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Legislation Amendment Act 2022 guide

A guide for property professionals on the State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022 and changes affecting duties.

Chapters

1. Overview

Overview of the State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022.
2. Change in beneficial ownership

Duty on transactions that result in a change of beneficial ownership.
3. Change in beneficial ownership regulation

Regulatory exclusions and duty liability for changes in beneficial ownership under the Duties Regulation 2022.
4. Grant of an option

Duty implications for the grant of an option following the introduction of section 8(1)(b)(ix) of the Duties Act 1997.
5. Acknowledgement of trust

Key changes to transactions involving an acknowledgement of trust.
6. Off the plan transactions

Changes to the deferral of duty for off the plan purchases for defence force personnel.
7. Breakup of marriages and de facto relationships

Key changes to the exemption from duty due to the break-up of de facto relationships.
8. Transfer of business property between family members

Changes to the transfer of certain business property between family members.
9. Australian-based developers

Australian-based developers may apply for a refund or reassessment of surcharge purchaser duty.
10. Tax avoidance schemes

Tax avoidance schemes will be administered under the Taxation Administration Act 1996.
11. Taxation Administration Act 1996

Summary of other changes to the Taxation Administration Act 1996.
12. Surcharge land tax

Changes to surcharge land tax including the principal place of residence exemption.
13. First Home Owner Grant

Update to the eligibility cap for the First Home Owner Grant (FHOG).
14. Other legislative changes

Other amendments in the Legislation Amendment Act 2022.
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1. Overview