People claiming exemptions on foreign dutiable transactions must lodge a notice if they fail to meet exemption requirements within the required period; this must be done within two months of the required period ending.

Failure to lodge this notice carries a 0,000 fine.

Foreign transfer duty is not charged on land parcels if specific requirements are met within 2 or 5 years of the transaction.

First home owners pay no duty on properties without a home valued up to 50,000; they pay 0.14 per 00 for values between 50,001 and 50,000.

The law creates a new category for concessional pre-construction agreements for lots in land schemes where a new dwelling will be built.

Foreign transfer duty is not charged on land if the owner builds or refurbishes 10 or more dwellings within five years.

The government can now set concessional duty rates for first home owners through regulations.

Regulations for first home owners cannot raise duty above the maximum amount set in the law.