sec.571Application of amendments about concession for transfer duty for residential land or vacant land

### sec.571 Application of amendments about concession for transfer duty for residential land or vacant land The relevant provisions, as in force on 1 January 2007, apply to dutiable transactions only if liability for transfer duty arises on or after 1 January 2007. The relevant provisions, as in force immediately before 1 January 2007, apply to a dutiable transaction that is the transfer, or agreement for the transfer, of residential land or vacant land made on or after 1 January 2007 if— the transfer or agreement replaces a transfer, or an agreement for the transfer, that included the land and was made before 1 January 2007; or the transferee had an option to purchase the land, or the transferor had an option to require the transferee to purchase the land, granted before 1 January 2007 and exercised on or after 1 January 2007; or another arrangement was made before 1 January 2007 the sole or main purpose of which was to defer the making of the transfer or agreement until 1 January 2007 or later so the concession for transfer duty under the relevant provisions, as in force on or after 1 January 2007, would apply in relation to the dutiable transaction. In this section— relevant provisions means the following provisions— chapter 2, part 9, divisions 2 and 3 chapter 2, part 14, division 1 schedule 4A. s 571 ins 2006 No. 44 s 70 (sec.571-ssec.1) The relevant provisions, as in force on 1 January 2007, apply to dutiable transactions only if liability for transfer duty arises on or after 1 January 2007. (sec.571-ssec.2) The relevant provisions, as in force immediately before 1 January 2007, apply to a dutiable transaction that is the transfer, or agreement for the transfer, of residential land or vacant land made on or after 1 January 2007 if— the transfer or agreement replaces a transfer, or an agreement for the transfer, that included the land and was made before 1 January 2007; or the transferee had an option to purchase the land, or the transferor had an option to require the transferee to purchase the land, granted before 1 January 2007 and exercised on or after 1 January 2007; or another arrangement was made before 1 January 2007 the sole or main purpose of which was to defer the making of the transfer or agreement until 1 January 2007 or later so the concession for transfer duty under the relevant provisions, as in force on or after 1 January 2007, would apply in relation to the dutiable transaction. (sec.571-ssec.3) In this section— relevant provisions means the following provisions— chapter 2, part 9, divisions 2 and 3 chapter 2, part 14, division 1 schedule 4A. - (a) the transfer or agreement replaces a transfer, or an agreement for the transfer, that included the land and was made before 1 January 2007; or - (b) the transferee had an option to purchase the land, or the transferor had an option to require the transferee to purchase the land, granted before 1 January 2007 and exercised on or after 1 January 2007; or - (c) another arrangement was made before 1 January 2007 the sole or main purpose of which was to defer the making of the transfer or agreement until 1 January 2007 or later so the concession for transfer duty under the relevant provisions, as in force on or after 1 January 2007, would apply in relation to the dutiable transaction. - • chapter 2, part 9, divisions 2 and 3 - • chapter 2, part 14, division 1 - • schedule 4A.