Queensland Consolidated Acts

[Index] [Search] [Search this Act] [Notes] [Noteup] [Download] [Help]

Duties Act 2001


TABLE OF PROVISIONS

           Contents

           Chapter 1--Introduction

           Part 1--Preliminary

   1.      Short title
   2.      Commencement

           Part 2--Interpretation

   3.      Definitions
   5.      Relationship of Act with Administration Act

           Part 3--Application of Act

   6.      Act binds all persons
   7.      Extra-territorial application
   7A.     Declaration of excluded matter for Corporations Act

           Chapter 2--Transfer duty

           Part 1--Preliminary

   8.      Imposition of transfer duty

           Part 2--Some basic concepts for transfer duty

   9.      What is a dutiable transaction
   10.     What is dutiable property
   11.     What is the dutiable value of a dutiable transaction
   12.     Consideration for dutiable transactions—general
   13.     Consideration for dutiable transaction—transfer by way of security
   14.     What is the unencumbered value of property
   15.     When unencumbered value of property is determined

           Part 3--Liability for transfer duty

   16.     When liability for transfer duty arises
   17.     Who is liable to pay transfer duty
   18.     Need for instrument, ELN transfer document or statement
   19.     Lodging instrument, ELN transfer document or statement
   20.     Effect of making or lodging instrument, ELN transfer document or statement by 1 party
   21.     No double duty—general
   22.     No double duty—particular dutiable transactions
   23.     When credit to be allowed for duty paid
   24.     Rates of transfer duty
   25.     Payment of transfer duty for deeds of grant and particular freeholding leases

           Part 4--Apportionment of consideration or unencumbered value for particular dutiable transactions

   26.     Apportionment—head office or principal place of business in Queensland
   27.     Apportionment—head office or principal place of business in another State
   28.     Apportionment of particular dutiable transactions relating to existing and new rights

           Part 5--Dutiable transactions relating to dutiable property

   29.     When transaction for chattel is not dutiable transaction
   30.     Aggregation of dutiable transactions
   31.     Partitions 32. Transfer by way of security—land
   33.     Transfer by way of security—other dutiable property

           Part 6--Special provisions about dutiable transactions relating to Queensland business assets

           Division 1--Some basic concepts about Queensland businesses and their assets

   34.     What is a Queensland business asset
   35.     What is a business asset
   36.     What is a Queensland business

           Division 2--Transactions for particular assets of Queensland businesses

   37.     When transaction for particular Queensland business assets not dutiable transaction
   38.     When consignment of trading stock of Queensland business is a dutiable transaction
   39.     Surrender of Queensland business asset so replacement asset may be granted

           Part 7--Dutiable transactions relating to partnerships

           Division 1--Preliminary

   40.     Interpretation for property held by partnership or trust

           Division 2--Some basic concepts about partnership acquisitions

   41.     What is a partnership acquisition
   42.     What is a partner's partnership interest
   43.     What is a partnership's indirect interest in dutiable property
   44.     Acquiring a partnership interest

           Division 3--Dutiable value of partnership acquisitions

   45.     What is the dutiable value of a partnership acquisition
   46.     What is the value of a partnership acquisition—general
   47.     What is the value of a partnership acquisition—merger of 2 or more partnerships

           Division 4--Dutiable value of other dutiable transactions for dutiable property of partnership

   48.     Dutiable value of dutiable transaction reduced for transfer of dutiable property to partner on retirement or dissolution

           Part 8--Dutiable transactions relating to trusts

           Division 1--Preliminary

   49.     Application of pt 8
   50.     Joint trustees

           Division 2--Some basic concepts about property

   51.     Interpretation for property held by trust or partnership
   52.     Contracted property and trust interests

           Division 3--Creation and termination of trusts

   53.     Creating trust of dutiable property
   54.     Terminating trust of dutiable property

           Division 4--Some basic concepts about trust acquisitions and trust surrenders

   55.     What is a trust acquisition
   56.     What is a trust surrender
   57.     What is a trust interest
   58.     What is a trust's indirect interest in dutiable property
   59.     Acquiring a trust interest
   60.     Beneficiary's trust interest is percentage of or proportionate to property held on trust
   61.     Who is a related person

           Division 5--Dutiable value of trust acquisitions and trust surrenders

   62.     What is the dutiable value of a trust acquisition or trust surrender
   63.     What is the value of a trust acquisition or trust surrender

