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This is a Bill, not an Act. For current law, see the Acts databases.
State Revenue Legislation Amendment
Bill 2009
No , 2009
A Bill for
An Act to amend certain State revenue legislation in connection with the Budget for
the year 2009-2010.
Clause 1 State Revenue Legislation Amendment Bill 2009
The Legislature of New South Wales enacts: 1
1 Name of Act 2
This Act is the State Revenue Legislation Amendment Act 2009. 3
2 Commencement 4
(1) This Act commences on the date of assent to this Act, except as 5
provided by subsection (2). 6
(2) Schedule 1 commences, or is taken to have commenced, on 1 July 2009. 7
Page 2
State Revenue Legislation Amendment Bill 2009
Amendment of Duties Act 1997 No 123 Schedule 1
Schedule 1 Amendment of Duties Act 1997 No 123 1
[1] Chapter 2, Part 8, Division 1A 2
Insert after Division 1: 3
Division 1A NSW Housing Construction Acceleration 4
Plan (Budget 2009-10) 5
87A Nature of the scheme 6
The scheme established by this Division is intended to provide a 7
reduction in duty in respect of the purchase or construction of 8
new homes by persons who are not eligible for an exemption or 9
reduction under the First Home Plus scheme in Division 1 or a 10
grant under the First Home Owner Grant Act 2000. 11
87B Relevant dates for eligibility 12
(1) The following agreements or transfers are eligible for 13
consideration under the scheme: 14
(a) agreements for sale or transfer of dutiable property entered 15
into on or after 1 July 2009 and before 1 January 2010, 16
(b) transfers of dutiable property that occur on or after 1 July 17
2009 and before 1 January 2010 (other than transfers made 18
in conformity with an agreement for sale or transfer 19
entered into before 1 July 2009). 20
(2) An agreement for the sale or transfer of dutiable property is not 21
eligible if: 22
(a) it replaces an agreement made before 1 July 2009, and 23
(b) the replaced agreement was an agreement for the sale or 24
transfer of substantially the same dutiable property. 25
87C Agreements or transfers must be for acquisition of new home 26
(1) An agreement for the sale or transfer of dutiable property is 27
eligible under the scheme if: 28
(a) it is an agreement for the acquisition of a new home that is 29
complete and ready for occupation, or 30
(b) it is an agreement for the sale or transfer of land on which 31
a new home is to be built before completion of the sale or 32
transfer (an off the plan purchase agreement). 33
(2) A transfer is eligible under the scheme if the transfer is for the 34
acquisition of a new home that is complete and ready for 35
occupation. 36
Page 3
State Revenue Legislation Amendment Bill 2009
Schedule 1 Amendment of Duties Act 1997 No 123
(3) For the purposes of this Division, a new home is a home that has 1
not been previously occupied or sold as a place of residence, and 2
includes a substantially renovated home. 3
(4) An off the plan purchase agreement is eligible only if the 4
agreement states that the sale or transfer must be completed 5
before 30 June 2011 or, in any other case, the agreement is 6
completed before 30 June 2011 or by such later date as the Chief 7
Commissioner may allow for delay caused by circumstances 8
beyond the control of the parties. 9
(5) In any case, the agreement or transfer must be for the whole of 10
the land or, if the land is a parcel of land on which 2 or more 11
homes are built, or are being built, for that part of the land that is 12
an exclusive occupancy. 13
(6) For the purposes of this section, land is an exclusive occupancy 14
only if the Chief Commissioner is satisfied that the person 15
acquiring the land will be entitled to occupy a home that is built, 16
or being built, on the land as a place of residence to the exclusion 17
of other persons who occupy or are to occupy the other home or 18
homes built or being built on the parcel of land. 19
(7) The Chief Commissioner may approve an application in relation 20
to an off the plan purchase agreement in anticipation of 21
compliance with the eligibility requirements of this section. 22
87D Restrictions on eligibility 23
(1) An agreement or transfer is not eligible if: 24
(a) the agreement or transfer is eligible under the First Home 25
Plus scheme in Division 1, or 26
(b) the transferee, or any of the transferees, is eligible for or 27
has been paid a grant under the First Home Owner Grant 28
Act 2000 in respect of the purchase or construction of the 29
new home on the land. 30
(2) An agreement or transfer is not eligible if the new home, or the 31
land on which the new home is located or to be built, is intended 32
to be used, or made available for use, for any purpose that is not 33
ancillary to the use and occupation of the land for residential 34
purposes (such as a commercial, industrial or professional 35
purpose). 36
(3) However, an agreement for the purchase, or a transfer, of a 37
farming property on which there is a new home or on which a 38
new home is to be constructed is not excluded. 39
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State Revenue Legislation Amendment Bill 2009
Amendment of Duties Act 1997 No 123 Schedule 1
87E Cap on dutiable value of transaction 1
The dutiable value of the dutiable property that is the subject of 2
the agreement or transfer must not exceed $600,000. 3
