Source: https://www.qld.gov.au/housing/buying-owning-home/definitions-transfer-duty-terms
Timestamp: 2018-03-20 21:33:46
Document Index: 752872335

Matched Legal Cases: ['arts 8', 'art 19', 'art 19', 'art 13', 'art 7', 'art 4', 'art 10', 'art 8', 'art 7']

Definitions of transfer duty terms | Homes and housing | Queensland Government
The following definitions relate to terms that come from the Duties Act 2001.
Land in Queensland that is or will be used solely or primarily for residential purposes, including:
Other types of residential property such as retirement villages and student accommodation are considered on a case-by-case basis.
See the definition of residential land.
A person’s or their spouse’s parent or grandparent, or the spouse of the parent or grandparent.
A reduction in the amount of duty you must pay on certain dutiable transactions.
Transfer duty concessions are available to home buyers, first home buyers and buyers of vacant land on which to build their first home. Concessions also exist for superannuation, certain family business transfers and certain investment schemes.
See Chapter 2—Parts 8A, 9, 10, 11 and 12 of the Act for more information.
Generally, the Australian dollar value paid for property in property transfers.
Consideration includes monetary and non-monetary payments, such as assumption of liabilities.
See section 12 of the Act for a full definition.
De facto relationship instrument
Any of the following instruments to the extent that it deals with de facto relationship property:
a recognised agreement under the Property Law Act 1974 section 266
an order of a court under the Property Law Act, Part 19
an instrument made under a recognised agreement under the Property Law Act, section 266
an instrument made under an order of a court under the Property Law Act, Part 19.
See section 422 of the Act for a full definition.
De facto relationship property
Property of the de facto partners in a de facto relationship, or property of either partner.
See section 423 of the Act for a full definition.
Your spouse or any of the following people related to you or your spouse:
For transactions between 23 May 2017 and 22 May 2018, a defined relative includes a first cousin and their spouse.
Relating to land or a residence, means transferring, leasing or otherwise granting exclusive possession of part or all of the property to another person.
This may include selling the property or renting out 1 or more rooms.
Where a concession relates to leasehold land, you dispose of the land when you surrender the lease.
You do not dispose of the property when:
the transferor continues to occupy the property after the transfer date but vacates it within 6 months of the transfer date
the existing tenants continue to occupy the property after the transfer date but vacate it at the end of the current lease term or within 6 months of the transfer date, whichever happens first. However, the lease arrangement needs to have been in place before the transfer date
an intervening event occurs, such as a natural disaster, or the death or incapacity of the transferee
you transfer part of the land to your spouse and the transfer is exempt from duty under section 151 of the Duties Act
you are acquiring residential land that is an accommodation unit in a retirement village and you enter into a retirement village leasing arrangement for the unit.
See the Residential Tenancies Authority for more information on leasing arrangements and obligations on giving tenants notice to leave.
Property that is involved in a dutiable transaction in Queensland.
When you buy or sell dutiable property, you’re likely to pay duty. This can include:
a transferable site area
an existing right
a Queensland business asset
Read section 10 of the Act for more on property types.
A transaction that you enter into in Queensland where you’re likely to pay duty.
a surrender of dutiable property in Queensland or a transferable site area
a vesting under a state or Commonwealth Act, or court order of dutiable property
an acquisition of a new right on its creation, grant or issue
Read section 9 of the Act for more on transaction types.
Mortgages, security interests or other charges and liabilities that are or can be attached to a property.
Generally, the right to exclude all others, including the owner, from all or part of a property.
Whether exclusive possession has been granted depends on the:
terms of the written agreement, where there is one
facts and circumstances of the arrangement, where there is no written agreement.
Exclusive possession may also be granted by law. For example, the Residential Tenancies and Rooming Accommodation Act 2008 applies to certain renting arrangements. You should seek professional advice before arranging to rent out all or any part of your home.
See the Residential Tenancies Authority for more information on leasing arrangements and obligations.
Release from any obligation to pay duty on a dutiable transaction, generally meaning you don’t have to pay anything.
See Chapter 2—Part 13, Chapter 8—Part 7, Chapter 9—Part 4, and Chapter 10 of the Act for more information.
Relief from paying tax when a taxpayer believes that a revenue law has been applied differently to the way intended, in a way that’s unreasonable or in conflict with government policy.
The Under Treasurer decides whether to provide ex gratia relief on a case-by-case basis. Read more about ex gratia relief.
