(1) The duty charged by this Chapter on a dutiable transaction referred to in section 8 (1) (b) is to be charged as if each such dutiable transaction were a transfer of dutiable property.
(2) Accordingly, for the purpose of charging duty under this Chapter, in relation to a dutiable transaction specified in Column 1 of the following Table--(a) the property specified opposite the dutiable transaction in Column 2 is taken to be the property transferred (and a reference in this Act to property transferred includes a reference to such property), and(b) the person specified opposite the dutiable transaction in Column 3 is taken to be the transferee of the dutiable property (and a reference in this Act to a transferee includes a reference to such a person), and(c) the transfer of the dutiable property is taken to have occurred at the time specified opposite the dutiable transaction in Column 4 (and a reference in this Act to the time at which a transfer occurs includes a reference to such a time).Table
Column 1 Column 2 Column 3 Column 4 Dutiable transaction Property transferred Transferee When transfer occurs agreement for sale or transfer the property agreed to be sold or transferred the purchaser or transferee when the agreement is entered into declaration of trust the property vested or to be vested in the declarant the person declaring the trust when the declaration is made surrender the surrendered property the person to whom the property is surrendered when the surrender takes place foreclosure the mortgaged property the mortgagee when the foreclosure order is made vesting by court order the vested property the person in whom the property is vested when the order is made enlargement of a term in land into a fee simple the estate in fee simple the person who acquires the estate in fee simple when the term is enlarged vesting by statute law the vested land in New South Wales the person in whom the land is vested when the vesting by statute law occurs lease the leased property the lessee when the lease is entered into another transaction that results in a change in beneficial ownership of dutiable property the property the beneficial ownership of which is changed the person who obtains the beneficial ownership or whose beneficial ownership is increased when beneficial ownership changes