Duties Act 2001

Duties Act 2001

An Act to create and charge a number of duties

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

Chapter 1 - Preliminary

PART 1 - Administration

1.   Short title

This Act may be cited as the Duties Act 2001 .

2.   Commencement

This Act commences on 1 July 2001.

PART 2 - General

3.   Interpretation

In this Act –

Act imposing duty means –

(a) a corresponding Act; or

(b) an Act to which the Taxation Administration Act 1997 applies;

[Section 3 Amended by No. 24 of 2002, s. 4, Applied:01 Jul 2002]

advance means an advance referred to in section 140 ;

annuity has the meaning given by section 174(6) ;

application to register a motor vehicle means –

(a) an application under the Vehicle and Traffic Act 1999 to register a motor vehicle; and

(b) an application under the Vehicle and Traffic Act 1999 to transfer the registration of a motor vehicle;

approved means approved by the Commissioner;

associated person means a person who is associated with another person in accordance with any of the following provisions:

(a) persons are associated persons if they are related persons;

(b) natural persons are associated persons if they are partners in a partnership to which the Partnership Act 1891 applies;

(c) private companies are associated persons if common shareholders have a majority interest in each private company;

(d) trustees are associated persons if any person is a beneficiary common to the trusts (not including a public unit trust scheme) of which they are trustees;

(e) [Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] a private company and a trustee are associated persons if a related body corporate of the company (within the meaning of the Corporations Act) is a beneficiary of the trust (not including a public unit trust scheme) of which the trustee is a trustee;

(f) a public company and another person are associated persons if the person is a subsidiary of that public company;

(g) persons are associated persons if they are acting in concert;

Australian jurisdiction means a State or Territory of the Commonwealth;

[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] Australian register has the same meaning as in the Corporations Act;

Australian Stock Exchange means the Australian Stock Exchange Limited;

bankrupt includes applying to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounding with creditors or making an assignment of remuneration for their benefit;

beneficiary of a discretionary trust means a person referred to in section 63(1) ;

building includes –

(a) a part of a building; and

(b) a building attached to or conjoined with another building; and

(c) a flat or home unit;

[Section 3 Amended by No. 22 of 2005, s. 15, Applied:01 Jul 2008]

[Section 3 Amended by No. 40 of 2006, s. 4, Applied:18 Dec 2006] call option means a right, conferred by an agreement or arrangement, to acquire dutiable property;

[Section 3 Amended by No. 40 of 2006, s. 4, Applied:18 Dec 2006] call option assignment means the assignment of a right, under a put and call option, to acquire dutiable property;

[Section 3 Amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 3 Amended by No. 36 of 2004, s. 4, Applied:01 Dec 2004]

[Section 3 Amended by No. 36 of 2004, s. 4, Applied:01 Dec 2004] caring partner, in relation to a person, means the person who is in a caring relationship with that person, being a caring relationship that –

(a) is the subject of a deed of relationship registered under Part 2 of the Relationships Act 2003 ; or

(b) is declared to exist by virtue of a declaration of the Supreme Court in force under Part 7 of that Act;

certificate of premium paid means a certificate referred to in section 221(1) ;

charge includes impose;

[Section 3 Amended by No. 24 of 2002, s. 4, Applied:01 Jul 2002]

Commissioner means the Commissioner of State Revenue appointed as such under the Taxation Administration Act 1997 ;

company title dwelling means a separate dwelling in a building containing more than one separate dwelling situated on land in Tasmania owned or leased by a company in which shares issued by the company are owned by persons who, by virtue of the ownership of their shares, have an exclusive right to occupy a part of the building;

complying approved deposit fund means an entity that is a complying approved deposit fund in accordance with section 43 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth;

complying superannuation fund means –

(a) an entity that is a complying superannuation fund in accordance with section 42 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth; and

(b) an exempt public sector superannuation scheme;

corporation means a body corporate, whether incorporated in this jurisdiction or elsewhere;

corresponding Act means an Act of another Australian jurisdiction that corresponds to this Act;

[Section 3 Amended by No. 8 of 2008, s. 4, Applied:02 May 2008] day-procedure centre means premises at which a person is admitted for medical treatment and discharged on the same day, but does not include –

(a) such premises conducted by or on behalf of the State or the Commonwealth; or

(b) a hospital or other health service conducted by or on behalf of the State or the Commonwealth; or

(c) a private hospital; or

(d) a residential care service;

declaration of trust means a declaration of trust referred to in section 6(3) ;

[Section 3 Amended by No. 6 of 2010, s. 8, Applied:08 Oct 2008] de facto relationship has the same meaning as in the Family Law Act 1975 of the Commonwealth;

[Section 3 Amended by No. 6 of 2010, s. 8, Applied:08 Oct 2008] [Section 3 Amended by No. 40 of 2012, s. 4, Applied:22 Nov 2012]

[Section 3 Amended by No. 40 of 2012, s. 4, Applied:22 Nov 2012] de facto relationship property means –

(a) property of the parties to a de facto relationship or of either of them; or

(b) property held by a related person of the parties to a de facto relationship or of either of them; or

(c) any estate or interest in the property referred to in paragraph (a) or (b) of this definition;

[Section 3 Amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004]

discretionary trust means a trust under which the vesting of the whole or any part of the capital of the trust estate, or the whole or any part of the income from that capital, or both –

(a) is required to be determined by a person either in respect of the identity of the beneficiaries, or the quantum of interest to be taken, or both; or

(b) will occur if a discretion conferred under the trust is not exercised; or

(c) has occurred but under which the whole or any part of that capital or the whole or any part of that income, or both, will be divested from any person or persons in whom it is vested if a discretion conferred under the trust is exercised;

dutiable property has the meaning given by section 9 ;

dutiable proportion means a proportion referred to in section 149(2) ;

dutiable transaction has the meaning given by section 6(2) ;

dutiable value, in relation to dutiable property, has the meaning given by section 18 ;

dutiable value, in relation to a motor vehicle, has the meaning given by section 198 ;

eligible rollover fund means an entity that is an eligible rollover fund in accordance with section 242 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth and includes an entity the trustee of which is satisfied will be an eligible rollover fund within 12 months after the date on which a liability to duty arises (or would otherwise arise);

[Section 3 Amended by No. 24 of 2002, s. 4, Applied:01 Jul 2002]

exempt acquisition means an acquisition referred to in section 72(1) ;

exemption certificate means a certificate of exemption in force under Part 3 of Chapter 8 ;

farming company means a company –

(a) [Section 3 Amended by No. 121 of 2001, s. 4, Applied:01 Jul 2001] the shares of which are not quoted on the Australian Stock Exchange or a recognised stock exchange; and

(b) that has assets including farming property;

farming property means –

(a) land used solely or principally for the business of primary production; or

(b) personal property which is used solely or principally in connection with the business of primary production;

financial corporation has the meaning given by section 154(4) ;

[Section 3 Amended by No. 82 of 2009, s. 5, Applied:11 Dec 2009]

general insurance has the meaning given by section 163 ;

general insurer means a person referred to in section 178(2) ;

GST has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth except that it includes notional GST of the kind for which payments may be made under section 7 of the National Taxation Reform (Commonwealth-State Relations) Act 1999 by a person who is a State entity within the meaning of that Act;

[Section 3 Amended by No. 18 of 2007, s. 4, Applied:01 Oct 2007] [Section 3 Amended by No. 30 of 2013, Sched. 1, Applied:10 Feb 2014] heavy vehicle has the same meaning as in the Heavy Vehicle National Law (Tasmania) Act 2013 , but does not include a camper van within the meaning of that Act;

[Section 3 Amended by No. 24 of 2002, s. 4, Applied:01 Jul 2002]

home means a private dwelling and includes a private dwelling which is a company title dwelling and a farming property on which a private dwelling is erected;

instrument includes a written document and a written statement;

insurance includes assurance;

insurance against accident means insurance referred to in section 172(2) ;

[Section 3 Amended by No. 3 of 2006, s. 4, Applied:26 Jun 2006]

[Section 3 Amended by No. 3 of 2006, s. 4, Applied:26 Jun 2006] insurance intermediary means –

(a) a person who arranges contracts of insurance in Tasmania –

(i) for reward; or

(ii) as an agent for a person carrying on a business of insurance; or

(b) a financial services licensee (as defined in section 761A of the Corporations Act 2001 of the Commonwealth) whose licence covers the arrangement of contracts of insurance as an agent for a person carrying on a business of insurance; or

(c) a regulated principal (as defined in section 1430 of the Corporations Act 2001 of the Commonwealth) when carrying on business as an insurance broker as regulated by Subdivision D of Division 1 of Part 10.2 of that Act;

insurer has the meaning given by section 178(1) ;

[Section 3 Amended by No. 22 of 2005, s. 15, Applied:01 Jul 2008]

interest includes an estate or proprietary right;

interest, in a land-rich corporation, has the meaning given by section 64(1) ;

land includes a stratum;

land holding means an interest in land as referred to in section 61 ;

land use entitlement means an entitlement to occupy land within Tasmania conferred through an ownership of shares in a company or an ownership of units in a unit trust scheme, or a combination of a shareholding or ownership of units together with a lease or licence;

[Section 3 Amended by No. 24 of 2002, s. 4, Applied:01 Jul 2002] [Section 3 Amended by No. 60 of 2002, s. 4, Applied:01 Jul 2002]

[Section 3 Amended by No. 60 of 2002, s. 4, Applied:01 Jul 2002] lease means –

(a) a lease of land in Tasmania or an agreement for a lease of land in Tasmania; or

(b) an agreement (such as a licence) by which a right to use land in Tasmania at any time and for any purpose is conferred on or acquired by a person;

[Section 3 Amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] licensed motor vehicle trader means a person who holds a motor vehicle trader licence under the Motor Vehicle Traders Act 2011 ;

[Section 3 Amended by No. 82 of 2009, s. 5, Applied:11 Dec 2009]

life company has the same meaning as in the Life Insurance Act 1995 of the Commonwealth;

life insurance has the meaning given by section 172(1) ;

[Section 3 Amended by No. 121 of 2001, s. 4, Applied:01 Jul 2001] loan-backed security means –

(a) an instrument or property creating, conferring or comprising a right or interest (whether described as a unit, bond or otherwise) of, or on, a beneficiary in a scheme under which any profit, distribution of capital or income in which beneficiaries participate arises from the acquisition, holding, management or disposal of a pool of loans, or any instrument which evidences such a right or interest; or

(b) a debt security –

(i) the payments under which by the person that issues or makes the instrument are derived substantially from the acquisition, holding, management or disposal of a pool of loans; and

(ii) that is secured by a mortgage or charge over a pool of loans; or

(c) an instrument of a class or description of instruments or property of a class or description of property prescribed to be a loan-backed security;

majority interest, in a private corporation, means an interest referred to in section 64(2) ;

majority shareholder in a private company means –

(a) in the case of a company the voting shares in which are not divided into classes, a person entitled to not less than 50% of those shares; and

(b) in the case of a company the voting shares in which are divided into classes, a person entitled to not less than 50% of the shares in one of those classes;

[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] managed investment scheme means a managed investment scheme within the meaning of Chapter 5C of the Corporations Act, and includes a public unit trust scheme;

market value, in relation to a motor vehicle, means the amount for which the motor vehicle might reasonably be sold, free of encumbrances, on the open market;

[Section 3 Amended by No. 24 of 2002, s. 4, Applied:01 Jul 2002]

marriage includes a purported marriage that is void;

[Section 3 Amended by No. 40 of 2012, s. 4, Applied:22 Nov 2012]

[Section 3 Amended by No. 40 of 2012, s. 4, Applied:22 Nov 2012] matrimonial property means –

(a) property of the parties to a marriage or of either of them; or

(b) property held by a related person of the parties to a marriage or of either of them; or

(c) any estate or interest in the property referred to in paragraph (a) or (b) of this definition;

[Section 3 Amended by No. 8 of 2008, s. 4, Applied:02 May 2008] medical establishment means –

(a) a day-procedure centre; or

(b) a private hospital; or

(c) a residential care service;

[Section 3 Amended by No. 47 of 2011, s. 4, Applied:07 Dec 2011] mineral tenement has the meaning it has in the Mineral Resources Development Act 1995 ;

[Section 3 Amended by No. 60 of 2002, s. 4, Applied:01 Jul 2001]

[Section 3 Amended by No. 60 of 2002, s. 4, Applied:01 Jul 2001] mortgage  –

(a) subject to paragraph (b) , has the meaning given by section 139 ; and

(b) for the purposes of sections 227A and 227C and the definitions of "mortgage-backed security" and "pool of mortgages", means a mortgage of any estate or interest in land, including a leasehold estate or interest in land, whether the land is situated in Tasmania or elsewhere, and includes a charge over any such land;

[Section 3 Amended by No. 121 of 2001, s. 4, Applied:01 Jul 2001] [Section 3 Amended by No. 82 of 2009, s. 5, Applied:11 Dec 2009]

[Section 3 Amended by No. 121 of 2001, s. 4, Applied:01 Jul 2001] mortgage-backed security means –

(a) an interest in a trust that entitles the holder of, or beneficial owner under, the interest –

(i) to the whole or any part of the rights or entitlements of a mortgagee and any other rights or entitlements in respect of a mortgage or any money payable by the mortgagor under the mortgage (whether the money is payable to the holder or beneficial owner on the same terms and conditions as under the mortgage or not); or

(ii) to the whole or any part of the rights or entitlements of a mortgagee and any other rights or entitlements in respect of a pool of mortgages or any money payable by mortgagors under those mortgages (whether the money is payable to the holder or beneficial owner on the same terms and conditions as under the mortgages or not); or

(iii) to payments that are derived substantially or to any prescribed extent from the income or receipts of a pool of mortgages –

and that, in addition, may entitle the holder or beneficial owner to a transfer or assignment of the mortgage or mortgages; or

(b) a debt security (whether or not in writing), the payments under which by the person who issues or makes the debt security are derived substantially or to a prescribed extent from the income or receipts of a pool of mortgages; or

(c) any of the following:

(i) an interest in a trust creating, conferring or comprising a right or interest (whether described as a unit, bond or otherwise) of, or on, a beneficiary in a scheme under which any profit or income in which the beneficiaries participate arises from the acquisition, holding, management or disposal of prescribed property, or any instrument that evidences such a right or interest;

(ii) a security (whether or not in writing), the payments under which by the person who issues or makes the security are derived substantially from the income or receipts of prescribed property;

(iii) an interest in a trust, a debt security (whether or not in writing), an instrument or property that creates an interest in or charge over an interest in a trust, a debt security (whether or not in writing) or other instrument or property to which paragraph (a) or (b) or subparagraph (i) or (ii) of this paragraph applies –

but does not include an instrument or property comprising –

(d) a mortgage; or

(e) the transfer of a mortgage; or

(f) a declaration of trust; or

(g) an instrument of a class or description of instruments or property of a class or description of property prescribed not to be a mortgage-backed security;

[Section 3 Amended by No. 121 of 2001, s. 4, Applied:01 Jul 2001] [Section 3 Amended by No. 82 of 2009, s. 5, Applied:11 Dec 2009]

motor dealer means a person carrying on the business of dealing in motor vehicles;

motor vehicle means a motor vehicle or trailer within the meaning of the Vehicle and Traffic Act 1999 ;

[Section 3 Amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] motor vehicle trader licence has the same meaning as in the Motor Vehicle Traders Act 2011 ;

new motor vehicle means a motor vehicle that has not previously been registered under the Vehicle and Traffic Act 1999 or the law of another Australian jurisdiction;

partnership interest has the meaning given by section 9(1)(i) ;

[Section 3 Amended by No. 6 of 2010, s. 8, Applied:08 Oct 2008] party to a de facto relationship means a person who lives, or has lived, in a de facto relationship;

party to a marriage includes a person who was a party to a marriage that was dissolved or annulled in Australia or elsewhere;

passenger vehicle means a passenger vehicle referred to in section 197(4) ;

[Section 3 Amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] personal relationship has the same meaning as in the Relationships Act 2003 ;

policy of mortgage insurance means a policy of mortgage insurance referred to in section 171(3) ;

[Section 3 Amended by No. 121 of 2001, s. 4, Applied:01 Jul 2001] pool of mortgages means a pool or collection of assets –

(a) that is comprised solely of mortgages; or

(b) that is comprised substantially or to a prescribed extent of mortgages or of money paid pursuant to mortgages (whether or not that money has been invested in prescribed property) or of money (whether or not that money has been invested in prescribed property) if the primary investment policy is to invest in mortgages, but that may also contain either or both of the following:

(i) prescribed property;

(ii) any other property that forms part of the pool or collection of assets for the purpose of issuing or making a mortgage-backed security in relation to the pool of mortgages;

pooled superannuation trust means an entity that is a pooled superannuation trust in accordance with section 44 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth;

premium, in relation to general insurance, means a premium referred to in section 164 ;

primary production means –

(a) the cultivation of land for the purpose of selling the produce of the cultivation; or

(b) the maintenance of animals for the purpose of selling them or their natural increase or bodily produce; or

(c) the keeping of bees for the purpose of selling their honey; or

(d) the production from a nursery; or

(e) the propagation for sale of mushrooms or flowers; or

(f) an undertaking relating to planting or tending trees with a view to selling the trees or timber obtained from those trees; or

(g) the breeding of horses;

private company means a company –

(a) that is not limited by shares; or

(b) whose shares are not quoted on the Australian Stock Exchange or a recognised stock exchange;

private corporation has the meaning given by section 59 ;

[Section 3 Amended by No. 60 of 2002, s. 4, Applied:01 Jul 2002] [Section 3 Amended by No. 8 of 2008, s. 4, Applied:02 May 2008]

[Section 3 Amended by No. 8 of 2008, s. 4, Applied:02 May 2008] private hospital means premises at which a person is provided for fee, gain or reward with medical, surgical or other treatment, or accommodation for the purposes of such treatment, and with ancillary nursing care but does not include –

(a) such premises conducted by or on behalf of the State or the Commonwealth; or

(b) a day-procedure centre; or

(c) a residential care service;

private unit trust scheme means a unit trust scheme that is not a public unit trust scheme;

property means real property and personal property;

property transferred includes property referred to in Column 2 of the table in section 7 ;

[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] public company means a public company within the meaning of the Corporations Act;

[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001]

[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] public unit trust scheme means a unit trust scheme –

(a) any of the units of which are listed for quotation on the Australian Stock Exchange or on a recognised stock exchange; or

(b) that is an undertaking to which Division 11 of Part 11.2 of the Corporations Law (as continued in effect by section 1408 of the Corporations Act 2001 of the Commonwealth) applies and in respect of which –

(i) some or all of the units have been offered to the public; and

(ii) no fewer than 50 persons hold units in it; or

(c) that was (or would have been) exempted from the requirements of Part 7.12 of the Corporations Law (as in force immediately before its repeal) and in respect of which –

(i) some or all of the units have been offered to the public; and

(ii) no fewer than 50 persons hold units in it; or

(d) that is a managed investment scheme within the meaning of Chapter 5C of the Corporations Act 2001 of the Commonwealth and in respect of which –

(i) some or all of the units have been offered to the public; and

(ii) no fewer than 50 persons hold units in it; or

(e) that, in the opinion of the Commissioner, will satisfy paragraph (a) , (b) , (c) or (d) within 12 months after the Commissioner gives written notice of that opinion to a person who has requested the Commissioner to express that opinion in relation to the unit trust scheme;

[Section 3 Amended by No. 40 of 2006, s. 4, Applied:18 Dec 2006] put and call option means an agreement or arrangement that provides for both a call option and a put option in respect of the same dutiable property;

[Section 3 Amended by No. 40 of 2006, s. 4, Applied:18 Dec 2006] put option means a right, conferred by an agreement or arrangement, to require a person to acquire dutiable property;

recognised stock exchange means –

(a) [Section 3 Amended by No. 36 of 2004, s. 4, Applied:01 Dec 2004] a stock exchange that is a member of the World Federation of Exchanges; or

(b) [Section 3 Amended by No. 8 of 2008, s. 4, Applied:02 May 2008]

(c) a stock exchange declared to be a recognised stock exchange under section 254 ;

registered insurer means an insurer registered under Part 3 of Chapter 7 ;

[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] related body corporate has the same meaning as in the Corporations Act;

related corporation has the meaning given by section 154(4) ;

related person means a person who is related to another person in accordance with any of the following provisions:

(a) natural persons are related persons if –

(i) [Section 3 Amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] one is the spouse or caring partner of the other; or

(ii) [Section 3 Amended by No. 46 of 2008, s. 4, Applied:18 Nov 2008] the relationship between them is that of a grandparent and grandchild, a parent and child, brothers, sisters, or brother and sister;

(b) [Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] private companies are related persons if they are related bodies corporate within the meaning of the Corporations Act;

(c) [Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] a natural person and a private company are related persons if the natural person is a majority shareholder or director of the company or of another private company that is a related body corporate of the company within the meaning of the Corporations Act;

(d) a natural person and a trustee are related persons if the natural person is a beneficiary of the trust (not being a public unit trust scheme) of which the trustee is a trustee;

(e) a private company and a trustee are related persons if the company, or a majority shareholder or director of the company, is a beneficiary of the trust (not being a public unit trust scheme) of which the trustee is a trustee;

[Section 3 Amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 3 Amended by No. 36 of 2004, s. 4, Applied:01 Dec 2004] [Section 3 Amended by No. 40 of 2012, s. 4, Applied:22 Nov 2012]

[Section 3 Amended by No. 40 of 2012, s. 4, Applied:22 Nov 2012] relationship property, in relation to a personal relationship, means –

(a) property of the parties to the personal relationship or of either of them; or

(b) property held by a related person of the parties to the personal relationship or of either of them; or

(c) any estate or interest in the property referred to in paragraph (a) or (b) of this definition;

relative means a person referred to in section 225(3) ;

relevant acquisition means an acquisition referred to in section 67 ;

replica has the meaning given by section 220(4) ;

[Section 3 Amended by No. 8 of 2008, s. 4, Applied:02 May 2008] residential care service means premises where accommodation and personal care or nursing are provided to an elderly person who is not a member of the immediate family of the proprietor of the service, but does not include a service providing accommodation for persons otherwise living independently, even though the provision of accommodation may or may not include domestic services such as the preparation of meals, cleaning services and laundry services;

[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] responsible entity, in relation to a managed investment scheme, has the same meaning as in the Corporations Act;

right, in relation to shares or units, means any right (whether actual, prospective or contingent) of a person to have shares or units issued by a company or trust to the person, whether or not on payment of money or for other consideration, but does not include a convertible note;

shares includes rights to shares;

[Section 3 Amended by No. 36 of 2004, s. 4, Applied:01 Dec 2004] significant relationship has the same meaning as in the Relationships Act 2003 ;

[Section 3 Amended by No. 47 of 2011, s. 4, Applied:07 Dec 2011] special disability trust has the meaning it has in section 1209L of the Social Security Act 1991 of the Commonwealth;

[Section 3 Amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 3 Amended by No. 36 of 2004, s. 4, Applied:01 Dec 2004] spouse, in relation to a person, includes the person who is in a significant relationship with that person;

[Section 3 Amended by No. 31 of 2012, s. 8, Applied:01 May 2013] surrogate child, in relation to another person, means a person –

(a) who is a child of the other person by virtue of the operation of section 26(1) of the Surrogacy Act 2012 , or a law, of another State or a Territory or a foreign country, that corresponds to that Act; and

(b) who has not ceased to be a child of the other person under that Act or law;

[Section 3 Amended by No. 24 of 2002, s. 4, Applied:01 Jul 2002] [Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001]

[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] Tasmanian company means –

(a) a company incorporated or taken to be incorporated under the Corporations Act that is taken to be registered in Tasmania; or

(b) any other body corporate that is incorporated under a Tasmanian Act;

[Section 3 Amended by No. 46 of 2008, s. 4, Applied:18 Nov 2008]

trailer means a trailer as defined in the Vehicle and Traffic Act 1999 ;

transferee includes a person referred to in Column 3 of the table in section 7 ;

unencumbered value has the meaning given by section 20 ;

unit, in relation to a unit trust scheme, means –

(a) a right or interest (whether described as a unit or a sub-unit or otherwise) of a beneficiary under the scheme; or

(b) a right to any such right or interest;

unit trust scheme means any arrangements made for the purpose, or having the effect, of providing, for persons having funds available for investment, facilities for the participation by them, as beneficiaries under a trust, in any profits, income or distribution of assets arising from the acquisition, holding, management or disposal of any property whatever pursuant to the trust;

[Section 3 Amended by No. 24 of 2002, s. 4, Applied:01 Jul 2002]

4.   Meaning of child for purpose of definition of related person

[Section 4 Repealed by No. 60 of 2002, s. 5, Applied:01 Jul 2002] [Section 4 Inserted by No. 46 of 2008, s. 5, Applied:18 Nov 2008] [Section 4 Substituted by No. 31 of 2012, s. 9, Applied:01 May 2013] For the purpose of the definition of related person in section 3 , a person is the child of another person if the person is –

(a) a natural child of the other person who has not ceased to be a child of the person by virtue of the operation of section 26(1) of the Surrogacy Act 2012 or a law, of another State or a Territory or a foreign country, that corresponds to that Act; or

(b) a step-child of the person; or

(c) an adopted child of the person; or

(d) a surrogate child of the person.

5.   Act read together with Taxation Administration Act 1997

This Act is to be read together with the Taxation Administration Act 1997 .

Chapter 2 - Transactions concerning dutiable property

PART 1 - Introduction and overview

6.   Imposition of duty on certain transactions concerning dutiable property

(1)  This Chapter charges duty on –

(a) a transfer of dutiable property; and

(b) the following transactions:

(i) [Section 6 Subsection (1) amended by No. 35 of 2009, s. 4, Applied:01 Jul 2009] .  .  .  .  .  .  .  .  

(ii) [Section 6 Subsection (1) amended by No. 8 of 2008, s. 5, Applied:02 May 2008] a declaration of trust;

(iii) a grant or surrender of an interest in land in Tasmania;

(iv) a foreclosure of a mortgage over dutiable property;

(v) [Section 6 Subsection (1) amended by No. 36 of 2004, s. 5, Applied:01 Dec 2004] [Section 6 Subsection (1) amended by No. 46 of 2008, s. 6, Applied:18 Nov 2008] [Section 6 Subsection (1) amended by No. 35 of 2009, s. 4, Applied:01 Jul 2009] an application for the amendment of a strata plan, made in accordance with Division 6 of Part 2 of the Strata Titles Act 1998 ;

(vi) [Section 6 Subsection (1) amended by No. 36 of 2004, s. 5, Applied:01 Dec 2004] [Section 6 Subsection (1) amended by No. 35 of 2009, s. 4, Applied:01 Jul 2009] any other transaction that results in a change of beneficial ownership of dutiable property; and

(c) [Section 6 Subsection (1) amended by No. 36 of 2004, s. 5, Applied:01 Dec 2004] a vesting of dutiable property –

(i) by, or expressly authorised under, a statute of this State or any other jurisdiction, whether in Australia or elsewhere; or

(ii) by, or under, an order of a court of this State or any other jurisdiction, whether in Australia or elsewhere.

(2)  [Section 6 Subsection (2) amended by No. 36 of 2004, s. 5, Applied:01 Dec 2004] Such a transfer, transaction or vesting is a dutiable transaction for the purposes of this Act.