A business of primary production or a prescribed business, carried on by one or more members of a particular family, family trust or family partnership.
See Chapter 2—Part 10 of the Act for more information.
A residence that the owner has occupied as their principal place of residence within 1 year of the transfer date for the residential land.
Indentity details annexure
Each non-Australian transferor and transferee must lodge an identity details annexure for a transfer of real property. The annexure complements certain transfer duty forms.
An agreement registered on the Register of Indigenous Land Use Agreements under the Native Title Act 1993 (Cwlth), Part 8.
For partnerships, an interest held in dutiable property if:
through a partnership interest or trust interest, there is a connection between the partnership and dutiable property of the other partnership or trust
through a series of partnership interests or trust interests, or a combination of these, there is a connection between the partnership and dutiable property of a partnership or trust in the series.
For trusts, an interest held in dutiable property if:
through a trust interest or partnership interest, there is a connection between the trust and dutiable property of the other trust or partnership
through a series of trust interests or partnership interests, or a combination of these, there is a connection between the trust and dutiable property of a trust or partnership in the series.
For corporate trustees, an interest held in dutiable property if:
the corporate trustee has a partnership interest or trust interest in an ultimate entity
through a series of partnership interests or trust interests, or a combination of these, there is a connection between the corporate trustee and dutiable property of a partnership or trust in the series.
A written document in hard copy form.
Intervening event (home concessions)
a natural disaster (including fire or flood)
the death or incapacity of a transferee or lessee who was granted the home concession
another event prescribed under a regulation.
See Schedule 6 of the Act for a full definition.
For the purposes of the Duties Act, includes:
airspace above land and Queensland coastal waters
a resource authority.
The definition doesn’t include an exploration permit under the Petroleum (Submerged Lands) Act 1982.
A reference to ‘land’ includes a reference to an interest in land. Under the Acts Interpretation Act 1954, ‘interest’ in relation to land or other property means either a:
legal or equitable estate in the land or other property
right, power or privilege over, or in relation to, the land or other property.
The lack of capability to perform an act that includes the ability to manage or administer financial affairs as determined by a court. If a person has a legal disability, a guardian usually oversees their financial affairs.
Generally relates to the business of on-site caretaking and letting of unit or townhouse complexes.
Management rights are generally not dutiable when first granted, but are when transferred or reassigned.
See Schedule 6 of the Act for information on existing rights.
Matrimonial instrument
May be an:
agreement registered or approved under the Family Law Act 1975 (Cwlth)
order of a court under the Family Law Act
instrument made under an agreement registered or approved under the Family Law Act
instrument made under an order of a court under the Family Law Act
instrument made after the start of a proceeding for the dissolution or annulment of a marriage.
This instrument serves to transfer property owned by one party to a marriage to the other party (only).
See section 420 of the Act for a full definition.
Property of the parties to a marriage (or either party) that is:
residential land (the residence on which is the principal residence of the party to whom it is to be or being transferred)
a vehicle for private use by the party to whom it is to be or being transferred.
See section 421 of the Act for a full definition.
A new building is residential premises that is one of the following:
has not previously been sold or transferred as residential premises (e.g. purchasing a new home directly from a developer)
has been built, or contains a building that has been built, to replace demolished premises on the same land
has been created through substantial renovations.
Substantial renovations are generally renovations in which all, or most, of the structural or non-structural components of a building are removed or replaced. Most of the rooms in the previous building must have been affected, and the renovations must have affected the building as a whole. The sale of substantially renovated residential premises generally attracts GST.
A transferor or transferee is a non-Australian entity if they are:
an individual who is not an Australian citizen (non-Australian individuals include permanent residents)
a company incorporated outside Australia
a trust with a country of tax residence that is not Australia
another body (e.g. body politic, corporation sole) formed outside Australia.
An event that prevents you fulfilling the conditions of a concession for residential or vacant land.
selling or renting any part of the property for which you claimed a concession within 1 year
not moving into the residence within 1 year.
See section 155(3) of the Act for a full definition.
A type of business in which people share with each other the profits or losses of the business in which they have invested.
See Chapter 2—Part 7 of the Act for more information.
A business solely involving an activity prescribed under Schedule 3 of the Duties Regulation 2013, such as:
A residence you live in (with your personal belongings) on a daily basis.
Other factors may determine whether a residence is your principal place of residence, such as:
the extent of time you live in the residence
the address you have your mail delivered to
whether utilities (e.g. electricity, gas and telephone) are connected to the dwelling and the accounts are in your name
whether the residence address is recorded against your name on electoral rolls.
