Home > Regions > Asia Pacific > Chatswood Transport Interchange case reveals call option risks for unwary purchasers

Chatswood Transport Interchange case reveals call option risks for unwary purchasers

In a sobering decision by the Supreme Court of New South Wales in CTI Joint Venture Company Pty Ltd v Chief Commissioner of State Revenue [2013] NSWSC 20, the development community has been reminded that the Chief Commissioner of State Revenue is looking closely at the manner in which third party purchasers acquire land under call options where the consideration (typically in the form of a nomination fee) is paid by the third party purchaser. More…