A transaction involving a substituted transferee can be self-assessed unless:
- there is no contract for the sale of land or
- the original purchasers or the substituted transferees are foreign persons or
- the first home owner rate of duty applies.
A transferee is considered to be related to the purchaser if they are:
- an eligible family member of the purchaser
- a corporation where the purchaser or substituted transferee is the sole shareholder, or related or all the other shareholders or
- a unit trust where the purchaser or substituted transferee is the sole unit holder, or related or all the other unit holders.
Example
Mary Smith executes a contract for sale to purchase a property as the only buyer and substitutes her 100% interest to her son, John Smith, on the transfer of land. Neither Mary nor John are first home buyers or foreign persons. The transaction can be self-assessed.
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