(2A)  [Section 6 Subsection (2A) inserted by No. 36 of 2004, s. 5, Applied:01 Dec 2004] For the purposes of, but without limiting, subsection (1)(c)(i)  –

(a) property is vested by or under a statute if the statute vests the property in an entity that is the successor in law to or continuation of, or the same entity as, the entity in which the property was formerly vested; but

(b) property is not vested by or under a statute on the registration of a company under Part 5B.1 of Chapter 5B of the Corporations Act.

(3)  In this Chapter –

declaration of trust means any declaration (other than by a will or testamentary instrument) that any identified property vested or to be vested in the person making the declaration is or is to be held in trust for the person or persons, or the purpose or purposes, mentioned in the declaration although the beneficial owner of the property, or the person entitled to appoint the property, may not have joined in or assented to the declaration;

[Section 6 Subsection (3) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] [Section 6 Subsection (3) amended by No. 60 of 2002, s. 6, Applied:01 Jul 2002] transfer includes an assignment and an exchange.

7.   Imposition of duty on dutiable transactions that are not transfers

(1)  The duty charged by this Chapter on a dutiable transaction referred to in section 6(1)(b) is to be charged as if each such dutiable transaction were a transfer of dutiable property.

(2)  Accordingly, for the purpose of charging duty under this Chapter, in relation to a dutiable transaction specified in Column 1 of the following Table –

(a) the property specified opposite the dutiable transaction in Column 2 is taken to be the property transferred (and a reference in this Act to property transferred includes a reference to such property); and

(b) the person specified opposite the dutiable transaction in Column 3 is taken to be the transferee of the dutiable property (and a reference in this Act to a transferee includes a reference to such a person); and

(c) the transfer of the dutiable property is taken to have occurred at the time specified opposite the dutiable transaction in Column 4 (and a reference in this Act to the time at which a transfer occurs includes a reference to such a time).[Section 7 Subsection (2) amended by No. 35 of 2009, s. 5, Applied:01 Jul 2009]

Column 1 Dutiable transaction	Column 2 Property transferred	Column 3 Transferee	Column 4 When transfer occurs
declaration of trust	the property vested or to be vested in the declarant	the person declaring the trust	when the declaration is made
grant or surrender	the granted or surrendered property	the person to whom the property is granted or surrendered	when the grant or surrender takes place
foreclosure	the mortgaged property	the mortgagee	when the foreclosure order is made
vesting by or as a consequence of court order	the vested property	the person in whom the property is vested	when the vesting occurs
vesting by or as a consequence of statute	the vested property	the person in whom the property is vested	when the vesting occurs
giving, granting or issue of licence	the licence	the person to whom the licence is issued	when the licence is issued
any other transaction that results in a change in beneficial ownership of dutiable property	the property the beneficial ownership of which is changed (but only to the extent of the change in beneficial ownership)	the person who obtains the beneficial ownership or whose beneficial ownership is increased	when beneficial ownership changes

8.   What form must a dutiable transaction take?

It is immaterial whether or not a dutiable transaction is effected by a written instrument or by any other means, including electronic means.

9.   What is dutiable property?

(1)  Dutiable property is any of the following:

(a) land in Tasmania;

(b) [Section 9 Subsection (1) amended by No. 47 of 2011, s. 5, Applied:07 Dec 2011] a mineral tenement;

(c) fixtures to land or a mineral tenement;

(d) a land use entitlement;

(e) [Section 9 Subsection (1) amended by No. 24 of 2002, s. 5, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

(f) [Section 9 Subsection (1) amended by No. 24 of 2002, s. 5, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

(g) [Section 9 Subsection (1) amended by No. 22 of 2005, s. 16, Applied:01 Jul 2008] .  .  .  .  .  .  .  .  

(h) [Section 9 Subsection (1) amended by No. 22 of 2005, s. 16, Applied:01 Jul 2008] .  .  .  .  .  .  .  .  

(i) [Section 9 Subsection (1) amended by No. 22 of 2005, s. 16, Applied:01 Jul 2008] [Section 9 Subsection (1) amended by No. 46 of 2008, s. 17, Applied:01 Jul 2008] a partnership interest, being an interest in a partnership that has partnership property that is dutiable property elsewhere referred to in this section;

(j) [Section 9 Subsection (1) amended by No. 22 of 2005, s. 16, Applied:01 Jul 2008] goods in Tasmania, if the subject of an arrangement that includes a dutiable transaction over any dutiable property elsewhere referred to in this section, not including the following:

(i) goods that are stock-in-trade;

(ii) materials held for use in manufacture;

(iii) goods under manufacture;

(iv) livestock;

(v) [Section 9 Subsection (1) amended by No. 40 of 2006, s. 5, Applied:18 Dec 2006] a registered motor vehicle that is not exempted from motor tax under the Vehicle and Traffic Act 1999 or the Transport Act 1981 ;

(k) [Section 9 Subsection (1) amended by No. 24 of 2002, s. 5, Applied:01 Jul 2002] an option to purchase dutiable property;

(l) an interest in any dutiable property referred to in the preceding paragraphs of this section, except to the extent that –

(i) it arises as a consequence of the ownership of a unit in a unit trust scheme and is not a land use entitlement; or

(ii) [Section 9 Subsection (1) amended by No. 24 of 2002, s. 5, Applied:01 Jul 2002] it is, or is attributable to, an option over dutiable property.

(iii) [Section 9 Subsection (1) amended by No. 24 of 2002, s. 5, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

(2)  [Section 9 Subsection (2) omitted by No. 46 of 2008, s. 7, Applied:18 Nov 2008] .  .  .  .  .  .  .  .  

(3)  [Section 9 Subsection (3) omitted by No. 24 of 2002, s. 5, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

10.   When does a liability for duty arise?

[Section 10 Substituted by No. 35 of 2009, s. 6, Applied:01 Jul 2009] A liability for duty charged by this Chapter arises when a dutiable transaction occurs.

11.   Who is liable to pay the duty?

Duty charged by this Chapter is payable by the transferee, unless this Chapter requires another person to pay the duty.

12.   The liability of joint tenants

For the purpose of assessing duty charged by this Chapter, joint tenants of dutiable property are taken to hold the dutiable property as tenants in common in equal shares.

13.   Necessity for written instrument or written statement

(1)  If a dutiable transaction that is liable to ad valorem duty under this Chapter is not effected by a written instrument, the transferee must make a written statement in a form approved by the Commissioner.

(2)  The written statement must be made within 3 months after the liability arises.

(3)  [Section 13 Subsection (3) amended by No. 40 of 2006, s. 17, Applied:01 Jan 2007] Subject to a special arrangement approved under Part 6 of the Taxation Administration Act 1997 , if a dutiable transaction is completed or evidenced by a written instrument within 3 months after the date on which the dutiable transaction occurs, the requirement to lodge a statement and pay duty in respect of the statement may be satisfied by the lodgment of and payment of duty on the written instrument within 3 months after the date on which the dutiable transaction occurs.

14.   Lodging written instrument or written statement with Commissioner

[Section 14 Amended by No. 40 of 2006, s. 18, Applied:01 Jan 2007] Subject to a special arrangement approved under Part 6 of the Taxation Administration Act 1997 , a transferee who is liable to pay duty in respect of a dutiable transaction must, within 3 months after the liability arises, lodge with the Commissioner –

(a) the written instrument that effects the dutiable transaction or, if there is more than one such written instrument, each one of them as provided by section 16(1) ; or

(b) the written statement made in compliance with section 13 .

15.   When must duty be paid?

A tax default does not occur for the purposes of the Taxation Administration Act 1997 if duty is paid within 3 months after the liability to pay the duty arises.

16.   No double duty

[Section 16 Subsection (1) amended by No. 36 of 2004, s. 20, Applied:01 Jul 2004] [Section 16 Subsection (4) amended by No. 46 of 2008, s. 8, Applied:18 Nov 2008] [Section 16 Subsection (5) amended by No. 36 of 2004, s. 20, Applied:01 Jul 2004] [Section 16 Substituted by No. 35 of 2009, s. 7, Applied:01 Jul 2009]

(1)  [Section 16 Subsection (1) substituted by No. 14 of 2011, s. 4, Applied:28 Jun 2011] If a dutiable transaction is effected by more than one instrument, one instrument is to be stamped with the duty payable on the dutiable transaction and each other instrument is to be stamped with nil duty payable.

(2)  If a dutiable transaction is effected electronically (in accordance with the Electronic Transactions Act 2000 ) in whole or in part and duty has been paid, no further duty is payable in respect of an instrument or electronic transaction that forms part of the dutiable transaction.

(3)  No duty is chargeable under this Chapter on a transfer to a trustee of dutiable property subject to a declaration of trust if ad valorem duty has been paid on the declaration of trust in respect of the same dutiable property.

(4)  No duty is chargeable under this Chapter on a declaration of trust that declares the same trusts as those upon and subject to which the same dutiable property was transferred to the person declaring the trust if ad valorem duty has been paid on the transfer.

17.   What is the rate of duty?

Duty is charged on the dutiable value of the dutiable property subject to the dutiable transaction at the relevant rate set out in Part 3 .

PART 2 - Dutiable value

18.   What is the dutiable value of dutiable property?

(1)  The dutiable value of dutiable property that is subject to a dutiable transaction is the greater of –

(a) the consideration (if any) for the dutiable transaction (being the amount of a monetary consideration or the value of a non-monetary consideration, or both); and

(b) the unencumbered value of the dutiable property.

(2)  The dutiable value of dutiable property transferred by way of foreclosure is the unencumbered value of the dutiable property and not the value of the debt secured by the mortgaged property.

(3)  [Section 18 Subsection (3) amended by No. 60 of 2002, s. 7, Applied:01 Jul 2002] [Section 18 Subsection (3) omitted by No. 22 of 2005, s. 17, Applied:01 Jul 2008] .  .  .  .  .  .  .  .  

(4)  [Section 18 Subsection (4) omitted by No. 22 of 2005, s. 17, Applied:01 Jul 2008] .  .  .  .  .  .  .  .  

19.   What is the consideration for the transfer of dutiable property?

(1)  The consideration for the transfer of dutiable property is taken to include the amount or value of all encumbrances, whether certain or contingent, subject to which the dutiable property is transferred.

(2)  [Section 19 Subsection (2) omitted by No. 35 of 2009, s. 8, Applied:01 Jul 2009] [Section 19 Subsection (2) inserted by No. 41 of 2013, s. 4, Applied:21 Oct 2013] If, as part of an arrangement involving a dutiable transaction over dutiable property, the transferor or an associated person of the transferor agrees, expressly or by implication, with the transferee or an associated person of the transferee –

(a) to effect improvements to the dutiable property before or after the dutiable transaction; and

(b) those improvements are, or will be, required to comply with the Building Act 2000  –

the consideration for the dutiable transaction over the dutiable property includes the consideration given, or agreed to be given, to effect those improvements.

(3)  [Section 19 Subsection (3) omitted by No. 35 of 2009, s. 8, Applied:01 Jul 2009] .  .  .  .  .  .  .  .  

20.   What is the unencumbered value of dutiable property?

(1)  [Section 20 Subsection (1) substituted by No. 35 of 2009, s. 9, Applied:01 Jul 2009] The unencumbered value of dutiable property is the amount for which the property might reasonably have been sold in the open market or as calculated by sections 247 and 248(2) and (2A) , as may be appropriate –

(a) in the case of a transfer of dutiable property on a sale of the property, at the time the agreement for sale was entered into; or

(b) in any other case, at the time the dutiable transaction occurred –

free from any encumbrance to which the property was subject at that time.

(2)  [Section 20 Subsection (2) omitted by No. 35 of 2009, s. 9, Applied:01 Jul 2009] .  .  .  .  .  .  .  .  

(3)  If, before land is transferred to a transferee, the transferee has made improvements to the land, the unencumbered value of the land is to be determined as if those improvements had not been made.

21.   Arrangements that reduce the dutiable value

[Section 21 Substituted by No. 36 of 2004, s. 6, Applied:01 Dec 2004]

(1)  In determining the dutiable value of dutiable property under this Part, any interest, agreement or arrangement (other than an encumbrance) granted or made in respect of the dutiable property that has the effect of reducing the dutiable value is to be disregarded, subject to subsection (2) .

(2)  An interest, agreement or arrangement is not to be disregarded if the Commissioner is satisfied that it was not granted or made as part of an arrangement or scheme with a collateral purpose of reducing the duty otherwise payable on the dutiable transaction.

(3)  In considering whether or not he or she is satisfied for the purposes of subsection (2) , the Commissioner may have regard to –

(a) the duration of the interest, agreement or arrangement before the dutiable transaction; and

(b) whether the interest, agreement or arrangement has been granted to or made with an associated person; and

(c) whether there is any commercial efficacy to the granting of the interest or the making of the agreement or arrangement other than to reduce duty; and

(d) any other matters the Commissioner considers relevant.

22.   Aggregation of dutiable transactions

(1)  Dutiable transactions relating to separate items of dutiable property, or separate parts of, or interests in, dutiable property are to be aggregated and treated as a single dutiable transaction if –

(a) [Section 22 Subsection (1) amended by No. 35 of 2009, s. 10, Applied:01 Jul 2009] either –

(i) in the case of dutiable transactions that are transfers on a sale of an item or part of dutiable property, the agreements for sale are entered into within 12 months; or

(ii) in any other case, the dutiable transactions occur within 12 months; and

(b) the transferee is the same or the transferees are associated persons; and

(c) the dutiable transactions together form, evidence, give effect to or arise from what is, substantially, one arrangement relating to all of the items or parts of, or interests in, the dutiable property.

(2)  Dutiable transactions are not to be aggregated under this section if the Commissioner is satisfied that it would not be just and reasonable to do so in the circumstances.

(2A)  [Section 22 Subsection (2A) inserted by No. 6 of 2010, s. 4, Applied:09 Jul 2010] In considering whether or not he or she is satisfied for the purposes of subsection (2) , it is just and reasonable for the Commissioner to determine that it is appropriate to aggregate a gift that is interdependent with, or forms substantially part of one arrangement with, a transaction of value.

(3)  The dutiable value of aggregated dutiable property is the sum of the dutiable values of the items or parts of, or the interests in, the dutiable property as at the time at which each dutiable transaction occurs.

(4)  The amount of duty payable in accordance with this section is to be reduced by the amount of any ad valorem duty paid on a prior dutiable transaction that is, or prior dutiable transactions that are, aggregated in accordance with this section.

(5)  Duty may be apportioned to the instruments effecting or evidencing the dutiable transactions, or may be charged in accordance with section 16(1) , as determined by the Commissioner.

(6)  [Section 22 Subsection (6) amended by No. 40 of 2006, s. 19, Applied:01 Jan 2007] Subject to a special arrangement approved under Part 6 of the Taxation Administration Act 1997 , a transferee to whom this section applies must disclose to the Commissioner, in writing, at or before the time at which an instrument or statement relating to the dutiable transactions is lodged for stamping, details known to the transferee of –

(a) all of the items or parts of, or interests in, the dutiable property included or to be included in the arrangement referred to in subsection (1) ; and

(b) the consideration for each item or part of, or interest in, that dutiable property.

Penalty:  Fine not exceeding 100 penalty units.

(7)  [Section 22 Subsection (7) omitted by No. 24 of 2002, s. 6, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

23.   Apportionment – dutiable property and other property

(1)  If a dutiable transaction relates to dutiable property and property that is not dutiable property, it is chargeable with duty under this Chapter only to the extent that it relates to dutiable property.

(2)  If a dutiable transaction relates to different types of dutiable property for which different rates of duty are chargeable under this Chapter, the dutiable transaction is chargeable with duty under this Chapter as if a separate dutiable transaction had occurred in relation to each such type of dutiable property.

24.   Certain transactions concerning leases of commercial property

[Section 24 Repealed by No. 22 of 2005, s. 18, Applied:01 Jul 2008] [Section 24 Inserted by No. 47 of 2011, s. 6, Applied:07 Dec 2011]

(1)  The Commissioner, if satisfied that it would not be just and reasonable in the circumstances to charge duty on the dutiable value of all the dutiable property in a dutiable transaction, which transaction –

(a) consists of a grant, surrender or transfer of a lease of a commercial property; and

(b) involves goods that are dutiable property in accordance with section 9(1)(j)  –

may disregard the value of all or any of the goods in determining the dutiable value of the property.

(2)  For the purposes of subsection (1) , a lease of a commercial property is a lease in respect of real property that is to be used for the purposes of a business, whether or not there are premises on the property that may be used in whole or in part as a residence.

(3)  The Commissioner may only exercise the discretion referred to in subsection (1) if satisfied that the dutiable transaction was not structured for the purpose of reducing or avoiding the payment of duty.

25.   Partnership interests

[Section 25 Subsection (3) inserted by No. 40 of 2006, s. 6, Applied:18 Dec 2006] [Section 25 Repealed by No. 22 of 2005, s. 18, Applied:01 Jul 2008] [Section 25 Inserted by No. 46 of 2008, s. 18, Applied:01 Jul 2008]

(1)  The dutiable value of a partnership interest is to be determined in accordance with the following formula:

where –

DV is the dutiable value;

A is the value of the partnership interest, or so much of the consideration for the dutiable transaction as relates to the partnership interest, whichever is the greater;

X is the unencumbered value of all dutiable property of the partnership;

Y is the unencumbered value of all assets of the partnership.

(2)  If the property of a partnership includes a land-related asset and an interest in the land-related asset is transferred as a result of the transfer of a partnership interest, the unencumbered value of all dutiable property of the partnership ("X" in subsection (1) ) is to be reduced by the unencumbered value of the land-related asset, but only if ad valorem duty has been paid or is payable on the transfer of the interest in the land-related asset or if the transfer of the interest in the land-related asset is exempt from duty.

(3)  For the purposes of subsection (2) , each of the following items of dutiable property is a land-related asset:

(a) land in Tasmania;

(b) a land use entitlement;

(c) an interest in an item of dutiable property referred to in paragraph (a) or (b) .

26.   Partitions

(1)  For the purposes of this section, a partition occurs when property (some or all of which is dutiable property) that is held by persons jointly (as joint tenants or tenants in common) and beneficially is transferred or agreed to be transferred to one or more of those persons.

(2)  For the purposes of this section and sections 14 and 16 , a partition is taken to be a single dutiable transaction.

(3)  The dutiable value of a partition is to be determined in accordance with the following formula:

where –

DV is the dutiable value;

A is the sum of the amounts by which the unencumbered value of the property transferred or agreed to be transferred to a person exceeds the unencumbered value of the interest held by the person in that property immediately before the partition, or the sum of any consideration for the partition paid by any of the parties, whichever is the greater;

X is the unencumbered value of all dutiable property the subject of the partition;

Y is the unencumbered value of all property the subject of the partition.

(4)  [Section 26 Subsection (4) omitted by No. 22 of 2005, s. 19, Applied:01 Jul 2008] .  .  .  .  .  .  .  .  

(5)  [Section 26 Subsection (5) amended by No. 41 of 2013, s. 5, Applied:21 Oct 2013] The minimum duty chargeable on a transaction that effects a partition is $50.

(6)  Duty charged by this section is payable by the persons making the partition or any one or more of them.

27.   Effect of alteration in purchase price

[Section 27 Substituted by No. 35 of 2009, s. 11, Applied:01 Jul 2009] If, after an agreement for the sale of dutiable property is entered into and before the property is transferred –

(a) the consideration under the agreement is reduced and the reduced consideration is not less than the unencumbered value of the dutiable property when the consideration was reduced; or

(b) the consideration under the agreement is reduced because the parties have agreed not to transfer some of the dutiable property previously agreed to be transferred and the reduced consideration is not less than the unencumbered value of the dutiable property that remained to be transferred when the consideration was reduced; or

(c) the consideration under the agreement is increased and the dutiable value when the consideration was increased is greater than the dutiable value when the agreement was entered into –

the Commissioner must assess or reassess the liability to duty of the transfer in accordance with the change in the consideration.

28.   Entitlements of joint purchasers

(1)  If any property is agreed to be purchased by 2 or more persons otherwise than as joint tenants, the agreement for the purchase is to specify the part to be taken by each purchaser.

(2)  In the absence of such a specification referred to in subsection (1) , the purchasers are taken to have purchased the property in equal shares.

PART 3 - Rates of duty

29.   General rate

(1)  [Section 29 Subsection (1) substituted by No. 23 of 2012, s. 4, Applied:01 Oct 2012] The rate of duty chargeable on a dutiable transaction is as follows:[Section 29 Subsection (1) amended by No. 41 of 2013, s. 6, Applied:21 Oct 2013]

The dutiable value of the dutiable property subject to the dutiable transaction	Rate of duty
Not more than $3 000	$50
More than $3 000 but not more than $25 000	$50 plus $1.75 for every $100, or part, by which the dutiable value exceeds $3 000
More than $25 000 but not more than $75 000	$435 plus $2.25 for every $100, or part, by which the dutiable value exceeds $25 000
More than $75 000 but not more than $200 000	$1 560 plus $3.50 for every $100, or part, by which the dutiable value exceeds $75 000
More than $200 000 but not more than $375 000	$5 935 plus $4 for every $100, or part, by which the dutiable value exceeds $200 000
More than $375 000 but not more than $725 000	$12 935 plus $4.25 for every $100, or part, by which the dutiable value exceeds $375 000
More than $725 000	$27 810 plus $4.50 for every $100, or part, by which the dutiable value exceeds $725 000

(2)  This rate applies unless other provision is made by this Chapter.

30.   

[Section 30 Repealed by No. 24 of 2002, s. 7, Applied:01 Jul 2002] [Section 30 Inserted by No. 20 of 2004, s. 4, Applied:20 May 2004] [Section 30 Subsection (2) amended by No. 22 of 2005, s. 6, Applied:19 May 2005] [Section 30 Subsection (2) substituted by No. 21 of 2011, s. 4, Applied:16 Jun 2011] [Section 30 Repealed by No. 21 of 2011, s. 7, Applied:16 Dec 2011] .  .  .  .  .  .  .  .  

30A.   

[Section 30A Inserted by No. 19 of 2005, s. 4, Applied:20 May 2004] [Section 30A Subsection (1) amended by No. 21 of 2011, s. 5, Applied:16 Jun 2011] [Section 30A Subsection (1) amended by No. 22 of 2005, s. 7, Applied:19 May 2005] [Section 30A Subsection (2) amended by No. 21 of 2011, s. 5, Applied:16 Jun 2011] [Section 30A Subsection (2) substituted by No. 22 of 2005, s. 7, Applied:19 May 2005] [Section 30A Subsection (2) amended by No. 21 of 2011, s. 5, Applied:16 Jun 2011] [Section 30A Subsection (3A) inserted by No. 22 of 2005, s. 7, Applied:19 May 2005] [Section 30A Repealed by No. 21 of 2011, s. 8, Applied:16 Dec 2011] .  .  .  .  .  .  .  .  

PART 4 - Special provisions

31.   Interim payment of duty

(1)  If the full dutiable value of dutiable property subject to a dutiable transaction cannot, in the Commissioner's opinion, be immediately ascertained, the Commissioner may make an assessment by way of estimate under section 21(2) of the Taxation Administration Act 1997 .

(2)  The written instrument or the written statement required by section 13 may be stamped "interim stamp only".

(3)  [Section 31 Subsection (3) substituted by No. 46 of 2008, s. 9, Applied:18 Nov 2008] The person liable to pay duty is to obtain and provide to the Commissioner, within 3 months of the date of the interim assessment of duty, evidence acceptable to the Commissioner of the dutiable value of the dutiable property and –

(a) is to resubmit the written instrument or written statement to the Commissioner for further assessment; and

(b) the Commissioner must reassess the duty payable on the dutiable transaction.

(4)  If no further duty is payable, the interim stamp is to be cancelled and any amount paid in excess of the amount assessed is to be refunded.

(5)  If further duty is payable, liability for the further duty arises when the notice of assessment issues, despite section 10 .

(6)  On payment of the balance of the duty (and any interest or penalty tax), the written instrument or the written statement required by section 13 is to be stamped with the amount of the balance and marked to indicate that duty has been duly paid.

(7)  [Section 31 Subsection (7) inserted by No. 46 of 2008, s. 9, Applied:18 Nov 2008] The Commissioner may extend the time or period for ascertaining the dutiable value and resubmitting a transaction for further assessment.

(8)  [Section 31 Subsection (8) inserted by No. 46 of 2008, s. 9, Applied:18 Nov 2008] A tax default is taken to have occurred for the purposes of the Taxation Administration Act 1997 if the person liable to pay duty fails to obtain evidence acceptable to the Commissioner of the dutiable value of the dutiable property and resubmit the transaction to the Commissioner for further assessment within 3 months of the date of the interim assessment of duty, subject to subsection (7) .

32.   

[Section 32 Repealed by No. 35 of 2009, s. 12, Applied:01 Jul 2009] .  .  .  .  .  .  .  .  

33.   

[Section 33 Subsection (2) amended by No. 60 of 2002, s. 8, Applied:01 Jul 2002] [Section 33 Repealed by No. 35 of 2009, s. 12, Applied:01 Jul 2009] .  .  .  .  .  .  .  .  

34.   Transfer arising from mortgage of land

[Section 34 Substituted by No. 35 of 2009, s. 13, Applied:01 Jul 2009] If a mortgage also operates as a conveyance of the equity, right of redemption or reversion of the property comprised in the instrument to or in trust for, and according to the direction of, the purchaser, it is chargeable with duty as a transfer under this Chapter, but, if the equity or right of redemption or reversion is thereby conveyed or limited in any other manner, it is not chargeable with duty under this Chapter.

35.   Vesting order

(1)  [Section 35 Subsection (1) amended by No. 46 of 2008, s. 10, Applied:18 Nov 2008] [Section 35 Subsection (1) amended by No. 3 of 2006, s. 5, Applied:26 Jun 2006] [Section 35 Subsection (1) amended by No. 102 of 2001, Sched. 2, Applied:28 Jun 2002] Subject to subsection (4) , a vesting order under the Land Titles Act 1980 is chargeable with the same duty as a transfer of the land the subject of the application as if the dutiable value of the land was the value calculated by multiplying the capital value of the real property as determined under the Valuation of Land Act 2001 by an amount representing the latest estimated trend in capital values as advised by the Valuer-General before the date of the dutiable transaction relating to that property.

(2)  Subsection (1) does not apply if the person applying for the vesting order has paid ad valorem duty in respect of the acquisition of land to which the vesting order relates or the acquisition by the person applying was exempt from duty.

(3)  The person liable to pay the duty is the applicant.

(4)  [Section 35 Subsection (4) inserted by No. 46 of 2008, s. 10, Applied:18 Nov 2008] For the purposes of subsection (1) , if, before land is vested in the person applying for the vesting order, the applicant has made improvements to the land, the dutiable value of the land is to be determined as if those improvements had not been made.

36.   Applications to bring land under Land Titles Act 1980

(1)  An application to bring land under the Land Titles Act 1980 is chargeable with the same duty as on a vesting order under that Act if the applicant has not paid ad valorem duty on a transfer of the land.

(2)  The person liable to pay the duty is the applicant.

