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Part 2 Amendment of Duties Act 2001
all the transferees, all the lessees or all the vested
persons
15 Replacement of s 93A (Concession—mixed and multiple
claims for individuals—vacant land)
Section 93A—
omit, insert—
93A Concession—mixed and multiple claims for
individuals—first home and new home
(1) This section applies if—
(a) a dutiable transaction is 1 of the following
(each a relevant transaction)—
(i) the transfer, or agreement for the
transfer, of residential land;
(ii) the acquisition, mentioned in section
85(b), of a lease of residential land;
(iii) the vesting, mentioned in section 85(c),
of residential land; and
(b) there is more than 1 transferee or lessee of,
or vested person for, the residential land to
which the transaction relates; and
(c) the residence is a new home; and
(d) the residence is—
(i) the first home of 1 or more of the
transferees, 1 or more of the lessees or
1 or more of the vested persons and the
home of each other transferee, each
other lessee or each other vested
person; or
(ii) the first home of 1 or more of the
transferees, 1 or more of the lessees or
1 or more of the vested persons and not
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Authorised by the Parliamentary Counsel
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Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
the home of all the transferees, all the
lessees or all the vested persons; and
(e) the relevant persons are individuals.
(2) Also, this section applies if—
(a) a dutiable transaction is a relevant
transaction in relation to residential land on
which more than 1 residence is constructed;
and
(b) 1 or more of the residences is, for 1 or more
of the transferees, 1 or more of the lessees or
1 or more of the vested persons, a first home
and a new home; and
(c) the relevant persons are individuals.
(3) In addition, this section applies if a dutiable
transaction is a relevant transaction in relation to
a part interest in residential land that, if it were in
relation to the whole interest in the land, would be
a dutiable transaction to which this section applies
under subsection (1) or (2), other than the
requirement for more than 1 transferee, lessee or
vested person for the land.
(4) A transferee, lessee or vested person for
residential land mentioned in subsection (1) or (2)
is a relevant person if the residence is the home or
first home of the transferee, lessee or vested
person.
(5) For subsections (1)(d) and (2)(b), a residence may
be treated as the first home of a relevant person
only if the relevant person is at least 18 years of
age on the day the liability for transfer duty arises.
(6) The commissioner may exempt a relevant person
from the requirement that the relevant person be
at least 18 years of age if the commissioner is
satisfied there is no avoidance scheme in relation
to the dutiable transaction.
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Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
(7) The transfer duty imposed on a dutiable
transaction to which this section applies under
subsection (1)(d)(i) or (2) is the total of—
(a) for each relevant person, the amount worked
out by applying the person’s interest to the
concessional duty; and
(b) the amount worked out by deducting, from
transfer duty on the dutiable value of the
transaction, the amount worked out by
applying the relevant rate to the lesser of the
following amounts (the relevant amount)—
(i) the total of the value of each relevant
person’s interest;
(ii) $350,000.
(8) The transfer duty imposed on a dutiable
transaction to which this section applies under
subsection (1)(d)(ii) or (3) is the total of—
(a) for each relevant person, the amount worked
out by applying the person’s interest to the
concessional duty; and
(b) the amount worked out by deducting, from
transfer duty on the dutiable value of the
transaction, the amount worked out by
applying the relevant rate to the lesser of the
following amounts (also the relevant
amount)—
(i) the total of the value of each relevant
person’s interest;
(ii) the total of the relevant persons’
interests multiplied by $350,000.
(9) For subsections (7) and (8)—
(a) the concessional duty is the transfer duty
that—
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Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
(i) if section 91 were to apply to the
dutiable transaction—would be equal
to the amount worked out under section
91(3)(a) or the amount stated in section
91(5)(a); or
(ii) if section 92 were to apply to the
dutiable transaction—would be equal
to the amount worked out under section
91(3)(a) or the amount stated in section
91(5)(a) less the amount of the
deduction under section 92(2); or
(iii) if section 92A were to apply to the
dutiable transaction—would be equal
to the amount worked out under section
91(3)(a) or the amount stated in section
91(5)(a) less the amount of transfer
duty otherwise payable under section
91; and
(b) a relevant person’s interest is the proportion
that the share of the person in the whole
dutiable property bears to the total of the
shares of—
(i) for a dutiable transaction to which this
section applies under subsection
(3)—all the co-owners, or the owner,
on completion of the transaction; or
(ii) for another dutiable transaction—all
the transferees or all the lessees or all
the vested persons; and
(c) the value of a relevant person’s interest is
worked out by applying the person’s interest
to the dutiable value of the residential land;
and
(d) the relevant rate is the rate of transfer duty
stated in schedule 3, column 2, opposite the
part of the dutiable value of the dutiable
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Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
transaction attributable to the relevant
amount as stated in schedule 3, column 1.
