First home buyer exemption or concession on PPR transfers
57JA First home buyer exemption or concession on PPR transfers
A transferee is entitled to an exemption from duty under this Chapter in respect of a PPR transfer if—
S. 57JA(1)(a) substituted by No. 50/2024 s. 18(2).
the requirements specified in section 57JB are satisfied at the time of the transfer; and
the dutiable value of the dutiable property the subject of the PPR transfer is not more than $600 000.
A transferee is entitled to a concession from duty under this Chapter in respect of a PPR transfer if—
S. 57JA(2)(a) substituted by No. 50/2024 s. 18(3).
the requirements specified in section 57JB are satisfied at the time of the transfer; and
the dutiable value of the dutiable property the subject of the PPR transfer is more than $600 000 but not more than $750 000.
S. 57JA(3) amended by No. 67/2017 s. 6.
For the purposes of subsection (2), the concessional amount of duty payable is an amount calculated in accordance with the formula—
where—
A is the dutiable value of the property;
B is the amount of duty paid or payable (but for this section) on the PPR transfer.
S. 57JB inserted by No. 28/2017 s. 11, amended by No. 47/2020 s. 9(2) (ILA s. 39B(1)).
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