Duties Act evidentiary requirements: Section 9, 9A, 9B, 9C
View complete list of evidentiary requirements.
Relevant evidentiary requirements must be provided when lodgements are made for assessment of duty.
Section 9A
Transfer of partnership interest occurring on change in partnership arrangements
- Original executed instrument effecting the change in partnership arrangements (if dutiable transaction is not effected in writing, a completed Statement for Dutiable Transaction not Effected by a Written Instrument (OSD 046) statement should be lodged).
- Valuation of partnership interest and the latest balance sheet, notes and financial statement of the partnership.
- The dutiable value of the partnership interest as calculated using the formula pursuant to Section 29.
- Original executed Transfer of Land form if the property of a partnership includes a land-related asset and an interest in the land-related asset is transferred as a result of the transfer of the partnership interest.
Section 9B
Transfer of options occurring on nomination or other change & Exercise of Options over land
Documents:
- A copy of the complete Executed Call Option Deed and/or Executed Call Option and Put Option Deed including all annexures and attachments. For section 9B a copy of the complete Executed Call Option Deed and/or Executed Call Option and Put Option Deed if created on or after 23 October 2014.
- A copy of the Executed Deeds of Variation / Amendment to the Call and/or Put Option Deed (if any).
- A copy of the Executed Exercise Notice (Put Option and/or Call Option).
- A copy of the Executed Deed of Assignment / Deed of Nomination and/or Nomination Notice.
- A copy of the Executed documents in relation to the house and land package arrangement (if any).
- A copy of the Executed Deed in relation to the relinquishment of rights under the option.
- A copy of the Executed Contract for the Sale of Land.
- A copy of the Executed Transfer of Land or if electronic settlement, details of the Land Transfer and confirmation as to when the Transfer of Land was first digitally signed by a subscriber.
- A copy of the Executed Development Agreement (if any) - whether entered into as at the date of the Put and/or Call Option Deed, or entered into as at the date of the Nomination/Assignment Deed or entered into as at the date of the exercise of the option notice.
- Purchaser/Transferee Declaration and all supporting information.
Evidence:
- Confirm if the Call Option and/or Put Option was exercised within the call option and/or put option period.
- Confirm the date when the option was validly exercised in accordance with the relevant clause/s in the Option Deed/Variation Deed/Amendment Deed.
- Confirm if the Transfer of Land is in conformity with the Exercise Notice. If the Transfer of Land is not in conformity with the Exercise Notice provide a statutory declaration which sets out how the parties are ‘related persons’.
- Confirm if the arrangement is the subject of any house and land package arrangement?
- Confirm if any other instruments were executed as at the date of the Call and/or Put Option Deed, or as at the date of the transfer/assignment/nomination of the option, or as at the date of the Exercise Notice.
- Confirm all the consideration (monetary or non-monetary) paid for the transfer of the land and also all the consideration paid for the transfer of the option (if any).
- Confirm that the dutiable property that was agreed to be sold or transferred under the draft Contract in the Option Deed, is now the same dutiable property to which the Purchaser/Transferee is now receiving. If not, what has changed (e.g. rezoning, improvements on the land, development application was approved)?
Also refer to the Options page for further guidance and guidance on Chapter 3 ‘Certain transactions treated as transfers’
Note: All acquisitions arising from an arrangement involving a put option and/or a call option, must be lodged with Revenue NSW via the eDuties portal. Please allow enough time for your assessment to be finalised prior to settlement.
Section 9C
Novation of agreement for lease
- Original executed Deed or other instrument effecting the novation of an Agreement for Lease of Land (together with any executed duplicates).
- A copy of the executed Agreement for Lease of Land.