S.L. 364.17 Art. 2Refundable Duty.  Cap. 123.    Cap. 364.   Cap. 364.    S.L. 364.06   S.L. 364.12.  Cap. 364. 2 [S.L.

Notwithstanding any other provision in the Duty on

Documents and Transfers Act, where an individual transfers his residential immovable property (hereinafter referred to as the ''replaced property''), and acquires another residential immovable property (hereinafter referred to as the ''replacement property'') within twelve (12) months from the date of transfer of the replaced property, the duty paid on the first eighty-six thousand euro (€86,000) of the value of the replacement property shall be refunded:

Provided that this article shall only apply where all the following conditions have been satisfied:

(a) the transfer of the replaced property must qualify for tax relief under article 5A(4)(c) of the Income Tax Act;

(b) the replaced property must have been acquired by way of a transfer that qualified for relief under article 32(4)(a)

of the Duty on Documents and Transfers Act;

(c) the acquisition of the replacement property must qualify for duty relief under article 32(4)(a) of the Duty on

Documents and Transfers Act. Acquisitions made through a gratuitous title in accordance with rule 3(2) of the Duty on

Documents and Transfers Rules are excluded;

(d) if the replaced property had qualified for an exemption under article 3 of the Exemption of Duty in Terms of

Article 23 Order or under article 32C of the Duty on Documents and Transfers Act, five (5) years must have elapsed on the date of acquisition of the replacement property;

*

(e) the individual must not have owned any other residential immovable property acquired through a transfer inter vivos before the acquisition of the replacement property,

*In force as from 10th October 2017. IMMOVABLE PROPERTY TO BE USED AS SOLE 364.17 RESIDENCE (EXEMPTION) other than the replaced property. For the purpose of articles 3 and 4, the individual must not own any other residential immovable property at the time of acquisition of the replacement property, other than the replaced property. For the purpose of this sub-article "residential immovable property" includes also a plot of land or airspace;

(f) the transfer of the replaced property must be made within twelve (12) months from the acquisition of the replacement property.