(10) For working out the concessional duty under
subsection (9)(a) for a relevant person to whom
this section applies under subsection (2), the
residential land mentioned in section 91 and
schedule 4A is the part of the residential land
relating to the person’s home or first home.
(11) For a relevant person to whom this section applies
under subsection (2), the residential land
mentioned in subsection (9)(c) is the part of the
residential land relating to the person’s home or
first home.
93B Concession—mixed and multiple claims for
individuals—first home—vacant land
(1) This section applies if—
(a) a dutiable transaction is 1 of the following
(each a relevant transaction)—
(i) the transfer, or agreement for the
transfer, of vacant land;
(ii) the acquisition, mentioned in section
85(b), of a lease of vacant land;
(iii) the vesting, mentioned in section 85(c),
of vacant land; and
(b) there is more than 1 transferee or lessee of,
or vested person for, the vacant land to
which the transaction relates; and
(c) the residence, when constructed, will be the
first home of 1 or more of the transferees, 1
or more of the lessees or 1 or more of the
vested persons (each relevant persons) but
not all the transferees, all the lessees or all
the vested persons; and
(d) the relevant persons are individuals.
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Authorised by the Parliamentary Counsel
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Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
(2) In addition, this section applies if a dutiable
transaction is a relevant transaction in relation to
a part interest in vacant land that, if it were in
relation to the whole interest in the land, would be
a dutiable transaction to which this section applies
under subsection (1), other than the requirement
for more than 1 transferee, lessee or vested person
for the land.
(3) For subsection (1)(c), a residence may be treated
as the first home of a relevant person only if the
relevant person is at least 18 years of age on the
day the liability for transfer duty arises.
(4) The commissioner may exempt a relevant person
from the requirement that the relevant person be
at least 18 years of age if the commissioner is
satisfied there is no avoidance scheme in relation
to the dutiable transaction.
(5) The transfer duty imposed on a dutiable
transaction to which this section applies under
subsection (1) is the amount worked out by
deducting, from transfer duty on the dutiable
value of the transaction, the total amount worked
out by, for each relevant person, applying the
relevant person’s interest to transfer duty on the
dutiable value of the residential vacant land.
(6) The transfer duty imposed on a dutiable
transaction to which this section applies under
subsection (2) is the amount worked out by
deducting, from transfer duty on the dutiable
value of the transaction, the amount worked out
by applying the relevant rate to the relevant
person’s interest in the dutiable value of the
residential vacant land.
(7) For subsections (5) and (6)—
(a) a relevant person’s interest is the proportion
that the share of the person in the whole
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Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
dutiable property bears to the total of the
shares of—
(i) for a dutiable transaction to which this
section applies under subsection
(1)—all the transferees, all the lessees
or all the vested persons; or
(ii) for a dutiable transaction to which this
section applies under subsection
(2)—all the co-owners, or the owner,
on completion of the transaction; and
(b) the relevant rate is the rate of transfer duty
stated in schedule 3, column 2 opposite the
dutiable value of the dutiable transaction
attributable to the relevant person’s interest
in the residential vacant land as stated in
schedule 3, column 1.
