Stamp Duties Act 1923

An instrument relates to property situated in a particular jurisdiction if it—

creates, transfers, redeems, renounces, surrenders, cancels or extinguishes an interest in property situated in the relevant jurisdiction;

deals with an interest in property situated in the relevant jurisdiction in any other way; or

acknowledges, evidences or records a transaction to which paragraph (a) or

refers.

A potential, contingent, expectant or other inchoate interest is to be regarded as an interest in property in a particular jurisdiction if the realisation of the potentiality, contingency or expectancy, or the occurrence of any act or event necessary to perfect the interest could result in—

an interest in property situated in that jurisdiction;

an interest in the proceeds of the sale of property situated in that jurisdiction.

For the purpose of calculating duty on an instrument that relates to a potential, contingent, expectant or other inchoate interest—

the interest is to be treated as an actual interest ie as if the potentiality, contingency or expectancy had been realised or anything necessary to perfect the interest had occurred; and

if the interest is dependent in any way on the exercise of a discretion or any other contingency, it will be presumed that the discretion has been exercised, or the contingency has been realised, so as to give rise to the greatest possible liability to duty in this State.

An interest in property is taken to be situated in the jurisdiction in which the property to which the interest relates is situated.