Definitions
32A Definitions
In this Part—
associate of a person means—
an associated person of that person; or
a person acting in concert with that person;
consideration means the amount of a monetary consideration or the value of a non-monetary consideration;
S. 32A(1) def. of excluded costs inserted by No. 84/2008 s. 3(1).
excluded costs means—
legal costs or other fees or charges, including reasonable selling agents' fees and any statutory fees or charges;
survey or valuation payments;
GST other than in circumstances where an input tax credit or reduced input tax credit is available;
any other costs that, in the Commissioner's opinion, were reasonably incurred—
if the subsequent purchaser obtained the transfer right from the first purchaser—by the first purchaser as part of the sale contract;
if the subsequent purchaser obtained the transfer right from another subsequent purchaser—by that other subsequent purchaser or an associate of that other subsequent purchaser in order for that other subsequent purchaser to obtain a transfer right;
S. 32A(1) def. of first purchaser inserted by No. 84/2008 s. 3(1), amended by No. 28/2017 s. 23(1)(a).
first purchaser—
for the purposes of Division 2, has the meaning given in section 32B(1)(a);
for the purposes of Division 3, has the meaning given in section 32I(1)(a);
for the purposes of Division 3A, has the meaning given in section 32O(1)(a);
for the purposes of Division 4, has the meaning given in section 32P(1)(a);
S. 32A(1) def. of land development repealed by No. 40/2016 s. 7.
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S. 32A(1) def. of option amended by No. 84/2008 s. 3(2).
option means—
a right, granted by an owner of property to another person, that entitles that other person, or a person to whom the right is assigned, to require the owner to—
enter into a contract of sale of the property to that other person or a subsequent assignee of that other person; or
transfer the property to that other person or a subsequent assignee of that other person; or
a right, granted to an owner of property by another person, that entitles the owner to require that other person, or a person approved by the owner and nominated by that other person, to—
enter into a contract to buy the property from the owner; or
accept a transfer of the property from the owner;
S. 32A(1) def. of specified Chapter 2 exemption inserted by No. 28/2017 s. 23(1)(b).
specified Chapter 2 exemption means an exemption under Chapter 2 other than the following—
an exemption under Division 1 or 2 of Part 5;
an exemption under section 43;
S. 32A(1) def. of subsequent purchaser inserted by No. 84/2008 s. 3(1), amended by No. 28/2017 s. 23(1)(c).
subsequent purchaser—
for the purposes of Division 2, has the meaning given in section 32B(1)(b);
for the purposes of Division 3, has the meaning given in section 32I(1)(b);
for the purposes of Division 3A, has the meaning given in section 32O(1)(b);
for the purposes of Division 4, has the meaning given in section 32P(1)(b);
S. 32A(1) def. of subsequent transaction inserted by No. 84/2008 s. 3(1), amended by No. 28/2017 s. 23(1)(d).
subsequent transaction—
for the purposes of Division 2, has the meaning given in section 32B(3);
for the purposes of Division 3, has the meaning given in section 32I(3);
for the purposes of Division 3A, has the meaning given in section 32O(3);
for the purposes of Division 4, has the meaning given in section 32P(3);
S. 32A(1) def. of transfer right inserted by No. 84/2008 s. 3(1), amended by No. 28/2017 s. 23(1)(e)(f).
transfer right—
for the purposes of Division 2, has the meaning given in section 32B(1)(b);
for the purposes of Division 3, has the meaning given in section 32I(1)(b);
for the purposes of Division 3A, has the meaning given in section 32O(4);
for the purposes of Division 4, has the meaning given in section 32P(4).
S. 32A(2) inserted by No. 84/2008 s. 3(3), repealed by No. 28/2017 s. 23(2).
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Division 2—Transfers involving additional consideration
S. 32B inserted by No. 36/2005 s. 10.
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