Northern Territory Consolidated Acts

STAMP DUTY ACT - SECT 17A

(1) A conveyance to give effect to an agreement to convey dutiable property is to be stamped without payment (or further payment) of ad valorem duty if:

(a) the agreement is duly stamped as a conveyance; and

(b) the conveyance is subsequent to, and in conformity with, the agreement; and

(c) no further dutiable transaction affecting the dutiable property has occurred between the date of the agreement and the date of the conveyance.

(2) However:

(a) the conveyee must be the person, identified in the agreement, to whom the dutiable property was agreed to be conveyed; or

(b) the Commissioner must be satisfied that the person so identified entered into the agreement as agent for the conveyee; or

(c) the Commissioner must be satisfied that the person so identified entered into the agreement on behalf of:

(i) a corporation that was, as at the date of the agreement, yet to be incorporated or acquired by the person so identified; or

(ii) a trust that was, at the date of the agreement, yet to be established by the person so identified;

and that the conveyee is the corporation or the trustee of the trust.

(2A) In addition, a transfer of dutiable property is to be stamped without payment (or further payment) of ad valorem duty if:

(a) an agreement for the conveyance of the property is duly stamped; and

(b) the purchaser under the agreement and transferee under the transfer:

(i) are related under subsection (2B) when the agreement is made and when it is completed or settled; and

(ii) except for the trustee of a family trust mentioned in subsection (2B)(c), will not hold the property as trustee; and

(c) no valuable consideration is given by the transferee to the purchaser; and

(d) the transfer occurs at the same time as, or proximately with, the completion or settlement of the agreement.

(2B) The purchaser and transferee are related if:

(a) they are in a family relationship; or

(b) one of them is an individual who is a shareholder of a family company and the other is the family company; or

(c) one of them is an individual who is a beneficiary in a family trust and the other is a trustee of the family trust; or

(d) they are related corporations.

(3) In this section, a reference to a conveyance extends to a lease that is liable to ad valorem duty.