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DUTIES ACT 2008 - SECT 141

141 .         Terms used

        (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.]



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