PART 4A - Transactions Treated as Subsales of Land

[Section 7 Subsection (2) amended by No. 35 of 2009, s. 5, Applied:01 Jul 2009]

Division 1 - Introduction

[Division 1 of Chapter 2 Inserted by No. 35 of 2009, s. 14, Applied:01 Jul 2009]

36A.   Definitions

(1)  In this Part –

associate of a person means an associated person of that person;

consideration means the amount of a monetary consideration or the value of a non-monetary consideration;

[Section 36A Subsection (1) amended by No. 14 of 2011, s. 5, Applied:28 Jun 2011] excluded costs means –

(a) legal costs or other fees or charges, including reasonable selling agents' fees and any statutory fees or charges; and

(b) survey or valuation payments; and

(c) GST other than in circumstances where an input tax credit or reduced input tax credit is available; and

(d) any other costs that, in the Commissioner's opinion, were reasonably incurred –

(i) if the subsequent purchaser obtained the transfer right from the first purchaser, by the first purchaser as part of the sale contract; or

(ii) if the subsequent purchaser obtained the transfer right from another subsequent purchaser, by that other subsequent purchaser or an associate of that other subsequent purchaser in order for that other subsequent purchaser to obtain a transfer right;

first purchaser –

(a) for the purposes of Division 2 , has the meaning given in section 36B(1)(a) ; and

(b) for the purposes of Division 3 , has the meaning given in section 36I(1)(a) ;

sale agreement has the meaning given in section 36B(1)(a) ;

subsequent purchaser has the meaning given in section 36B(1)(b) ;

subsequent transaction has the meaning given in section 36B(3) ;

transfer right has the meaning given in section 36B(1)(b) ;

vendor –

(a) for the purposes of Division 2 , has the meaning given in section 36B(1)(a) ; and

(b) for the purposes of Division 3 , has the meaning given in section 36I(1)(a) .

(2)  For the purposes of this Part –

(a) if a person who has a transfer right obtains an increased transfer right by a subsequent transaction, the person is a subsequent purchaser in relation to that subsequent transaction only to the extent of the increase in the transfer right; and

(b) if, by a subsequent transaction, a person retains a transfer right and another person obtains a transfer right, that other person is a subsequent purchaser in relation to that subsequent transaction only to the extent of the transfer right obtained by that other person.

Division 2 - Transfers involving additional consideration

[Division 2 of Chapter 2 Inserted by No. 35 of 2009, s. 14, Applied:01 Jul 2009]

36B.   Application of Division

(1)  This Division applies to a transfer of dutiable property referred to in section 9 if –

(a) a person (the "vendor") enters into an agreement (the "sale agreement") to sell or transfer the property to another person (the "first purchaser"); and

(b) any of the following persons (a "subsequent purchaser") obtains the right (a "transfer right") to have the property or any part of it transferred, on completion of the sale agreement, to the subsequent purchaser:

(i) a person other than the first purchaser;

(ii) the first purchaser and a person other than the first purchaser;

(iii) if there is more than one first purchaser, one or more of the first purchasers in different proportions from those in the sale agreement; and

(c) a subsequent purchaser or an associate of the subsequent purchaser gives or agrees to give additional consideration in order for the subsequent purchaser to obtain the transfer right; and

(d) the vendor transfers the property or any part of it to a subsequent purchaser.

(2)  It is immaterial whether a subsequent purchaser obtains a transfer right –

(a) by way of an assignment, nomination, novation or otherwise; or

(b) from the first purchaser or from another subsequent purchaser.

(3)  Each assignment, nomination, novation or other arrangement by which a subsequent purchaser obtains a transfer right is called a "subsequent transaction".

(4)  In this section –

[Section 36B Subsection (4) amended by No. 14 of 2011, s. 6, Applied:28 Jun 2011] additional consideration for a transfer right means any consideration given or agreed to be given by a subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain the transfer right, other than reimbursement of excluded costs, and –

(a) if the subsequent purchaser obtained the transfer right from the first purchaser, the additional consideration is the amount that exceeds the consideration given or agreed to be given to the vendor by the first purchaser under the sale agreement in respect of the property that is the subject of the transfer right; or

(b) if the subsequent purchaser obtained the transfer right from another subsequent purchaser, the additional consideration is the amount that exceeds the consideration given or agreed to be given by that other subsequent purchaser or an associate of that other subsequent purchaser in order for that other subsequent purchaser to obtain a transfer right, to the extent that the consideration relates to the first-mentioned transfer right.

36BA.   Application to put and call options

[Section 29 Subsection (1) amended by No. 41 of 2013, s. 6, Applied:21 Oct 2013] [Section 36BA Inserted by No. 41 of 2013, s. 7, Applied:21 Oct 2013]

(1)  This Division applies to a put and call option as if –

(a) the put and call option were a sale agreement under section 36B(1)(a) ; and

(b) the person who enters the put and call option as the person who has the right to purchase the dutiable property were the first purchaser under section 36B(1)(a) ; and

(c) the person who enters the put and call option as the person who has the right to sell the dutiable property were the vendor under section 36B(1)(a) ; and

(d) where a right to acquire dutiable property, or part of dutiable property, under a put and call option is obtained by another person, that other person were a subsequent purchaser under paragraph (b) of section 36B(1) and that right were a transfer right under that paragraph.

(2)  For the purposes of section 36B(1)(b) , the completion of the put and call option is upon the transfer of the dutiable property following the exercise of either the put or call rights under the option.

(3)  For the purposes of section 36D(1)(a) , the consideration given or agreed to be given under the put and call option includes the consideration given or agreed to be given to obtain the put and call option and any consideration payable on the exercise of the put and call option.

(4)  For the purposes of section 36D(2)(a) , the consideration given or agreed to be given to obtain the transfer right includes any consideration payable on the exercise of the put and call option.

36C.   How duty is charged on transfer

(1)  Duty on a transfer to which this Division applies is not charged in respect of the transfer from the vendor to the transferee, but is charged separately and distinctly on –

(a) the dutiable value of the sale agreement as if it had been completed by the first purchaser; and

(b) the dutiable value of the subsequent transaction by which the final subsequent purchaser obtained the transfer right; and

(c) if there were any other subsequent transactions, the dutiable value of each of those transactions.

(2)  Duty is charged at the rate set out in Part 3 on the dutiable value referred to in section 36D .

(3)  If a subsequent purchaser or an associate of a subsequent purchaser has not given or agreed to give additional consideration in order to obtain a transfer right and –

(a) if the subsequent purchaser obtained the transfer right from the first purchaser, duty is not chargeable under this Division on the sale agreement to the extent of the transfer right obtained by the subsequent purchaser; or

(b) in the case of a subsequent transaction referred to in subsection (1)(c) , duty is not chargeable under this Division on the subsequent transaction, by which the subsequent purchaser obtained the transfer right, to the extent of the transfer right obtained by the subsequent purchaser.

(4)  Subsection (3)(b) applies only where a subsequent purchaser obtained a transfer right from another subsequent purchaser.

36D.   Dutiable value of transactions

(1)  For the purposes of this Division, the dutiable value of the sale agreement referred to in section 36C(1)(a) is the greater of –

(a) the consideration given or agreed to be given under the sale agreement; and

(b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the sale agreement was entered into, or as calculated by sections 247 and 248(2) and (2A) , as may be appropriate.

(2)  For the purposes of this Division, the dutiable value of a subsequent transaction referred to in section 36C(1)(b) or (c) is the greater of the following:

(a) [Section 36D Subsection (2) amended by No. 14 of 2011, s. 7, Applied:28 Jun 2011] the consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain the transfer right under the transaction, other than excluded costs;

(b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the sale agreement was entered into or as calculated by sections 247 and 248(2) and (2A) , as may be appropriate.

(3)  [Section 36D Subsection (3) inserted by No. 14 of 2011, s. 7, Applied:28 Jun 2011] If a subsequent purchaser has obtained a transfer right in the circumstances referred to in section 36A(2) , the value of the subsequent transaction for the purposes of subsection (2)(b) is to be calculated only to the extent of the transfer right obtained by the subsequent purchaser under that subsequent transaction.

36E.   When does liability to duty arise?

A liability for duty charged by this Division arises when the transfer occurs.

36F.   Who is liable to pay duty?

(1)  Duty charged by this Division is payable –

(a) in the case of duty referred to in section 36C(1)(a) , by the first purchaser; or

(b) in the case of duty referred to in section 36C(1)(b) or (c) , by the subsequent purchaser who obtains a transfer right under the relevant subsequent transaction.

(2)  A transferee who pays duty payable by another person under this Division may recover the amount of that duty as a debt due to the transferee from the other person.

36G.   Exemptions and concessions

(1)  Duty is not chargeable under section 36C(1)(a) if the sale agreement would be exempt from duty under this Chapter if it were a transfer of dutiable property to the first purchaser.

(2)  If the first purchaser would be entitled to a concession under this Chapter if the sale agreement were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 36C(1)(a) .

(3)  Duty is not chargeable under section 36C(1)(b) or (c) if the subsequent transaction would be exempt from duty under this Chapter if it were a transfer of dutiable property to the subsequent purchaser who obtains the transfer right under the subsequent transaction.

(4)  If a subsequent purchaser would be entitled to a concession under this Chapter if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that concession in respect of duty charged under section 36C(1)(b) or (c) .

Division 3 - Miscellaneous

[Division 3 of Chapter 2 Inserted by No. 35 of 2009, s. 14, Applied:01 Jul 2009]

36H.   Provisions for determining consideration

(1)  This section applies for the purpose of determining in Division 2  –

(a) the consideration given or agreed to be given under a sale agreement; or

(b) the consideration given or agreed to be given to obtain a transfer right under a subsequent transaction.

(2)  The consideration is taken to include the amount or value of all encumbrances, whether certain or contingent, subject to which the property would be transferred in accordance with, or as contemplated by, the relevant transaction.

36I.   Parties required to provide information to Commissioner

(1)  This section applies if –

(a) a person (the "vendor") enters into an agreement to sell or transfer any dutiable property referred to in section 9 to another person (the "first purchaser"), or an option is granted in respect of that property to or by the first purchaser; and

(b) the transfer executed by the vendor transfers the property or any part of it not to the first purchaser but to another person (the "transferee").

(2)  The transferee must give the Commissioner a statutory declaration in the approved form, containing the details required by the Commissioner for the purposes of determining any liability of the transferee or any other person to duty under this Chapter.

(3)  If the Commissioner considers it necessary for the purposes of determining liability to duty under this Chapter, the Commissioner may require any person he or she reasonably believes may be liable to duty to give the Commissioner a statutory declaration in the approved form, containing the details required by the Commissioner.

PART 5 - Concessional rates of duty

Division 1 - Trusts

37.   Change in trustees

(1)  In this section –

new trustee means a trustee appointed in substitution for a trustee or a trustee appointed in addition to a trustee or trustees;

[Section 37 Subsection (1) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] responsible entity means a responsible entity within the meaning of the Corporations Act;

special trustee means –

(a) The Public Trustee; and

(b) a trustee company within the meaning of the Trustee Companies Act 1953 ; and

(c) a corporation constituted under the law of another Australian jurisdiction that, in the Commissioner's opinion, corresponds in that jurisdiction to The Public Trustee or a trustee company referred to in paragraph (b) ; and

(d) the trustees of a fund that is a complying superannuation fund within the meaning of section 267 of the Income Tax Assessment Act 1936 of the Commonwealth or that, in the opinion of the trustees, will become a complying superannuation fund within 12 months after the execution of –

(i) an instrument appointing a new trustee; or

(ii) an instrument by which a trustee retires without a new trustee being appointed in place of the retiree.

(2)  [Section 37 Subsection (2) amended by No. 41 of 2013, s. 8, Applied:21 Oct 2013] [Section 37 Subsection (2) amended by No. 24 of 2002, s. 8, Applied:01 Jul 2002] Duty of $50 is chargeable in respect of a transfer of dutiable property to a special trustee as a consequence of the retirement of a trustee or the appointment of a new trustee.

(3)  [Section 37 Subsection (3) amended by No. 41 of 2013, s. 8, Applied:21 Oct 2013] [Section 37 Subsection (3) substituted by No. 36 of 2004, s. 7, Applied:01 Dec 2004] Duty of $50 is chargeable in respect of a transfer of dutiable property to a person other than a special trustee if the Commissioner is satisfied that the transfer is made solely –

(a) because of the retirement of a trustee, the appointment of a new trustee or other change in trustees; and

(b) in order to vest the property in the trustees for the time being entitled to hold it.

(4)  [Section 37 Subsection (4) substituted by No. 36 of 2004, s. 7, Applied:01 Dec 2004] If the Commissioner becomes aware that a transfer in respect of which duty was chargeable under subsection (3) was not a transfer of the kind referred to in that subsection, the Commissioner may reassess that transfer for the duty that would otherwise be payable.

(5)  [Section 37 Subsection (5) amended by No. 41 of 2013, s. 8, Applied:21 Oct 2013] Duty of $50 is chargeable in respect of a transfer of property as a consequence of the retirement of a responsible entity of a managed investment scheme or the appointment of a new responsible entity of a managed investment scheme if the Commissioner is satisfied that the only beneficial interest acquired by a person in relation to the property as a result of the transfer is a beneficial interest acquired by the replacement or new responsible entity solely because of its appointment as responsible entity for the scheme.

(6)  [Section 37 Subsection (6) amended by No. 41 of 2013, s. 8, Applied:21 Oct 2013] [Section 37 Subsection (6) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] Duty of $50 is chargeable in respect of a transfer of dutiable property to a responsible entity if the Commissioner is satisfied that the transfer is necessary to enable an undertaking that existed before the commencement of Chapter 5C of the Corporations Law to become a registered scheme within the meaning of Division 11 of Part 11.2 of the Corporations Law (as continued in effect by section 1408 of the Corporations Act).

38.   Transfers in relation to managed investment schemes

(1)  [Section 38 Subsection (1) amended by No. 41 of 2013, s. 9, Applied:21 Oct 2013] Duty of $50 is chargeable in respect of a transfer of dutiable property from –

(a) a responsible entity of a managed investment scheme; or

(b) [Section 38 Subsection (1) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] a person who held the dutiable property as a trustee of a prescribed interest scheme within the meaning of the Corporations Law as in force immediately before 1 July 1998 when the scheme became a registered scheme within the meaning of Division 11 of Part 11.2 of the Corporations Law (as continued in effect by section 1408 of the Corporations Act) –

to a custodian or agent of the responsible entity as custodian or agent of the scheme in which the transferor held the dutiable property.

(2)  [Section 38 Subsection (2) amended by No. 41 of 2013, s. 9, Applied:21 Oct 2013] Duty of $50 is chargeable in respect of a transfer of dutiable property from the custodian of the responsible entity of a managed investment scheme to the responsible entity.

39.   Property vested in an apparent purchaser

(1)  [Section 39 Subsection (1) amended by No. 41 of 2013, s. 10, Applied:21 Oct 2013] Duty of $50 is chargeable in respect of –

(a) a declaration of trust made by an apparent purchaser in respect of identified dutiable property –

(i) [Section 39 Subsection (1) amended by No. 46 of 2008, s. 11, Applied:18 Nov 2008] vested in the apparent purchaser upon trust for the real purchaser who provided the consideration for the purchase of the dutiable property; or

(ii) [Section 39 Subsection (1) amended by No. 46 of 2008, s. 11, Applied:18 Nov 2008] to be vested in the apparent purchaser upon trust for the real purchaser, if the Commissioner is satisfied that the consideration for the purchase of the dutiable property has been or will be provided by the real purchaser; or

(b) [Section 39 Subsection (1) amended by No. 46 of 2008, s. 11, Applied:18 Nov 2008] a transfer of dutiable property from an apparent purchaser to the real purchaser if –

(i) the dutiable property is property, or part of property, vested in the apparent purchaser upon trust for the real purchaser; and

(ii) the real purchaser provided the consideration for the purchase of the dutiable property and for any improvements made to the dutiable property after the purchase.

(2)  [Section 39 Subsection (2) substituted by No. 46 of 2008, s. 11, Applied:18 Nov 2008] For the purposes of subsection (1) , consideration provided by a person other than the real purchaser is taken to have been provided by the real purchaser if the Commissioner is satisfied that the consideration was provided as a loan and has been or will be repaid by the real purchaser.

(3)  [Section 39 Subsection (3) inserted by No. 46 of 2008, s. 11, Applied:18 Nov 2008] This section applies whether or not there has been a change in the legal description of the dutiable property between the purchase of the property by the apparent purchaser and the transfer to the real purchaser.

Note: For example, if the dutiable property is land, this section continues to apply if there is a change in the legal description of the dutiable property as a consequence of the subdivision of the land.

(4)  [Section 39 Subsection (4) inserted by No. 46 of 2008, s. 11, Applied:18 Nov 2008] In this section –

purchase includes an allotment.

40.   Transfers back from a nominee

(1)  [Section 40 Subsection (1) amended by No. 41 of 2013, s. 11, Applied:21 Oct 2013] If –

(a) [Section 40 Subsection (1) amended by No. 24 of 2002, s. 9, Applied:01 Jul 2002] dutiable property that was transferred to a person to be held by that person as trustee for the transferor is transferred back to the transferor by the trustee; and

(b) no person other than the transferor has had a beneficial interest in the dutiable property (other than the trustee's right of indemnity) between its transfer to the trustee and its transfer back to the transferor –

the duty chargeable on the transfer of the dutiable property back to the transferor is $50.

(2)  [Section 40 Subsection (2) amended by No. 41 of 2013, s. 11, Applied:21 Oct 2013] If duty of $50 has been paid on a transfer under subsection (1) , the initial transfer to the trustee is also chargeable with duty of $50.

(3)  [Section 40 Subsection (3) amended by No. 41 of 2013, s. 11, Applied:21 Oct 2013] The Commissioner must reassess the initial transfer and refund any duty paid in excess of $50 if an application for a refund is made within –

(a) 3 years after the initial assessment; or

(b) [Section 40 Subsection (3) amended by No. 60 of 2002, s. 9, Applied:01 Jul 2002] 12 months after the transfer back to the original transferor; or

(c) [Section 40 Subsection (3) amended by No. 60 of 2002, s. 9, Applied:01 Jul 2002] 3 years after the payment of duty pursuant to a special arrangement for the lodging of returns and payment of tax under Part 6 of the Taxation Administration Act 1997  –

whichever is the later.

(4)  In this section,

trustee includes a trustee appointed in substitution for a trustee or a trustee appointed in addition to a trustee or trustees.

41.   Property passing to beneficiaries

[Section 41 Amended by No. 41 of 2013, s. 12, Applied:21 Oct 2013] [Section 41 Substituted by No. 60 of 2002, s. 10, Applied:01 Jul 2002] Duty of $50 is chargeable under this Chapter in respect of a transfer of dutiable property that is subject to a trust ("the principal trust") to a beneficiary of the principal trust if –

(a) the beneficiary was a beneficiary when the property, or what was substantially the same property, was first vested in a trustee of the principal trust; and

(b) the transfer is –

(i) to the beneficiary absolutely; or

(ii) to the beneficiary as trustee of another trust ("the second trust") of which all the beneficiaries are natural persons who were beneficiaries of the second trust when the property, or what was substantially the same property, was first vested in a trustee of the principal trust; and

(c) the duty charged by this Act in respect of the first vesting of the property, or what was substantially the same property, in a trustee of the principal trust has been paid.

42.   Establishment of a trust relating to unidentified property and non-dutiable property

(1)  [Section 42 Subsection (1) amended by No. 41 of 2013, s. 13, Applied:21 Oct 2013] Duty of $50 is chargeable in respect of an instrument executed in Tasmania that declares a trust over Tasmanian property none of which is dutiable property.

(2)  [Section 42 Subsection (2) amended by No. 41 of 2013, s. 13, Applied:21 Oct 2013] Duty of $50 is chargeable in respect of an instrument executed in Tasmania that declares that property, although not identified in the instrument, when vested in the person executing the instrument is to be held in trust for a person or persons or a purpose or purposes mentioned in the instrument.

(3)  It is immaterial whether or not the beneficial owner or person entitled to appoint the property has joined in or assented to the instrument.

(4)  A liability for duty charged by this section arises when the instrument is first executed.

(5)  Duty charged by this section is payable by the person declaring the trust.

(6)  [Section 42 Subsection (6) omitted by No. 24 of 2002, s. 10, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

43.   Instrument relating to managed investment scheme

(1)  [Section 43 Subsection (1) amended by No. 41 of 2013, s. 14, Applied:21 Oct 2013] Duty of $50 is chargeable in respect of an instrument that –

(a) amends, varies or replaces an instrument that establishes or governs a managed investment scheme; and

(b) does not transfer, or have the effect of transferring, any dutiable property to a person who does not hold units in the scheme; and

(c) does not have the effect of reducing the number of persons who hold units in the scheme.

(2)  [Section 43 Subsection (2) amended by No. 41 of 2013, s. 14, Applied:21 Oct 2013] Duty of $50 is chargeable in respect of a declaration of trust –

(a) made by a trustee in respect of dutiable property that, immediately before the trust is declared, is held by the trustee as trustee of the prescribed interest scheme within the meaning of the Corporations Law as in force immediately before 1 July 1998; and

(b) to hold the dutiable property on trust for the responsible entity of the managed investment scheme.

Division 2 - Superannuation

44.   Instruments relating to superannuation

(1)  [Section 44 Subsection (1) amended by No. 41 of 2013, s. 15, Applied:21 Oct 2013] The following instruments are liable to duty of $50:

(a) an instrument that establishes, or that amends provisions governing, a superannuation fund, an approved deposit fund, a pooled superannuation trust or an eligible rollover fund, being a fund or trust that, in the opinion of the trustees, will be a complying superannuation fund, a complying approved deposit fund, a pooled superannuation trust or an eligible rollover fund within 12 months after the instrument or amending instrument takes effect;

(b) an instrument under which an employer agrees to participate in or contribute to a complying superannuation fund or a superannuation fund that, in the opinion of the trustees, will become a complying superannuation fund within 12 months after the employer agrees to participate in or contribute to the fund;

(c) an instrument that is executed in order to set out or vary the terms of custodial arrangements concerning a complying superannuation fund, a complying approved deposit fund, a pooled superannuation trust or an eligible rollover fund (whether or not the instrument contains any other terms) or concerning a fund or trust that, in the opinion of the trustees, will be a complying superannuation fund, a complying approved deposit fund, a pooled superannuation trust or an eligible rollover fund within 12 months after the instrument takes effect.

(2)  A liability for duty charged by this section arises when the instrument is first executed.

(3)  The persons liable to pay the duty are the parties to the instrument.

(4)  Despite subsection (1) , an instrument to which this section applies is not liable to duty if –

(a) it is exempt from duty under a corresponding Act; or

(b) the duty for which it is liable under a corresponding Act has been paid.

45.   Transfer of property from one superannuation fund to another

(1)  This section applies to the transfer of dutiable property from one superannuation fund to another where –

(a) the transfer is made from a complying superannuation fund or from a fund that was a complying superannuation fund within the period of 12 months before the transfer was made; and

(b) the transfer is made to a complying superannuation fund or to a superannuation fund that, in the opinion of the trustees, will be a complying superannuation fund within 12 months after the transfer is made; and

(c) the transfer occurs in connection with a person's ceasing to be a member of, or otherwise ceasing to be entitled to benefits in respect of, the fund from which the dutiable property is transferred and the person's becoming a member of, or otherwise becoming entitled to benefits in respect of, the fund to which the dutiable property is transferred.

(2)  [Section 45 Subsection (2) amended by No. 41 of 2013, s. 16, Applied:21 Oct 2013] [Section 45 Subsection (2) amended by No. 24 of 2002, s. 11, Applied:01 Jul 2002] The duty chargeable on a transfer to which this section applies is $50.

(3)  An application for an assessment of duty in accordance with this section is to be accompanied by the following:

(a) a brief explanation of the background to the transfer and the entitlements to be extinguished and created;

(b) copies of the governing rules of the complying superannuation funds concerned;

(c) a statement of the property to be transferred;

(d) a copy of each instrument relating to the transfer;

(e) a statutory declaration from a trustee (or a director of a corporate trustee) of each of the superannuation funds concerned stating that, in the opinion of the trustee (or director), the fund will be a complying superannuation fund within 12 months after the transfer occurs.

(4)  The Commissioner may require further information.

(5)  In this section,

complying superannuation fund includes a complying approved deposit fund and an eligible rollover fund.

46.   Transfers between trustees and custodians of superannuation funds or trusts

[Section 46 Subsection (3) substituted by No. 24 of 2002, s. 12, Applied:01 Jul 2002] [Section 46 Substituted by No. 60 of 2002, s. 11, Applied:19 Dec 2002]

(1)  This section applies to the following dutiable transactions:

(a) a transfer of, or an agreement to transfer, dutiable property from a trustee of –

(i) a complying superannuation fund; or

(ii) a pooled superannuation trust; or

(iii) a fund or trust that, in the opinion of the trustees, will be a complying superannuation fund or a pooled superannuation trust within 12 months after the transfer takes effect –

to a custodian of the trustee of the fund or trust, where there is no change in the beneficial ownership of the property;

(b) a transfer of, or an agreement to transfer, dutiable property from a custodian of a trustee of –

(i) a complying superannuation fund; or

(ii) a pooled superannuation trust; or

(iii) a fund or trust that, in the opinion of the trustees, will be a complying superannuation fund or a pooled superannuation trust within 12 months after the transfer takes effect –

to a trustee of the fund or trust, where there is no change in the beneficial ownership of the property;

(c) a transfer of, or an agreement to transfer, dutiable property from a custodian of a trustee of –

(i) a complying superannuation fund; or

(ii) a pooled superannuation trust; or

(iii) a fund or trust that, in the opinion of the trustees, will be a complying superannuation fund or a pooled superannuation trust within 12 months after the transfer takes effect –

to another custodian of the trustee of the fund or trust, where there is no change in the beneficial ownership of the property.

(2)  [Section 46 Subsection (2) amended by No. 41 of 2013, s. 17, Applied:21 Oct 2013] The duty chargeable on a dutiable transaction to which this section applies is $50.

(3)  In this section,

complying superannuation fund includes a complying approved deposit fund and an eligible rollover fund.

Division 3 - Miscellaneous

47.   Deceased estates

(1)  [Section 47 Subsection (1) amended by No. 41 of 2013, s. 18, Applied:21 Oct 2013] [Section 47 Subsection (1) amended by No. 24 of 2002, s. 13, Applied:01 Jul 2002] Subject to section 53(j) , duty of $50 is chargeable in respect of a transfer of dutiable property not made for valuable consideration by the legal personal representative of a deceased person to a beneficiary, being –

(a) a transfer made under and in conformity with the trusts contained in the will of the deceased person or arising on an intestacy; or

(b) [Section 47 Subsection (1) amended by No. 8 of 2008, s. 6, Applied:02 May 2008] a transfer of property the subject of a trust for sale contained in the will of the deceased person; or

(c) [Section 47 Subsection (1) amended by No. 8 of 2008, s. 6, Applied:02 May 2008] a transfer of property in accordance with an order made under the Testator's Family Maintenance Act 1912 .

(1A)  [Section 47 Subsection (1A) inserted by No. 21 of 2014, s. 5, Applied:09 Dec 2014] Subject to section 53(j) , if –

(a) a transfer of dutiable property is made to a beneficiary by the legal personal representative of a deceased person; and

(b) the transfer is made under, but only partially in conformity with, a trust contained in the will of the deceased person –

the dutiable value of the dutiable property is to be reduced by the value of so much of the transfer as is made in conformity with the trust and is not made for valuable consideration.