           Division 6--Liability to transfer duty

   64.     Liability to pay transfer duty on creation or termination of trust
   65.     Liability of joint trustees
   66.     When no transfer duty on trust acquisition or trust surrender
   67.     Parties to trust acquisition and trust surrender

           Division 7--Public unit trusts
           Subdivision 1--Preliminary

   68.     What is a public unit trust
           Subdivision 2--Basic concepts about listed unit trusts
   69.     What is a listed unit trust
           Subdivision 3--Basic concepts about widely held unit trusts
   70.     What is a widely held unit trust
   71.     When unit trust may be treated as widely held unit trust
           Subdivision 4--Basic concepts about wholesale unit trusts
   72.     What is a wholesale unit trust
   73.     What is a funds manager
   74.     Who is a wholesale investor
           Subdivision 5--Basic concepts about pooled public investment unit trusts
   75.     What is a pooled public investment unit trust
   76.     Who is a qualified holder and a large qualified holder
   76A.    Approval of class of foreign unit holders as qualified holders
   76B.    Approval of particular foreign unit holder as qualified holder
   76C.    Approval holders must notify commissioner of material changes
   76D.    Cancellation or variation of approvals
   77.     Who is holder of units in pooled public investment unit trust
   78.     Who is entitled to units in pooled public investment unit trust
           Subdivision 6--Basic concepts about declared public unit trusts
   79.     What is a declared public unit trust
           Subdivision 7--Majority trust acquisitions in land holding trusts
   80.     What is a majority trust acquisition
   81.     Interpretation for majority trust acquisitions
   81A.    Particular trust interests disregarded for majority trust acquisitions
   82.     Deduction—transfer duty for majority trust acquisition
           Subdivision 8--Indirect trust interests
   83.     Person's indirect trust interest is proportionate to land holding trust's dutiable property
   84.     What is the value of person's entitlement in land holding trust

           Part 8A--Concessions for farm-in agreements

           Division 1--Some basic concepts about farm-in agreements

   84A.    Who is a farmor
   84B.    What is an upfront farm-in agreement
   84C.    What is a deferred farm-in agreement
   84D.    What is a 100% transfer farm-in agreement
   84E.    What is the expenditure completion date and an ECD variation
   84F.    What is relevant exploration or development

           Division 2--Transfer duty for farm-in agreements

   84G.    Farm-in agreement is an agreement for the transfer of dutiable property
   84H.    Exemption—particular transfers to farmor under upfront farm-in agreement
   84I.    Exclusion of s 22(2) for particular dutiable transactions under farm-in agreement

           Division 3--Concessions for transfer duty for farm-in agreements

   84J.    How transfer duty is initially assessed on farm-in agreement

           Division 4--Lodgement and notice requirements for upfront farm-in agreements

   84K.    Lodgement requirement on expenditure of exploration amount
   84L.    Notice requirement for farmee in particular circumstances

           Division 5--Reassessments

   84M.    When commissioner must reassess transfer duty
   84N.    How transfer duty is reassessed on farm-in agreements

           Division 6--Miscellaneous

   84O.    Application of penalty tax under Administration Act
   84P.    Exclusion of arrangements to avoid the imposition of transfer duty

           Part 9--Concessions for homes

           Division 1--Preliminary

   85.     Purpose of pt 9

           Division 2--Some basic concepts about concessions for homes

   86.     What is a home and a first home
   86A.    What is residential land
   86B.    What is a first home for a residence to be constructed on vacant land
   86C.    What is vacant land
   86D.    What is a vacant land concession beneficiary
   87.     What is a residence
   88.     What is a person's occupation date for a residence
   89.     What is a person's transfer date for residential land or vacant land
   90.     What is the dutiable value of residential land or vacant land

           Division 3--Concessions for homes and first homes

   91.     Concession—home
   92.     Concession—first home
   93.     Concession—mixed and multiple claims for individuals—residential land
   93A.    Concession—mixed and multiple claims for individuals—vacant land
   94.     Concession—mixed and multiple claims for trustees—residential land
   94A.    Concession—mixed and multiple claims for trustees—vacant land
   95.     Application for concession