87F Duty payable if application approved 4
(1) If an application concerning an eligible agreement or transfer is 5
approved, the amount of ad valorem duty chargeable on the 6
agreement or transfer is to be reduced by 50%. 7
(2) If an eligible agreement or transfer is aggregated with other 8
dutiable transactions, and treated as a single dutiable transaction 9
under section 25, the 50% reduction is to be applied only to the 10
ad valorem duty that would be chargeable (in the absence of 11
aggregation) on the approved agreement or transfer. 12
87G Making of applications 13
(1) An application under this Division is to be made to the Chief 14
Commissioner in an approved form. 15
(2) The Chief Commissioner may at any time (whether before or 16
after the approval of an application) require the applicant or 17
applicants to provide such further information as the Chief 18
Commissioner may consider necessary for the proper 19
administration of the scheme. 20
87H Reassessment of duty payable where duty concession wrongly 21
applied 22
(1) The Chief Commissioner may reassess the duty chargeable in 23
respect of an agreement or transfer that is initially approved 24
under the scheme if the Chief Commissioner forms the opinion 25
that the agreement or transfer is not eligible under the scheme, 26
including in a case where approval was given in anticipation of 27
compliance with any eligibility requirements that have not been 28
met. 29
(2) The Chief Commissioner may issue a notice of assessment, based 30
on the reassessment, for the duty chargeable in respect of the 31
agreement or transfer. 32
87I Charge on land for duty liability of applicant 33
(1) Any duty liability that an applicant has under the scheme in 34
respect of an agreement or transfer is a charge on the applicant's 35
interest in the land that is the subject of the agreement or transfer. 36
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State Revenue Legislation Amendment Bill 2009
Schedule 1 Amendment of Duties Act 1997 No 123
(2) An applicant has a duty liability under the scheme in respect of 1
an agreement or transfer if the applicant is required to pay an 2
amount of duty to the Chief Commissioner, in respect of an 3
agreement or transfer that is initially approved under the scheme, 4
under a notice of assessment referred to in section 87H. 5
(3) The charge created by this section gives the Chief Commissioner 6
an interest in the land and, accordingly, the Chief Commissioner 7
may lodge a caveat in respect of the land under the Real Property 8
Act 1900 to protect that interest. 9
(4) The caveat must be withdrawn when the amount of the duty 10
liability has been paid. 11
(5) The amount of the duty liability is the amount of duty that the 12
applicant is required to pay to the Chief Commissioner in respect 13
of the relevant agreement or transfer, together with any interest 14
or penalty tax payable. 15
(6) In this section: 16
applicant includes a former applicant. 17
87J Definitions 18
(1) In this Division: 19
home means a building (affixed to land) that: 20
(a) may lawfully be used as a place of residence, and 21
(b) is, in the Chief Commissioner's opinion, a suitable 22
building for use as a place of residence. 23
new home--see section 87C. 24
(2) For the purposes of this Division, a home is a substantially 25
renovated home if: 26
(a) the home is new residential premises within the meaning 27
of section 40-75 (1) (b) of the A New Tax System (Goods 28
and Services Tax) Act 1999 of the Commonwealth, and 29
(b) the home, as renovated, has not been previously occupied 30
or sold as a place of residence. 31
[2] Section 270B 32
Insert after section 270A: 33
270B Exemption for caravans 34
(1) Duty under this Chapter is not chargeable on an application to 35
register a motor vehicle if the motor vehicle is a caravan. 36
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State Revenue Legislation Amendment Bill 2009
Amendment of Duties Act 1997 No 123 Schedule 1
(2) In this section: 1
caravan means a trailer (within the meaning of the Road 2
Transport (Vehicle Registration) Act 1997), including a camper 3
trailer, that is permanently fitted for human habitation in 4
connection with a journey. 5
[3] Schedule 1 Savings, transitional and other provisions 6
Insert at the end of clause 1 (1): 7
State Revenue Legislation Amendment Act 2009 8
Page 7
State Revenue Legislation Amendment Bill 2009
Schedule 2 Amendment of First Home Owner Grant Act 2000 No 21
Schedule 2 Amendment of First Home Owner Grant 1
Act 2000 No 21 2
[1] Section 18C NSW new home buyers supplement 3
Omit "10 November 2009" wherever occurring in section 18C (2), (3) (a), 4
(4) (a) and (5) (a). 5
Insert instead "30 June 2010". 6
[2] Section 18C (3) (b) 7
Omit "10 May 2011" wherever occurring. 8
Insert instead "the required completion date". 9
[3] Section 18C (7) 10
Insert in alphabetical order: 11
required completion date means: 12
(a) for a contract made on or after 11 November 2008 and on 13
or before 10 November 2009, 10 May 2011, or 14
(b) for a contract made after 10 November 2009 and on or 15
before 30 June 2010, 31 December 2011. 16
[4] Schedule 1 Savings, transitional and other provisions 17
Insert at the end of clause 1 (1): 18
State Revenue Legislation Amendment Act 2009 19
Page 8
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