(1) In this Division
—
concessional first home owner has the meaning
given in section 142A;
deposit , in relation to a terms contract,
includes any part of the purchase price which the contract specifies as being
a deposit and provides is to be paid, whether in one or more payments, within
28 days of the execution of the contract;
FHOG Act means the First Home Owner Grant Act
2000 ;
first concessional transaction has the meaning
given in section 142(2);
first home owner concessional rate of duty means
the concessional rate of duty applicable under section 143;
first home owner concessional transaction has the
meaning given in section 142(1);
further concessional transaction has the meaning
given in section 142(2);
terms contract means a contract for the sale and
purchase of land under which the purchaser is obliged to make 2 or more
payments to the vendor (over and above any deposit) before the purchaser is
entitled to a conveyance or transfer of the land;
transferee , in respect of a transaction, means a
person to whom the property the subject of the transaction —
(a) is
transferred; or
(b) is
agreed to be transferred,
other than —
(c) a
person who, under the FHOG Act, would not be required to join in making an
application for a first home owner grant; or
(d) a
prescribed person.
(2) If a term is given
a meaning in the FHOG Act, it has the same meaning in this Division.
(3) For the purposes
of this Division, a person is a substituted transferee in relation to a
dutiable transaction if —
(a) the
dutiable transaction is an agreement for the transfer of dutiable property
referred to in section 11(1)(b); and
(b) due
to the operation of section 42(2) or (4), duty is not chargeable on the
transfer to the person of the dutiable property under the agreement.
[Section 141 amended: No. 27 of 2015 s. 9; No. 12
of 2019 s. 49.]