NSW: Purchaser declaration when acquiring any land in NSW

From 18 July 2016, all purchasers and transferees must complete a purchaser’s declaration when acquiring land in NSW.
The purchaser declaration must be lodged with any document assessed for duty dated on or after 21 June 2016.
The purpose of the declaration is to assist in determining liability in relation to, and gather information on:

  • 4% surcharge purchaser duty on the purchase of residential real estate by foreign person from 21 June 2016;
  • Identifying foreign persons for surcharge land tax liability;
  • Commonwealth reporting requirement – to report information to the ATO from 1 July 2016 on transfers of land in NSW.

The OSR notified that an amendment to the Conveyancing (Sale of Land) Regulation 2010 requires the vendor under a
contract for sale of land to provide a current Land Tax Certificate to the purchaser. This applies to all contracts entered into on
or after the 1 July 2016. The taxpayers must use a Client Service Provider to apply a clearance certificate.

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