Off the plan purchases

The items listed below are not links. They indicate where you are in this process.

• Start

• Duty liability

• Declaration

Normally, liability to pay duty on an Agreement for the Sale of Land arises on the date of the agreement (date of exchange). Duty must be paid within 3 months of this date to avoid any interest or penalties being applied. See Section 17 of the Duties Act.

However, under Section 49A of the Duties Act liability to pay duty on an 'Off the Plan' purchase agreement arises at a later date.

An 'Off the Plan' purchase agreement means an agreement for the sale or transfer of dutiable property, being land on which a residence is to be erected or developed before completion of the sale or transfer.

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