sec.684Application of concession provisions to particular transactions

### sec.684 Application of concession provisions to particular transactions Despite the Revenue and Other Legislation Amendment Act 2024 , the former concession provisions apply in relation to a dutiable transaction if— the transaction is the transfer, or agreement for the transfer, of residential land or vacant land; and the land is transferred, or the agreement is made, on or after 9 June 2024; and any of the following applies— the transaction replaces a transfer, or agreement for transfer, that included the land and was made before 9 June 2024; 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 9 June 2024 and exercised on or after 9 June 2024; another arrangement was made before 9 June 2024 the sole or main purpose of which was to defer the making of the transfer or agreement until 9 June 2024 or later so the new concession provisions would apply in relation to the transaction. s 684 ins 2024 No. 35 s 5 (retro) - (a) the transaction is the transfer, or agreement for the transfer, of residential land or vacant land; and - (b) the land is transferred, or the agreement is made, on or after 9 June 2024; and - (c) any of the following applies— (i) the transaction replaces a transfer, or agreement for transfer, that included the land and was made before 9 June 2024; (ii) 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 9 June 2024 and exercised on or after 9 June 2024; (iii) another arrangement was made before 9 June 2024 the sole or main purpose of which was to defer the making of the transfer or agreement until 9 June 2024 or later so the new concession provisions would apply in relation to the transaction. - (i) the transaction replaces a transfer, or agreement for transfer, that included the land and was made before 9 June 2024; - (ii) 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 9 June 2024 and exercised on or after 9 June 2024; - (iii) another arrangement was made before 9 June 2024 the sole or main purpose of which was to defer the making of the transfer or agreement until 9 June 2024 or later so the new concession provisions would apply in relation to the transaction. - (i) the transaction replaces a transfer, or agreement for transfer, that included the land and was made before 9 June 2024; - (ii) 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 9 June 2024 and exercised on or after 9 June 2024; - (iii) another arrangement was made before 9 June 2024 the sole or main purpose of which was to defer the making of the transfer or agreement until 9 June 2024 or later so the new concession provisions would apply in relation to the transaction.