of amendments about concession for transfer duty for home Chapter 2, part 9, division 3 as in force on 1 July 2006 applies to dutiable transactions if liability for transfer duty arises on or after 1 July 2006. However, the division as in force immediately before 1 July 2006 applies to a dutiable transaction that is the transfer, or agreement for the transfer, of residential land made on or after 1 July 2006 if— the transfer or agreement replaces a transfer, or an agreement for the transfer, that included the residential land and was made before 1 July 2006; or the transferee had an option to purchase the residential land, or the transferor had an option to require the transferee to purchase the residential land, granted before 1 July 2006 and exercised on or after 1 July 2006; or another arrangement was made before 1 July 2006 the sole or main purpose of which was to defer the making of the transfer or agreement until 1 July 2006 or later so the concession for transfer duty under the division, as in force on or after 1 July 2006, would apply in relation to the dutiable transaction. s 567 ins 2005 No. 60 s 17 (sec.567-ssec.1) Chapter 2, part 9, division 3 as in force on 1 July 2006 applies to dutiable transactions if liability for transfer duty arises on or after 1 July 2006. (sec.567-ssec.2) However, the division as in force immediately before 1 July 2006 applies to a dutiable transaction that is the transfer, or agreement for the transfer, of residential land made on or after 1 July 2006 if— the transfer or agreement replaces a transfer, or an agreement for the transfer, that included the residential land and was made before 1 July 2006; or the transferee had an option to purchase the residential land, or the transferor had an option to require the transferee to purchase the residential land, granted before 1 July 2006 and exercised on or after 1 July 2006; or another arrangement was made before 1 July 2006 the sole or main purpose of which was to defer the making of the transfer or agreement until 1 July 2006 or later so the concession for transfer duty under the division, as in force on or after 1 July 2006, would apply in relation to the dutiable transaction. - (a) the transfer or agreement replaces a transfer, or an agreement for the transfer, that included the residential land and was made before 1 July 2006; or - (b) the transferee had an option to purchase the residential land, or the transferor had an option to require the transferee to purchase the residential land, granted before 1 July 2006 and exercised on or after 1 July 2006; or - (c) another arrangement was made before 1 July 2006 the sole or main purpose of which was to defer the making of the transfer or agreement until 1 July 2006 or later so the concession for transfer duty under the division, as in force on or after 1 July 2006, would apply in relation to the dutiable transaction.