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Last updated 11.09.2024

YOUR LAND

Upon settlement of Contracts of Sale, which are expected to be entered into shortly pursuant to “Deed of Cancellation and Replacement Contracts – Lots 55 and 56 at South Point”, you will become the owner of Lots 55 & 56 on proposed Plan of Subdivision PS845121A (Your Land).The Contracts of Sale will be dated / entered after 1 July 2024.

Your Land is part of the land contained in Certificates of Title Volume 8060 Folio 150 and Volume 7413 Folio 419 (Site Titles). Your Land will be created upon the registration of proposed Plan of Subdivision PS845121A, which will extinguish the Site Titles and create a Certificate of Title for each lot, including for Lots 55 & 56 (collectively, the Parent Titles).

The Site Land has been designated “301” for its AVPCC, and this designation is not expected to be changed.

CIPT / DUTY

Your Land has a ‘qualifying use’, by being within the 300s of the AVPCC [Industrial].

Your acquisitions of Your Land will be ‘entry transactions’, with Your Land being brought within the CIPT regime on the settlement dates – duty will apply to Your Land for a final time upon completion of your acquisition, with the duty payable by you.

You intend on developing Your Land, which will include its subdivision and off-the-plan sales. Upon registration of the subdivision of Your Land, the Parent Titles will be extinguished and Certificates of Title will be created for each Lot (collectively, the Child Titles). The land contained in the Child Titles is taken to have been brought within the CIPT regime on the date that the land contained within the Parent Titles was brought within the CIPT regime.