New South Wales Consolidated Acts

DUTIES ACT 1997 - SECT 37

37 Anti-avoidance measures

Sections 35 and 36 do not apply in respect of a transfer or transaction with respect to a business asset referred to in section 11 (1) (g), a statutory licence or permission referred to in section 11 (1) (h), or a poker machine entitlement referred to in section 11 (1) (h1), that occurs on or after 1 July 2012 if:

(a) the transfer or transaction replaces a transfer or transaction involving the same business asset, statutory licence or permission, or poker machine entitlement that occurred before 1 July 2012, or

(b) the transfer or transaction is made or entered into pursuant to an option to purchase the business asset, statutory licence or permission, or poker machine entitlement that was granted before 1 July 2012, or

(c) the transfer or transaction was made or entered into pursuant to another arrangement, made before 1 July 2012, the only or main purpose of which was to defer the transfer or transaction until 1 July 2012, or later, so that duty would not be chargeable under this Chapter on the transfer or transaction.