Transfer in or not in conformity
How duty is charged on a transfer made in conformity to an agreement
Duty of $2 is charged on a transfer of dutiable property made in conformity with an agreement for the sale or transfer of the dutiable property.
How duty is calculated on a transfer not made in conformity to the agreement
If the transfer of dutiable property is not made in conformity with an agreement for the sale or transfer of the dutiable property, the transfer is liable to the general rate of duty. However duty of $2 is payable if :
a) the duty on the agreement has been paid, and
b) the transfer would be in conformity with the agreement if the transferee was the purchaser under the agreement, and
c) the transfer occurs at the same time as, or proximately with, the completion or settlement of the agreement, and
d) at the time the agreement was entered into and at the completion or settlement of the agreement:
the purchaser under the agreement and the transferee under the transfer were related persons or if the purchaser purchased as a trustee, the transferee and the beneficiary were related persons.
Note: A statutory declaration must be completed stating relationship together with documentary evidence.
