30   Partitions

(1) What is a partition?
For the purposes of this section, a partition occurs when dutiable property comprised of land in New South Wales that is held by persons jointly (as joint tenants or tenants in common) is transferred or agreed to be transferred to one or more of those persons.

(2) Single dutiable transaction
For the purposes of this section and sections 16 and 18, a partition is taken to be a single dutiable transaction.

(3) Dutiable value
The dutiable value of a partition is the greater of:

(a)  the sum of the amounts by which the unencumbered value of the dutiable property transferred, or agreed to be transferred, to a person by the partition exceeds the unencumbered value of the interest held by the person in the dutiable property transferred, or agreed to be transferred, to each person by the partition immediately before the partition, and

(b)  the sum of any consideration for the partition paid by any of the parties.

(3A)  (Repealed)

(4) Minimum duty
The minimum duty chargeable on a transaction that effects a partition is $50.

(5) Who is liable to pay the duty?
Duty charged by this section is payable by the persons making the partition or any one or more of them.

(6) Anti-avoidance criteria
This section does not apply in respect of a partition if the Chief Commissioner is satisfied that the partition is part of a scheme to avoid duty on an exchange of land that was not jointly held by the parties before the scheme was entered into.