See the public ruling on occupancy requirements for home and first home concessions (DA085.1).
The use of property by a charitable institution that is exempt, such as:
conducting religious or educational activities (including kindergartens)
providing full-time care for children by protecting their wellbeing and giving them food, clothing and shelter
conducting another charitable or public benevolent purpose
providing residence to a minister or members of a religious order conducting a previously listed activity
Property that forms part of an employment or salary package for an employee of a charitable institution is not exempt from duty.
See section 415 of the Act for a full definition.
Property that is generally concerned with the law relating to interests in land and buildings on the land (e.g houses, apartments, business premises or vacant land).
Real property is property that can be registered with the Department of Natural Resources, Mines and Energy.
Entities Related persons
2 individuals If they are family members
2 corporations If they are related bodies corporate—that is, one of the corporations is a subsidiary, holding company or subsidiary of a holding company of the other corporation
An individual and corporation If the individual or a family member:
is a majority shareholder, director or secretary of the corporation
is a majority shareholder, director or secretary of the corporation's related body corporate (such as a holding company or a subsidiary)
holds a majority interest in the corporation or related body corporate
Individual and trustee If:
the individual is a beneficiary of the trust
a related person of the individual—that is, a family member or family company—is a beneficiary of the trust
Corporation and trustee If:
the corporation is a beneficiary of the trust
a related person of the corporation is a beneficiary of the trust
2 trustees If a person is a beneficiary of:
both trusts
one trust and a related person is the beneficiary of the other trust
​Partners in a partnership Only for the purposes of additional foreign acquirer duty (AFAD)​
A dutiable transaction on which transfer duty is imposed, or a relevant acquisition on which landholder duty or corporate trustee duty is imposed.
A building or part of a building in Queensland that is:
designed, or approved by a local government, for human habitation by a single family unit
Land or the part of land in Queensland on which a residence is constructed.
This includes the area immediately surrounding the residence if that area is not used commercially.
See section 86A of the Act for a full definition.
Read the definition of AFAD residential land
Residential off-the-plan purchase
A residential off-the-plan purchase occurs when a person enters into a contract to purchase new residential property before construction is completed. An off-the-plan purchase generally involves a proposed lot where the title is yet to be registered. Settlement of the contract cannot occur until certain events have happened (e.g. where the owner of the land has not completed all capital works required before the title can issue, such as boundaries, roads, and telephone and electricity connections; or where an apartment block is being built).
When land is used only for a residence and not for commercial use.
See the public ruling on the residential purposes for the transfer duty concession for homes and first homes (DA087.1).
a geothermal tenure under the Geothermal Energy Act 2010
a greenhouse gas (GHG) authority under the Greenhouse Gas Storage Act 2009
a mining tenement under the Mineral Resources Act 1989
the following petroleum authorities under the Petroleum and Gas (Production and Safety) Act 2004
an authority to prospect a petroleum lease
a data acquisition authority
a water monitoring authority
a petroleum facility licence
an authority to prospect or lease under the Petroleum Act 1923
a sublease under the following
a geothermal coordination arrangement under the Geothermal Energy Act
a GHG coordination arrangement under the Greenhouse Gas Storage Act
a coordination arrangement under the Petroleum and Gas (Production and Safety) Act.
A taxpayer or tax agent required or permitted to lodge a transaction statement.
See Chapter 12 of the Act for information.
a civil partner (under the Civil Partnerships Act 2011).
The date you’re entitled to possess the property.
This is usually the date of settlement or the date the land is vested in your name.
See the public ruling on concessions for home and first homes (DA085.1).
Acquisition of an interest in a trust that holds dutiable property or has an indirect interest in dutiable property.
See section 55 of the Act for a full definition.
Surrender of an interest in a trust that holds dutiable property or has an indirect interest in dutiable property.
See section 56 of the Act for a full definition.
The value of the property being transferred disregarding any encumbrance; for example, money owed under a mortgage.
See section 14 of the Act for a full definition.
Unpaid tax interest.
Learn about unpaid tax interest and when it applies.
For the purposes of the first home vacant land concession, land in Queensland on which you intend to build a residence to live in.
When you acquire the land, there must be no building (or part of a building) on the land.
See section 86C of the Act for a full definition.
When you inform us that you’ve failed to comply with an obligation under a tax law.
Read the public ruling about penalty tax for home concessions (TAA060.3).