(1B)  [Section 47 Subsection (1B) inserted by No. 21 of 2014, s. 5, Applied:09 Dec 2014] Despite subsection (1A) , the minimum amount payable on a transfer to which the subsection applies is $50.

(2)  No duty is payable in respect of –

(a) a consent by a legal personal representative of a deceased person to a transmission application by a beneficiary; or

(b) a transmission application to a devisee who is also the sole legal personal representative.

48.   Conversion of lots to strata title

[Section 48 Amended by No. 41 of 2013, s. 19, Applied:21 Oct 2013] The duty chargeable on the transfer of a lot within the meaning of the Strata Titles Act 1998 is $50 if the Commissioner is satisfied that –

(a) the transferee, immediately before registration of the strata plan, held a land use entitlement in respect of the land or part of the land the subject of the strata plan; and

(b) the transfer is part of an arrangement under which the transferee will take an interest in the lot similar in effect to and in substitution for the interest the transferee had under the land use entitlement immediately before registration of the strata plan.

49.   Duty where no change of beneficial ownership

[Section 49 Amended by No. 41 of 2013, s. 20, Applied:21 Oct 2013] [Section 49 Substituted by No. 24 of 2002, s. 14, Applied:01 Jul 2002] The duty chargeable on a transfer of dutiable property is $50 if the Commissioner is satisfied there is no change in the beneficial ownership of the property.

50.   Adjustment of dutiable value of transfer on a company wind-up

(1)  [Section 50 Subsection (1) amended by No. 21 of 2014, s. 6, Applied:09 Dec 2014] If a transfer of dutiable property is made to a shareholder in the course of a distribution of assets of a company because of the winding-up of the company, the dutiable value of the dutiable property is to be reduced by –

(a) if the shareholder is not a creditor of the company, the value of the shareholder's entitlement in the undistributed assets of the company immediately before the transfer; or

(b) if the shareholder is a creditor of the company, the amount (if any) by which the value of the shareholder's entitlement in the undistributed assets of the company immediately before the transfer exceeds the amount owed by the company to the shareholder as a creditor.

(2)  [Section 50 Subsection (2) amended by No. 41 of 2013, s. 21, Applied:21 Oct 2013] [Section 50 Subsection (2) amended by No. 24 of 2002, s. 15, Applied:01 Jul 2002] Notwithstanding subsection (1) , the minimum amount payable on the transfer of dutiable property to a shareholder is $50.

(3)  Subsection (1) does not apply to the extent of any debt owed by the company to the shareholder that was converted to equity in the company within a 12 month period before the winding-up of the company.

(4)  [Section 50 Subsection (4) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] The provisions of this section do not apply to a distribution to a shareholder who was not a shareholder for at least 12 months immediately prior to the notice of appointment of liquidator being given under section 537 of the Corporations Act.

51.   

[Section 51 Repealed by No. 24 of 2002, s. 16, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

PART 6 - Exemptions

52.   Exemptions from duty

A dutiable transaction is exempt from duty under this Chapter if it is, or occurs as a consequence of any of the following:

(a) the appointment of a receiver or trustee in bankruptcy;

(b) the appointment of a liquidator;

(c) the transfer of dutiable property for no consideration to a former bankrupt from the estate of the former bankrupt;

(d) a dutiable transaction over dutiable property arising from the discharge or transfer of a mortgage or declaration of trust over a mortgage (and a reference in this paragraph to a mortgage includes a reference to a charge and an interest in a mortgage);

(e) a dutiable transaction comprising –

(i) a transfer by way of discharge of mortgage; or

(ii) a transfer by way of mortgage (not being a transfer by way of mortgage of land, or an estate or interest in land, under the Land Titles Act 1980 ), if duty as on a mortgage has been paid in respect of an instrument evidencing the mortgage or the instrument is exempt from, or is not liable to, duty;

(f) subject to section 34 , the grant of a mortgage.

53.   Exemptions relating to various transactions

Duty is not chargeable under this Chapter on the following:

(a) a transfer of dutiable property to give effect to the incorporation of an association or the amalgamation of 2 associations pursuant to the Associations Incorporation Act 1964 ;

(b) [Section 53 Amended by No. 36 of 2004, s. 8, Applied:01 Dec 2004] [Section 53 Amended by No. 3 of 2006, s. 6, Applied:26 Jun 2006] [Section 53 Amended by No. 8 of 2008, s. 7, Applied:02 May 2008] a transfer of dutiable property consequent on an incorporated association under the Associations Incorporation Act 1964 becoming a prescribed body corporate as provided for by that Act;

(c) [Section 53 Amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 53 Amended by No. 22 of 2005, s. 20, Applied:01 Jul 2008] [Section 53 Amended by No. 46 of 2008, s. 19, Applied:01 Jul 2008] a transfer of dutiable property as specified in section 9(1)(i) or (j) but does not include land, made between persons who are relatives if the relative is –

(i) a child or grandchild; or

(ii) a parent or grandparent; or

(iii) a brother or sister; or

(iv) a spouse or caring partner; or

(v) a spouse or caring partner of a child, grandchild, brother or sister;

(d) [Section 53 Amended by No. 60 of 2002, s. 12, Applied:01 Jul 2002] [Section 53 Amended by No. 40 of 2012, s. 5, Applied:22 Nov 2012] [Section 53 Amended by No. 21 of 2014, s. 8, Applied:22 Nov 2012] [Section 53 Amended by No. 41 of 2013, s. 22, Applied:21 Oct 2013] [Section 53 Amended by No. 21 of 2014, s. 10, Applied:21 Oct 2013] a lease, excluding premiums of more than $3 000 paid for or in connection with the grant, transfer or surrender of the lease;

(e) [Section 53 Amended by No. 65 of 2003, s. 4, Applied:01 Jul 2004] [Section 53 Amended by No. 22 of 2005, s. 4, Applied:24 Jan 2005] [Section 53 Amended by No. 40 of 2012, s. 5, Applied:22 Nov 2012] .  .  .  .  .  .  .  .  

(f) a transfer of personal property to a gallery conducted by a council or to the trustees of the Tasmanian Museum and Art Gallery, for the purpose of exhibiting, free of charge to the public, that property as a work of art in that gallery;

(g) [Section 53 Amended by No. 46 of 2008, s. 19, Applied:01 Jul 2008] .  .  .  .  .  .  .  .  

(h) [Section 53 Amended by No. 25 of 2005, s. 22, Applied:21 Jul 2005] any instrument relating to the vesting of land in the Aboriginal Land Council of Tasmania under section 27(1) of the Aboriginal Lands Act 1995 ;

(ha) [Section 53 Amended by No. 25 of 2005, s. 22, Applied:21 Jul 2005] any instrument relating to the transfer of land to the Aboriginal Land Council of Tasmania by way of gift, bequest or devise and declared to be Aboriginal land under section 35A of the Aboriginal Lands Act 1995 ;

(i) any instrument required as a result of any variation or change made to any folio of the Register pursuant to section 12 of the Abt Railway Development Act 1999 ;

(j) an assent given under section 36(1) of the Administration and Probate Act 1935 in relation to the vesting of real estate;

(k) the transfer of any property pursuant to section 18 of the Crime (Confiscation of Profits) Act 1993 ;

(l) any gift, bequest or devise acquired by the Allport Library and Museum of Fine Arts Management Committee under section 20 of the Libraries Act 1984 or by the State Library and Archives Trust under section 17 of the Libraries Act 1984 ;

(m) any gift, bequest or devise accepted or acquired by the Minister responsible for the administration of the Archives Act 1983 or the State Archivist under section 9 of that Act;

(n) [Section 53 Amended by No. 41 of 2013, s. 22, Applied:21 Oct 2013] a dutiable transaction for no consideration that is solely –

(i) in furtherance of any charitable, religious or educational purpose; or

(ii) to or in favour of any corporation or association that is incorporated or associated for any such purpose;

(o) [Section 53 Amended by No. 60 of 2002, s. 12, Applied:01 Jul 2002] an endorsement of a grant consequent on the surrender of land under section 59 of the Crown Lands Act 1976 ;

(p) [Section 53 Amended by No. 60 of 2002, s. 12, Applied:01 Jul 2002] a surrender of a forestry right, within the meaning of the Forestry Rights Registration Act 1990 .

54.   Exemptions relating to special disability trusts

[Section 54 Subsection (1) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] [Section 54 Repealed by No. 24 of 2002, s. 17, Applied:01 Jul 2002] [Section 54 Inserted by No. 3 of 2006, s. 7, Applied:26 Jun 2006] [Section 54 Repealed by No. 35 of 2009, s. 15, Applied:01 Jul 2009] [Section 54 Inserted by No. 47 of 2011, s. 7, Applied:07 Dec 2011] Duty is not chargeable under this Chapter on –

(a) a declaration of trust over property that is to be held by the trustee in the trustee's capacity as trustee for a special disability trust; or

(b) a transfer of dutiable property to the trustee of a special disability trust for the purpose of the trust –

if the Commissioner is satisfied that –

(c) the property is land on which is situated a dwelling that is to be used by the beneficiary of the trust as his or her main place of residence; or

(d) the property is goods that are situated on land referred to in paragraph (c) or that are to be used on such land by the beneficiary of the trust.

55.   Exemptions – transfers to partners in a marriage or relationship

(1)  No duty is chargeable under this Chapter on a transfer, or an agreement for the sale or transfer, of dutiable property if it is proved to the satisfaction of the Commissioner that –

(a) [Section 55 Subsection (1) amended by No. 60 of 2002, s. 13, Applied:01 Jul 2002] [Section 55 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 55 Subsection (1) amended by No. 36 of 2004, s. 9, Applied:01 Dec 2004] as a result of the transfer or agreement, the whole of the property is or will be held by the parties to a marriage or significant relationship, or by caring partners, as joint tenants or as tenants in common in equal shares; and

(b) the dutiable property –

(i) [Section 55 Subsection (1) amended by No. 60 of 2002, s. 13, Applied:01 Jul 2002] [Section 55 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 55 Subsection (1) amended by No. 36 of 2004, s. 9, Applied:01 Dec 2004] is land that has erected on it a private dwelling house and was solely or principally used, as at the date of transfer, as the principal place of residence of the parties to the marriage or significant relationship, or of the caring partners; or

(ii) [Section 55 Subsection (1) amended by No. 60 of 2002, s. 13, Applied:01 Jul 2002] [Section 55 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 55 Subsection (1) amended by No. 36 of 2004, s. 9, Applied:01 Dec 2004] [Section 55 Subsection (1) amended by No. 6 of 2010, s. 5, Applied:09 Jul 2010] .  .  .  .  .  .  .  .  

(iii) [Section 55 Subsection (1) amended by No. 60 of 2002, s. 13, Applied:01 Jul 2002] [Section 55 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 55 Subsection (1) amended by No. 36 of 2004, s. 9, Applied:01 Dec 2004] is shares that confer an entitlement to exclusive possession of a company title dwelling that was solely or principally used, as at the date of transfer, as the principal place of residence of the parties to the marriage or significant relationship, or of the caring partners; and

(c) [Section 55 Subsection (1) amended by No. 60 of 2002, s. 13, Applied:01 Jul 2002] [Section 55 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 55 Subsection (1) amended by No. 36 of 2004, s. 9, Applied:01 Dec 2004] both the transferor and the transferee are the parties to the marriage or significant relationship, or are the caring partners, or one of them and no other person is a party to the transfer.

(1A)  [Section 55 Subsection (1A) inserted by No. 6 of 2010, s. 5, Applied:09 Jul 2010] If –

(a) ad valorem duty was paid on a transfer of vacant land; and

(b) as a result of the transfer, the whole of the property is held by the parties to a marriage or significant relationship, or by caring partners, as joint tenants or as tenants in common in equal shares; and

(c) the parties to the marriage or significant relationship, or the caring partners, within 2 years from the date of the transfer referred to in paragraph (a) , use the land as the site of a private dwelling house that is solely or principally used as their principal place of residence; and

(d) both the transferor and the transferee are the parties to the marriage or significant relationship, or are the caring partners, or one of them and no other person is a party to the transfer –

the Commissioner must reassess the transfer and refund the duty paid.

(2)  [Section 55 Subsection (2) substituted by No. 60 of 2002, s. 13, Applied:01 Jul 2002] In this section –[Section 55 Subsection (2) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004]

private dwelling house includes a lot, within the meaning of the Strata Titles Act 1998 , used as a place of residence.

56.   Exemptions – break-down of marriages

(1)  No duty is chargeable under this Chapter on a transfer, or an agreement for the sale or transfer, of matrimonial property if –

(a) the property is transferred, or agreed to be sold or transferred, to the parties to a marriage that is dissolved or annulled (or in the opinion of the Commissioner has irretrievably broken down) or to either of them, or to a child of the marriage under the age of 18; and

(b) the transfer or agreement is effected by or in accordance with –

(i) a document registered or approved under the Family Law Act 1975 of the Commonwealth; or

(ia) [Section 56 Subsection (1) amended by No. 121 of 2001, s. 5, Applied:17 Dec 2001] a financial agreement made under section 90B, 90C or 90D of that Act; or

(ii) an order of a court under that Act; or

(iii) a purchase at public auction of property that, immediately before the auction, was matrimonial property where the public auction is held to comply with any such document or order.

(2)  No duty is chargeable under this Chapter on a dutiable transaction to the extent that –

(a) [Section 56 Subsection (2) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] for the purposes of or ancillary to a transfer referred to in subsection (1) , it transfers a share that is matrimonial property to a person not a party to the relevant marriage in order to comply with a requirement of or prescribed under the Corporations Act; or

(b) it is a declaration of trust, by the transferee of a share transferred as referred to in paragraph (a) , for the benefit of a party to the marriage.

(3)  If –

(a) ad valorem duty was paid on a transfer, or agreement for the sale or transfer, of matrimonial property to the parties to a marriage or to either of them, or to a child of the marriage under the age of 18; and

(b) [Section 56 Subsection (3) amended by No. 3 of 2006, s. 8, Applied:26 Jun 2006] the transfer or agreement for the sale or transfer of matrimonial property is effected by or in accordance with –

(i) a document registered or approved under the Family Law Act 1975 of the Commonwealth; or

(ii) an order of the court under that Act; or

(iii) a purchase, at public auction, of property that, immediately before the auction, was matrimonial property, where the public auction is held to comply with any such document or order; and

(c) the marriage was dissolved or annulled or the Commissioner is satisfied that the marriage has irretrievably broken down –

the Commissioner must reassess the transfer or agreement and refund the duty paid.

(4)  [Section 56 Subsection (4) inserted by No. 14 of 2011, s. 8, Applied:28 Jun 2011] In this section –

child of the marriage includes –

(a) a child of either or both of the parties to the marriage; and

(b) a trustee of such a child.

56A.   Exemptions – break-down of de facto relationships

[Section 56A Inserted by No. 6 of 2010, s. 9, Applied:08 Oct 2008]

(1)  No duty is chargeable under this Chapter on a transfer, or an agreement for the sale or transfer, of de facto relationship property if –

(a) the property is transferred, or agreed to be sold or transferred, to the parties to a de facto relationship that has been terminated, or to either of them, or to a child of the relationship who is under the age of 18; and

(b) the transfer or agreement is effected by or in accordance with –

(i) a document registered or approved under the Family Law Act 1975 of the Commonwealth; or

(ii) a financial agreement made under section 90UB, 90UC or 90UD of that Act; or

(iii) an order of a court under that Act; or

(iv) a purchase at public auction of property that, immediately before the auction, was de facto relationship property, where the public auction is held to comply with any such document, financial agreement or order.

(2)  No duty is chargeable under this Chapter on a dutiable transaction to the extent that –

(a) for the purposes of or ancillary to a transfer referred to in subsection (1) , it transfers a share that is de facto relationship property to a person not a party to the relevant de facto relationship in order to comply with a requirement of or prescribed under the Corporations Act; or

(b) it is a declaration of trust, by the transferee of a share transferred as referred to in paragraph (a) , for the benefit of a party to the de facto relationship.

(3)  If –

(a) ad valorem duty was paid on a transfer, or agreement for the sale or transfer, of de facto relationship property to the parties to a de facto relationship or to either of them, or to a child of the relationship who is under the age of 18; and

(b) the transfer or agreement for the sale or transfer of de facto relationship property is effected by or in accordance with –

(i) a document registered or approved under the Family Law Act 1975 of the Commonwealth; or

(ii) an order of the court under that Act; or

(iii) a purchase, at public auction, of property that, immediately before the auction, was de facto relationship property, where the public auction is held to comply with any such document or order; and

(c) the Commissioner is satisfied that the de facto relationship has been terminated –

the Commissioner must reassess the transfer or agreement and refund the duty paid.

(4)  [Section 56A Subsection (4) inserted by No. 14 of 2011, s. 9, Applied:28 Jun 2011] In this section –

child of the relationship includes –

(a) a child of either or both of the parties to the relationship; and

(b) a trustee of such a child.

57.   Exemptions – personal relationships

(1)  No duty is chargeable under this Chapter on a transfer, or an agreement for the sale or transfer, of relationship property if –

(a) [Section 57 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 57 Subsection (1) amended by No. 14 of 2011, s. 10, Applied:28 Jun 2011] the property is transferred or agreed to be sold or transferred to the partners to a personal relationship that is terminated, or to either of them, or to a child of the relationship who is under the age of 18; and

(b) the transfer or agreement –

(i) [Section 57 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 57 Subsection (1) amended by No. 36 of 2004, s. 10, Applied:01 Dec 2004] is effected by or in accordance with an order made under the Relationships Act 2003 or a prescribed agreement; or

(ii) [Section 57 Subsection (1) amended by No. 36 of 2004, s. 10, Applied:01 Dec 2004] is executed for the purpose of, or in accordance with, such an order or prescribed agreement; or

(iii) [Section 57 Subsection (1) amended by No. 36 of 2004, s. 10, Applied:01 Dec 2004] effects the purchase, at public auction, of property, that immediately before the auction, was relationship property, where the auction is held to comply with any such order or prescribed agreement.

(2)  No duty is chargeable under this Chapter on a dutiable transaction to the extent that –

(a) [Section 57 Subsection (2) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] [Section 57 Subsection (2) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] for purposes of or ancillary to a transfer referred to in subsection (1) , it transfers a share that is relationship property to a person not a party to the relevant personal relationship in order to comply with a requirement of or prescribed under the Corporations Act; or

(b) [Section 57 Subsection (2) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] it is a declaration of trust, by the transferee of a share transferred as referred to in paragraph (a) , for the benefit of a party to the personal relationship.

(2A)  [Section 57 Subsection (2A) inserted by No. 14 of 2011, s. 10, Applied:28 Jun 2011] If –

(a) ad valorem duty was paid on a transfer, or agreement for the sale or transfer, of relationship property to the parties to a personal relationship or to either of them, or to a child of the relationship who is under the age of 18; and

(b) the transfer or agreement for the sale or transfer of relationship property is effected by or in accordance with –

(i) a document registered or approved under the Relationships Act 2003 ; or

(ii) an order of the court under that Act; or

(iii) a prescribed agreement; or

(iv) a purchase, at public auction, of property that, immediately before the auction, was relationship property, where the public auction is held to comply with any such document, prescribed agreement or order; and

(c) the Commissioner is satisfied that the personal relationship has been terminated –

the Commissioner must reassess the transfer or agreement and refund the duty paid.

(3)  [Section 57 Subsection (3) inserted by No. 36 of 2004, s. 10, Applied:01 Dec 2004] In this section –

[Section 57 Subsection (3) amended by No. 14 of 2011, s. 10, Applied:28 Jun 2011] child of the relationship means –

(a) a child of either or both of the parties to the relationship; and

(b) a trustee of such a child;

prescribed agreement means an agreement that is –

(a) a personal relationship agreement or separation agreement within the meaning of the Relationships Act 2003 ; and

(b) in accordance with paragraphs (b) , (c) , (d) and (e) of section 62(1) of the Relationships Act 2003 .

57A.   Partial exemptions

[Section 57A Inserted by No. 40 of 2012, s. 6, Applied:22 Nov 2012]

(1)  No duty is chargeable under this Chapter on a transfer to a council of real property that is –

(a) a public road; or

(b) a park or garden used for recreational purposes for which the council will normally provide free public access.

(2)  However, if any part of the real property so transferred is not to be used as –

(a) a public road; or

(b) a park or garden for recreational purposes for which the council will normally provide free public access –

the dutiable value of the transfer is to be reduced by the value of the real property, inclusive of capital improvements, used for the purposes referred to in paragraphs (a) and (b) .

57AA.   Exemptions – certain vestings

[Section 57AA Inserted by No. 43 of 2016, s. 9, Applied:01 Jul 2001] No duty is chargeable under this Chapter on a vesting of dutiable property if –

(a) it is a vesting of dutiable property in a legal personal representative of a deceased person or under section 12 of the Administration and Probate Act 1935 ; or

(b) it is a vesting, under the Associations Incorporation Act 1964 , of dutiable property in an incorporated association; or

(c) it is a vesting, under the Strata Titles Act 1998 , of common property in a body corporate on the registration of a strata plan under that Act; or

(d) it is a vesting of dutiable property under section 28 of the Strata Titles Act 1998 by virtue of the cancellation of a strata plan.

Chapter 3 - Certain transactions treated as transfers

PART 1 - Preliminary

58.   Introduction and overview

This Chapter charges duty on certain transactions that are not dutiable transactions under Chapter 2 .

PART 2 - Acquisition of interests in certain landholders

Division 1 - Land-rich private corporations

59.    Meaning of private corporation

A private company or private unit trust scheme is, for the purposes of this Part, a private corporation.

59A.   Company to be treated as private company in certain circumstances

[Section 59A Inserted by No. 3 of 2006, s. 9, Applied:26 Jun 2006] Notwithstanding the definition of "private company" in section 3 , for the purposes of this Chapter, a company is a private company if the Commissioner is satisfied that its listing on a recognised stock exchange was part of an arrangement or scheme having as its purpose, or one of its purposes, the defeat of the objects of this Chapter.

60.   When is a private corporation land-rich?

(1)  A private corporation is land-rich if –

(a) it has land holdings in Tasmania whose unencumbered value is $500 000 or more; and

(b) [Section 60 Subsection (1) amended by No. 8 of 2008, s. 8, Applied:02 May 2008] its land holdings in all places, whether within or outside Australia, comprise 60% or more of the unencumbered value of all its property.

(2)  In calculating the unencumbered value of the property of a private corporation for the purposes of this section, property of any of the following kinds is not counted:

(a) cash, whether in Australian or other currency;

(b) money on deposit with any person, negotiable instruments or debt securities;

(c) loans that, according to their terms, are to be repaid on demand by the lender or within 12 months after the date of the loan;

(d) if the private corporation concerned is a private company, loans to persons who, in relation to the company or to a majority shareholder or director of the company, are associated persons;

(e) if the private corporation concerned is a private unit trust scheme, loans to persons who, in relation to a trustee or beneficiary of the scheme, are associated persons;

(f) land use entitlements;

(g) [Section 60 Subsection (2) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] if the private corporation is a holding company within the meaning of section 9 of the Corporations Act, shareholding of that private corporation in a subsidiary of that private corporation;

(h) property consisting of a share or interest in a unit trust scheme that is a subsidiary under section 62 or an interest as a beneficiary in a discretionary trust as referred to in section 63 .

(3)  In addition to subsection (2) , property is not to be counted in calculating the unencumbered value of all the property of a private corporation for the purposes of this section if the private corporation is unable to satisfy the Commissioner that the property was obtained otherwise than to reduce, for the purposes of this Division, the ratio of its land holdings in all places, whether within or outside Australia, to the unencumbered value of all its property.

61.   Land holdings of private corporations

(1)  For the purposes of this Part, a land holding is any interest in land other than the estate or interest of a mortgagee, chargee or other secured creditor or a profit a prendre.

(1A)  [Section 61 Subsection (1A) inserted by No. 47 of 2011, s. 8, Applied:07 Dec 2011] For the purposes of this Part –

(a) an interest in a mineral tenement is taken to be an interest in land; and

(b) an interest in a pipeline, within the meaning of the Gas Pipelines Act 2000 , is taken to be an interest in land.

(2)  An interest in land, however –

(a) is not a land holding of a private company unless the interest of the private company in the land is a beneficial interest; and

(b) is not a land holding of a unit trust scheme unless the interest is held by the trustees in their capacity as trustees of the scheme.

(3)  This section is in aid of, but does not limit, the operation of any provision of this Part providing for constructive ownership of interests.

(4)  For the purposes of this Part, the vendor and the purchaser under an uncompleted agreement for the sale of land are taken to be separately entitled to the whole of the land.

(5)  [Section 61 Subsection (5) inserted by No. 47 of 2011, s. 8, Applied:07 Dec 2011] If a private corporation has an entitlement to, or interest in, land, anything that is part of the land as a fixture is to be taken into account in determining the extent of the private corporation's interest in land for the purposes of this Chapter even if the fixture is, or purports to be, the subject of an entitlement or interest separate from the ownership of the rest of the land.

(6)  [Section 61 Subsection (6) inserted by No. 47 of 2011, s. 8, Applied:07 Dec 2011] A fixture is not to be taken into account for the purposes of subsection (5) if the Commissioner is satisfied that it would not be just and reasonable to take the fixture into account in the circumstances.

(7)  [Section 61 Subsection (7) inserted by No. 47 of 2011, s. 8, Applied:07 Dec 2011] If –

(a) a private corporation has an entitlement to, or interest in, something that is part of land as a fixture; and

(b) that entitlement or interest is, or purports to be, separate from the ownership of the rest of the land –

the private corporation is to be regarded as having an interest in land for the purposes of this Chapter to the extent of its entitlement to, or interest in, the fixture.

(8)  [Section 61 Subsection (8) inserted by No. 47 of 2011, s. 8, Applied:07 Dec 2011] For the purposes of subsections (5) , (6) and (7) , anything that –

(a) under the authority (whether direct or indirect) of a mineral tenement is fixed to land that is the subject of that mineral tenement; and

(b) would be part of that land as a fixture if the mineral tenement were a freehold estate in the land –

is to be taken to be part of land as a fixture.

62.   Constructive ownership of land holdings and other property: subsidiaries

(1)  In addition to any interest in land or other property that it may hold in its own right, a private corporation is taken, for the purposes of this Part, to hold an interest (the value of which, for duty purposes, is to be calculated in accordance with subsection (2) ) in land or other property held by a subsidiary of the private corporation.

(2)  The value, for duty purposes, of the interest in land or other property that a private corporation is taken, by the operation of subsection (1) , to hold by virtue of a holding of a subsidiary ("the actual landholder") is that portion of the interest's unencumbered value to which the private corporation would be entitled on a winding-up of –

(a) the actual landholder; and

(b) every subsidiary of the private corporation that stands between the private corporation and the actual landholder in the ownership chain.

(3)  [Section 62 Subsection (3) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] For the purposes of this Part, a private company ("Company A") is the subsidiary of another private company ("Company B") if Company A is a subsidiary, within the meaning of the Corporations Act, of Company B.

(4)  For the purposes of this Part, a private company is the subsidiary of a unit trust scheme if the trustees of the scheme, in their capacities as trustees of the scheme, have a majority interest in the private company.

(5)  For the purposes of this Part, a unit trust scheme is the subsidiary of a private corporation if the corporation has a majority interest in the scheme.

