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DUTIES ACT 1997 - SECT 104O
Other transactions taken to be transfers
104O Other transactions taken to be transfers
(1) Sections 9A- 9C apply, subject to this section and to any other necessary
modifications, for the purpose of charging surcharge purchaser duty under this
Chapter.
(2) For that purpose-- (a) a change in partnership arrangements that
is of a kind referred to in section 9A is taken to be a transfer of a
partnership interest (within the meaning of this Chapter) if the partnership
has partnership property that is residential-related property, and
(b) a
transaction of a kind referred to in section 9B in respect of an option to
purchase residential land in New South Wales is taken to be a transfer of an
option to purchase residential land, and
(c) a transaction of a kind referred
to in section 9C that is a novation of an agreement for the lease of
residential land in New South Wales is taken to be a transfer of
residential-related property as if-- (i) the lessee's interest in the
agreement were residential-related property, and
(ii) the novation of the
agreement were a transfer of that residential-related property.
(3)
Surcharge purchaser duty is chargeable on any such transfer if any of the
persons taken to be transferees by section 9A, 9B or 9C (as the case may be)
are foreign persons.
(4) To avoid doubt-- (a) this section does not affect
liability for surcharge purchaser duty on a transfer of a partnership interest
that occurs otherwise than because of a change in partnership arrangements,
and
(b) a reference in this Act to a transfer of residential-related property
includes a reference to a transaction taken to be a transfer by this section,
and
(c) a reference in this Act to a surcharge duty transaction includes a
reference to a transaction chargeable with surcharge purchaser duty under this
section, and
(d) a reference in this Act to residential-related property
includes, in relation to a transfer that is taken to occur under subsection
(2) (c), a reference to a lessee's interest in an agreement for the lease of
residential land in New South Wales.
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