Part 4AAbolition of various duties

Part 4A—Abolition of various duties Division 3—Abolition of duty on conveyance or transfer of property other than land 104B—Application of Division (1) Subject to this section, this Division applies to all property other than land. (3) Subsection (2) expires on 1 July 2018. 104C—Abolition of duty on conveyance or transfer of property other than land (1) No liability to duty arises in relation to a conveyance or transfer of property to which this Division applies executed on or after 1 July 2016. (2) Subsection (1) does not apply to a conveyance or transfer of property that arises from a contract of sale or other transaction entered into before 1 July 2016 (and the duty chargeable in relation to such a conveyance or transfer will be calculated, subject to section 104EA, according to the rates in force as at the date on which the contract of sale or other transaction was entered into as if the conveyance or transfer had been executed on that date). 104D—Relevant rates Despite section 16, the duty chargeable in relation to a conveyance, transfer of property or instrument to which this Division applies executed before 1 July 2016 but produced to the Commissioner for the purposes of being stamped on or after that date will, subject to section 104EA, be calculated according to the rates in force as at the date on which the conveyance or transfer was executed. 104E—Non-derogation provision (1) Nothing in this Division affects the operation of Part 3 Division 4. (2) Nothing in this Division affects the operation of Part 4. 104EA—Application of Division as in force before 1 July 2016 This Division as in force immediately before 1 July 2016 continues to apply in relation to a conveyance or transfer of property executed on or after 18 June 2015 and before 1 July 2016. Division 6—Abolition of duty on designated real property transfers 105A—Abolition of duty on designated real property transfers qualifying land means land that is being used for any purpose other than— (a) land that is taken to be used for residential purposes in accordance with subsection (2)(a), other than land of a classification excluded by the regulations; or (b) land that is taken to be used for primary production in accordance with subsection (2)(b), other than land of a classification excluded by the regulations. (2) For the purposes of the definition of qualifying land— (a) land will be taken to be used for residential purposes if— (i) the Commissioner, after taking into account information provided by the Valuer‑General, determines that it is being predominantly used for that purpose; or (ii) the Commissioner, after taking into account information provided by the Valuer‑General, determines that although the land is not being used for any particular purpose at the relevant time the land should be taken to be used for residential purposes due to improvements that are residential in character having been made to the land; or (iii) the Commissioner, after taking into account information provided by the Valuer‑General, determines that the land is vacant, or vacant with only minor improvements, that the land is within a zone established by a Development Plan under the Development Act 1993 that envisages the use, or potential use, of the land as residential, and that the land should be taken to be used for residential purposes due to that zoning (subject to the qualification that if the zoning of the land indicates that the land could, in a manner consistent with the Development Plan, be used for some other purpose (other than for primary production) then the vacant land will not be taken to be used for residential purposes); and (b) land will be taken to be used for primary production if— (i) the Commissioner, after taking into account information provided by the Valuer‑General, determines that it is being predominantly used for primary production purposes; or (ii) the Commissioner, after taking into account information provided by the Valuer‑General, determines that although the land is not being used at the relevant time the land should be taken to be used for primary production purposes due to a classification that has been assigned to the land by the Valuer‑General. (3) Subject to subsection (4), this section applies to the conveyance or transfer of an interest in qualifying land executed on or after 1 July 2018. (4) This section does not apply to a conveyance or transfer of an interest that arises from a contract of sale or other transaction entered into before 1 July 2018 (and the duty chargeable in relation to such a conveyance or transfer will be calculated according to the rates in force as at the date on which the contract of sale or other transaction was entered into as if the conveyance or transfer had been executed on that date and, if relevant, according to the provisions of section 71DC). (5) No liability to duty arises in relation to a conveyance or transfer of property to which this section applies (to the extent to which it provides for the conveyance or transfer of an interest in qualifying land). (6) Despite section 16, the duty chargeable in relation to a conveyance or transfer to which this section applies executed before 1 July 2018 but produced to the Commissioner for the purposes of being stamped on or after that date will be calculated according to the rates in force as at the date on which the conveyance or transfer was executed (and, if relevant, according to the provisions of section 71DC).