Transfer of deemed staged payment approvals
132 Transfer of deemed staged payment approvals
This section applies if a pre-scheme liable person given a deemed staged payment approval (the original holder) is, on the commencement day, not the owner of the land in relation to which the deemed staged payment approval relates.
The original holder may request, in writing, the Secretary to transfer the deemed staged payment approval to the owner of the land.
The Secretary must not transfer the deemed staged payment approval to the owner of the land without the written agreement of the owner.
If Secretary decides to transfer the deemed staged payment approval to the owner of the land, the Secretary must give the original holder and owner written notice of the transfer.
A notice under subsection (4) must specify the transfer date.
On the transfer date—
the liability to pay the levy is imposed on the owner of the land; and
the liability of the original holder to pay the levy is extinguished; and
the owner of the land is taken to have been given the deemed staged payment approval for the staged payment of the levy that the owner is liable to pay under paragraph (a); and
the conditions to which the deemed staged payment approval is taken to have been given under paragraph (c) continue to apply.
Note
The original holder is also eligible for the issue of a certificate of release to them—see section 103.
To avoid doubt, the deemed staged payment approval continues in effect despite the transfer.
The Secretary, on the application of the owner of the land, must give the owner a written notice that—
states that—
the deemed staged payment approval has been transferred, under subsection (6), to the owner on the transfer date; and
on that transfer date—
the deemed staged payment approval is taken to have been given to the owner; and
the owner is a liable person; and
describes the whole of the land in respect of which the levy is imposed; and
contains the name and contact details of the owner; and
sets out the conditions to which the staged payment approval is subject; and
contains any other information that the Secretary considers appropriate.
Pt 9 (Headings and ss 133−147) repealed by No. 1/2020 s. 147.
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This Act’s bill:Explanatory memorandumSecond reading speech
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