Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) Dutiable property is any of the following:
(a) land in the ACT;
(b) a Crown lease;
(c) a land use entitlement;
(d) a lease (a long-term lease ) that is granted for—
(i) a term longer than 30 years; or
(ii) an initial term of 30 years or less, but with an option for renewal for 1 or more terms that would, taken together with the initial term, result in a term of longer than 30 years;
(e) a lease (also a long-term lease ) of land that is granted to a person for a term of 30 years or less if—
(i) the lease is granted on the surrender of a previous lease of the land granted to the person; and
(ii) the term of the lease, taken together with—
(A) the term for which the person held the previous lease; and
(B) the term (if any) for which the person held a lease of the land under any earlier surrendered lease;
would result in the person holding a lease of the land for a continuous period of longer than 30 years;
(f) a lease (also a long-term lease ) that is granted for an initial term of 30 years or less if—
(i) the lease is subsequently extended, or further extended; and
(ii) the term as extended, or further extended, is longer than 30 years;
(g) a franchise arrangement held in relation to a place or area located in the ACT that is granted for—
(i) a term of longer than 30 years; or
(ii) an initial term of 30 years or less, but with an option for renewal for 1 or more terms that would, taken together with the initial term, result in a term of longer than 30 years;
Note Paragraph (g) was inserted into the definition of dutiable property by the Duties Amendment Act 2006 (No 2) . It was formerly s 133, def "lease", par (c). For transitional provisions applying in relation to that paragraph as in force on 30 June 2006, see s 401.
(h) an interest in a partnership that holds dutiable property mentioned elsewhere in this section (a partnership interest );
Note Former paragraphs (i) and (j) (covering certain business assets and statutory licences and permissions) were removed from the definition of dutiable property by the Duties Amendment Act 2006 . For transitional provisions applying to these paragraphs, see s 400.
(i) goods in the ACT, if the subject of an arrangement that includes a dutiable transaction over any dutiable property (other than intellectual property) elsewhere mentioned in this section, not including the following:
(i) goods that are stock-in-trade;
(ii) material held for use in manufacture;
(iii) goods under manufacture;
(iv) goods held or used in connection with land used for primary production;
(v) livestock;
(vi) a registered motor vehicle;
(vii) a ship or vessel;
(j) an option to purchase land in the ACT or a Crown lease over land in the ACT;
(k) an interest in any dutiable property mentioned in paragraphs (a) to (j), except to the extent that it is, or is attributable to, an option over dutiable property.
(2) For subsection (1) (e), a lease is granted to, or held or surrendered by, a person if it is granted to, or held or surrendered by, the person or an associated person.
(3) In this section:
"holds"—a partnership holds dutiable property if (but not only if)—
(a) the partners hold the property for the partnership; or
(b) the partnership has an indirect interest in the property.
"indirect interest"—a partnership has an indirect interest in dutiable property if—
(a) through a partnership interest or trust interest there is a connection between the partnership and dutiable property of the other partnership or trust; or
(b) through a series of partnership interests or trust interests, or a combination of any of them, there is a connection between the partnership and dutiable property of a partnership in the series.