Land sold initially to financial institution and then leased to natural person
Channel: SRO
Section: s57 C (1)(c) & (2)
Lodgement category: Unrelated transfers with concession
Circumstances/Transactions
At the same time as the first transaction the financial institution leases its interest in the land to the natural person for a fixed term in accordance with the lease agreement containing an option for the natural person to purchase the property (the second transaction).
The second transaction is exempt.
Evidence
- Digital Duties Form.
- The duly stamped transfer to the financial institution.
- The lease agreement containing the option for the natural person to purchase the property.
When to lodge
Lodge documents after settlement directly with the State Revenue Office.