           Division 4--Miscellaneous

   95A.    Occupation date—particular arrangements for retirement village

           Part 10--Concessions for dutiable transactions for particular family businesses

           Division 1--Preliminary

   96.     Purposes of pt 10
   97.     Dutiable transactions to which pt 10 applies
   98.     Conditions for transfer or agreement for transfer of business property
   99.     Conditions for partnership acquisitions
   100.    Conditions for particular trust acquisitions
   101.    Conditions for creation of trusts and particular trust acquisitions
   102.    Conditions for acquisitions of interest in family unit trusts
   104.    Dutiable transactions by way of gift

           Division 2--Concessions for transfer duty for dutiable transactions

   105.    How transfer duty is assessed on dutiable transaction—primary production business
   105A.   How transfer duty is assessed on dutiable transaction—prescribed business
   106.    Special provision for assessing transfer duty if total gifts of property used for prescribed business exceed $500,000
   107.    Application for concession for transfer duty under pt 10

           Part 11--Concessions for superannuation

   108.    Dutiable transactions to which pt 11 applies
   109.    Concession for transfer duty
   110.    Documents to accompany application

           Part 13--Exemptions for transfer duty

           Division 1--Exemptions for cancelled agreements and particular agreements entered into before registration of companies

   115.    Exemption—cancelled agreements
   116.    Exemption—particular agreements entered into before registration of company

           Division 2--Exemptions for trusts

   117.    Exemption—change of trustee
   118.    Exemption—trust acquisition or surrender in family trust
   119.    Exemption—trust acquisition or surrender in superannuation fund
   120.    Exemption—trust acquisition or surrender for membership of particular unincorporated association
   121.    Exemption—trust acquisition or surrender for dutiable property comprising only existing rights
   122.    Exemption—restructure of stapled entities
   123.    Exemption—particular distribution of dutiable property to a beneficiary
   124.    Exemption—deceased person's estate
   125.    Exemption—particular vestings of dutiable property
   126.    Exemption—transactions for trust created for person under legal disability
   126A.   Exemption—special disability trusts
   127.    Exemption—declaration of charitable trust
   128.    Exemption—community purpose associations

           Division 3--Exemptions for particular investment schemes

   129.    Exemption—transfer by direction to primary custodian for responsible entity of registered managed investment scheme
   130.    Exemption—other transfers of scheme property of registered managed investment scheme

           Division 3A--Exemptions for eligible superannuation entities

   130A.   Exemption—transfer by direction to custodian for a superannuation entity
   130B.   Exemption—other transfers of fund property of eligible superannuation entities

           Division 3B--Exemptions for asset-backed securities
           Subdivision 1--Some basic concepts for asset-backed securities

   130C.   What is an asset-backed security
   130D.   Who is a financier
   130E.   What is a financial asset
   130F.   What is a pool of financial assets
   130G.   What is an authorised investment
           Subdivision 2--Exemptions
   130H.   Exemption—particular transactions for asset-backed securities

           Division 3C--Exemptions for mortgage-backed securities

   130I.   Exemption—mortgage-backed securities

           Division 4--Exemptions for dealings under particular Acts

   131.    Exemption—dealings under Aboriginal and Torres Strait Islander Land Acts
   132.    Exemption—vesting under boundary adjustment plans
   133.    Exemption—community titles schemes
   134.    Exemption—forfeiture orders
   135.    Exemption—industrial organisations
   136.    Exemption—dealings under Land Act
   137.    Exemption—mining, petroleum and other particular legislation
   138.    Exemption—manufactured homes
   139.    Exemption—dealings under South Bank Corporation Act
   140.    Exemption—particular water entitlements
   141.    Exemption—particular statutory bodies

           Division 5--Miscellaneous exemptions

   142.    Exemption—charitable institutions
   143.    Exemption—change of tenure
   144.    Exemption—joint tenancy
   145.    Exemption—transfer to State for public or community purpose
   146.    Exemption—leases of particular residences
   147.    Exemption—surrender of lease
   148.    Exemption—marketable securities etc.
   149.    Exemption—debt factoring agreements
   150.    Exemption—particular chattels
   151.    Exemption—particular residences
   151A.   Exemption—indigenous land use agreements
   152.    Exemption—to correct clerical error in previous dutiable transaction
   152A.   Exemption—previous dutiable transaction for a section 152 exempt transaction if clerical error is a misdescription of property

           Part 14--Reassessments for transfer duty

           Division 1--Reassessments for concessions for homes

   153.    Reassessment—disposal after occupation date for residence
   154.    Reassessment—noncompliance with occupancy requirements
   155.    When transferees, lessees and vested persons for land must give notice for reassessment

