(a) the transfer, or agreement for the transfer,
of residential land or vacant land;
(b) the acquisition, mentioned in
section 85(b) , of a lease of residential land or vacant land;
(c) the
vesting, mentioned in section 85(c) , of residential land or vacant land.
(2) Within 28 days after the notifiable event happens, each transferee, lessee
or vested person for land in relation to the relevant transaction must—
(a)
give notice in the approved form to the commissioner; and
(b) ensure the
instruments required for the assessment of duty for the transaction are lodged
for a reassessment of transfer duty on the transaction.
Note—
Failure to
give the notice is an offence under the Administration Act , section 120 .
(3) In this section—
"lease" does not include a lease or sublease entered into as part of a
retirement village leasing arrangement.
"notifiable event" , for residential land or vacant land, means—
(a) the
transfer, lease or otherwise granting of exclusive possession of all or part
of the land before, or within 1 year after, the transferee’s, lessee’s or
vested person’s occupation date for the residence on the land; or
(b) if
the relevant transaction is the acquisition, mentioned in section 85(b) , of
a lease of residential or vacant land—the surrender of the lease before, or
within 1 year after, the lessee’s occupation date for the residence on the
land; or
(c) failure to comply with the occupancy requirement for the
residence on the land.
