Listen

Chapters

  1. Overview
  2. Change in beneficial ownership of dutiable property
  3. Change in beneficial ownership of dutiable property - Regulation
  4. Change in beneficial ownership - Grant of an Option
  5. Acknowledgement of trust
  6. Off the plan transactions
  7. Breakup of marriages and de facto relationships
  8. Transfer of certain business property between family members
  9. Surcharge purchaser duty Australian-based developer
  10. Tax avoidance schemes
  11. Other changes to the Taxation Administration Act 1996
  12. Land Tax
  13. First Home Owner Grant
  14. Other legislative changes

14. Other legislative changes

First Home Buyers Assistance Scheme

Section 76(2) of the Duties Act 1997

Amongst other criteria, a first home buyer must meet the residence requirement to receive an exemption from transfer duty under the First Home Buyers Assistance scheme. That is, the home must be occupied by the first home owner as their principal place of residence for a continuous period of at least 6 months, within 12 months after completion of the agreement or transfer.

Amendments to section 76(2) of the Duties Act 1997 clarifies that the Chief Commissioner of State Revenue may provide an exemption from or approval to modify the residence requirement under the First Home Buyers Assistance Scheme.

Section 26 transactions concerning goods

Section 26(2) of the Duties Act 1997 has been removed as a consequence of the abolition of duty on transfers of business assets including goodwill on 1 July 2016.

Motor vehicles

Section 267(6A) of the Duties Act 1997

Vehicles transferred by certain court orders—parties to a de facto relationship under section 267(6A) of the Duties Act 1997 now includes:

  • (c) an agreement that the Chief Commissioner is satisfied has been made for the purpose of dividing relationship property as a consequence of the breakdown of the relationship.