           Division 2--Reassessments for concessions and exemptions for superannuation

   156.    Reassessment—noncomplying superannuation fund or public superannuation entity

           Division 3--Reassessments for cancelled transfers of dutiable property

   156A.   Reassessment of duty for cancelled transfer of dutiable property

           Division 4--Reassessments for exemptions for indigenous land use agreements

   156B.   Reassessment on application
   156C.   Reassessment—noncompliance with particular requirements

           Part 15--Provisions for ELN transfers

           Division 1--Preliminary

   156D.   Definitions for pt 15
   156E.   When an ELN transfer document is signed
   156F.   When an ELN workspace is locked and unlocked
   156G.   When transfers of dutiable property are related

           Division 2--Provisions about liability for transfer duty
           Subdivision 1--Preliminary

   156H.   Effect of multiple locking events for ELN workspace
   156I.   Liability for transfer duty not affected by particular events
           Subdivision 2--No multiple duty—incomplete ELN transfers related to completed transfer
   156J.   Application of sdiv 2
   156K.   When liability for transfer duty is imposed on incomplete ELN transfers and completed transfer
   156L.   Deemed compliance with duty obligation for incomplete ELN transfer
           Subdivision 3--Other provisions
   156M.   Exclusion of ss 21 and 22(2) and (2A) for ELN transfers etc.

           Division 3--Payment commitments

   156N.   Making of payment commitment for agreement to transfer dutiable property
   156O.   Payment commitment does not affect liability to pay

           Division 4--Charge for unpaid transfer duty

   156P.   Charge over transferee's interest in land for unpaid transfer duty for ELN transfer
   156Q.   Commissioner may apply to Supreme Court for order to sell
   156R.   When court must order sale of land
   156S.   Application of proceeds of sale
   156T.   Registration of transfer
   156U.   Former owner may recover proceeds of sale as debt

           Division 5--Miscellaneous

   156V.   Particular information in ELN workspace taken to be stated to commissioner
   156W.   Effect of self assessor's endorsement of ELN transfer document for incomplete ELN transfer

           Chapter 3--Landholder duty and corporate trustee duty

           Part 1--Landholder duty

           Division 1--Preliminary

   157.    Imposition of landholder duty

           Division 2--Some basic concepts for landholder duty
           Subdivision 1--Some basic concepts about acquiring interests in landholders

   158.    What is a relevant acquisition
   159.    What are interests and significant interests in a landholder
   160.    Interest in landholder is percentage of distributable property on winding up of a corporation or termination of a listed unit trust
   161.    Entitlement on distribution of corporation's property
   161A.   Entitlement on distribution of listed unit trust's property
   161B.   Matters about applying ss 161 and 161A
   162.    Acquiring an interest in a landholder
   163.    When is an interest acquired
   164.    Who is a related person
           Subdivision 2--Some basic concepts about entities and their land-holdings and property
   165.    What is a landholder
   165A.   What is a private landholder and public landholder
   166.    What is a subsidiary
   167.    What are an entity's land-holdings
   168.    What is an entity's property
           Subdivision 3--Some basic concepts about unencumbered values of land-holdings and property
   170.    Value of co-owned land-holdings
   171.    Value of land-holdings in uncompleted agreement for transfer included
   173.    Value of land-holdings and property—business property disregarded

           Division 3--Liability for landholder duty

   174.    When liability for landholder duty arises
   175.    Who is liable to pay landholder duty
   177.    Landholder duty statement
   178.    Effect of lodging landholder duty statement by acquirer or related person

           Division 4--Working out landholder duty for relevant acquisitions
           Subdivision 1--Private landholders

   178A.   Rate of landholder duty
   179.    Working out dutiable value of relevant acquisition
           Subdivision 2--Public landholders
   179A.   Landholder duty
   179B.   Dutiable value of dutiable transaction for s 179A
           Subdivision 3--Other provisions for working out dutiable value
   180.    Aggregation of particular relevant acquisitions
   182.    Unencumbered value of land-holdings of subsidiary of landholder
   183.    Land transferred for shares or units to be disregarded
   184.    Value of co-owned land-holdings
           Subdivision 4--Deductions
   185.    Deduction—corporate trustee duty
   186.    Deduction—transfer duty for particular trusts
   187.    Deduction—transfer duty for marketable securities
   188.    Deduction—mortgage duty

