New South Wales Consolidated Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[Help]
DUTIES ACT 1997 - SECT 74
Eligible agreements or transfers
74 Eligible agreements or transfers
(1) The agreement or transfer must be for the acquisition of a first home or
for the acquisition of a vacant block of residential land intended to be used
as the site of a first home.
(2) The agreement or transfer must be for the
whole of the property.
(3) The dutiable value of the dutiable property that
is the subject of the agreement or transfer must be less than-- (a) $1,000,000
if the property has a private dwelling built on it, or
(b) $450,000 if the
property comprises a vacant block of residential land.
Note : The
"dutiable value" of dutiable property is the greater of-- (a) the
consideration (if any) for the dutiable transaction (being the amount of a
monetary consideration or the value of a non-monetary consideration), and
(b)
the unencumbered value of the dutiable property.
(4) Despite subsection (3),
in relation to an agreement for sale or transfer or a transfer entered into
during the period beginning on 1 August 2020 and ending on 31 July 2021 (other
than a transfer made in conformity with an agreement for sale or transfer
entered into before 1 August 2020), the dutiable value of the
dutiable property that is the subject of the agreement or transfer must be
less than-- (a) $1,000,000 if the property has a private dwelling that is a
new home built on it, or
(b) $800,000 if the property has a private dwelling
that is not a new home built on it, or
(c) $500,000 if the property comprises
a vacant block of residential land.
(5) In this section,
"new home" has the same meaning as in section 4A of the First Home Owner Grant
(New Homes) Act 2000 .
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback