Australian Capital Territory Consolidated Acts

DUTIES ACT 1999

TABLE OF PROVISIONS

           Long Title

CHAPTER 1--PRELIMINARY

   1.      Name of Act  
   2A.     Dictionary  
   2B.     Notes  
   2C.     Offences against Act—application of Criminal Code etc  
   3.      Incorporation of Taxation Administration Act  
   4.      Liability for payment of duty by Territory etc  
   4A.     Payment of duty equivalents by territory departments  
   5.      Duty a debt payable to Territory  

CHAPTER 2--TRANSACTIONS CONCERNING DUTIABLE PROPERTY

   PART 2.1--INTRODUCTION AND OVERVIEW

   6.      Definitions—ch 2  
   7.      Imposition of duty on certain transactions concerning dutiable  
   8.      Imposition of duty on dutiable transactions that are not transfers  
   9.      Form of a dutiable transaction  
   10.     Dutiable property  
   11.     When does a liability for duty arise?  
   12.     Who is liable to pay the duty?  
   13.     Liability of joint tenants  
   14.     Necessity for written instrument or written statement  
   15.     Lodging instrument etc with commissioner  
   16.     When must duty be paid?  
   16A.    Payment of duty—‘off the plan' purchase  
   16B.    Declaration of affordable house and land packages  
   17.     No double duty  
   18.     Rate of duty  
   19.     Concessions and exemptions from duty  

   PART 2.2--DUTIABLE VALUE

   20.     What is the dutiable value of dutiable property?  
   21.     What is the consideration for the transfer of dutiable property?  
   22.     What is the unencumbered value of dutiable property?  
   23.     Arrangements that reduce dutiable value  
   24.     Aggregation of dutiable transactions  
   25.     Value of goods in certain transactions also involving other  
   26.     Apportionment—dutiable property and other property  
   28.     Partnership interests  
   29.     Partitions  
   30.     Effect of alteration in purchase price  

   PART 2.3--RATES OF DUTY

   31.     General rate  
   32.     Shares, units and interests—marketable securities  
   33.     Certain business assets  

   PART 2.4--SPECIAL PROVISIONS

   49.     Interim payment of duty  
   50.     Cancelled agreements  
   51.     Grant of certain Crown leases on surrender of development leases  
   52.     Refund if Crown lease surrendered  
   53.     Transfers arising from mortgages of land  

   PART 2.5--CONCESSIONAL RATES OF DUTY

           Division 2.5.1--Trusts

   54.     Change in trustees  
   55.     Transfer to custodian of managed investment scheme  
   55A.    Transfers in relation to managed investment schemes  
   55B.    Transfers in relation to registered schemes  
   56.     Property vested in apparent purchaser  
   57.     Transfers back from nominee  
   58.     Property passing to beneficiaries  
   60.     Declaration of trust relating to managed investment scheme  
   60A.    Nomineeing transactions—unquoted marketable securities  

           Division 2.5.2--Superannuation

   62.     Transfer of property from one superannuation fund to another  
   63.     Transfers between trustees and custodians of superannuation funds or  

           Division 2.5.3--Miscellaneous

   64.     Transfer of land to certain authorities and other bodies  
   65.     Transfer of land under Workplace Relations Act  
   66.     Conveyances to prescribed people  
   67.     Conversion of property to unit title  
   68.     Surrender and regrant of Crown lease  
   68A.    Regrant of lease with additional land  
   69.     Deceased estates  
   70.     Certain transfers of marketable securities  
   70A.    Corporate reconstructions—concessional duty for dutiable  
   71.     Bankruptcy or insolvency  
   72.     Transfer to partner of interest in principal place of residence  
   72A.    Reduction of duty—payment in non-Australian jurisdiction  

   PART 2.6--EXEMPTIONS

   73.     Transfers to State, another Territory or prescribed authority  
   73A.    Transfers etc to entities for community housing  
   73D.    Transfers etc—long-term leases for residential purposes  
   74.     Transfers relating to mortgages  
   74A.    Financial and other agreements  
   74B.    Transfers relating to certain personal relationships  
   75.     Marketable securities  

   PART 2.6A--DEFERRED PAYMENTS--HOME BUYERS

   75AA.   Definitions—pt 2.6A  
   75AB.   Application to defer payment of duty  
   75AC.   Approval to defer payment of duty  
   75AD.   Conditions of deferral arrangement  
   75AE.   Unpaid duty and interest a debt and charge on property  

   PART 2.7--EXPIRY--PROVISIONS RELATING TO UNQUOTED MARKETABLE SECURITIES

   75A.    Expiry—provisions relating to unquoted marketable securities  

CHAPTER 3--CERTAIN TRANSACTIONS TREATED AS TRANSFERS

   PART 3.1--PRELIMINARY

   76.     Definitions for ch 3  
   77.     Imposition of duty  

   PART 3.2--ACQUISITION OF INTERESTS IN CERTAIN LANDHOLDERS

           Division 3.2.1--Preliminary

   78.     Definitions—pt 3.2  

           Division 3.2.2--Landholding entities

   78A.    Meaning of entity—pt 3.2  
   79.     Meaning of landholder—pt 3.2  
   80.     Meaning of landholding—pt 3.2  
   81.     Constructive ownership of landholdings and other property—linked  
   82.     Constructive ownership of landholdings and other property—discretionary  
   83.     Interest and significant interest in landholders—pt 3.2  
   83A.    Meaning of associated person—pt 3.2  
   84.     How person acquires an interest in a landholder—pt  

           Division 3.2.3--Charging of duty

   85.     When does liability for duty arise?  
   86.     What is a relevant acquisition?—pt 3.2  
   87.     Acquisition statements  
   88.     When must duty be paid?  
   89.     Who is liable to pay duty?  
   90.     How duty is charged on relevant acquisitions  

           Division 3.2.4--General and supplemental

   91.     Ch 3 transactions—concessional duty  
   91A.    Corporate reconstructions—concessional duty for relevant  
   92.     Maximisation of entitlements on distribution of property  
   93.     Valuation of property  
   94.     Agreements for sale or conveyance of land  
   95.     Duty concession—acquisitions securing financial  

   PART 3.2A--REGISTRATION OF UNIT TRUST SCHEMES

   95A.    Definitions—pt 3.2A  
   95B.    Applications for registration  
   95C.    Registration of imminent public unit trust schemes  
   95D.    Registration of wholesale unit trust schemes  
   95E.    Registration of imminent wholesale unit trust schemes  
   95F.    Duration of registration  
   95G.    Register of wholesale unit trust schemes  
   95H.    Reporting requirements for registered schemes  
   95I.    Cancellation of registration  
   95J.    Disqualifying circumstances for registered unit trust schemes  

   PART 3.3--ENTITLEMENTS ARISING FROM CAPITAL REDUCTIONS OR ALTERATIONS OF RIGHTS

   96.     Interpretation—pt 3.3  
   97.     When does liability for duty arise?  
   98.     When must duty be paid?  
   99.     Who is liable to pay duty?  
   100.    Entitlement to voting shares arising from capital reduction or rights  
   101.    What statement under s 100 must contain  
   102.    Assessment of duty  

   PART 3.4--ACQUISITION OF LAND USE ENTITLEMENTS BY ALLOTMENT OF SHARES OR ISSUE OF UNITS

   103.    When does liability for duty arise?  
   104.    When must duty be paid?  
   105.    Who is liable to pay duty?  
   106.    Acquisition of land use entitlement  
   107.    What statement under s 106 must contain  
   108.    Assessment of duty  

   PART 3.5--ALLOTMENT OF SHARES BY DIRECTION

   109.    Application of pt 3.5  
   110.    When does a liability for duty arise?  
   111.    When must duty be paid?  
   112.    Who is liable to pay the duty?  
   113.    Acquisition of shares by allotment  
   114.    What allotment statement must contain  
   115.    Assessment of duty  

