Duties Act 1997

If a surcharge duty transaction is effected by more than one instrument, one instrument is to be stamped with the surcharge purchaser duty payable on the surcharge duty transaction and each other instrument is not chargeable with surcharge purchaser duty.

Surcharge purchaser duty is not chargeable on a transfer of residential-related property made in conformity with an agreement for the sale or transfer of the residential-related property if—

surcharge purchaser duty has been paid on the agreement, and

no surcharge purchaser duty is chargeable under section 104Y on the transfer.

Surcharge purchaser duty is not chargeable on a transfer of residential-related property that is not made in conformity with an agreement for the sale or transfer of the residential-related property if—

surcharge purchaser duty has been paid on the agreement, and

no surcharge purchaser duty is chargeable under section 104Y on the transfer, and

the transfer would be in conformity with the agreement if the transferee was the purchaser under the agreement, and

the transfer occurs at the same time as, or proximately with, the completion or settlement of the agreement, and

at the time the agreement was entered into, and at the completion or settlement of the agreement—

the purchaser under the agreement and the transferee under the transfer are related persons, except as provided by subparagraph (ii), or

if the purchaser purchased as a trustee, the transferee and the beneficiary are related persons.

Surcharge purchaser duty is not chargeable on a transfer to a trustee of residential-related property subject to a declaration of trust if surcharge purchaser duty has been paid on the declaration of trust in respect of the same residential-related property.

Surcharge purchaser duty is not chargeable on a transfer of residential-related property as a consequence of a foreclosure order if surcharge purchaser duty has been paid on the foreclosure.

Surcharge purchaser duty is not chargeable on a declaration of trust that declares the same trusts as those upon and subject to which the same residential-related property was transferred to the person declaring the trust if surcharge purchaser duty has been paid on the transfer.

Surcharge purchaser duty is not chargeable on a declaration of trust if the Chief Commissioner is satisfied that—

the declaration of trust supersedes another declaration of trust in respect of which surcharge purchaser duty has been paid and declares the same trusts as were declared under the superseded declaration of trust, and

the beneficiary under the declaration of trust is the same as under the superseded declaration of trust, and

the residential-related property subject to the declaration of trust—

is wholly or substantially the same as the property that was the subject of the superseded declaration of trust at the time of the declaration of the superseded declaration of trust, or

represents the proceeds of re-investment of property that was the subject of the superseded declaration of trust at the time of the declaration of the superseded declaration of trust, or

is property to which both subparagraphs (i) and (ii) apply.

Despite subsection (1), if a single surcharge duty transaction is effected by more than one electronic registry instrument, it is sufficient that one of those instruments is duly stamped with the duty chargeable on the surcharge duty transaction.