63.   Constructive ownership of land holdings and other property: discretionary trusts

(1)  A person or a member of a class of persons in whose favour, by the terms of a discretionary trust, capital the subject of the trust may be applied –

(a) in the event of the exercise of a power or discretion in favour of the person or class; or

(b) in the event that a discretion conferred under the trust is not exercised –

is, for the purposes of this section, a beneficiary of the trust.

(2)  A beneficiary of a discretionary trust is taken to own or to be otherwise entitled to the property the subject of the trust, unless the Commissioner, being satisfied that the application of this subsection in the particular case would be inequitable, determines otherwise.

(3)  For the purposes of this Part, any property that is the subject of a discretionary trust is taken to be the subject of any other discretionary trust –

(a) that is; or

(b) any trustee of which (in the capacity of trustee) is –

a beneficiary of it, unless the Commissioner, being satisfied that the application of this subsection in the particular case would be inequitable, determines otherwise.

(4)  Subsection (3) extends to apply to property that is the subject of a discretionary trust only by the operation of that subsection.

(5)  In this section,

person includes a private corporation or a subsidiary of a private corporation.

Division 2 - Acquisitions of interests in private corporations

64.   What are interests and majority interests in private corporations?

(1)  A person has an interest in a private corporation if the person has an entitlement (otherwise than as a creditor or other person to whom the corporation is liable) to a distribution of property from the corporation on a winding-up of the corporation or otherwise.

(2)  [Section 64 Subsection (2) amended by No. 8 of 2008, s. 9, Applied:02 May 2008] A person who, by virtue of subsection (1) , has an interest in a private corporation has a majority interest in the corporation if the person, in the event of a distribution of all the property of the corporation immediately after the interest was acquired, would be entitled to 50% or more of the property distributed.

(3)  An interest in a private corporation is not counted for the purposes of this section if –

(a) the interest concerned is an interest in a private company acquired before 1 January 1990; or

(b) the interest concerned is an interest in a private unit trust acquired before 1 January 1990; or

(c) the interest concerned was acquired at a time when the private corporation did not hold land in Tasmania.

(4)  In this section,

person includes a private corporation.

65.   How may an interest be acquired?

For the purposes of this Part, an interest in a land-rich private corporation may be acquired by means of –

(a) the purchase, gift, allotment or transfer of any share or unit in a private corporation; or

(b) the variation, abrogation or alteration of a right attaching to any such share or unit; or

(c) the redemption, surrender or cancellation of any such share or unit; or

(d) the variation or alteration of a right of a holder of any such share or unit, including on payment of a call on partially paid-up shares; or

(e) in the case of a company limited by guarantee, becoming a member of the company, removing a person from membership of the company or altering members' rights –

or by any combination of the means referred to in paragraphs (a) , (b) , (c) , (d) and (e) .

Division 3 - Charging of duty

66.   When does a liability for duty arise?

A liability for duty charged by this Part arises when a relevant acquisition is made.

67.   What is a relevant acquisition?

For the purposes of this Division, a person who –

(a) acquires an interest in a land-rich private corporation –

(i) that is of itself a majority interest in the corporation; or

(ii) that, when aggregated with other interests in the corporation held by the person or an associated person, results in an aggregation that amounts to a majority interest in the corporation; or

(b) having a majority interest, or an interest described in paragraph (a)(ii) , in a land-rich private corporation, acquires a further interest in the corporation –

has made a relevant acquisition.

68.   Acquisition statements

(1)  A person who has made a relevant acquisition must prepare a statement (an "acquisition statement") and lodge it with the Commissioner.

(2)  The acquisition statement is to be prepared in a form approved by the Commissioner and must contain the following information:

(a) the name and address of the person who has acquired the interest;

(b) the date of the relevant acquisition;

(c) particulars of the interest acquired;

(d) particulars of the total interest of the person and any associated person in the private corporation at that date;

(e) the unencumbered value of all land holdings in Tasmania of the private corporation as at the date of the relevant acquisition and as at the date of acquisition of each interest acquired in the corporation during the 3 years prior to the date of the relevant acquisition;

(f) the unencumbered value of the property of the private corporation at the date of the relevant acquisition;

(g) the amount of duty paid under this Act or under a law of another Australian jurisdiction in respect of each earlier acquisition of an interest referred to in paragraph (e) ;

(h) such other information as the Commissioner may require.

69.   When must duty be paid?

A tax default does not occur for the purposes of the Taxation Administration Act 1997 if duty is paid within 3 months after the liability to pay the duty arises.

70.   Who is liable to pay the duty?

(1)  Duty chargeable under this Part is payable by the person who makes the relevant acquisition, except as provided by subsection (2) .

(2)  If a relevant acquisition results from an aggregation of the interests of associated persons, the person who made the relevant acquisition and the associated person or persons are jointly and severally liable for payment of the duty.

71.   How duty is charged on relevant acquisitions

(1)  If an acquisition statement does not disclose any acquisitions during the 3 years preceding the relevant acquisition, duty is chargeable, at the rate specified under this Act for a transfer of dutiable property, on the amount calculated by multiplying the unencumbered value of all land holdings of the private corporation in Tasmania (calculated at the date of acquisition of the interest acquired) by the proportion of that value represented by the interest acquired in the relevant acquisition.

(2)  If an acquisition statement discloses one or more acquisitions during the 3 years preceding the relevant acquisition, duty is chargeable, at the rate specified under this Act for a transfer of dutiable property, on the aggregate of amounts severally calculated, in the manner provided by subsection (1) , in respect of each interest required to be disclosed in the statement.

(3)  Duty payable under this section is to be reduced by the sum of the duty paid or payable under this Act in respect of the acquisition, during the 3 years preceding the relevant acquisition, by the person or any associated person of an interest in the same private corporation, but only in proportion to the extent to which the duty paid or payable is attributable to the amount of the duty payable under this section.

(4)  Duty payable under this section is to be reduced by an amount (if any) calculated in accordance with the following formula:

where –

A is the unencumbered value of the land holdings in Tasmania of the private corporation at the time the dutiable acquisition was made;

B is the unencumbered value of all property of the private corporation at that time;

[Section 71 Subsection (4) amended by No. 24 of 2002, s. 18, Applied:01 Jul 2002]

[Section 71 Subsection (4) amended by No. 24 of 2002, s. 18, Applied:01 Jul 2002] C is any marketable securities duty paid or payable under a law of another Australian jurisdiction.

(5)  If a relevant acquisition is made owing to the aggregation of the interests of associated persons, but the Commissioner is satisfied that the associated persons acquired their respective interests independently and for no common purpose, the Commissioner may assess and charge duty on the relevant acquisition without aggregating the interests of the person who made it with the interests of associated persons.

(6)  This section is subject to section 75 and to the other provisions of Division 4 .

Division 4 - General and supplemental

72.   Exemptions

(1)  An acquisition by a person of an interest in a private corporation is an exempt acquisition –

(a) if the land the subject of the interest concerned could have been acquired by the person in a manner that does not result in a liability to pay ad valorem duty under Chapter 2 ; or

(b) if the interest was acquired in the person's capacity as –

(i) a receiver or trustee in bankruptcy; or

(ii) a liquidator; or

(iii) an executor or administrator of the estate of a deceased person but does not extend to subsequent acquisitions by the executor or administrator on behalf of the estate; or

(c) [Section 72 Subsection (1) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] if the interest was acquired solely as the result of the making of a compromise or arrangement under Part 5.1 of the Corporations Act that has been approved by the court, not being a compromise or arrangement that the Commissioner is satisfied was made with the intention of defeating the operation of this Part; or

(d) if the interest concerned is acquired solely from a pro rata increase in the interests of all shareholders or unit holders; or

(e) if the interest was acquired solely as the result of the distribution of the estate of a deceased person, whether effected in the ordinary course of execution of a will or codicil or administration of an intestate estate or as the result of the order of a court, made under the Testator's Family Maintenance Act 1912 or otherwise, varying the application of the provisions of a will or codicil or varying the application of the rules governing the distribution of the property of an intestate estate; or

(f) if the interest was acquired by the parties to a marriage that is dissolved or annulled, or in the opinion of the Commissioner has irretrievably broken down, or by either of them, or by any child of the marriage under the age of 18 years, in accordance with –

(i) a document registered or approved under the Family Law Act 1975 of the Commonwealth; or

(ia) [Section 72 Subsection (1) amended by No. 121 of 2001, s. 6, Applied:17 Dec 2001] a financial agreement made under section 90B, 90C or 90D of that Act; or

(ii) an order of a court under that Act; or

(fa) [Section 72 Subsection (1) amended by No. 6 of 2010, s. 10, Applied:08 Oct 2008] if the interest was acquired by the parties to a de facto relationship that has been terminated, or by either of them, or by a child of the relationship under the age of 18 years, in accordance with –

(i) a document registered or approved under the Family Law Act 1975 of the Commonwealth; or

(ii) a financial agreement made under section 90UB, 90UC or 90UD of that Act; or

(iii) an order of a court under that Act; or

(g) [Section 72 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] if the interest was acquired by the partners in a personal relationship that is terminated, or by either of them, or by a child of the partners to that relationship who has not attained the age of 18 years, in accordance with an order of a court made under the Relationships Act 2003 ; or

(h) to the extent that –

(i) [Section 72 Subsection (1) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] [Section 72 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 72 Subsection (1) amended by No. 6 of 2010, s. 10, Applied:08 Oct 2008] for purposes of or ancillary to the acquisition of an interest referred to in paragraph (f) , (fa) or (g) , the acquisition consists of the transfer of a share that is matrimonial property or relationship property to a person not a party to the relevant marriage or personal relationship, in order to comply with a requirement of or prescribed under the Corporations Act; or

(ii) [Section 72 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] the acquisition consists of a declaration of trust, by the transferee of a share transferred as referred to in subparagraph (i) , for the benefit of a party to the marriage or personal relationship.

(2)  Parties to a marriage or either of them or a child of the marriage under the age of 18 years are entitled to a refund of duty paid on a relevant acquisition where –

(a) ad valorem duty was paid on the relevant acquisition; and

(b) the acquisition was pursuant to –

(i) a document registered or approved under the Family Law Act 1975 of the Commonwealth; or

(ii) an order of the court under that Act; and

(c) the marriage was dissolved or annulled or the Commissioner is satisfied that it has irretrievably broken down.

(3)  [Section 72 Subsection (3) inserted by No. 6 of 2010, s. 10, Applied:08 Oct 2008] Parties to a de facto relationship or either of them or a child of the relationship under the age of 18 years are entitled to a refund of duty paid on a relevant acquisition where –

(a) ad valorem duty was paid on the relevant acquisition; and

(b) the acquisition was pursuant to –

(i) a document registered or approved under the Family Law Act 1975 of the Commonwealth; or

(ii) an order of the court under that Act; and

(c) the Commissioner is satisfied that the de facto relationship has been terminated.

(4)  [Section 72 Subsection (4) inserted by No. 14 of 2011, s. 11, Applied:28 Jun 2011] Parties to a personal relationship or either of them or a child of the relationship under the age of 18 years are entitled to a refund of duty paid on a relevant acquisition where –

(a) ad valorem duty was paid on the relevant acquisition; and

(b) the acquisition was pursuant to –

(i) a document registered or approved under the Relationships Act 2003 ; or

(ii) an order of the court under that Act; or

(iii) a prescribed agreement; and

(c) the Commissioner is satisfied that the personal relationship has been terminated.

(5)  [Section 72 Subsection (5) inserted by No. 14 of 2011, s. 11, Applied:28 Jun 2011] In this section –

child of the marriage includes –

(a) a child of either or both of the parties to the marriage; and

(b) a trustee of such a child;

child of the relationship means –

(a) a child of either or both of the parties to the relationship; and

(b) a trustee of such a child;

prescribed agreement means an agreement that is –

(a) a personal relationship agreement or separation agreement within the meaning of the Relationships Act 2003 ; and

(b) in accordance with paragraphs (b) , (c) , (d) and (e) of section 62(1) of the Relationships Act 2003 .

73.   Maximisation of entitlements on distribution of property

(1)  This section applies to any calculation, for the purposes of this Part, of the entitlement of a person (the "interested person") to participate in a distribution of the property of a private corporation, whether on a winding-up of the private corporation or otherwise.

(2)  A calculation is to be made based, firstly, on a distribution carried out in accordance with the constitution of the private corporation, and with any law relevant to the distribution, as in force at the time of distribution, and the entitlement of the interested person is to be evaluated accordingly.

(3)  Next, a calculation is to be made based on a distribution carried out after the interested person, and any other person whom the interested person has power to direct with respect to such a distribution or who is, in relation to the interested person, an associated person, had exercised all powers and discretions exercisable by them by reason of having acquired an interest in the private corporation concerned –

(a) to effect or compel an alteration to the constitution of the private corporation; and

(b) to vary the rights conferred by shares or units in the private corporation; and

(c) to effect or compel the substitution or replacement of shares or units in the private corporation with other shares or units in it –

in such a manner as would maximise the value of the entitlement, and the entitlement of the interested person is to be evaluated accordingly.

(4)  The results obtained by an evaluation of the interested person's entitlement in accordance with subsections (2) and (3) are then to be compared, and whichever evaluation results in a greater entitlement is the correct evaluation, for the purposes of this Part, of the entitlement, unless the Commissioner, being satisfied that the application of this subsection in the particular case would be inequitable, determines otherwise.

74.   Valuation of property

(1)  The provisions of this Act that apply to the ascertainment of the value of transfers chargeable with ad valorem duty apply in the same way to an acquisition statement under this Part and the value of land holdings mentioned in it.

(2)  If any arrangement affecting the dutiable value of dutiable land holdings that was entered into within 12 months before a relevant acquisition was brought about by any person with the intention of reducing the dutiable value of the land holdings, the Commissioner may –

(a) cause a valuation of the land holding to be made; and

(b) direct the valuer to disregard the arrangement for the purposes of the valuation; and

(c) assess duty on the basis of the valuation carried out in accordance with the direction.

75.   Phasing-in of duty

If the unencumbered value of land holdings in Tasmania of a private corporation exceeds $500 000 but does not exceed $750 000, the duty chargeable under this Part is to be calculated in accordance with the following formula:

where –

A is the unencumbered value of the land holdings in Tasmania of the private corporation at the time the dutiable acquisition was made;

[Section 75 Amended by No. 24 of 2002, s. 19, Applied:01 Jul 2002] B is the duty that, apart from this section, would be chargeable under this Part.

[Section 75 Amended by No. 24 of 2002, s. 19, Applied:01 Jul 2002]

76.   Agreements for sale or conveyance of land

(1)  If –

(a) at the time of acquisition of an interest by any person in a land-rich private corporation that necessitates the lodgment of an acquisition statement under Division 3 , the corporation was the vendor under an uncompleted agreement for the sale or conveyance of land; and

(b) the agreement is subsequently completed –

the Commissioner is to assess or reassess the statement as though the land the subject of the agreement was not, at the time of the acquisition concerned, a land holding of the corporation.

(2)  If –

(a) at the time of acquisition of an interest by any person in a land-rich private corporation that requires the lodgment by any person of an acquisition statement under Division 3 , the private corporation was the purchaser under an uncompleted agreement for the sale or conveyance of land; and

(b) the agreement is subsequently rescinded, annulled or otherwise terminated without completion –

the Commissioner is to assess or reassess the statement as though the land the subject of the agreement was not, at the time of the acquisition concerned, a land holding of the corporation.

(3)  In this section, a reference to a "land-rich private corporation" includes a reference to a subsidiary of the corporation.

77.   Duty concession: acquisitions securing financial accommodation

(1)  If the person lodging an acquisition statement under this Part in relation to the acquisition of an interest in a land-rich private corporation –

(a) informs the Commissioner at the time the statement is lodged that the acquisition is effected for the purpose of securing financial accommodation; and

(b) the Commissioner is satisfied that the acquisition is effected for that purpose –

the statement, in so far as it relates to that acquisition, is not chargeable with duty, except as provided by subsection (2) .

(2)  The statement is chargeable with duty at the expiration of the period of 5 years after the date of the acquisition (or such longer period as may be determined by the Commissioner in the particular case) if the interest concerned is not –

(a) re-acquired by the person from whom it was acquired; or

(b) in the case of an acquisition by way of mortgage, conveyed by the mortgagee to a third person in exercise of the mortgagee's power of sale –

within that period (or that longer period).

(3)  Section 68 does not apply to the re-acquisition by a person of the interest concerned.

PART 3 - .  .  .  .  .  .  .  .  

[Part 3 of Chapter 3 Repealed by No. 24 of 2002, s. 20, Applied:01 Jul 2002]

78.   

[Section 78 Subsection (1) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] [Section 78 Repealed by No. 24 of 2002, s. 20, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

79.   

[Section 79 Repealed by No. 24 of 2002, s. 20, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

80.   

[Section 80 Repealed by No. 24 of 2002, s. 20, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

81.   

[Section 81 Repealed by No. 24 of 2002, s. 20, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

82.   

[Section 82 Repealed by No. 24 of 2002, s. 20, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

83.   

[Section 83 Repealed by No. 24 of 2002, s. 20, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

84.   

[Section 84 Repealed by No. 24 of 2002, s. 20, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

PART 4 - Acquisition of land use entitlements by allotment of shares or issue of units

85.   When does a liability for duty arise?

[Section 85 Amended by No. 24 of 2002, s. 21, Applied:01 Jul 2002] A liability for duty charged by this Part arises when a land use entitlement is acquired by an allotment of shares or an issue of units to any person.

86.   When must duty be paid?

A tax default does not occur for the purposes of the Taxation Administration Act 1997 if duty is paid within 3 months after the liability to pay the duty arises.

87.   Who is liable to pay the duty?

Duty chargeable under this Part is payable by the person who acquires the land use entitlement.

88.   Acquisition of land use entitlement

(1)  A person who acquires a land use entitlement by an allotment of shares or an issue of units must lodge a statement (an "acquisition statement") with the Commissioner in respect of the entitlement.

(2)  The statement must be lodged within 3 months after the entitlement is so acquired.

89.   Form of statement

An acquisition statement required to be lodged by a person is to be in a form approved by the Commissioner and is to contain the following information:

(a) the name and address of the person;

(b) the name of the relevant company or unit trust;

(c) the date on which the land use entitlement was acquired;

(d) the consideration paid by the person for the relevant shares or units;

(e) such other information as may be required by the Commissioner.

90.   Assessment of duty

[Section 90 Substituted by No. 8 of 2008, s. 10, Applied:02 May 2008] An acquisition statement, in relation to the acquisition of a land use entitlement, that is required to be lodged with the Commissioner under section 88 is chargeable with duty at the general rate of duty set out in section 29 on the dutiable value of the land use entitlement acquired.

PART 5 - .  .  .  .  .  .  .  .  

[Part 5 of Chapter 3 Repealed by No. 24 of 2002, s. 22, Applied:01 Jul 2002] [Part 5 of Chapter 3 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Part 5 of Chapter 3 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013]

Division 1 - .  .  .  .  .  .  .  .  

[Division 1 of Part 5 of Chapter 3 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Division 1 of Part 5 of Chapter 3 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013]

91.   

[Section 91 Amended by No. 35 of 2009, s. 16, Applied:01 Jul 2009] [Section 91 Repealed by No. 24 of 2002, s. 22, Applied:01 Jul 2002] [Section 91 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Section 91 Amended by No. 35 of 2009, s. 16, Applied:01 Jul 2009] [Section 91 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013] .  .  .  .  .  .  .  .  

92.   

[Section 92 Repealed by No. 24 of 2002, s. 22, Applied:01 Jul 2002] [Section 92 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Section 92 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013] .  .  .  .  .  .  .  .  

Division 2 - .  .  .  .  .  .  .  .  

[Division 2 of Part 5 of Chapter 3 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Division 2 of Part 5 of Chapter 3 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013]

93.   

[Section 93 Repealed by No. 24 of 2002, s. 22, Applied:01 Jul 2002] [Section 93 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Section 93 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013] .  .  .  .  .  .  .  .  

94.   

[Section 94 Repealed by No. 24 of 2002, s. 22, Applied:01 Jul 2002] [Section 94 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Section 94 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013] .  .  .  .  .  .  .  .  

Division 3 - .  .  .  .  .  .  .  .  

[Division 3 of Part 5 of Chapter 3 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Division 3 of Part 5 of Chapter 3 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013]

95.   

[Section 95 Repealed by No. 24 of 2002, s. 22, Applied:01 Jul 2002] [Section 95 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Section 95 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013] .  .  .  .  .  .  .  .  

Division 4 - .  .  .  .  .  .  .  .  

[Division 4 of Part 5 of Chapter 3 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Division 4 of Part 5 of Chapter 3 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013]

96.   

[Section 96 Repealed by No. 24 of 2002, s. 22, Applied:01 Jul 2002] [Section 96 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Section 96 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013] .  .  .  .  .  .  .  .  

Division 5 - .  .  .  .  .  .  .  .  

[Division 5 of Part 5 of Chapter 3 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Division 5 of Part 5 of Chapter 3 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013]

97.   

[Section 97 Repealed by No. 24 of 2002, s. 22, Applied:01 Jul 2002] [Section 97 Inserted by No. 40 of 2006, s. 7, Applied:18 Dec 2006] [Section 97 Repealed by No. 41 of 2013, s. 23, Applied:21 Oct 2013] .  .  .  .  .  .  .  .  

Chapter 4 - .  .  .  .  .  .  .  .  

[Chapter 4 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002]

PART 1 - .  .  .  .  .  .  .  .  

[Part 1 of Chapter 4 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002]

98.   

[Section 98 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

99.   

[Section 99 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

100.   

[Section 100 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

101.   

[Section 101 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

102.   

[Section 102 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

103.   

[Section 103 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

104.   

[Section 104 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

PART 2 - .  .  .  .  .  .  .  .  

[Part 2 of Chapter 4 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002]

105.   

[Section 105 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

106.   

[Section 106 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

PART 3 - .  .  .  .  .  .  .  .  

[Part 3 of Chapter 4 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002]

107.   

[Section 107 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

108.   

[Section 108 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

109.   

[Section 109 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

110.   

[Section 110 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

PART 4 - .  .  .  .  .  .  .  .  

[Part 4 of Chapter 4 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002]

111.   

[Section 111 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

112.   

[Section 112 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

113.   

[Section 113 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

114.   

[Section 114 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

Chapter 5 - .  .  .  .  .  .  .  .  

[Chapter 5 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002]

PART 1 - .  .  .  .  .  .  .  .  

[Part 1 of Chapter 5 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002]

115.   

[Section 115 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

116.   

[Section 116 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

117.   

[Section 117 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

118.   

[Section 118 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

119.   

[Section 119 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

120.   

[Section 120 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

121.   

[Section 121 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

122.   

[Section 122 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

123.   

[Section 123 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

124.   

[Section 124 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

125.   

[Section 125 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

126.   

[Section 126 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

127.   

[Section 127 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

PART 2 - .  .  .  .  .  .  .  .  

[Part 2 of Chapter 5 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002]

128.   

[Section 128 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

129.   

[Section 129 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

130.   

[Section 130 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

131.   

[Section 131 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

132.   

[Section 132 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

133.   

[Section 133 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

134.   

[Section 134 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

PART 3 - .  .  .  .  .  .  .  .  

[Part 3 of Chapter 5 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002]

135.   

[Section 135 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

136.   

[Section 136 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

137.   

[Section 137 Repealed by No. 24 of 2002, s. 23, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

Chapter 6 - .  .  .  .  .  .  .  .  

[Chapter 6 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007]

PART 1 - .  .  .  .  .  .  .  .  

[Part 1 of Chapter 6 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007]

138.   

[Section 138 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

139.   

[Section 139 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

140.   

[Section 140 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

141.   

[Section 141 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

142.   

[Section 142 Subsection (2) amended by No. 121 of 2001, s. 7, Applied:01 Jul 2001] [Section 142 Subsection (3) amended by No. 60 of 2002, s. 14, Applied:01 Jul 2001] [Section 142 Subsection (3) substituted by No. 121 of 2001, s. 7, Applied:01 Jul 2001] [Section 142 Subsection (3) substituted by No. 36 of 2004, s. 18, Applied:01 Jul 2001] [Section 142 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

143.   

[Section 143 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

144.   

[Section 144 Subsection (2) substituted by No. 22 of 2005, s. 9, Applied:01 Jul 2006] [Section 144 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

145.   

[Section 145 Substituted by No. 121 of 2001, s. 8, Applied:01 Jul 2001] [Section 145 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

146.   

[Section 146 Subsection (1) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] [Section 146 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

PART 2 - .  .  .  .  .  .  .  .  

[Part 2 of Chapter 6 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007]

147.   

[Section 147 Subsection (1) amended by No. 121 of 2001, s. 9, Applied:01 Jul 2001] [Section 147 Subsection (2) amended by No. 22 of 2005, s. 10, Applied:01 Jul 2006] [Section 147 Subsection (3) substituted by No. 121 of 2001, s. 9, Applied:01 Jul 2001] [Section 147 Subsection (4) amended by No. 36 of 2004, s. 11, Applied:01 Dec 2004] [Section 147 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

148.   

[Section 148 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

149.   

[Section 149 Subsection (4) amended by No. 121 of 2001, s. 10, Applied:01 Jul 2001] [Section 149 Subsection (4) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] [Section 149 Subsection (6) amended by No. 121 of 2001, s. 10, Applied:01 Jul 2001] [Section 149 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

150.   

[Section 150 Subsection (1) substituted by No. 121 of 2001, s. 11, Applied:01 Jul 2001] [Section 150 Subsection (1) substituted by No. 36 of 2004, s. 12, Applied:01 Dec 2004] [Section 150 Subsection (5) amended by No. 121 of 2001, s. 11, Applied:01 Jul 2001] [Section 150 Subsection (6) omitted by No. 36 of 2004, s. 12, Applied:01 Dec 2004] [Section 150 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

151.   

[Section 151 Subsection (4) amended by No. 121 of 2001, s. 12, Applied:01 Jul 2001] [Section 151 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

152.   

[Section 152 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

153.   

[Section 153 Subsection (1) substituted by No. 121 of 2001, s. 13, Applied:01 Jul 2001] [Section 153 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

PART 3 - .  .  .  .  .  .  .  .  

[Part 3 of Chapter 6 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007]

154.   

[Section 154 Subsection (4) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] [Section 154 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

155.   

[Section 155 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

156.   

[Section 156 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

157.   

[Section 157 Subsection (1) amended by No. 36 of 2004, s. 13, Applied:01 Dec 2004] [Section 157 Subsection (1) amended by No. 121 of 2001, s. 14, Applied:01 Jul 2001] [Section 157 Subsection (1) amended by No. 60 of 2002, s. 15, Applied:01 Jul 2002] [Section 157 Subsection (2) amended by No. 36 of 2004, s. 13, Applied:01 Dec 2004] [Section 157 Subsection (2) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 157 Subsection (2) amended by No. 36 of 2004, s. 13, Applied:01 Dec 2004] [Section 157 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

PART 4 - .  .  .  .  .  .  .  .  

[Part 4 of Chapter 6 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007]

158.   

[Section 158 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

159.   

[Section 159 Subsection (3) substituted by No. 80 of 2001, Sched. 1, Applied:01 Jul 2002] [Section 159 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

160.   

[Section 160 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

161.   