   PART 3.6--VOLUNTARY TRANSFERS UNDER FINANCIAL SECTOR (BUSINESS TRANSFER AND GROUP RESTRUCTURE) ACT 1999 (CWLTH)

   115A.   Definitions—pt 3.6  
   115B.   Declaration required if business transferred  
   115C.   When does liability for duty arise?  
   115D.   When must duty be paid?  
   115E.   Who is liable to pay duty?  
   115F.   Assessment of duty  
   115G.   Exemptions from duty  

   PART 3.7--EXEMPTIONS--CH 3 TRANSACTIONS

           Division 3.7.1--Exempt transactions—personal relationships

   115H.   Exempt transactions relating to certain personal relationships  

           Division 3.7.2--Exempt transactions—‘top hatting' arrangements

   115I.   Definitions—div 3.7.2  
   115J.   Exemption for relevant acquisitions  
   115K.   Conditions of exemption  
   115L.   Revocation of exemption  

CHAPTER 7--MORTGAGES

   174.    Liability for duty  

CHAPTER 8--INSURANCE

   PART 8.1--PRELIMINARY

   175.    Definitions—ch 8  
   176.    When is a premium paid?  

   PART 8.2--GENERAL INSURANCE

   177.    Imposition of duty  
   178.    Rate of duty  
   179.    Who is liable to pay duty?  
   180.    Circumstances in which duty is payable by insured person  
   181.    Records to be kept  
   182.    Refunds if premiums returned  

   PART 8.3--LIFE INSURANCE

   183.    Imposition of duty  
   184.    Obligation to make out and execute policy of life insurance  
   185.    Rates of duty  
   186.    Who is liable to pay duty?  
   187.    When duty payable by insured person  
   188.    Refund on cancellation of life insurance policy  

   PART 8.4--PAYMENT OF DUTY BY INSURERS

   188A.   Meaning of insurer—pt 8.4  
   189.    Insurers to be registered  
   190.    Registration of insurers  
   191.    Cancellation of registration by commissioner  
   192.    Insurer stopping writing insurance business  
   193.    Register of insurers  
   194.    Monthly returns and payment of duty  
   195.    Recovery of duty by registered insurer  

   PART 8.5--APPORTIONMENT

           Division 8.5.1--Apportionment of premiums and other amounts between Australian jurisdictions

   196.    Application of div 8.5.1  
   197.    Object of div 8.5.1  
   198.    Schedule of apportionment  
   199.    Apportionment in practice  

           Division 8.5.2--Apportionment of premiums and other amounts between different types of insurance

   200.    Apportionment between different types of insurance  

   PART 8.6--EXEMPT INSURANCE

   201.    Insurance exempt from duty generally  
   201A.   Insurance exempt from duty in certain circumstances  

   PART 8.7--MISCELLANEOUS

   202.    Effect on contract of insurance of failure to comply with ch 8  

CHAPTER 9--MOTOR VEHICLE REGISTRATION

   PART 9.1--IMPOSITION AND RATES OF DUTY

   203.    Meaning of dutiable value—pt 9.1  
   203A.   Registration of vehicles in the name of 2 or more people  
   204.    Imposition of duty  
   205.    Lodgment of statement of dutiable value  
   206.    Who is liable to pay duty?  
   207.    When does duty become payable?  
   208.    Rate of duty  
   208AA.  Corporate reconstructions—concessional duty for motor vehicle registration  

   PART 9.2--EXEMPTIONS

   208A.   Definitions—pt 9.2  
   209.    Government vehicles  
   209A.   Foreign countries  
   209B.   International organisations and diplomats  
   210.    Hospitals and schools  
   210A.   Charitable organisations  
   211.    Certain disabled people  
   211A.   Partial exemption—modified vehicles for people with  
   212.    Successors of deceased people  
   213.    Vehicle registration transfers relating to certain personal  
   214.    Vehicle dealers—registration of demonstrators and trading  
   214A.   Renewal of registration of demonstrators and trading stock  
   215.    Organisations registered under Workplace Relations Act  
   216.    Repossessed motor vehicles  
   217.    Veteran, vintage and historic vehicles  
   218.    Avoidance of double duty—duty paid in corresponding Australian  
   219.    Reassessment of duty—repossession of stolen motor vehicle  

