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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

6. Off the plan transactions

Section 49A of the Duties Act 1997

To qualify for a 12 month deferral on payment of duty for off the plan purchases, all purchaser(s) or transferee(s) must meet the residence requirement. That is, at least one of the purchasers/transferee’s must use and occupy the property as their principal place of residence for a period of at least 6 months within 12 months of the completion of sale or transfer.

For transactions entered into on or after 19 May 2022, the Duties Act 1997 will exempt defence force personnel from the residence requirement where at least 1 of the purchasers or transferees is a member of the Permanent Forces of the Australian Defence Force and each of the purchasers or transferees is enrolled to vote in State elections under the Electoral Act 2017.

What are the evidentiary and identification requirements?

This information has been updated on our website and includes a link to the client identification requirements for this transaction type.

What forms do I need?

There have been minor changes to the Purchaser/Transferee Declaration form for an individual (ODA 076 I) in accordance with the State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022. Part 6 of this form specifically relates to off the plan purchases and provides for nomination of active Australian Defence Force personnel.

The updated forms must be used for transactions entered into on or after 19 May 2022.

How are these transactions processed?

The procedure for assessing off the plan transactions has not changed. EDR systems will now capture information regarding Australian Defence Force personnel when processing off the plan transactions.

Where can I find more information?