Variation of residence requirement for section 43 exemption
43B Variation of residence requirement for section 43 exemption
If satisfied there is a good reason for doing so, the Commissioner may—
reduce the period of residence required by section 43A; or
determine that a temporary absence from residence does not break the continuity of residence for the purposes of section 43A; or
extend the period in which the residence required by section 43A must begin.
If the Commissioner determines that a temporary absence from residence does not break the continuity of residence, the person who received an exemption under section 43 is not entitled to an exemption under that section in respect of any other transfer during the period of temporary absence unless the person pays duty on the original transfer calculated at the rate set out in section 28(1), subject to any other exemption or concession.
If a person who is occupying land the subject of a transfer to which an exemption under section 43 applies as the person's principal place of residence, or is temporarily absent from the land in accordance with a determination under subsection (1), dies, the requirement under section 43A is taken to have been complied with for the transfer.
S. 43C inserted by No. 28/2017 s. 41.
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