115HF
In forceExemption—ch 3 transactions made by apparent purchaser
Chapter 3Certain transactions treated as transfers
Part 3.6Voluntary transfers under Financial Sector (Transfer and Restructure) Act 1999 (Cwlth)
Division 3.7.1Exemptions—ch 3 transactions generally
115HF Exemption—ch 3 transactions made by apparent purchaser
(1)
The commissioner must exempt a chapter 3 transaction from duty if satisfied that—
(a)
a chapter 3 property is transferred as part of the transaction from an apparent purchaser to the real purchaser; and
(b)
the property is vested in the apparent purchaser on trust for the real purchaser; and
(c)
the real purchaser provided the money for the purchase of the property.
(2)
In this section:
purchase includes allotment.
This Act’s bill:Explanatory statementSecond reading speech
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