(b) the transferee under the
cancelled agreement or a related person of the transferee receives, or will
receive, directly or indirectly a financial benefit other than—
(i) the
release of the transferee from the transferee’s obligation under the
cancelled agreement; or
(ii) an interest in the dutiable property to the
extent that the unencumbered value of the interest does not represent a profit
for the transferee because of the resale agreement.
(3) If, on an assessment,
transfer duty has been paid on an agreement that is not liable to
transfer duty because of this section, the commissioner must make a
reassessment if an application is made within 6 months after the agreement is
ended or within the longer period the commissioner allows.