Duties Act 1997

The Chief Commissioner may, by written notice (a revocation notice) to an exempt transferee, revoke the exempt transferee’s approval.

A revocation notice must specify—

the date on which the notice is issued (the issue date), and

the date on which the exempt transferee approval is, or is taken to have been, revoked (the revocation date).

For subsection (2)(b), a revocation notice may specify a date earlier than the issue date as the date on which the exempt transferee approval is taken to have been revoked.

Without limiting subsection (1), an exempt transferee approval relating to a transfer under section 104ZJB or 104ZJC is revoked if the relevant land is subdivided, or the ownership of the relevant land is otherwise divided, within 15 years after a build-to-rent land tax concession first applies to the relevant land.

Despite any relevant section, surcharge purchaser duty is payable on a transfer for which liability for the duty would have arisen but for an exempt transferee approval relating to the transfer if—

the exempt transferee approval is revoked after the transfer, and

either of the following apply—

the revocation occurred under subsection (4),

the revocation date is on or before the transfer.

Surcharge purchaser duty payable in the circumstances under subsection (5) must be assessed or reassessed as if—

the exempt transferee approval had never applied to the transfer, and

liability for the duty arose on—

for a revocation under subsection (4)—the day on which the relevant land was subdivided or the ownership of the relevant land was otherwise divided, or

otherwise—on the issue date.

In this section—