16 Amendment of s 94 (Concession—mixed and multiple
claims for trustees—residential land)
(1) Section 94(2), ‘Section 93 applies’—
omit, insert—
Sections 93 and 93A apply
(2) Section 94(3), ‘section 93(4) and (5)’—
omit, insert—
sections 93(4) and (5) and 93A(5) and (6) apply
17 Amendment of s 94A (Concession—mixed and multiple
claims for trustees—vacant land)
(1) Section 94A(2), ‘Section 93A’—
omit, insert—
Section 93B
(2) Section 94A(3), ‘section 93A(3) and (4)’—
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Clause 25
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Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
omit, insert—
section 93B(3) and (4)
18 Amendment of s 153 (Reassessment—disposal after
occupation date for residence)
(1) Section 153(1)(a), ‘93 or 93A’—
omit, insert—
92A, 92B, 93, 93A or 93B
(2) Section 153(1)(b)(iii), ‘or first home’—
omit, insert—
, first home or first home and new home
19 Amendment of s 154 (Reassessment—noncompliance
with occupancy requirements)
(1) Section 154(1)(a), ‘93 or 93A’—
omit, insert—
92A, 92B, 93, 93A or 93B
(2) Section 154(5), definition home or vacant land lease,
paragraph (a), ‘or first home’—
omit, insert—
, first home or first home and new home
20 Insertion of new s 154A
After section 154—
insert—
154A Reassessment—decrease in dutiable value
of residential vacant land
(1) This section applies if—
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Authorised by the Parliamentary Counsel
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Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
(a) transfer duty on a dutiable transaction that is
1 of the following is assessed on the basis of
a concession under section 92B or 93B—
(i) the transfer, or agreement for the
transfer, of vacant land;
(ii) the acquisition, mentioned in section
85(b), of a lease of vacant land;
(iii) the vesting, mentioned in section 85(c),
of vacant land; and
(b) when the residence is constructed—
(i) for transfer duty assessed on the basis
that all of the vacant land is residential
vacant land—only part of the vacant
land is residential land; or
(ii) for transfer duty assessed on the basis
that part of the vacant land is
residential vacant land—the part of the
vacant land that is residential land is
different to the part of the vacant land
on which the transfer duty was
assessed; and
(c) the amount of transfer duty that would have
been imposed on the transaction if the
residential land had been used for assessing
the concession is more than the amount of
transfer duty assessed on the transaction.
(2) The commissioner must make a reassessment to
impose transfer duty on the dutiable transaction
on the basis that a reference in section 92B or 93B
to residential vacant land were a reference to the
residential land.
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Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
21 Amendment of s 155 (When transferees, lessees and
vested persons for land must give notice for
reassessment)
(1) Section 155(1), ‘93 or 93A’—
omit, insert—
92A, 92B, 93, 93A or 93B
(2) Section 155(2), ‘each transferee, lessee or vested person’—
omit, insert—
the notifier
(3) Section 155(3), definition notifiable event—
insert—
(d) a transferee, lessee or vested person for the
vacant land in relation to a relevant
transaction becomes aware, or ought
reasonably to be aware, of the matters
mentioned in section 154A(1)(b) and (c) for
the vacant land in relation to the transaction.
(4) Section 155(3)—
insert—
notifier, for residential land or vacant land in
relation to a relevant transaction, means—
(a) for a notifiable event mentioned in the
definition notifiable event, paragraph
(d)—the transferee, lessee or vested person
mentioned in the paragraph; or
(b) for another notifiable event—each
transferee, lessee or vested person for the
land in relation to the relevant transaction.
22 Insertion of new s 687
After section 686, as inserted by this Act—
insert—
Clause 1
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Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
687 Application of concession provisions to
transactions
(1) The former concession provisions apply in
relation to a dutiable transaction if liability for
transfer duty arose before 1 May 2025.
(2) Subject to subsection (3), the new concession
provisions apply in relation to a dutiable
transaction if liability for transfer duty arises on or
after 1 May 2025.
(3) Despite the Revenue Legislation Amendment Act
2024, the former concession provisions apply in
relation to a dutiable transaction if—
(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 1 May 2025; 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 1 May
2025;
(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 1
May 2025 and exercised on or after 1
May 2025;
(iii) another arrangement was made before
1 May 2025 the sole or main purpose
of which was to defer the making of the
transfer or agreement until 1 May 2025
or later so the new concession
provisions would apply in relation to
the transaction.
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Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
(4) In this section—
former concession provisions means chapter 2,
parts 9 and 14, division 1 and schedules 4A and
4B as in force from time to time before the
commencement.
new concession provisions means chapter 2, parts
9 and 14, division 1 and schedule 4A as in force
from the commencement.
23 Amendment of sch 3 (Rates of duty on dutiable
transactions and relevant acquisitions for landholder and
corporate trustee duty)
Schedule 3, authorising provision, ‘92, 93’—
omit, insert—
92A, 92B, 93, 93A, 93B
24 Amendment of sch 4A (Amount of concession for
transfer duty—first home—residential land)
(1) Schedule 4A, heading, after ‘first home’—
insert—
other than new home
(2) Schedule 4A, authorising provision, ‘sections 92(2)(a)’—
omit, insert—
sections 92(2)
(3) Schedule 4A, ‘chapter 2, part 9, division 3’—
omit, insert—
section 91
(4) Schedule 4A, ‘that division’—
omit, insert—
that section
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