New South Wales Bills New South Wales Bills[Index] [Search] [Download] [Related Items] [Help]
This is a Bill, not an Act. For current law, see the Acts databases.
New South Wales
Duties Amendment (Senior's Principal
Place of Residence Duty Exemption)
Bill 2011
Contents
Page
1 Name of Act 2
2 Commencement 2
Schedule 1 Amendment of Duties Act 1997 No 123 3
b2011-033-12.d07
New South Wales
Duties Amendment (Senior's Principal
Place of Residence Duty Exemption)
Bill 2011
No , 2011
A Bill for
An Act to amend the Duties Act 1997 to extend the senior's principal place of
residence duty exemption under the NSW Home Builders Bonus to persons
between 55 and 65 years of age.
Duties Amendment (Senior's Principal Place of Residence Duty Exemption)
Clause 1 Bill 2011
The Legislature of New South Wales enacts: 1
1 Name of Act 2
This Act is the Duties Amendment (Senior's Principal Place of 3
Residence Duty Exemption) Act 2011. 4
2 Commencement 5
This Act commences on the date of assent to this Act. 6
Page 2
Duties Amendment (Senior's Principal Place of Residence Duty Exemption)
Bill 2011
Amendment of Duties Act 1997 No 123 Schedule 1
Schedule 1 Amendment of Duties Act 1997 No 123 1
[1] Chapter 2, Part 8, Division 1B, heading 2
Omit "(Budget 2010-11)". 3
[2] Section 87S Senior's principal place of residence duty exemption 4
Omit section 87S (6) (a). Insert instead: 5
(a) the person is 55 years of age or older, and 6
[3] Section 87S (6A)-(6C) 7
Insert after section 87S (6): 8
(6A) However, a person who is under the age of 65 years is not an 9
eligible senior unless the relevant agreement or transfer is a 10
complying agreement or transfer that is eligible for consideration 11
under the scheme. 12
(6B) A complying agreement or transfer is: 13
(a) an agreement for sale or transfer of dutiable property 14
entered into on or after 1 July 2011, or 15
(b) a transfer of dutiable property that occurs on or after 16
1 July 2011 (other than a transfer made in conformity with 17
an agreement for sale or transfer entered into before 18
1 July 2011). 19
(6C) An agreement for sale or transfer of dutiable property is not a 20
complying agreement or transfer if: 21
(a) it replaces an agreement made before 1 July 2011, and 22
(b) the replaced agreement was an agreement for the sale or 23
transfer of substantially the same dutiable property. 24
Page 3
[Index] [Search] [Download] [Related Items] [Help]