(1) The excluded provisions do not apply in relation to an acquisition of an interest in residential land by a foreign person if a subsection of this section applies in relation to the acquisition.
Acquisitions by persons with connection to Australia
(2) The foreign person meets any of the following conditions:
(a) the foreign person is, at the time of acquisition, the holder of a permanent visa (within the meaning of the Migration Act 1958 );
(b) the foreign person is, at the time of acquisition, the holder of a special category visa (within the meaning of that Act);
(c) if the foreign person had entered Australia lawfully immediately before the acquisition, he or she would have been entitled to the grant, on presentation of a passport, of a special category visa (within the meaning of that Act);
(d) the foreign person is an Australian corporation and would not be a foreign person if interests held directly in it by any one or more of the following persons were disregarded:
(i) a person to whom any of paragraphs (a), (b), (c) and (e) applies;
(ii) a person to whom any of paragraphs 35(1)(a) to (c) applies;
(iii) a person covered by a previous application of this paragraph;
(e) the foreign person is the trustee of a resident trust at the time of the acquisition, and would not be a foreign person if interests held directly in it by any one or more of the following persons were disregarded:
(i) a person to whom any of paragraphs (a) to (d) of this subsection applies;
(ii) a person to whom any of paragraphs 35(1)(a) to (c) applies;
(iii) a person covered by a previous application of this paragraph.
Acquisitions of interests in residential land by spouses and de facto partners of Australian citizens etc.
(3) Both of the following apply:
(a) the person is the spouse or de facto partner (within the meaning of the Acts Interpretation Act 1901 ) of:
(i) a person who is, at the time of acquisition, an Australian citizen; or
(ii) a person who is, at the time of acquisition, the holder of a permanent visa (within the meaning of the Migration Act 1958 ); or
(iii) a person who is, at the time of acquisition, the holder of a special category visa (within the meaning of that Act); or
(iv) a person who, if the person had entered Australia lawfully immediately before the acquisition, would have been entitled to the grant, on presentation of a passport, of a special category visa (within the meaning of that Act);
(b) the interest is held by the person and his or her spouse or partner as joint tenants.
Acquisitions of interests in residential timeshare schemes
(4) Both of the following apply:
(a) the acquisition is of an interest in a timeshare scheme that relates to residential land;
(b) the foreign person's total entitlement, alone or together with one or more associates, under the timeshare scheme to access the land is no more than 4 weeks in any year.