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Sections: s50A

Lodgement category: ELM

Circumstances/Transactions:

No duty is chargeable on a transfer of land that results from the conversion of a land use entitlement to an estate in fee simple in a lot on a registered plan of subdivision.

NOTE: The section 50A exemption cannot apply if the land use entitlement was acquired when no ad valorem duty was chargeable on the transfer of marketable securities or land use entitlements, that is, 1st July 2002 to 16th June 2004, unless the transfer would have been exempt from duty pursuant to either section 34, 36, 42 or 44. If sections 34, 36, 42 or 44 would have applied during this period, evidence to support the claim must be produced

Evidence:

The following documents need to be submitted in making an application for an exemption under section 50A of the Act:

  1. Digital duties form (for all contracts or agreements entered into on or after 1 July 2017)
  2. A copy of the stamped Form 50 land use entitlement acquisition statement or the original share/unit transfer instrument evidencing the acquisition of the land use entitlement
  3. A copy of the contract(s) for the sale of the land use entitlement
  4. A copy of the new plan of subdivision identifying the lot being transferred
  5. A statutory declaration by the transferor stating:
    1. That the transfer is as a result of the conversion of a land use entitlement to strata title,
    2. The date that the transferee became an owner of the land use entitlement,
    3. The date of registration of the new plan of subdivision (unless evident on copy of the new plan of subdivision provided),
    4. That the transfer is part of an arrangement under which the transferee will take an interest in the lot similar in effect to, and in substitution for, the land use entitlement held by the transferee immediately before the registration of the plan, and
    5. That ad valorem duty was paid when the transferee became the owner of the land use entitlement, or
    6. That the transfer of marketable securities was exempt pursuant to either section 34, 36, 42 or 44 (evidence to support this claim must be provided).