New South Wales Consolidated Acts

DUTIES ACT 1997 - SECT 85B

85B Grant not available to foreign nationals

(1) An agreement or transfer is eligible only if the transferee or, if there is more than one transferee, each of the transferees is a declared Australian national.

(2) A transferee is a
"declared Australian national" if the applicant has provided to the Chief Commissioner, in an approved form--

(a) such information as the Chief Commissioner requires to identify the transferee, and

(b) a declaration to the effect that the transferee is an Australian citizen, Australian resident or Australian-owned body.

(3) For the purposes of this section--

(a)
"Australian citizen" has the same meaning as in the Australian Citizenship Act 2007 of the Commonwealth, and

(b)
"Australian resident" means--

(i) the holder of a permanent visa within the meaning of section 30 of the Migration Act 1958 of the Commonwealth, or

(ii) a New Zealand citizen who holds a special category visa within the meaning of section 32 of the Migration Act 1958 of the Commonwealth, and

(c)
"Australian-owned body" means a corporation or body corporate that is at least 50% owned or controlled by persons who are Australian citizens or Australian residents.

(4) However, if a transferee is acquiring the land in a trustee capacity, the transferee is an Australian citizen, Australian resident or Australian-owned body only if at least 50% of the beneficial interest in the land is held by Australian citizens, Australian residents or Australian-owned bodies.

(5) The Chief Commissioner may reject or revoke approval of an application if satisfied the applicant has made a false declaration under this section.