   PART 9.3--MISCELLANEOUS

   221.    Prerequisites for registration  
   223.    Returns by road transport authority  
   224.    Rectification of errors in registration  
   225.    Refund of duty on cancellation of sale  
   226.    Certificates as evidence  

CHAPTER 10--MISCELLANEOUS DUTIES

   227.    Duplicates and counterparts  
   228.    Replicas  
   229.    Minimum amount of duty  
   229A.   Approved agents and taxpayers—exemption from $20 concessional duty and s 229  

CHAPTER 11--GENERAL EXEMPTIONS FROM DUTY

   230.    Inter-generational rural transfers  
   231.    Specialised agencies  

CHAPTER 12--MISCELLANEOUS

   PART 12.1--STAMPING INSTRUMENTS

   233.    Meaning of stamped  
   234.    Stamping instruments  
   235.    Stamping duplicates or counterparts of instruments  
   238.    Stamp defaced or removed  
   239.    Electronic assessment and payment of duty  
   241.    Offence to stamp without authority  
   242.    Instruments to be separately charged with duty in certain cases  
   243.    Execution of instruments  
   244.    Stamping of instruments after execution  
   245.    Stamping taken to constitute assessment  
   246.    Deferred payments for certain stamped instruments  

   PART 12.2--ENFORCEMENT

   247.    Registration of instruments  
   248.    Registration of transfers of shares  
   249.    Registration of transfers of units  
   250.    Receipt of instruments in evidence  
   251.    Valuation of property  

   PART 12.3--MISCELLANEOUS

   252.    Objections  
   252AA.  Review of decisions by ACAT  
   252A.   Declaration of recognised stock exchanges  
   253.    Regulation-making power  

CHAPTER 14--TRANSITIONAL—DUTIES AMENDMENT ACT 2006

   400.    Application of ch 2 to certain transfers and transactions  
   401.    Application of ch 5 to certain franchise arrangements  
   402.    Transitional regulations—ch 14  
   403.    Expiry—ch 14  

CHAPTER 15--TRANSITIONAL—DUTIES AMENDMENT ACT 2006 (NO 2)

   PART 15.1--TRANSITIONAL--HIRE OF GOODS

   410.    Application of ch 6 to hiring charges received by commercial hire business before  
   411.    Application of ch 6 to hire of goods entered into before 1 July  
   412.    Application of ch 6 to certain arrangements  
   413.    Transitional regulations—pt 15.1  
   414.    Expiry—pt 15.1  

   PART 15.2--TRANSITIONAL--LEASE INSTRUMENTS

   420.    Application of ch 5 to leases entered into before 1 July 2009  
   421.    Application of ch 5 to certain arrangements  
   422.    Transitional regulations—pt 15.2  
   423.    Expiry—pt 15.2  

   PART 15.3--TRANSITIONAL--UNQUOTED MARKETABLE SECURITIES

   430.    Application of repealed provisions to certain arrangements  
   431.    Transitional regulations—pt 15.3  
   432.    Expiry—pt 15.3  

CHAPTER 16--TRANSITIONAL—DUTIES AMENDMENT ACT 2008

   440.    Meaning of repealed provisions—ch 16  
   441.    Application of repealed provisions  
   442.    Transitional regulations—ch 16  
   443.    Expiry—ch 16  

CHAPTER 17--TRANSITIONAL—DUTIES (LANDHOLDERS) AMENDMENT ACT 2008

   450.    Application of pt 3.2 to existing private unit trust schemes  
   451.    Transitional regulations—ch 17  
   452.    Expiry—ch 17  
           DICTIONARY
           ENDNOTES