Stamp Duties Consolidation Act 1999 section 92

New dwellinghouses and apartments with no floor area certificate

Section 92 dealt with the stamp duty treatment of new dwellinghouses and apartments that did not qualify for a floor area compliance certificate because their total floor area exceeded 125 square metres.

• Applied to instruments executed before 8 December 2010 conveying or leasing new dwellinghouses or apartments with a total floor area exceeding 125 square metres.
• Where the building agreement rules in section 29 or section 53 applied, duty was charged on the greater of the land consideration or 25 per cent of the aggregate of the land consideration and the building cost.
• Where neither section 29 nor section 53 applied but the instrument gave effect to the purchase of a dwellinghouse or apartment on its erection, the consideration was treated as reduced by 75 per cent for ad valorem duty purposes.
• A clawback arose if the property was rented out (other than under a rent-a-room style arrangement) within two years of the date of the instrument.