           Division 5--Exempt acquisitions

   189.    Exemption—particular share or unit issues
   190.    Exemption—security interests
   191.    Exemption—change of trustee
   192.    Exemption—acquisition by liquidator
   193.    Exemption—compromise or arrangements
   193A.   Exemption—restructure of stapled entities
   194.    Exemption—if transfer duty not imposed
   194A.   Exemption—marketable securities
   195.    Exemption—no liability for transfer duty on acquisition in other way
   196.    Interests acquired under exempt acquisitions disregarded for particular purposes

           Division 6--Reassessments for landholder duty

   197.    When commissioner must make reassessment

           Division 7--Enforcement
           Subdivision 1--Charges

   198.    Charge over land for unpaid landholder duty
           Subdivision 2--Power of sale
   200.    Commissioner may apply to Supreme Court for order to sell
   201.    When court must order sale of land
   202.    Application of proceeds of sale
   203.    Registration of transfer
   204.    Landholder or subsidiary may recover proceeds of sale as debt

           Part 2--Corporate trustee duty

           Division 1--Preliminary

   205.    Imposition of corporate trustee duty
   206.    Interpretation for property held by partnership or trust

           Division 2--Some basic concepts for corporate trustee duty

   207.    What is a relevant acquisition
   208.    What is a share interest
   209.    What is a corporate trustee
   210.    What is a corporate trustee's indirect interest in dutiable property
   211.    What is a relevant corporation for a corporate trustee
   212.    Acquiring share interest in corporation
   213.    Contracted property and trust interests

           Division 3--Liability for corporate trustee duty

   214.    When liability for corporate trustee duty arises
   215.    Who is liable to pay corporate trustee duty
   216.    Rate of corporate trustee duty
   217.    Corporate trustee duty statement

           Division 4--Apportionment of unencumbered value for particular relevant acquisitions

   218.    Apportionment—head office or principal place of business in Queensland
   219.    Apportionment—head office or principal place of business in another State
   220.    Apportionment of particular acquisitions relating to existing rights

           Division 5--Dutiable value of relevant acquisitions

   221.    Acquirer's share interest is proportionate to shares in corporate trustee or relevant corporation
   222.    What is the dutiable value of a relevant acquisition
   223.    Aggregation of particular relevant acquisitions

           Division 6--Exempt acquisitions

   224.    Exemption—change of trustee
   225.    Exemption—relevant acquisition in family trust
   226.    Exemption—if transfer duty not imposed

           Division 7--Deductions and reassessments

   227.    Deduction—interstate transfer duty for shares
   228.    Deduction—transfer duty for trust acquisition
   229.    When commissioner must make reassessment

           Chapter 4--Additional foreign acquirer duty

           Part 1--Preliminary

   230.    Relevant transactions
   231.    Imposition of AFAD

           Part 2--Some basic concepts for AFAD

   232.    What is AFAD residential land
   233.    Who is an acquirer
   234.    Who is a foreign person
   235.    Who is a foreign individual
   236.    What is a foreign corporation
   237.    What is a foreign trust
   238.    Who are related persons
   239.    Property held by partnership or trust

           Part 3--Liability for AFAD

   240.    Conditions for imposing AFAD
   241.    Property condition for imposing AFAD

           Part 4--Calculating AFAD

   242.    Definitions for pt 4
   243.    Non-application of concessions
   244.    AFAD for transfer duty
   245.    AFAD for landholder duty
   246.    AFAD for corporate trustee duty

           Part 5--Reassessments

   246A.   Reassessment if corporation or trust becomes foreign

           Part 6--Charge for unpaid transfer duty

   246B.   Charge over interest in land for unpaid transfer duty
   246C.   Commissioner may apply to Supreme Court for order to sell
   246D.   When court must order sale of land
   246E.   Application of proceeds of sale
   246F.   Registration of transfer
   246G.   Former owner may recover proceeds of sale as debt

           Part 7--Miscellaneous

   246H.   Acquirer must lodge AFAD statement
   246I.   Recovery of transfer duty payment from foreign persons

           Chapter 5--Mortgage duty

           Part 1--Preliminary

   247.    Imposition of mortgage duty
   247A.   Abolition of mortgage duty from 1 July 2008

           Part 2--Some basic concepts for mortgage duty

   248.    What is a mortgage
   249.    What is an advance
   250.    What is a loan
   251.    Location of property
   251A.   Treatment of mortgages affecting property in Victoria or Tasmania