[Section 161 Repealed by No. 22 of 2005, s. 12, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

Chapter 7 - Insurance

PART 1 - General Insurance

162.   Imposition of duty

(1)  This Part charges duty on the amount of the premium paid in relation to a contract of insurance that effects general insurance (whether or not it also effects other kinds of insurance).

(2)  The amount of duty is required to be paid each time a premium is paid in relation to a contract of insurance that effects general insurance.

163.   What is general insurance?

(1)  General insurance is any kind of insurance that is applicable to –

(a) property in Tasmania; or

(b) a risk, contingency or event concerning an act or omission that, in the normal course of events, may occur within, or partly within, Tasmania –

or both.

(2)  [Section 163 Subsection (2) amended by No. 3 of 2006, s. 14, Applied:01 Jul 2007] Notwithstanding subsection (3) , general insurance includes insurance effected in respect of trauma or a disabling or incapacitating injury, sickness, condition or disease regardless of how, or by whom, the insurance is effected.

(3)  General insurance does not include life insurance or insurance that is exempt from duty by Part 5 .

164.   What is a premium in relation to general insurance?

(1)  Premium, in relation to general insurance, means the total consideration given to an insurer or an insurance intermediary by or on behalf of the insured person to effect insurance without deductions for any amounts paid or payable, or allowed or allowable, by way of commission or discount to an insurance intermediary.

(2)  Premium includes a fire service levy paid or payable in connection with insurance by an insurer or any other person.

(3)  Premium does not include –

(a) an amount paid to an insurance intermediary by the insured person as a fee, provided that the amount can be clearly identified as a fee; or

(b) an amount of duty under this or a corresponding Act.

(4)  It is immaterial where the amount is paid or where the insurance is effected.

165.   When is a premium paid?

(1)  A premium, or an instalment of a premium, is paid for the purposes of this Chapter when the first of the following events occurs:

(a) [Section 165 Subsection (1) amended by No. 6 of 2010, s. 6, Applied:09 Jul 2010] the premium or instalment is received by the insurer or insurance intermediary;

(b) [Section 165 Subsection (1) amended by No. 6 of 2010, s. 6, Applied:09 Jul 2010] an account of the insurer or insurance intermediary is credited with the amount of the premium or instalment.

(2)  [Section 165 Subsection (2) amended by No. 6 of 2010, s. 6, Applied:09 Jul 2010] A premium or instalment of a premium (apart from the case where the premium or instalment is received directly by an insurer or an insurance intermediary) is taken to have been received by an insurer or an insurance intermediary if it is received by another person on the insurer's or insurance intermediary's behalf.

166.   What duty is payable?

[Section 166 Amended by No. 23 of 2012, s. 5, Applied:01 Oct 2012] The amount of duty chargeable on the premium paid in relation to a contract of insurance is 10% of the amount of the premium.

167.   Who is liable to pay the duty?

[Section 167 Amended by No. 121 of 2001, s. 15, Applied:01 Jul 2001] The insurer is liable to pay the duty, except as provided by section 168 .

168.   Circumstances in which duty is payable by the insured person

(1)  This section applies to a person who obtains, effects or renews any general insurance as an insured person with a person who is not a registered insurer.

(2)  A person to whom this section applies must, within 21 days after the end of the month in which the premium relating to the insurance is paid to an insurer (not being a registered insurer) or insurance intermediary –

(a) lodge with the Commissioner a return in the approved form containing such particulars and information as to the premium and the insurance as the Commissioner may require; and

(b) pay to the Commissioner as duty the amount calculated in accordance with section 166 .

(3)  A person to whom this section applies is taken to have complied with this section if the person's duty under this section is discharged by another person acting on the person's behalf.

(4)  The payment of a periodic premium in respect of disability income insurance that is continued, but not renewed, on the payment of the premium is taken to effect the insurance for the purposes of this section.

169.   Records to be kept

A person to whom section 168 applies must maintain records that contain information as to –

(a) the nature and location of the property insured; and

(b) the nature and location of each risk, contingency or event insured; and

(c) the amount of the premiums paid in relation to each contract of insurance.

170.   Refunds where premiums are returned

(1)  A general insurer or a person to whom section 168 applies is entitled to a refund of duty if the general insurer refunds, or there is refunded to the person, the whole or a part of a dutiable premium in respect of the contract of insurance for which duty has been paid.

(2)  The refund is the duty paid on the amount of the premium refunded.

(3)  A general insurer to whom duty is refunded may apply the amount of the refund to offset any other payment required to be made under this Chapter by the general insurer.

PART 2 - Life Insurance

171.   Imposition of duty

This Part charges duty on a policy of life insurance.

172.   What is life insurance?

(1)  Life insurance is any insurance or assurance in respect of –

(a) a life or lives; or

(b) an event or contingency relating to or depending on a life or lives –

of a person whose principal place of residence is, or persons whose principal places of residence are, in Tasmania at the time that the policy that effects the insurance is issued, but does not include insurance against accident.

(2)  Insurance against accident is any insurance under which payment is agreed to be made on the death of a person only from accident or violence or otherwise than from a natural cause or as compensation for personal injury.

(3)  A policy of mortgage insurance is a temporary policy of life insurance effected by, or on behalf of, a borrower to provide insurance in the event of the death of the borrower for the repayment of a loan taken out by the borrower.

173.   Obligation to make out and execute a policy of life insurance

A life company must, on or before the twenty-first day of each month –

(a) make out and execute a policy of life insurance for each contract or agreement for life insurance effected by or on behalf of the life company in the preceding month; and

(b) endorse the policy in the manner approved by the Commissioner.

174.   What duty is payable?

(1)  The amount of duty chargeable on a policy of life insurance, other than a temporary or term insurance policy, or a mortgage insurance policy is  –

(a) if the sum insured does not exceed $2 000, 10 cents per $200, or part, of the sum insured; or

(b) if the sum insured exceeds $2 000, $1 plus 20 cents per $200, or part, of the sum insured that exceeds $2 000.

(2)  The amount of duty chargeable on a temporary or term insurance policy is 5% of the first year's premium on the policy.

(3)  The amount of duty chargeable on a mortgage insurance policy is 2% of the premium on the policy.

(4)  In determining the sum insured by a policy of life insurance, any additional amount payable under the policy in the event of the insured dying as the result of an accident is to be disregarded.

(5)  [Section 174 Subsection (5) amended by No. 41 of 2013, s. 24, Applied:21 Oct 2013] The amount of duty chargeable on an annuity –

(a) issued, created or sold by a life company; or

(b) purchased by a person from a life company –

is $50.

(6)  For the purposes of subsection (5) a contract is an annuity if it satisfies the following requirements:

(a) the contract provides for the periodic payment of money to the annuitant in fee for life or for a specified term of years as an annual or more frequent entitlement;

(b) the periodic payment is a sum certain expressed as a dollar amount, but may be varied according to a predetermined formula;

(c) the periodic payments are not derived from the money paid for the contract but are derived solely from the contract and comprise income and not the repayment of capital.

175.   Who is liable to pay the duty?

The person issuing the policy of life insurance is liable to pay the duty, except as provided by section 176 .

176.   Circumstances in which duty is payable by the insured person

(1)  This section applies to a person (not being a registered insurer) who effects a policy of life insurance as an insured person with a person who is not a registered insurer.

(2)  A person to whom this section applies must, within 21 days after the end of the month in which the policy of life insurance was effected –

(a) lodge with the Commissioner a return in the approved form containing such particulars and information as the Commissioner may require; and

(b) pay to the Commissioner as duty the amount calculated in accordance with section 174 .

(3)  A person to whom this section applies is taken to have complied with this section if the person's duty under this section is discharged by another person acting on the person's behalf.

177.   Refund on cancellation of policy of life insurance

(1)  If a premium is refunded to a person because the person cancels a policy of life insurance within 30 days after receiving the policy, a person who has paid duty in respect of the policy is entitled to a refund of the duty paid on the amount of the premium refunded.

(2)  A life company that is refunded duty may apply the amount of the refund to offset any other payment required to be made by the life company under this Chapter.

PART 3 - How is duty paid by an insurer?

178.   Who is an insurer?

(1)  An insurer is –

(a) a life company that writes life insurance; or

(b) a general insurer.

(2)  A general insurer is a person –

(a) who writes general insurance; and

(b) who does so otherwise than as an insurance intermediary; and

(c) [Section 178 Subsection (2) amended by No. 3 of 2006, s. 10, Applied:26 Jun 2006] who is authorised as a general insurer under the Insurance Act 1973 of the Commonwealth.

179.   Insurers must be registered

An insurer must be registered under this Part.

Penalty:  Fine not exceeding 100 penalty units.

180.   Application for registration

The Commissioner must register an insurer who applies in the approved form for registration under this Part.

181.   Cancellation of registration by the Commissioner

(1)  The Commissioner may, by written notice, cancel an insurer's registration under this Part –

(a) [Section 181 Subsection (1) amended by No. 8 of 2008, s. 11, Applied:02 May 2008] if the insurer's authorisation under the Insurance Act 1973 of the Commonwealth is terminated; or

(b) if the insurer is made bankrupt or, being a company, is wound up; or

(c) if the insurer is convicted of an offence under an Act imposing duty; or

(d) if the insurer's registration was made in error or as a consequence of a false or misleading statement made in relation to the application for registration; or

(e) if the Commissioner is of the opinion that the insurer has ceased to write general insurance in Tasmania; or

(f) if the insurer ceases to be a life company; or

(g) for any other reason the Commissioner thinks sufficient.

(2)  A cancellation of registration has effect from the date specified for the purpose by the Commissioner in the notice of cancellation.

182.   Cessation of business and cancellation of registration by the insurer

(1)  A registered insurer who ceases to write insurance business in Tasmania must –

(a) give written notice of that fact to the Commissioner; and

(b) lodge the return required to be lodged under this Part; and

(c) pay the duty payable in connection with the return on or before the twenty-first day of the month after which the notice is given.

Penalty:  Fine not exceeding 100 penalty units.

(2)  The notice cancels the insurer's registration under this Part on the day on which it is received by the Commissioner.

183.   Register of insurers

(1)  The Commissioner must keep a register of the insurers who are registered under this Part.

(2)  Anyone may inspect the register without charge at the Commissioner's principal office during the hours that the office is open to the public.

184.   Monthly returns and payment of duty

A registered insurer must, on or before the twenty-first day of each month –

(a) lodge with the Commissioner a return in the approved form showing –

(i) the total amount of all premiums for general insurance paid to the registered insurer in the preceding month other than exempt insurance under Part 5 ; and

(ii) the total duty payable on policies of life insurance (excluding temporary or term insurance, mortgage insurance and annuities dutiable under section 174(4) ) effected in the preceding month other than exempt insurance under Part 5 ; and

(iii) the total amount of all first year's premiums for temporary or term life insurance received by or on behalf of the registered insurer in the preceding month other than exempt insurance under Part 5 ; and

(iv) the total amount of all premiums in respect of policies of mortgage insurance received by or on behalf of the registered insurer in the preceding month other than exempt insurance under Part 5 ; and

(v) [Section 184 Amended by No. 41 of 2013, s. 25, Applied:21 Oct 2013] the total amount of all annuities effected in the preceding month at the nominal $50 rate; and

(b) pay to the Commissioner as duty the amounts determined in accordance with sections 166 and 174 .

185.   Recovery of duty by registered insurer

(1)  A registered insurer may require a person by whom a premium is payable to the insurer to pay the insurer an amount equal to the duty chargeable.

(2)  The requirement is duly made if it is contained in a written request that is given to the person and that specifies the amount of the duty.

(3)  If the amount is not paid, the insurer may recover it as a debt.

PART 4 - Apportionment

Division 1 - Apportionment of premiums and other amounts between Australian jurisdictions

186.   Application of Division 1

(1)  This Division applies to a contract of insurance –

(a) that insures –

(i) property in Tasmania as well as property in another place; or

(ii) a risk, contingency or event concerning an act or omission that, in the normal course of events, may occur within, or partly within, Tasmania as well as within, or partly within, another place –

or both; or

(b) that insures –

(i) lives; or

(ii) any event or contingency relating to or depending on lives –

or both, of persons whose principal places of residence are variously in Tasmania or another place at the time the policy is issued.

(2)  It is the intention of this Division –

(a) to provide the means for apportioning premiums paid and other amounts in relation to a contract of insurance having regard to the principle in sections 163 and 172 ; and

(b) to avoid multiple duty as between Australian jurisdictions; and

(c) to give Australian jurisdictions their appropriate share of duty by means of the apportionment.

187.   Schedule of Apportionment

(1)  The Commissioner, from time to time, may adopt a Schedule of Apportionment for the purpose of apportioning premiums and other amounts in relation to insurance in accordance with this Division.

(2)  The Schedule of Apportionment may be developed in consultation with any person the Commissioner considers suitable.

188.   Apportionment in practice

(1)  A premium or an amount is to be apportioned in accordance with the Schedule of Apportionment adopted for the time being, except as provided by this section.

(2)  An insurer or an insured person may apply in writing to the Commissioner to apportion a premium or an amount on a basis other than that provided by the Schedule of Apportionment.

(3)  The Commissioner may apportion the premium or amount on the basis referred to in subsection (2) .

(4)  In particular, if the Commissioner is not satisfied that a premium paid or another amount in relation to a contract of insurance has been properly apportioned for each risk insured, the Commissioner may determine the apportionment, reassess the liability to duty and charge duty accordingly.

Division 2 - Apportionment of premiums and other amounts as between different types of insurance

189.   Apportionment between different types of insurance

(1)  This section applies to apportionment between different types of insurance that are relevant to determining liability for duty, such as general insurance, life insurance and insurance that is exempt from duty.

(2)  This section does not apply to the apportionment of a premium or another amount between Tasmania and another place, as provided for under Division 1 .

(3)  If the Commissioner is not satisfied that a premium paid or another amount in relation to a contract of insurance that effects different types of insurance has been properly apportioned, the Commissioner may determine the apportionment, reassess the liability to duty and charge duty accordingly.

PART 5 - Exempt insurance

190.   What insurance is exempt from duty?

The following insurances are exempt from duty under this Chapter:

(a) insurance covering only property of the Crown;

(b) insurance effected by a separate policy in a distinct sum against loss by fire on the tools, implements of work or labour owned by any working mechanic, artificer, handcrafter or labourer;

(c) [Section 190 Amended by No. 41 of 2013, s. 26, Applied:21 Oct 2013] medical benefits insurance, being insurance effected by a contract of insurance that is issued by a private health insurer within the meaning of the Private Health Insurance Act 2007 of the Commonwealth and that provides hospital benefits or medical benefits (or both), whether or not other benefits are also provided;

(d) insurance required under section 97 of the Workers Rehabilitation and Compensation Act 1988 ;

(e) insurance effected under the Motor Accidents (Liabilities and Compensation) Act 1973 ;

(f) insurance in respect of the hull of a floating vessel used primarily for commercial purposes;

(g) insurance in respect of the freight of goods;

(h) reinsurance (being a contract or contracts between 2 parties by which one party indemnifies the other against liability or payment under a contract or contracts of insurance or reinsurance);

(ha) [Section 190 Amended by No. 8 of 2008, s. 12, Applied:02 May 2008] insurance taken out by a self-insurer, within the meaning of the Workers Rehabilitation and Compensation Act 1988 , to indemnify himself or herself against liability or payment in relation to workers compensation claims;

(i) insurance taken out by the University of Tasmania;

(j) insurance taken out by the Commission for the Conservation of Antarctic Marine Living Resources;

(k) [Section 190 Amended by No. 8 of 2008, s. 12, Applied:02 May 2008] insurance taken out by the licensee, proprietor, governors, trustee, committee of management or resident manager of a medical establishment for or in connection with the purposes of the medical establishment;

(l) a cover note in respect of life insurance in pursuance of which a duly stamped policy is issued within 3 months of the date of the cover note;

(m) [Section 190 Amended by No. 24 of 2002, s. 24, Applied:01 Jul 2002] a policy of life insurance under which the sum insured does not exceed $200;

(n) [Section 190 Amended by No. 24 of 2002, s. 24, Applied:01 Jul 2002] insurance effected by a separate policy in a distinct sum against a claim for public liability;

(o) [Section 190 Amended by No. 24 of 2002, s. 24, Applied:01 Jul 2002] insurance in a distinct sum against a claim for public liability included in a package of insurance other than in a domestic policy covering home or contents or both home and contents.

PART 6 - Miscellaneous

191.   Effect on contract of insurance of failure to comply with this Chapter

A failure to comply with this Chapter does not render a contract of insurance illegal or invalid.

Chapter 8 - Motor vehicle registration

PART 1 - Introduction and overview

192.   Imposition of duty

This Chapter charges duty on –

(a) an application to register a motor vehicle under the Vehicle and Traffic Act 1999 if –

(i) the vehicle has not previously been registered under that Act; or

(ii) the person in whose name the vehicle is to be registered differs (or the persons in whose names the motor vehicle is to be registered differ) from the person or persons in whose name or names the vehicle was last registered; or

(b) [Section 192 Amended by No. 40 of 2006, s. 8, Applied:18 Dec 2006] [Section 192 Amended by No. 8 of 2008, s. 13, Applied:02 May 2008] a notice of a change of beneficial ownership of a motor vehicle given under the Vehicle and Traffic Act 1999 ; or

(c) [Section 192 Amended by No. 40 of 2006, s. 8, Applied:18 Dec 2006] a notification under section 216 of a change of purpose from that specified in section 214(1) .

193.   Lodgment of statement of dutiable value

(1)  A person who is required by law to make an application to register a motor vehicle under the Vehicle and Traffic Act 1999 or give a notice of a change of beneficial ownership must lodge with the application for registration or the notice a statement of the dutiable value of the vehicle, unless the application or notice is not chargeable with duty under this Chapter.

Penalty:  Fine not exceeding 100 penalty units.

(2)  A failure to lodge the statement is a tax default for the purpose of the Taxation Administration Act 1997 .

194.   Failure to register

If the Commissioner is satisfied that a person has failed to make an application to register a motor vehicle or give a notice of a change of beneficial ownership as required by the Vehicle and Traffic Act 1999 , the Commissioner may –

(a) determine the dutiable value of the motor vehicle as at the date the person became the owner or operator of the vehicle; and

(b) assess the duty payable by that person as if an application had been lodged or a notice had been given by that person under that Act; and

(c) issue a notice of assessment to that person.

195.   Who is liable to pay the duty?

Duty is payable by –

(a) the applicant for registration of the motor vehicle; or

(b) in the case of a change in beneficial ownership of a motor vehicle, the person acquiring the beneficial ownership; or

(c) in the case where a reassessment of tax liability is made under section 19 of the Taxation Administration Act 1997 in respect of an application to register a motor vehicle lodged by a motor dealer, the motor dealer.

196.   When does duty become payable?

Duty becomes payable on –

(a) the date on which –

(i) [Section 196 Amended by No. 121 of 2001, s. 16, Applied:17 Dec 2001] the motor vehicle is registered or the registration is transferred in pursuance of the relevant application; or

(ii) a notice of a change in beneficial ownership is lodged with the Registrar of Motor Vehicles; or

(b) the date specified in a notice of assessment issued under section 194 .

196A.   Effect of failure to pay duty

[Section 196A Inserted by No. 40 of 2006, s. 9, Applied:18 Dec 2006] A failure to pay duty when it becomes payable under section 196 is a tax default for the purposes of the Taxation Administration Act 1997 .

197.   What is the rate of duty?

(1)  [Section 197 Subsection (1) amended by No. 18 of 2007, s. 5, Applied:01 Oct 2007] [Section 197 Subsection (1) amended by No. 121 of 2001, s. 17, Applied:01 Mar 2002] The rate of duty is $3 per $100, or part, of the dutiable value of the motor vehicle, except as provided by subsections (2) , (3) , (3A) and (3B) .

(2)  The rate of duty for a motor vehicle that is a passenger vehicle is as follows:

(a) if the dutiable value of the passenger vehicle does not exceed $35 000, $3 per $100, or part;

(b) [Section 197 Subsection (2) amended by No. 18 of 2007, s. 5, Applied:01 Oct 2007] if the dutiable value of the passenger vehicle exceeds $35 000 but does not exceed $40 000, $1 050 plus $11 for every $100 or part of $100 of the dutiable value of the passenger vehicle that exceeds $35 000;

(c) [Section 197 Subsection (2) amended by No. 18 of 2007, s. 5, Applied:01 Oct 2007] if the dutiable value of the passenger vehicle exceeds $40 000, for every $100 or part of $100 of that dutiable value, $4.

(3)  [Section 197 Subsection (3) amended by No. 18 of 2007, s. 5, Applied:01 Oct 2007] The rate of duty applicable to a heavy vehicle the dutiable value of which does not exceed $2 000 or to a motor vehicle the dutiable value of which does not exceed $600 is $20.

(3A)  [Section 197 Subsection (3A) inserted by No. 121 of 2001, s. 17, Applied:01 Mar 2002] [Section 197 Subsection (3A) substituted by No. 18 of 2007, s. 5, Applied:01 Oct 2007] Despite subsection (2) , the rate of duty for a new motor vehicle, other than a heavy vehicle, for which a manufacturer's fleet discount has been provided is $3.50 per $100, or part, of the dutiable value of the new motor vehicle.

(3B)  [Section 197 Subsection (3B) inserted by No. 18 of 2007, s. 5, Applied:01 Oct 2007] The rate of duty for a heavy vehicle is $1.00 per $100, or part, of the dutiable value of the heavy vehicle.

(4)  [Section 197 Subsection (4) amended by No. 18 of 2007, s. 5, Applied:01 Oct 2007] A passenger vehicle is a motor vehicle, other than a heavy vehicle or motor cycle, that is –

(a) constructed principally for the carriage of passengers; or

(b) designed principally for the conveyance of not more than 9 adult persons, including the driver, and is constructed either on a truck chassis or with special features for off-road operation.

(5)  A passenger vehicle does not include a motor vehicle that –

(a) [Section 197 Subsection (5) amended by No. 18 of 2007, s. 5, Applied:01 Oct 2007] has a utility or panel van type body in which the forward part of the body form and the greater part of the mechanical equipment are the same as those in a passenger vehicle manufactured by the manufacturer of the motor vehicle; or

(b) is constructed for the carriage of passengers and equipped to seat more than 9 adult persons, including the driver.

(6)  [Section 197 Subsection (6) inserted by No. 121 of 2001, s. 17, Applied:01 Mar 2002] A manufacturer's fleet discount in respect of a motor vehicle is a discount –

(a) [Section 197 Subsection (6) amended by No. 18 of 2007, s. 5, Applied:01 Oct 2007] that is given to the purchaser of the motor vehicle by the manufacturer of the motor vehicle; and

(b) [Section 197 Subsection (6) amended by No. 18 of 2007, s. 5, Applied:01 Oct 2007] that is deducted from the normal retail price of the motor vehicle; and

(c) that is not available to the general public.

198.   What is the dutiable value of a motor vehicle?

(1)  The dutiable value of a registered motor vehicle is –

(a) the consideration in money or money's worth given for the acquisition of the vehicle; or

(b) the market value of the vehicle at the time of acquisition of the vehicle or lodgment of a notice of change of beneficial ownership of the vehicle –

whichever is the greater.

(1A)  [Section 198 Subsection (1A) inserted by No. 121 of 2001, s. 18, Applied:01 Mar 2002] The dutiable value of a new motor vehicle is the consideration in money or money's worth given for the acquisition of the motor vehicle, if the Commissioner is satisfied that the consideration is adequate in relation to the value of that motor vehicle.

(2)  The dutiable value of a motor vehicle in any other case is –

(a) the consideration in money or money's worth given for the acquisition of the vehicle; or

(b) the market value of the vehicle at the time of application to register the vehicle –

whichever is the greater.

(3)  The dutiable value of a motor vehicle does not include –

(a) a premium paid for extended warranty insurance; or

(b) the value of any equipment transferred from another vehicle registered or previously registered in the name of the applicant which it replaces; or

(c) the value of any independently operated equipment that is unrelated to the use of the vehicle for transportation.

PART 2 - Circumstances in which duty not chargeable

199.   Exemptions

[Section 199 Amended by No. 121 of 2001, s. 19, Applied:17 Dec 2001] [Section 199 Substituted by No. 60 of 2002, s. 16, Applied:01 Jul 2002]

(1)  Duty under this Chapter is not chargeable in respect of the following:

(a) [Section 199 Subsection (1) amended by No. 19 of 2010, s. 50, Applied:01 Jan 2011] an application to register a motor vehicle or a notice of a change of beneficial ownership of a motor vehicle made by the personal representative of a deceased person to register a motor vehicle in the name of a person to whom it is bequeathed in the last will of the deceased person or who is beneficially entitled to it under the Intestacy Act 2010 ;

(b) an application to register a motor vehicle or a notice of a change of beneficial ownership of a motor vehicle if –

(i) the person is in the business of financing the purchase or use of motor vehicles; and

(ii) the vehicle was repossessed by, or voluntarily surrendered to, the person; and

(iii) the person, in the course of that business, does not dispose of any such vehicles except by public tender or public auction or through a motor dealer;

(c) an application to register a motor vehicle or a notice of a change of beneficial ownership of a motor vehicle registered in the names of the parties to a marriage or in the name of either of them to the extent that the vehicle was, at the time the application was made or notice lodged, matrimonial property, if it is proved to the satisfaction of the Commissioner that –

(i) the marriage is dissolved or annulled (whether before or after the certificate of registration is issued) or the marriage has irretrievably broken down; and

(ii) the application or notice was made for the purposes of or in accordance with an instrument registered or approved under the Family Law Act 1975 of the Commonwealth, a financial agreement made under section 90B, 90C or 90D of that Act or an order of a court under that Act;

(ca) [Section 199 Subsection (1) amended by No. 6 of 2010, s. 11, Applied:08 Oct 2008] an application to register a motor vehicle, or a notice of a change of beneficial ownership of a motor vehicle registered in the names of the parties to a de facto relationship or in the name of either of them, to the extent that the vehicle was, at the time the application was made or notice lodged, de facto relationship property, if it is proved to the satisfaction of the Commissioner that –

(i) the de facto relationship has been terminated (whether before or after the certificate of registration is issued); and

(ii) the application or notice was made for the purposes of or in accordance with an instrument registered or approved under the Family Law Act 1975 of the Commonwealth, a financial agreement made under section 90UB, 90UC or 90UD of that Act or an order of a court under that Act;

(d) [Section 199 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] an application to register a motor vehicle or a notice of a change of beneficial ownership of a motor vehicle registered in the names of the partners to a personal relationship which has terminated or in the name of either of them, to the extent that the vehicle was, at the time the application was made or notice lodged, relationship property, and it is made for the purpose of or in connection with an order under the Relationships Act 2003 ;

(da) [Section 199 Subsection (1) amended by No. 8 of 2008, s. 14, Applied:02 May 2008] a notice of change of beneficial ownership of a motor vehicle if the person who has acquired the beneficial ownership is, or was immediately before the acquisition, the registered operator of the vehicle under a lease agreement;

(e) an application to register a motor vehicle or a notice of change of beneficial ownership of a motor vehicle that relates to a motor vehicle that is exempt from motor tax under the Vehicle and Traffic Act 1999 or the Transport Act 1981 ;

(ea) [Section 199 Subsection (1) amended by No. 36 of 2004, s. 14, Applied:01 Dec 2004] the acquisition of a registered motor vehicle by a person who is in the bona fide business of motor vehicle wrecking, where the Commissioner is satisfied that –

(i) the acquisition is for the sole purpose of wrecking the motor vehicle in the course of that business; and

(ii) the motor vehicle will never be re-registered;

(f) an application for transfer of registration of a motor vehicle made by a shareholder to register the motor vehicle in the name of the shareholder if –

(i) [Section 199 Subsection (1) amended by No. 46 of 2008, s. 12, Applied:18 Nov 2008] the transfer is in the course of a distribution of assets of a company because of the winding-up or deregistration of the company; and

(ii) [Section 199 Subsection (1) amended by No. 22 of 2013, s. 4, Applied:01 Jul 2013] the distribution is in accordance with the shareholder's entitlement in the undistributed assets of the company immediately before the application to transfer;

(g) [Section 199 Subsection (1) amended by No. 22 of 2013, s. 4, Applied:01 Jul 2013] an application to register a trailer, or a notice of change of beneficial ownership of a trailer, if the trailer is constructed principally for use as a dwelling.

