Northern Territory Consolidated Acts

STAMP DUTY ACT - SECT 83B

(1) If:

(a) a dutiable transaction occurs; and

(b) the transaction is not effected or evidenced by a dutiable instrument or such an instrument existed but has been lost or destroyed;

the responsible party must lodge a statement in respect of the transaction with the Commissioner.

(2) The statement:

(a) must be in the approved form; and

(b) must be lodged within 60 days after the date of the dutiable transaction to which it relates.

(3) The statement is a dutiable instrument that is liable to duty in the same way, and to the same extent, as if it were an instrument effecting the dutiable transaction executed on the date of that transaction.

(4) Duty on the statement must be paid on or before the last day allowed for its lodgement or a later date fixed in a notice of assessment of duty.

(5) If a statement is not lodged, or duty is not paid, as required by this section, the responsible party is guilty of an offence.

Maximum penalty: 100 penalty units.

(6) A statement is not liable to duty under this section if the Commissioner is satisfied that the relevant transaction:

(a) is not a tax avoidance scheme or part of a tax avoidance scheme; and

(b) the relevant transaction is:

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

(ii) the appointment of a liquidator under the Corporations Act 2001; or

(iii) the making of a compromise or arrangement under Part 5.1 of the Corporations Act 2001; or

(iv) the issue or redemption of units in a unit trust scheme; or

(v) a transfer of property by way or pledge or security; or

(vi) the release or termination of an option to purchase dutiable property.