This page provides you with definition of terms used for Commonwealth Reporting purposes that relate to:

• Transaction Details
• Property Details
• Purchaser and Vendor Details

Transaction Details

Settlement Date

The date that settlement is anticipated to occur.

Document Date

The date that the document was executed.

Contract Date

The date that the contract was last executed.

Possession/Occupation Date

The date that the purchaser is anticipated to possess or occupy the property - if different from Settlement Date.

Consideration

The amount of money paid by the transferee to the transferor for the land as per the contract for sale and purchase of the land.  This must refer to the land consideration only and not include consideration for plant, equipment, stock, chattels etc.  If the contract does not apportion the consideration, use the Capital Value to determine the duty.

Market Value

Where there is no consideration paid or for related parties or the consideration is less than the market value, you will need to enter the market value of the interest in the property being conveyed.

GST Payable (Optional)

Indicate the amount of Goods and Services Tax (GST) payable on the sale of the property - if applicable. Note: this figure should also form part of the total consideration – not be in addition to the consideration.

Interest Transferred as a Percentage

Indicate the percentage interest of the property being transferred. Note: this does not impact the amount of stamp duty that is calculated in the system.

New Building or Housing Indicator (Optional)

Indicate if the building/house has not been previously occupied or sold.

Residential Off the Plan (Optional)

Indicate if the contract for the purchase of the home is on a proposed lot in an unregistered plan of a subdivision of land.

Purchaser & Vendor

Related/UnrelatedIncludes persons who are connected by blood or marriage and also includes “related persons” as defined in Section 60A(6) of the Stamp Duties Act 1923, which includes:

• natural persons who are either members of a partnership or who are related as spouses or as a parent and a child;
• related companies for Corporations Act 2001 purposes;
• trustees who have a common beneficiary in relation to their individual trusts;
• natural person and a company, where the natural person is a major shareholder, director, secretary of the company or in another related company;
• natural person beneficiary and the trustee of the trust; or
• company and a trustee under certain circumstances (refer Section 60A(6)(f) of the Stamp Duties Act 1923)

Property Details

Residential/Non-Residential

Land is taken to be residential land if:

• the Commissioner of State Taxation (the “Commissioner”), after taking into account information provided by the Valuer-General, determines that it is being predominantly used for residential purposes;
• the Commissioner, after taking into account information provided by the Valuer-General, determines that although the land is not being used for any particular purpose at the relevant time the land should be taken to be used for residential purposes due to improvements that are residential in character having been made to the land; or
• the Commissioner, after taking into account information provided by the Valuer-General, determines that the land is vacant, or vacant with only minor improvements, that the land is within a zone established under the planning and development law of this State that envisages the use, or potential use, of the land as residential, and that the land should be taken to be used for residential purposes due to that zoning (subject to the qualification that if the zoning of the land indicates that the land could, in a manner consistent with the planning and development law, be used for some other purpose (other than for primary production) then the vacant land will not be taken to be used for residential purposes).

The date that is relevant to a determination as to whether land is residential land is (i) the date of the relevant instrument or (ii) in the case of an acquisition under Part 4, the date of the relevant transaction.

For further information regarding whether land is taken to be used for residential purposes, please refer to Information Circular No. 103.

Residential land used for a commercial purpose

Where land constitutes residential land but is nonetheless used for a commercial purpose, Information Circular No. 103 states:

“A further exception is in relation to land which although coded as residential by the Valuer-General will nevertheless be considered by the Commissioner to be commercial in nature. This treatment will be consistent with the Local Government zoning of the land. Land uses that fall into this category are Hostels, Hotels, Motels, Serviced Apartments and short term unit accommodation.”

The land referred to above will not be considered to be residential land.

However, the exception discussed in Information Circular No. 103 does not extend to Retirement Villages, Aged Care Facilities and other residential premises where the accommodation can best be described as “long term accommodation”.

Residential land used for the commercial purpose of providing long term accommodation is not considered to be qualifying land. Accordingly, where such land is acquired by a foreign person or trust, the surcharge will apply.

LUC

Land Use Code. For details of Land Use Codes please refer to the Office of the Valuer-General land Use Codes.

Purchaser and Vendor Details

Individuals that are Australian Citizens

Given Names

First and second names - as applicable. Do not include maiden family name.

Nationality or Citizenship

If the purchaser/vendor is a holder of a permanent visa within the meaning of Section 30(1) of the Migration Act 1958 (Cwlth) then they are deemed to be Australian for the purposes of this question. If the purchaser/vendor is a citizen or permanent resident of Australia and is also a citizen of another country then they are deemed to be Australian for the purposes of this question.

Individuals from Overseas

Party Interest Transferred (Optional)

Definition for Party Interest Transferred: Indicate as a fraction, the interest of the property being acquired by this foreign entity, for example, if this purchaser’s interest is 50% then enter ½. For further details please refer to the Foreign Ownership Surcharge page.

Passport Number

The number recorded on the individual’s passport if Nationality/Citizenship field is not Australia.

Visa Number

The visa number recorded in the individual’s passport if Nationality/Citizenship field is not Australia.

Visa Subclass

The visa subclass recorded in the individual’s passport if Nationality/Citizenship field is not Australia.

Visa Expiry Date

The visa expiry date recorded in the individual’s passport if Nationality/Citizenship field is not Australia.

FIRB Application  Number (Optional)

The Foreign Investment Review Board (FIRB) Application Number allocated to a foreign entity on their application to purchase the property (Purchaser), and/or original purchase of the property (Vendor).