Duties Act 1997

An Australian corporation that is the transferee under a transfer of residential-related property is entitled to a refund of surcharge purchaser duty paid by the transferee that is chargeable on the transfer if the Chief Commissioner is satisfied that—

a new home has been constructed on the relevant land by the transferee or a related body corporate after completion of the transfer to the transferee and then sold by the transferee to a person who is not an associated person of the transferee without the home having been used or occupied for any purpose (other than as a display home) before the completion of that sale, or

the relevant land has been subdivided by the transferee for the purpose of its use for new home construction and then sold by the transferee after the issue of a subdivision certificate (as referred to in the Environmental Planning and Assessment Act 1979, section 6.4) for the subdivision, or

the land has been used by the transferee or a related body corporate, after completion of the transfer, wholly or predominantly for commercial or industrial purposes.

A refund must not be given unless the eligible transferee applies for the refund—

within 12 months after the entitling event, and

no later than 10 years after completion of the transfer of the residential-related property to the Australian corporation.

In this section—

for a refund under subsection (1)(a)—the completion of the sale of the new home, or

for a refund under subsection (1)(b)—the issue of the subdivision certificate, or

for a refund under subsection (1)(c)—the start of the use of the land wholly or predominantly for commercial or industrial purposes.

(Repealed)

(Renumbered as sec 104ZJA(2)

(Repealed)

(Renumbered as sec 104ZJA(3)