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Home / Simons-Taxes /Business tax /Part B6 Property income and taxes /Division B6.7 Annual tax on enveloped dwellings (ATED) /ATED—acquisitions and disposals / B6.736 ATED—acquisitions and disposals by contract and conveyance
Commentary

B6.736 ATED—acquisitions and disposals by contract and conveyance


Business tax

This article discusses the ATED consequences where an SDI is acquired or disposed of in a transaction involving a contract followed by a conveyance.

The purchaser under the contract

Where a person ('P') enters into a contract or other agreement under which1:

  1. Ìý

    •ÌýÌýÌýÌý P is to acquire a chargeable interest in or over land that consists of or includes a dwelling, and

  2. Ìý

    •ÌýÌýÌýÌý the acquisition is to be completed by a conveyance or other instrument,

P is not regarded as acquiring any chargeable interest by reason of entering into the contract.

For these purposes, 'completion' means the completion of the acquisition proposed, whether

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