(1A)  [Section 199 Subsection (1A) inserted by No. 8 of 2008, s. 14, Applied:02 May 2008] In subsection (1)(da)  –

lease agreement means an agreement by which a right to use a motor vehicle at any time and for any purpose is conferred on or acquired by a person.

(2)  Subsection (1)(f) does not apply to a distribution to a shareholder who was not a shareholder for at least 12 months immediately prior to the notice of appointment of liquidator being lodged under section 537 of the Corporations Act.

200.   Avoidance of double duty – duty paid in a corresponding Australian jurisdiction

Duty is not chargeable in respect of an application to register a motor vehicle in Tasmania if –

(a) at the time the application was made, the motor vehicle is or was registered by the person making the application under the law of an Australian jurisdiction that corresponds to the Vehicle and Traffic Act 1999 ; and

(b) duty was paid in that jurisdiction in respect of the registration.

201.   No change in beneficial ownership

No duty is chargeable in respect of an application to register a motor vehicle where –

(a) the Commissioner is satisfied there is no change in beneficial ownership and that duty has been previously paid on an application to register the motor vehicle by or on behalf of the beneficial owner of the vehicle in this or a corresponding Australian jurisdiction; or

(b) in prescribed circumstances.

202.   Reassessment of duty – repossession of stolen motor vehicle

(1)  Duty is not chargeable on an application for registration of a motor vehicle that has been repossessed from a person because, before the person acquired it, it had been stolen.

(2)  If requested by a person who has paid duty on an application for registration to which subsection (1) applies, the Commissioner must assess or reassess the duty accordingly.

203.   Refund if contract, arrangement or agreement cancelled

[Section 203 Amended by No. 121 of 2001, s. 20, Applied:17 Dec 2001] The Commissioner, on application by a person who paid duty in respect of the registration of a motor vehicle, the transfer of registration of a motor vehicle or a notice of a change of beneficial ownership may refund to the person the duty paid if the person cancelled any contract, arrangement or agreement under which that motor vehicle was acquired within 3 months of the acquisition.

PART 3 - Trading stock and demonstrator vehicles of motor dealers

204.   Exemptions for motor dealers

[Section 204 Amended by No. 40 of 2006, s. 10, Applied:18 Dec 2006] [Section 204 Substituted by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] Duty under this Chapter is not payable by –

(a) a licensed motor vehicle trader in respect of the registration or transfer of a motor vehicle acquired and used for a purpose specified in section 214(1) ; or

(b) a motor dealer who holds an exemption certificate in respect of the registration or transfer of a type of motor vehicle specified in that certificate acquired and used solely for a purpose specified in section 214(1) .

205.   Application for exemption certificate

(1)  A motor dealer may apply to the Commissioner for a certificate certifying that the dealer is exempt from paying duty under this Act in respect of specified types of motor vehicles.

(2)  An application is to be –

(a) in an approved form; and

(b) accompanied by the prescribed fee.

(3)  The Commissioner may require an applicant to provide any further information the Commissioner considers necessary to decide the application.

206.   Grant or refusal of application

(1)  The Commissioner may –

(a) grant the application for an exemption certificate in full or in part and subject to any conditions the Commissioner considers appropriate; or

(b) refuse to grant the application.

(2)  The Commissioner may grant an application for an exemption certificate only if satisfied that the applicant –

(a) is a motor dealer; and

(ab) [Section 206 Subsection (2) amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] is not a licensed motor vehicle trader and is not dealing in motor vehicles within the meaning of the Motor Vehicle Traders Act 2011 ; and

(b) has complied with any applicable provision of the Second-hand Dealers and Pawnbrokers Act 1994 ; and

(c) is not prohibited from carrying on business as a second-hand dealer under that Act; and

(d) has obtained any relevant approvals from the relevant council; and

(e) operates or intends to operate as a motor dealer on a continuing basis; and

(f) is not acting on behalf of another person who is not eligible to hold the certificate.

(3)  If the Commissioner refuses to grant the application, the Commissioner, by notice in writing, is to advise the applicant of –

(a) the refusal to grant the application; and

(b) the reasons for that refusal; and

(c) the right of the applicant to object to the Commissioner's decision under the Taxation Administration Act 1997 .

207.   Form of exemption certificate

An exemption certificate is to –

(a) be in an approved form; and

(b) be issued in the name of the person carrying on the business; and

(c) specify the type of motor vehicle to which it relates; and

(d) specify the conditions to which it is subject; and

(e) specify the purpose for which it was acquired; and

(f) [Section 207 Amended by No. 40 of 2006, s. 11, Applied:18 Dec 2006] specify the expiry date of the certificate; and

(g) [Section 207 Amended by No. 40 of 2006, s. 11, Applied:18 Dec 2006] include a unique identifying number.

208.   Period of exemption certificate

An exemption certificate is in force for a period, not exceeding 12 months, as specified in the certificate.

209.   Notification of changes

(1)  The holder of an exemption certificate must notify the Commissioner –

(a) of any change of address; and

(b) if the holder ceases to carry on the business of dealing in motor vehicles; and

(c) if the holder is prohibited from carrying on that business under any other Act.

Penalty:  Fine not exceeding 100 penalty units.

(2)  The holder of the exemption certificate must forward the certificate to the Commissioner for endorsement as soon as practicable after an event referred to in subsection (1) occurs.

Penalty:  Fine not exceeding 100 penalty units.

210.   Renewal of exemption certificate

(1)  The holder of an exemption certificate may apply to the Commissioner for renewal of the certificate.

(2)  An application for renewal is to be –

(a) in an approved form; and

(b) accompanied by the prescribed fee; and

(c) lodged no later than 2 months before the expiry of the certificate.

(3)  If a holder fails to make an application within the period specified in subsection (2)(c) or within any other period the Commissioner may allow –

(a) the exemption certificate is taken to be cancelled as at its expiry date; and

(b) the Commissioner, by written notice, is to advise the Registrar of Motor Vehicles of the cancellation; and

(c) the holder must forward the exemption certificate to the Commissioner within 14 days after that expiry date.

211.   Grant or refusal of renewal of application

(1)  The Commissioner may –

(a) grant an application for the renewal of an exemption certificate subject to any conditions the Commissioner considers appropriate; or

(b) refuse to grant the application for renewal if not so satisfied.

(2)  The Commissioner may grant the application for renewal only if satisfied as to the matters specified in section 206(2) .

(3)  If the Commissioner refuses to grant the application for renewal, the Commissioner, by notice in writing, is to –

(a) advise the holder of the exemption certificate of –

(i) the refusal to grant the application for renewal; and

(ii) the reasons for that refusal; and

(iii) the right of the holder to object to the Commissioner's decision under the Taxation Administration Act 1997 ; and

(b) advise the Registrar of Motor Vehicles of the refusal to grant that application.

212.   Suspension and cancellation of exemption certificate

(1)  The Commissioner may cancel an exemption certificate if satisfied that the holder –

(a) has ceased to be a motor dealer; or

(b) is prohibited from carrying on the business of a motor dealer under any other Act; or

(c) has not complied with any condition of the exemption certificate or any provision of this Chapter, the consequences of which, in the opinion of the Commissioner, justify the cancellation; or

(d) [Section 212 Subsection (1) amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] has used or attempted to use the certificate to obtain an exemption that is not available; or

(e) [Section 212 Subsection (1) amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] is a licensed motor vehicle trader or is dealing in motor vehicles within the meaning of the Motor Vehicle Traders Act 2011 .

(2)  The Commissioner may suspend an exemption certificate for a specified period if satisfied that the holder has not complied with any condition of the exemption certificate or any provision of this Act.

(3)  The Commissioner, by written notice, is to advise the holder of an exemption certificate and the Registrar of Motor Vehicles of any suspension or cancellation.

(4)  On receipt of the notice, the holder must forward the exemption certificate to the Commissioner within 14 days after the receipt.

Penalty:  Fine not exceeding 100 penalty units.

(5)  Duty is payable in relation to any vehicle acquired through the use of an exemption certificate which has been cancelled under this section or taken to be cancelled under section 210(3)(a) if the former holder of that certificate of exemption has not disposed of the vehicle within 3 months of the date of cancellation or any longer period the Commissioner may allow.

213.   Continuing use of exemption certificate

The holder of an exemption certificate who makes an application for renewal under section 210 before the certificate expires continues to be exempted from paying duty in respect of the types of vehicles specified in the certificate until whichever of the following occurs first:

(a) the end of a period of 3 months, or any further period the Commissioner determines, after that expiry;

(b) if the application is refused before that expiry, the date of the refusal.

214.   Applicable exemptions

[Section 214 Subsection (1) amended by No. 3 of 2006, s. 11, Applied:26 Jun 2006] [Section 214 Substituted by No. 40 of 2006, s. 12, Applied:18 Dec 2006]

(1)  [Section 214 Subsection (1) amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] An exemption certificate may only be used to obtain exemption from payment of duty in respect of the registration or transfer of a specified motor vehicle, and a motor vehicle trader licence in force under the Motor Vehicle Traders Act 2011 may only be used to obtain exemption from payment of duty in respect of the registration or transfer of a motor vehicle, if –

(a) in the case of a new motor vehicle, it is acquired and used solely for the purpose of demonstration to prospective purchasers; or

(b) in the case of a used motor vehicle, it is acquired and used solely for resale in the ordinary course of business and for no other intermediate purpose; or

(c) [Section 214 Subsection (1) amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] in the case of an exemption certificate holder, or a licensed motor vehicle trader, who is a wholesaler, the motor vehicle is acquired and used solely for sale to other holders of exemption certificates, other licensed motor vehicle traders or motor dealers in other States –

and if the holder of the exemption certificate or the licensed motor vehicle trader records the unique identifying number of the exemption certificate or motor vehicle trader licence on the application to register the motor vehicle.

(2)  [Section 214 Subsection (2) amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] If a motor dealer acquires a motor vehicle for a purpose mentioned in subsection (1) and then loans the motor vehicle to a charity that uses it for charitable purposes, that loan does not disqualify the motor dealer from using the motor vehicle trader licence or exemption certificate as specified in that subsection so as to receive under section 204 an exemption from payment of duty under this Chapter.

(3)  In subsection (2)  –

charitable purpose means any purpose that in the opinion of the Commissioner is charitable;

charity means an institution that is a religious, scientific, charitable or public educational institution exempted by section 23 of the Income Tax Assessment Act 1936 of the Commonwealth from the payment of income tax under that Act.

215.   Improperly obtaining exemption

(1)  [Section 215 Subsection (1) amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] A person must not use an exemption certificate or a motor vehicle trader licence to obtain an exemption for a purpose that is not specified in section 214 .

Penalty:  Fine not exceeding 100 penalty units.

(2)  [Section 215 Subsection (2) amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] The holder of an exemption certificate, or a licensed motor vehicle trader, who uses the exemption certificate or the motor vehicle trader licence to obtain an exemption for a purpose that is not specified in section 214 commits a tax default under the Taxation Administration Act 1997 .

216.   Change of purpose

(1)  [Section 216 Subsection (1) amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] [Section 216 Subsection (1) amended by No. 40 of 2006, s. 13, Applied:18 Dec 2006] The holder of an exemption certificate or a licensed motor vehicle trader must notify the Commissioner of any change in the purpose specified in section 214(1) for which a motor vehicle was acquired and used within 14 days after the change occurred.

Penalty:  Fine not exceeding 100 penalty units.

(2)  A notification is to be –

(a) in a form approved by the Commissioner; and

(b) lodged with the Commissioner.

(3)  Where duty is payable in respect of the motor vehicle, it is payable at the applicable rate referred to in section 197 .

(4)  A tax default under the Taxation Administration Act 1997 occurs if the applicable duty is not paid within 14 days after the change in purpose occurred.

217.   Duty payable in certain circumstances

(1)  [Section 217 Subsection (1) amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] If a motor vehicle for which an exemption has been claimed under section 204 by the holder of an exemption certificate or a licensed motor vehicle trader has not been sold within 12 months after its date of acquisition, the holder of the exemption certificate or licensed motor vehicle trader is liable to pay duty in respect of the motor vehicle.

(2)  [Section 217 Subsection (2) amended by No. 23 of 2011, Sched. 1, Applied:01 Apr 2012] Subsection (1) does not apply if the holder of the exemption certificate or the licensed motor vehicle trader satisfies the Commissioner that –

(a) [Section 217 Subsection (2) amended by No. 40 of 2006, s. 14, Applied:18 Dec 2006] the motor vehicle was not used for any purpose other than a purpose referred to in section 214(1) during the period referred to in that subsection; and

(b) a real attempt was made during that period to sell the motor vehicle.

(3)  Any duty payable under this section is at the applicable rate referred to in section 197 as from a date determined by the Commissioner.

218.   Record of exemption certificates

The Commissioner is to –

(a) keep records of all certificates of exemption granted or renewed under this Part; and

(b) make a summary of those records available for public inspection during normal business hours.

Chapter 9 - Miscellaneous duties

PART 1 - Duplicates and replicas

219.   Duplicates or counterparts

[Section 219 Subsection (3) amended by No. 60 of 2002, s. 17, Applied:01 Jul 2002] [Section 219 Substituted by No. 36 of 2004, s. 21, Applied:01 Jul 2004]

(1)  Subject to subsection (2) , no duty is chargeable on a duplicate or counterpart of an instrument that effects a dutiable transaction.

(2)  A duplicate or counterpart of an instrument that effects a dutiable transaction is not to be stamped as a duplicate or counterpart unless the proper duty has been paid on that instrument.

(3)  [Section 219 Subsection (3) inserted by No. 46 of 2008, s. 13, Applied:18 Nov 2008] If the proper duty has not been paid on the instrument referred to in subsection (1) , the person liable to pay the duty is the person liable to pay the duty on that instrument.

220.   Replicas

(1)  [Section 220 Subsection (1) amended by No. 41 of 2013, s. 27, Applied:21 Oct 2013] [Section 220 Subsection (1) substituted by No. 46 of 2008, s. 14, Applied:18 Nov 2008] Duty of $50 is chargeable on a replica.

(2)  The persons liable to pay the duty are the parties to the replica or any one or more of them.

(3)  A replica that is duly stamped is to be marked in such manner as the Commissioner thinks fit to denote that it is a replica.

(4)  In this section,

replica means an instrument that –

(a) is executed to replace; and

(b) contains the same terms as, but no other terms than, those contained in –

a previously executed instrument that has been lost, spoiled or destroyed and that, in the Commissioner's opinion, has been duly stamped.

PART 2 - Miscellaneous duties

221.   Motor accident premium certificates

(1)  A certificate or other document issued for the purpose of the Motor Accidents (Liabilities and Compensation) Act 1973 that acknowledges the receipt of a premium paid under that Act is a certificate of premium paid notwithstanding that it is also issued for other purposes.

(2)  Duty is chargeable on a certificate of premium paid.

(3)  [Section 221 Subsection (3) amended by No. 23 of 2012, s. 6, Applied:01 Oct 2012] The amount of duty payable is $20 and the person liable to pay the duty is the applicant.

(4)  The amount of duty payable must be denoted on the certificate of premium paid.

(5)  A certificate of premium paid is not duly stamped until the duty has been paid.

(6)  The Motor Accidents Insurance Board or its agent is to –

(a) furnish to the Commissioner any returns required with regard to the certificates of premium paid issued; and

(b) pay duty received in respect of certificates of premium paid to the Commissioner in any manner and at any time notified by the Commissioner.

222.   

[Section 222 Subsection (1) amended by No. 121 of 2001, s. 21, Applied:17 Dec 2001] [Section 222 Repealed by No. 24 of 2002, s. 25, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

223.   

[Section 223 Subsection (2) amended by No. 121 of 2001, s. 22, Applied:17 Dec 2001] [Section 223 Repealed by No. 24 of 2002, s. 25, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

224.   

[Section 224 Repealed by No. 24 of 2002, s. 25, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

Chapter 10 - General exemptions from duty

PART 1 - Intergenerational rural transfers

225.   Intergenerational rural transfers

(1)  [Section 225 Subsection (1) amended by No. 41 of 2013, s. 28, Applied:21 Oct 2013] Duty under this Act is not chargeable on a transfer of an interest in real property, whether for consideration or not, and which includes personal property used solely or principally in connection with the business of primary production, to the extent that the Commissioner is satisfied that the transfer of the interest –

(a) [Section 225 Subsection (1) amended by No. 8 of 2008, s. 15, Applied:02 May 2008] relates to land that –

(i) is currently used, and which will continue to be used, in the business of primary production; and

(ii) is primary production land within the meaning of section 7 of the Land Tax Act 2000 ; and

(b) does not arise from any arrangement or scheme devised to evade the payment of duty by taking the benefit of this exemption; and

(c) is from –

(i) a natural person to a relative of the person or to a trustee of a trust in which all the beneficiaries are individually named and are relatives of the person at the time of the transfer and may not be varied other than by the addition of a relative individually named in any deed of variation; or

(ii) a company to a trustee of a trust in which all the beneficiaries are individually named and are relatives of all the shareholders of the company at the time of the transfer and may not be varied other than by the addition of a relative individually named in a deed of variation; or

(iia) [Section 225 Subsection (1) amended by No. 41 of 2013, s. 28, Applied:21 Oct 2013] a natural person to a company (other than as trustee) of which all the shareholders are relatives of the person at the time of the transfer; or

(iii) a company to a natural person and all the shareholders of the company are relatives of the person; or

(iiia) [Section 225 Subsection (1) amended by No. 47 of 2011, s. 9, Applied:07 Dec 2011] a company (other than as a trustee) to another company (other than as trustee) of which all the shareholders are relatives of all the shareholders of the first-mentioned company; or

(iv) a trustee of a trust to a person who is a relative of all those named beneficiaries of the trust who are natural persons; or

(v) [Section 225 Subsection (1) amended by No. 47 of 2011, s. 9, Applied:07 Dec 2011] [Section 225 Subsection (1) amended by No. 41 of 2013, s. 28, Applied:21 Oct 2013] a trustee of a trust to a trustee of another trust of which all the beneficiaries are individually named and relatives at the time of the transfer of all those named beneficiaries of the first-mentioned trust who are natural persons and of which the beneficiaries may not be varied other than by the addition of a relative individually named in a deed of variation; or

(vi) [Section 225 Subsection (1) amended by No. 41 of 2013, s. 28, Applied:21 Oct 2013] a trustee of a trust to a company (other than as trustee) of which all the shareholders are relatives, at the time of the transfer, of all those named beneficiaries of the trust who are natural persons.

(2)  [Section 225 Subsection (2) substituted by No. 47 of 2011, s. 9, Applied:07 Dec 2011] Duty is not chargeable under Chapter 3 on a relevant acquisition, within the meaning of section 67 , of an interest in a farming company to the extent of the unencumbered value of the company's farming property, if the interest is transferred from a person specified in a subparagraph of subsection (1)(c) to a person specified in the same subparagraph.

(3)  A relative of a person is –

(a) a lineal descendant of the person; or

(b) an adopted child, a natural child or a step-child of the person; or

(ba) [Section 225 Subsection (3) amended by No. 31 of 2012, s. 10, Applied:01 May 2013] a surrogate child of the person; or

(c) a lineal ancestor of the person; or

(d) a brother, sister, nephew, niece, aunt or uncle of the person; or

(e) [Section 225 Subsection (3) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 225 Subsection (3) amended by No. 41 of 2013, s. 28, Applied:21 Oct 2013] [Section 225 Subsection (3) amended by No. 21 of 2014, s. 11, Applied:21 Oct 2013] the spouse or caring partner of the person or of a person referred to in paragraph (a) , (b) , (ba) , (c) or (d) ; or

(f) [Section 225 Subsection (3) amended by No. 41 of 2013, s. 28, Applied:21 Oct 2013] an adopted child, natural child, step-child or surrogate child of a person referred to in paragraph (a) , (b) , (ba) , (c) , (d) or (e) or the spouse or caring partner of that child.

(4)  [Section 225 Subsection (4) inserted by No. 47 of 2011, s. 9, Applied:07 Dec 2011] [Section 225 Subsection (4) substituted by No. 41 of 2013, s. 28, Applied:21 Oct 2013] For the purposes of this section –

(a) a reference to a relative of a person is to be taken to include a reference to the person himself or herself; and

(b) a transfer from a deceased estate may be taken to be a transfer from the deceased person; and

(c) the death of a person does not alter the relationship between that person and any other person.

226.   Subsequent liability for duty in certain circumstances

(1)  [Section 226 Subsection (1) amended by No. 41 of 2013, s. 29, Applied:21 Oct 2013] If the Commissioner, after being satisfied as required under section 225 , becomes aware that a transfer of an interest in real property in respect of which duty was not chargeable under that section was not a transfer of an interest referred to in that section, the Commissioner may assess that transfer for the duty that would otherwise be payable.

(2)  Duty is chargeable on a transfer referred to in section 225 if any of the following occurs:

(a) a person who is not a relative of the transferor –

(i) becomes entitled to a share or interest in the trust, whether that share or interest is vested or contingent; or

(ii) otherwise benefits from the trust;

(b) the transferor gains control of the trust.

(3)  The transferee must lodge with the Commissioner a statement in an approved form within one month after any event referred to in subsection (2) occurs and pay the duty that would be assessed in respect of that transaction.

Penalty:  Fine not exceeding 100 penalty units.

(4)  Section 19(3) of the Taxation Administration Act 1997 does not apply to this section.

PART 2 - Miscellaneous exemptions

227.   Miscellaneous exemptions

(1)  Duty is not chargeable in respect of the following:

(a) [Section 227 Subsection (1) amended by No. 17 of 2006, Sched. 3, Applied:01 Oct 2011] any instrument made by the Department responsible for the administration of the Health Service Establishments Act 2006 in respect of the grant, purchase, transfer, mortgage or lease of any land if duty on that instrument would otherwise be payable by that Department;

(b) [Section 227 Subsection (1) amended by No. 8 of 2008, s. 16, Applied:02 May 2008] any instrument made in respect of the mortgage or lease of any land by, to, or with the licensee, proprietor, governors, trustees, committee of management, or resident manager of a medical establishment not for or in connection with the acquisition of a medical establishment if duty on that instrument would otherwise be payable by that medical establishment;

(c) any instrument made by, to, or with the University of Tasmania in respect of the grant, purchase, conveyance, transfer, mortgage, or lease of any land if duty on that instrument would otherwise be payable by the University of Tasmania;

(d) any instrument on which duty would otherwise be payable by a person constituted, established or appointed under an Act or under the Royal prerogative to administer or control any department, business, undertaking or public institution on behalf of the State who is exempted by proclamation from the payment of all duties under this Act;

(e) any instrument in respect of loans made for the purpose of the Farm Water Development Act 1985 ;

(f) any instrument in respect of loans made for the purpose of the King and Flinders Islands (Power) Financial Assistance Act 1984 ;

(g) any instrument in respect of financial assistance made for the purpose of the Rural Adjustment Act 1995 ;

(h) [Section 227 Subsection (1) amended by No. 3 of 2006, s. 12, Applied:26 Jun 2006] .  .  .  .  .  .  .  .  

(i) any agreement made under section 17(2) of the Forest Practices Act 1985 ;

(ia) [Section 227 Subsection (1) amended by No. 60 of 2002, s. 18, Applied:01 Jul 2002] any agreement entered into under Part 5 of the Land Use Planning and Approvals Act 1993 ;

(j) any instrument effecting a purchase of a replacement property or any mortgage in respect of that property to replace affected property purchased by the Crown under section 10(1) of the Rosetta Landslip Act 1992 provided that the agreement to purchase the replacement property is entered into within a period of 12 months immediately after the purchase of that affected property by the Crown;

(ja) [Section 227 Subsection (1) amended by No. 121 of 2001, s. 23, Applied:17 Dec 2001] a duplicate instrument required under the Land Titles Act 1980 , if the original instrument or a copy of the original instrument has been duly stamped;

(k) any permit, licence, pipeline licence or access authority within the meaning of the Petroleum (Submerged Lands) Act 1982 , any instrument effecting the transfer of such a licence or authority or any instrument relating to any legal or equitable interest in such a licence or authority;

(l) any instrument for effecting a surrender of any land to the Crown.

(2)  A person who is liable to pay duty in respect of any instrument or transaction is exempted from the payment of the duty if –

(a) the instrument or transaction relates to any action, matter or proceeding in respect of which legal aid is provided under section 51 of the Legal Aid Commission Act 1990 ; and

(b) the person was eligible to receive legal assistance under such a scheme.

227A.   

[Section 227A Inserted by No. 121 of 2001, s. 24, Applied:01 Jul 2001] [Section 227A Repealed by No. 22 of 2005, s. 13, Applied:01 Jul 2007] .  .  .  .  .  .  .  .  

227B.   Instruments issued for purpose of creating, issuing or marketing mortgage-backed securities

[Section 227B Inserted by No. 121 of 2001, s. 24, Applied:01 Jul 2001] Duty under this Act is not chargeable on an instrument that, in the opinion of the Commissioner, was executed for the purpose of creating, issuing or marketing mortgage-backed securities.

227C.   Loan-backed securities

[Section 227C Inserted by No. 121 of 2001, s. 24, Applied:01 Jul 2001]

(1)  Duty is not chargeable in respect of an instrument that is, or effects, any of the following:

(a) the issue or making of a loan-backed security;

(b) the transfer or assignment of, or other dealing in, a loan-backed security;

(c) an instrument that, in the Commissioner's opinion, was executed for the purpose of creating, issuing or marketing loan-backed securities;

(d) a mortgage over the interest of a person in a pool of loans, being a mortgage relating to loan-backed securities issued by the person to secure the repayment of financial accommodation provided to the person;

(e) a policy of insurance covering any or all assets in a pool of loans acquired or held for the purpose of issuing loan-backed securities, but only so far as the instrument relates to loan-backed securities.

Chapter 11 - Miscellaneous

PART 1 - Stamping instruments

228.   Provision of stamps

The Commissioner may provide stamps or such other equipment as may be required for –

(a) stamping instruments; or

(b) otherwise denoting the payment of duty –

in accordance with the provisions of this Act.

229.   Limitation on use of designated stamps

(1)  A stamp that by its terms is limited to an instrument of a specified kind must not be used for an instrument of a different kind.

Penalty:  Fine not exceeding 100 penalty units.

(2)  An instrument of a specified kind for which a particular stamp is specified is taken not to be duly stamped unless it is stamped with the stamp so specified.

