179   Exemptions

(1)  A lease instrument for any of the following leases is not chargeable with duty under this Chapter:

(a)  a lease for a term of less than one year whose total cost is not more than:

(i)  $3,000—if the date of first execution of the lease is before 1 July 2001, or

(ii)  $20,000—if the date of first execution of the lease is on or after 1 July 2001,

(b)  a lease for a term of one year or more whose total cost is not more than:

(i)  $3,000 per year—if the date of first execution of the lease is before 1 July 2001, or

(ii)  $20,000 per year—if the date of first execution of the lease is on or after 1 July 2001,

(c)  a lease granted by or on behalf of a corporation, society or institution if:

(i)  the purpose of the lease is to grant a retired person or a disabled person the right to occupy residential accommodation, and

(ii)  the lease has not been granted for the purpose of profit by the lessor,

(d)  a lease of premises to the Home Care Service of New South Wales,

(e)  a lease executed in accordance with Part V of the Commonwealth National Health Act 1953.

(2)  Duty under this Chapter is not chargeable on a lease instrument on:

(a)  so much of the cost of a residential lease as relates to premises used, or intended to be used, exclusively as a residence, or

(b)  so much of the cost of a lease of a moveable dwelling site used, or intended to be used, as the principal place of residence of the lessee.