230.   Form of stamps to be used

(1)  An instrument that is required to be stamped by this Act is to be stamped by means of an impressed stamp.

(2)  Another form of stamping may be used if its use is authorised by this Act or the Commissioner.

231.   Stamping of instruments

[Section 231 Substituted by No. 36 of 2004, s. 15, Applied:01 Dec 2004]

(1)  [Section 231 Subsection (1) amended by No. 40 of 2006, s. 20, Applied:01 Jan 2007] Subject to subsection (3) , the Commissioner must stamp an instrument in respect of which duty is chargeable under this Act, or that effects or evidences a dutiable transaction, and that has been lodged for stamping with the Commissioner if the duty, and any interest or penalty tax under Part 5 of the Taxation Administration Act 1997 , is paid in full.

(2)  If this Act provides that no duty is chargeable on an instrument, the Commissioner may endorse it as he or she sees fit.

(3)  [Section 231 Subsection (3) inserted by No. 40 of 2006, s. 20, Applied:01 Jan 2007] If an instrument is lodged with the Commissioner for stamping and the person who lodged it is authorised to deal with that instrument in accordance with the conditions of an approval given under Part 6 of the Taxation Administration Act 1997 , the Commissioner may –

(a) assess the duty payable in respect of the instrument and stamp it if the duty, and any interest or penalty tax, under Part 5 of the Taxation Administration Act 1997 , payable in respect of the instrument has been paid in full; or

(b) return the instrument to the person who lodged it.

(4)  [Section 231 Subsection (4) inserted by No. 40 of 2006, s. 20, Applied:01 Jan 2007] If the Commissioner makes an assessment of duty and stamps an instrument under subsection (3)(a) , the Commissioner in his or her discretion may charge an administrative fee under section 118A of the Taxation Administration Act 1997 .

232.   When is an instrument duly stamped?

An instrument is duly stamped if it is stamped in accordance with this Act or section 53(1) of the Taxation Administration Act 1997 .

233.   Adhesive stamps

(1)  An adhesive stamp may be used to stamp the following instruments:

(a) a superannuation instrument to which section 44 applies;

(b) [Section 233 Subsection (1) amended by No. 36 of 2004, s. 16, Applied:01 Dec 2004] .  .  .  .  .  .  .  .  

(c) [Section 233 Subsection (1) amended by No. 36 of 2004, s. 16, Applied:01 Dec 2004] .  .  .  .  .  .  .  .  

(d) any other instrument for which, under a taxation law within the meaning of the Taxation Administration Act 1997 , tax may be denoted by use of an adhesive stamp.

(2)  An instrument that may be stamped by use of an adhesive stamp is not duly stamped unless –

(a) an adhesive stamp for the appropriate amount of duty is attached to the instrument; and

(b) the adhesive stamp is cancelled by marking the date of its cancellation on its face in such a way as to render it incapable of being used for any other instrument.

(3)  An adhesive stamp that has been attached to an instrument and cancelled must not be removed from the instrument except by the Commissioner after an application for a refund of the duty denoted by the stamp has been approved.

Penalty:  Fine not exceeding 100 penalty units.

234.   Licences to deal in stamps

(1)  The Commissioner may, on such terms and conditions as are determined by the Commissioner, grant a licence to a person to sell stamps.

(2)  The licence must include the name and address of the licensee.

(3)  The Commissioner may sell stamps to a licensee at such commission discount as may be determined by the Commissioner.

(4)  The Commissioner may cancel a licence granted under this section at any time by giving notice of the cancellation to the licensee.

(5)  A person who is not licensed under this section must not sell or deal in stamps.

Penalty:  Fine not exceeding 100 penalty units.

235.   Refunds – spoiled and unused stamps

(1)  A person may apply to the Commissioner for a refund of the value of adhesive stamps that have become spoiled or useless.

(2)  The spoiled or useless stamps must be produced to the Commissioner.

(3)  If an adhesive stamp is erroneously placed on a document, an application for a refund may be made as if the stamp were spoiled.

236.   Reassessments – failed instruments

(1)  An instrument that fails in its intended operation and becomes useless is not chargeable with duty under this Act.

(2)  The Commissioner must make a reassessment of duty in respect of such an instrument if an application for a reassessment is made within –

(a) 3 years after the initial assessment; or

(b) [Section 236 Subsection (2) amended by No. 60 of 2002, s. 19, Applied:01 Jul 2002] 12 months after the instrument has failed; or

(c) [Section 236 Subsection (2) amended by No. 60 of 2002, s. 19, Applied:01 Jul 2002] 3 years after the payment of duty pursuant to a special arrangement for the lodging of returns and payment of tax under Part 6 of the Taxation Administration Act 1997  –

whichever is the later.

(3)  The instrument in respect of which the application is made must be produced to the Commissioner unless the Commissioner dispenses with its production.

237.   Instruments to be separately charged with duty in certain cases

An instrument that contains or relates to several distinct matters for which different duties are chargeable under this Act is to be separately and distinctly charged with duty in respect of each such matter, as if each matter were expressed in a separate instrument.

238.   Execution of instruments

(1)  For the purposes of this Act, an instrument is taken to be first executed the first time that it is signed and sealed, or signed (as the case may be) by any party to it.

(2)  However, a contract made by acceptance of an offer contained in an instrument is taken to be first executed when the offer is accepted.

(3)  If an instrument is ineffective by reason of a failure of the necessary parties to execute it, a refund may be made of any money paid for stamping.

239.   Stamping of instruments after execution

(1)  Except where otherwise expressly provided by this or another Act, a person liable with respect to any instrument chargeable with duty or any dutiable transaction must cause the instrument, or an instrument that effects or evidences the transaction, to be duly stamped or, in accordance with the provisions of this Act, marked "interim stamp only" within 6 months after it was first executed.

Penalty:  Fine not exceeding 100 penalty units.

(2)  For the purposes of this section, a written statement that is required to be stamped is taken to be first executed when the transaction to which the statement relates occurs.

240.   Stamping taken to constitute an assessment

For the purposes of this Act, the stamping of an instrument (excluding a return) by the Commissioner is taken to be evidence of an assessment of the duty payable under this Act in respect of the instrument.

241.   Copies of instruments

(1)  A copy of an original instrument is chargeable with duty as if it had been executed in the same way as the original instrument and had been first executed at the same time as the original instrument unless the Commissioner is satisfied –

(a) that the original instrument has been duly stamped; or

(b) that a copy of the original instrument has been duly stamped in accordance with this section.

(2)  If a copy of an original instrument is duly stamped in accordance with the section, the original instrument is taken to be duly stamped.

(3)  In this section –

copy of an original instrument means an unexecuted instrument in which, in the Commissioner's opinion, the matter contained in the original instrument is wholly or substantially reproduced, whether or not the matter reproduced has the same appearance as the matter contained in the original instrument, but does not include a replica within the meaning of section 220 ;

original instrument means an instrument that is chargeable with duty otherwise than under this section.

242.   Calculation of time

(1)  This section applies to the calculation of a period of time for the purpose of determining when the payment of duty is due under this Act.

(2)  A month is taken to be a period commencing at the beginning of a day of one of the 12 named months (within the meaning of the Acts Interpretation Act 1931 ) and ending –

(a) at the end of the corresponding day of the next named month; or

(b) if there is no such corresponding day, at the end of the next named month.

(3)  A period of 2 or more months is taken to be a period commencing at the beginning of a day of one of the 12 named months (within the meaning of the Acts Interpretation Act 1931 ) and ending –

(a) at the end of the corresponding day of the last named month within the period; or

(b) if there is no such corresponding day, at the end of that named month.

(4)  Section 29 (except subsection (1) ) of the Acts Interpretation Act 1931 applies to the calculation of a period of time to which this section applies.

PART 2 - Enforcement

243.   Registration of instruments

[Section 243 Substituted by No. 60 of 2002, s. 20, Applied:01 Jul 2002] A person must not register, record, enrol or accept for any purpose an instrument that effects in whole or in part a dutiable transaction or an instrument chargeable with duty unless –

(a) notwithstanding a provision of any other Act, it is duly stamped; or

(b) it is endorsed by the Commissioner or in a manner approved by the Commissioner.

Penalty:  Fine not exceeding 100 penalty units.

244.   

[Section 244 Repealed by No. 24 of 2002, s. 26, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

245.   

[Section 245 Repealed by No. 24 of 2002, s. 26, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

246.   Receipt of instruments in evidence

(1)  An instrument that effects a dutiable transaction or is chargeable with duty under this Act is not available for use in law or equity for any purpose and may not be presented in evidence in a court or tribunal exercising civil jurisdiction unless –

(a) it is duly stamped; or

(b) it is endorsed by the Commissioner or in a manner approved by the Commissioner.

(2)  A court or tribunal may admit in evidence an instrument that effects a dutiable transaction, or is chargeable with duty in accordance with the provisions of this Act, and that does not comply with subsection (1)  –

(a) if the instrument is after its admission transmitted to the Commissioner in accordance with arrangements approved by the court or tribunal; or

(b) if (where the person who produces the instrument is not the person liable to pay the duty) the name and address of the person so liable is forwarded, together with the instrument, to the Commissioner in accordance with arrangements approved by the court or tribunal.

(3)  A court or tribunal may admit in evidence an unexecuted copy of an instrument that effects a dutiable transaction, or is chargeable with duty in accordance with the provisions of this Act, if the court or tribunal is satisfied that –

(a) the instrument of which it is a copy is duly stamped, or is endorsed in a manner approved by the Commissioner; or

(b) the copy is duly stamped under section 241 .

247.   Valuation of property

(1)  The Commissioner may require a person who is liable to duty determined with reference to the value of property to provide a declaration by a competent valuer as to the unencumbered value of the property or to provide such other evidence of that value as the Commissioner thinks fit.

(2)  The Commissioner may assess duty in accordance with the value so declared.

(3)  [Section 247 Subsection (3) amended by No. 46 of 2008, s. 15, Applied:18 Nov 2008] The Commissioner may have property valued if not satisfied with the value so declared or if a property value is not provided as requested and may assess duty on the basis of the valuation.

(4)  [Section 247 Subsection (4) amended by No. 8 of 2008, s. 17, Applied:02 May 2008] The Commissioner may recover the cost of obtaining a value under this section from the person liable to pay the duty.

248.   Assessment where consideration inadequate

(1)  [Section 248 Subsection (1) amended by No. 40 of 2006, s. 15, Applied:18 Dec 2006] If the Commissioner is of the opinion that the consideration shown in an agreement for the sale, transfer or exchange of any real property (or an interest in real property) is inadequate with respect to the value of that real property or interest, the Commissioner may assess the duty payable on the agreement or other instrument by treating the unencumbered value of the relevant real property determined in accordance with subsection (2) or (2A) as the dutiable value for the sale, transfer or exchange of that property.

(2)  [Section 248 Subsection (2) amended by No. 39 of 2006, s. 34, Applied:01 Jan 2007] [Section 248 Subsection (2) amended by No. 40 of 2006, s. 15, Applied:18 Dec 2006] [Section 248 Subsection (2) amended by No. 102 of 2001, Sched. 2, Applied:28 Jun 2002] If the relevant real property is not vacant land, the unencumbered value of the relevant real property is the value calculated by multiplying the capital value of the real property as determined under the Valuation of Land Act 2001 by an amount representing the latest estimated trend in capital values as advised by the Valuer-General before the date of the dutiable transaction relating to that real property.

(2A)  [Section 248 Subsection (2A) inserted by No. 40 of 2006, s. 15, Applied:18 Dec 2006] If the relevant real property is vacant land, the unencumbered value of the relevant real property is the value calculated by multiplying the capital value of the real property as determined under the Valuation of Land Act 2001 by the adjustment factor determined by the Valuer-General under section 50A of the Valuation of Land Act 2001 and applicable as at the date of the dutiable transaction.

(3)  [Section 248 Subsection (3) amended by No. 40 of 2006, s. 15, Applied:18 Dec 2006] The Commissioner may assess the duty payable on the unencumbered value of the relevant real property determined by the Valuer-General as at the date of the dutiable transaction or relevant acquisition, for the purposes of Division 3 of Part 2 of Chapter 3 , if –

(a) [Section 248 Subsection (3) amended by No. 40 of 2006, s. 15, Applied:18 Dec 2006] the Commissioner is unable to determine the value of real property as provided by subsection (2) or (2A) ; or

(b) a party to the agreement, transfer, assignment or similar instrument so requests.

(4)  If the Valuer-General determines the unencumbered value of relevant real property for the purpose of subsection (3) and charges the Commissioner a fee for that determination, the Commissioner may recover that fee from the person who is liable to pay duty in respect of any instrument referred to in this section.

(5)  [Section 248 Subsection (5) inserted by No. 40 of 2006, s. 15, Applied:18 Dec 2006] A person who is liable to pay duty in respect of any instrument referred to in this section may object to the unencumbered value of the relevant real property as determined under subsection (2) or (2A) in accordance with Part 10 of the Taxation Administration Act 1997 by providing the Commissioner with a declaration by a competent valuer as to the unencumbered value of the real property.

(6)  [Section 248 Subsection (6) inserted by No. 40 of 2006, s. 15, Applied:18 Dec 2006] For the purposes of this section, on receipt of an objection the Commissioner may determine the objection by –

(a) charging duty in accordance with the value of the real property as declared in the declaration of a valuer provided under subsection (5) ; or

(b) if not satisfied with the value of the real property so declared, having the property valued and charging duty on the basis of that valuation.

(7)  [Section 248 Subsection (7) inserted by No. 40 of 2006, s. 15, Applied:18 Dec 2006] The Commissioner may recover the cost of a valuation obtained under subsection (6)(b) from the transferee.

249.   Ascertainment of value of certain interests

If it is necessary for the purpose of assessing duty under this Act to ascertain the value of –

(a) any estate or annuity or interest for the life of any person; or

(b) any estate or annuity or interest determinable on or subject to any contingency or the happening of any event; or

(c) any estate or annuity or interest in remainder expectant on the death of any person or expectant on or subject to any contingency or the happening of any event –

regard may be had in ascertaining the value of any such property to the death of the person having the life estate or annuity or interest or the happening of the contingency or event at any time before the assessment of duty is actually made.

250.   Impounding of instruments

(1)  The Commissioner may impound any instrument that ought to be but is not stamped or is insufficiently stamped.

(2)  The Commissioner may retain any impounded instrument until the duty or any interest or penalty tax, or all such amounts, have been paid.

PART 3 - Miscellaneous

251.   Application of Act

(1)  [Section 251 Subsection (1) amended by No. 60 of 2002, s. 21, Applied:01 Jul 2002] This Act does not require a servant or agent of the Crown, acting as such, to pay any duty imposed under this Act.

(2)  For the purpose of subsection (1) , a Government Business Enterprise, within the meaning of the Government Business Enterprises Act 1995  –

(a) is not the Crown; and

(b) is not taken to be acting on behalf of the Crown only because it is a Government Business Enterprise.

252.   

[Section 252 Subsection (1) amended by No. 121 of 2001, s. 25, Applied:17 Dec 2001] [Section 252 Repealed by No. 8 of 2008, s. 18, Applied:02 May 2008] .  .  .  .  .  .  .  .  

253.   

[Section 253 Repealed by No. 8 of 2008, s. 18, Applied:02 May 2008] .  .  .  .  .  .  .  .  

254.   Recognised stock exchanges

The Minister, by order published in the Gazette, may declare a stock exchange to be a recognised stock exchange for the purpose of this Act.

255.   Duty paid under former Act

If an assessment or reassessment of duty under this Act is required to take into consideration another amount of duty paid, a reference in this Act to duty includes a reference to duty within the meaning of the former Act that has been paid in accordance with that Act.

256.   Stamping under former Act

An instrument is duly stamped for the purposes of this Act if, immediately before the commencement day, it was duly stamped for the purposes of the former Act.

257.   Regulations

(1)  The Governor may make regulations for the purpose of this Act.

(2)  Regulations may be made so as to apply differently according to any matter, condition, limitation, restriction, exception or circumstance specified in the regulations.

(3)  The Governor may make regulations of a savings or transitional nature consequent on the enactment of this Act;

(4)  Regulations under subsection (3) may take effect from the commencement of this Act or a later day.

258.   Administration of Act

Until provision is made in relation to this Act by order under section 4 of the Administrative Arrangements Act 1990  –

(a) the administration of this Act is assigned to the Treasurer; and

(b) the department responsible to the Treasurer in relation to the administration of this Act is the Department of Treasury and Finance.

259.   Savings and transitional provisions

The provisions in Schedule 1 have effect.

259A.   Savings and transitional provisions consequent on Taxation and Related Legislation (Miscellaneous Amendments) Act 2008

[Section 259A Inserted by No. 8 of 2008, s. 19, Applied:02 May 2008]

(1)  In this section –

commencement day means the day on which the Taxation and Related Legislation (Miscellaneous Amendments) Act 2008 , other than Part 5 , commences;

loan agreement means an agreement made in accordance with section 253 in respect of a loan under section 252 that is in force immediately before the commencement day;

section 252 means section 252 of this Act as in force immediately before the commencement day;

section 253 means section 253 of this Act as in force immediately before the commencement day.

(2)  On and after the commencement day –

(a) a loan agreement continues in force until it is completed or otherwise ends or is terminated according to its terms; and

(b) sections 252 and 253 continue to apply in respect of that loan agreement as if they had not been repealed by the Taxation and Related Legislation (Miscellaneous Amendments) Act 2008 .

259B.   Transitional provisions consequent on Duties Amendment Act 2009

[Section 7 Subsection (2) amended by No. 35 of 2009, s. 5, Applied:01 Jul 2009] [Section 259B Inserted by No. 35 of 2009, s. 17, Applied:01 Jul 2009] Any obligation to pay or refund duty under this Act immediately before the commencement of the Duties Amendment Act 2009 continues on and after that commencement until it is discharged in accordance with the provisions of this Act as in force immediately before the commencement of the Duties Amendment Act 2009 .

259C.   Transitional provisions consequent on repeal of Revenue Legislation (Miscellaneous Amendments) Act 2002

[Section 259C Inserted by No. 47 of 2011, s. 10, Applied:07 Dec 2011]

(1)  Any word or expression used in this section has the same meaning as in this Act, as in force immediately before the commencement of the Revenue Legislation (Miscellaneous Amendments) Act 2002 .

(2)  A reference in this section to a provision of this Act is to be taken to be a reference to the provision as in force immediately before the commencement of the Revenue Legislation (Miscellaneous Amendments) Act 2002 .

(3)  After 1 July 2002 –

(a) a lessor is not required to produce to the Commissioner a lease instrument for periodic assessment at any estimate date determined by the Commissioner under section 108 of this Act; and

(b) any additional duty that would have been payable if the periodic assessment had been made is not payable; and

(c) any refund of duty that would have been payable if the periodic assessment had been made is not payable.

(4)  If duty has been paid or a liability to duty exists on a lease before 1 July 2002 and an application for a reassessment of duty paid on a lease instrument has been made under section 112 of this Act on or after 23 May 2002, the Commissioner may refuse to grant a refund of any duty that would have been refundable if this subsection, or section 32(3) of the Revenue Legislation (Miscellaneous Amendments) Act 2002 , had not been enacted, if satisfied that, at any time after the termination of the lease, the lessee or an associated person has occupied the leased property, or substantially the same property, with the agreement, express or implied, of the lessor other than as a result of the sale of the property to the lessee or associated person.

(5)  A refund of duty is not payable on an application for a reassessment of duty paid on a lease instrument that is lodged under section 113 of this Act on or after 23 May 2002.

259D.   Savings and transitional provisions consequent on repeal of Revenue Measures Act 2005

[Section 259D Inserted by No. 47 of 2011, s. 10, Applied:07 Dec 2011]

(1)  Notwithstanding the repeal of Chapter 6 of this Act by the Revenue Measures Act 2005 , the Commissioner may recover from a mortgagor any mortgage duty that relates to a mortgage executed, or an advance or further advance made, before 1 July 2007 and that was unpaid at that day.

(2)  For the purposes of subsection (1) , the Taxation Administration Act 1997 is to be read as if Chapter 6 of this Act had not been repealed.

(3)  Notwithstanding the amendments to this Act effected by Part 6 of the Revenue Measures Act 2005 , the Commissioner may recover any duty that relates to a transaction entered into before 1 July 2008 involving the dutiable property referred to in section 9(1)(g) , (h) or (i) of this Act (as in force immediately before that day) and that was unpaid at that day.

(4)  For the purposes of subsection (3) , the Taxation Administration Act 1997 is to be read as if the amendments to this Act effected by Part 6 of the Revenue Measures Act 2005 had not been made.

259E.   Transitional provisions consequent on the enactment of Part 2 of the Revenue Measures Act 2012

[Section 259E Inserted by No. 23 of 2012, s. 7, Applied:01 Oct 2012]

(1)  If one or more transactions which were liable for duty prior to 1 October 2012 are to be aggregated with one or more transactions which are liable for duty on or after 1 October 2012 in accordance with section 22 or under section 71 , the duty chargeable on the transaction or transactions liable for duty on or after 1 October 2012 is to be calculated in accordance with the following formula:

where –

DP is the duty payable;

B is the duty calculated on the dutiable value of the aggregated transactions in accordance with the general rate of duty that was in effect on 1 October 2012;

A is the duty calculated on the dutiable value of the aggregated transactions in accordance with the general rate of duty that was in effect on 30 September 2012;

D is the dutiable value of the aggregated transaction or transactions that are liable for duty on or after 1 October 2012;

T is the total dutiable value of the aggregated transactions.

(2)  For the purposes of sections 22(4) and 71(3) , the duty payable in accordance with section 22 or under section 71 is taken to be the duty chargeable in accordance with this section.

260.   

See Schedule 2 .

261.    Stamp Duties Act 1931 repealed

The Stamp Duties Act 1931 is repealed.

262.    Stamp Duties Regulations 1998 rescinded

The Stamp Duties Regulations 1998 are rescinded.

SCHEDULE 1 - Savings and transitional provisions

Section 259

1.   Interpretation

In this Schedule –

commencement day means the day on which this Act commences;

former Act means the Stamp Duties Act 1931 .

2.   Provisions relating to dutiable property

(1) Section 22 extends to dutiable transactions at least one of which occurred before the commencement day and at least one of which occurred on or after the commencement day if –

(a) they occurred within 12 months; and

(b) the other provisions of that section are satisfied.

(2) Section 40 extends to –

(a) a transfer of property that is dutiable property to a trustee; and

(b) the payment of duty on that transfer –

before the commencement day if the transfer back to the transferor occurs on or after that day.

(3) [Schedule 1 Amended by No. 41 of 2013, s. 30, Applied:21 Oct 2013] Without limiting section 255 , the reference in section 41(c) to duty charged by this Act includes a reference to duty charged under the former Act.

(4) Section 33 extends to an agreement that was entered into before the commencement day and that was rescinded or annulled on or after that day.

(5) Section 56(3) extends to a payment of ad valorem duty made before the commencement day under the former Act.

3.   Provisions relating to certain transactions treated as transfers

(1) In section 71  –

(a) a reference to a period of 3 years is a reference to any such period starting before the commencement day and ending on or after the commencement day; and

(b) a reference to duty paid under this Act includes a reference to duty paid under the former Act; and

(c) a reference to duty paid under that section includes a reference to duty paid under Division 1 of Part IV of the former Act.

(2) An interest acquired before the commencement day in a land holding corporation in which the unencumbered value of the real property under section 35(1)(b) of the former Act was less than $1 million at the date of the relevant acquisition is to be disregarded for the purpose of calculating duty under this Act.

4.   [Schedule 1 Amended by No. 24 of 2002, s. 27, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

5.   [Schedule 1 Amended by No. 121 of 2001, s. 26, Applied:17 Dec 2001] [Schedule 1 Amended by No. 24 of 2002, s. 27, Applied:01 Jul 2002] .  .  .  .  .  .  .  .  

6.   Provisions relating to mortgages

(1) The duty charged by Chapter 6 is charged on an advance or a further advance made on or after the commencement day on a mortgage first executed before the commencement day to the extent that the amount advanced exceeds the amount to which the mortgage has been stamped to secure under the former Act.

(2) A mortgage duly stamped, endorsed exempt or not chargeable with duty under the former Act immediately before the commencement day is, on that day, taken to be duly stamped under this Act.

(3) A mortgage that is not duly stamped under the former Act immediately before the commencement day is, on that day, taken to be chargeable with duty under Chapter 6 .

(4) [Schedule 1 Amended by No. 121 of 2001, s. 26, Applied:17 Dec 2001] Despite subclause (3) , if –

(a) an advance was made under a mortgage over property partly within and partly outside Tasmania before the commencement day; and

(b) the mortgage is not duly stamped under the former Act before that day –

duty on the mortgage is assessable in accordance with item 3(f) of Schedule 4 to the former Act.

7.   Provisions relating to insurance

(1) A person who, immediately before the commencement day, is a person approved under section 12A of the former Act is, on that day, taken to be registered as an insurer.

(2) A policy of life insurance stamped under item 33 of Schedule 2 to the former Act is not chargeable with duty under Chapter 7 .

8.   Provision relating to motor vehicle registration

A certificate of exemption issued under the former Act remains in force until 4 months after the commencement day.

9.   Provision relating to miscellaneous matters

Section 236 extends to an application for a refund of duty paid under the former Act before the commencement day.

10.   Stamping under former Act

(1) Section 15 of the former Act applies to an instrument first executed but not stamped or insufficiently stamped before the commencement day.

(2) Section 70(3) of the former Act applies to an agreement for the sale of a business or a contract of sale first executed but not stamped or insufficiently stamped before the commencement day.

11.   Contracts of sale

Section 70(10) of the former Act applies to a contract for the sale, conveyance or transfer of land that is executed before the commencement day.

12.   Objections

An objection made under section 21 of the former Act and not determined before the commencement day is, on and after that day, to be determined under the former Act.

13.   Appeals

An appeal made under section 22 of the former Act and not determined before the commencement day is, on and after that day, to be determined under the former Act.

14.   Approved persons

A person who, immediately before the commencement day, was a person approved under section 12A of the former Act is, on that day, taken to be an approved person under Division 2 of Part 6 of the Taxation Administration Act 1997 .

15.   Payment of duty

Any arrangement for the payment of duty made under the former Act before the commencement day and not discharged before that day continues on and after that day until the obligation to pay is discharged.

16.   Obligation to pay duty

(1) Any obligation to pay duty under the former Act in force immediately before the commencement day continues on and after that day until it is discharged.

(2) The amount of duty payable in respect of an obligation referred to in subclause (1) is to be calculated, where applicable, in accordance with Schedule 4 to the former Act as if that Act had not been repealed.

17.   Authorised officer

A person who, immediately before the commencement day was an authorised officer under Division 3A of Part III of the former Act is, on that day, taken to be an authorised officer under Part 2 of the Taxation Administration Act 1997 .

18.   Powers of Commissioner and authorised officers

(1) The Commissioner may exercise any power referred to in Division IA or Division 4 of Part III of the former Act in relation to any obligation referred to in clause 16 as if that Act had not been repealed.

(2) An authorised officer referred to in clause 17 may exercise any power referred to in Division 3A of Part III of the former Act in relation to any obligation referred to in clause 16 as if that Act had not been repealed.

SCHEDULE 2 - Consequential Amendments

The amendments effected by Section 260 and this Schedule have been incorporated into the authorised version of the appropriate Acts.