           Part 3--Liability for mortgage duty

   252.    When liability for mortgage duty arises
   253.    Who is liable to pay mortgage duty
   254.    Rate of mortgage duty
   255.    Lodging mortgage
   256.    Effect of lodging mortgage by mortgagor or mortgagee
   257.    Stamping before advance

           Part 4--Amount secured by a mortgage

   258.    What is the amount secured by a mortgage
   259.    Contingent liabilities
   260.    Mortgage over property not wholly in Queensland
   261.    Advances secured by mortgage package
   262.    Collateral mortgage
   263.    Extent mortgage is enforceable
   264.    Limit on security provided by stamped and collateral mortgages
   265.    Multi-jurisdictional statement

           Part 5--Mortgage duty on particular debenture issues, caveats and releases of mortgages

   266.    Mortgage duty associated with particular debenture issues
   267.    What is an exempt short-term debenture
   268.    Caveats
   269.    Releases of mortgages

           Part 6--Concessions for home mortgages and first home mortgages

           Division 1--Preliminary

   270.    Purpose of pt 6

           Division 2--Concessions for mortgage duty for home mortgages
           Subdivision 1--Some basic concepts about concessions for mortgage duty for home mortgages

   271.    What is a home mortgage
   272.    What is a home and first home for div 2
   273.    Who is a home borrower and a first home borrower
           Subdivision 2--Concessions for home mortgages
   274.    Concession for mortgage duty—home mortgage
   275.    Concession for mortgage duty—particular trusts

           Division 3--Concessions for mortgage duty for home refinance mortgages
           Subdivision 1--Some basic concepts about concessions for mortgage duty for home refinance mortgages

   276.    What is a home refinance mortgage
   277.    What is a home for div 3
   278.    Who is a home refinance borrower
           Subdivision 2--Concessions for home refinance mortgages
   279.    Concession for mortgage duty—home refinance mortgage
   280.    Concession for mortgage duty—particular trusts

           Division 4--Miscellaneous provisions

   281.    Further concession for particular home refinance mortgages
   282.    Application for concession for mortgage duty

           Part 7--Exemptions for mortgage duty

           Division 1--Particular debentures and instruments of trust, transfer of land by security and mortgages under particular Acts

   283.    Exemption—particular debentures and instruments of trust
   284.    Exemption—transfer of land by way of security
   285.    Exemption—mortgages under particular Acts

           Division 2--Asset-backed and mortgage-backed securities
           Subdivision 1--Some basic concepts for mortgage-backed securities

   286.    What is a mortgage-backed security
   287.    What is a mortgage
   288.    What is a pool of mortgages
   289.    What is an authorised investment
           Subdivision 2--Exemption
   289A.   Exemption—asset-backed security
   290.    Exemption—mortgage-backed security

           Part 8--Reassessments for mortgage duty

   290A.   Reassessment—stamping before advance—Victorian property
   290B.   Reassessment—stamping before advance—Tasmanian property
   291.    Reassessment—concession under pt 6
   292.    Reassessment—noncomplying use by cooperatives

           Chapter 8--Insurance duty

           Part 1--Preliminary

   349.    Imposition of insurance duty

           Part 2--Some basic concepts for insurance duty

   350.    What is general insurance
   351.    What is life insurance
   352.    What is accident insurance
   353.    What is a premium
   354.    Who is a general insurer
   355.    Who is a life insurer
   356.    What are net premiums charged

           Part 3--Liability for insurance duty

   357.    Who is liable to pay insurance duty
   358.    When insurance duty is payable—general insurance
   359.    When premium is paid—general insurance
   360.    When insurance duty is payable—life insurance
   361.    When insurance duty is payable—accident insurance
   362.    Rate of insurance duty—general and accident insurance
   363.    Rate of insurance duty—life insurance

           Part 4--Apportionment of premiums

           Division 1--Apportionment between States

   364.    Application of div 1
   365.    Purpose of div 1
   366.    Apportionment of premiums

           Division 2--Other apportionments

   367.    Apportionment between different types or classes of insurance
   368.    Apportionment of premiums between 2 or more policies

           Part 5--Arrangements applying to insurers and WorkCover Queensland

   369.    Insurers to be registered
   370.    Lodging returns and payment of insurance duty

           Part 6--Arrangements applying to other persons

   371.    Application of pt 6
   372.    Lodging statement and payment of insurance duty

           Part 7--Exemptions for insurance duty

   373.    Exemption—particular marine insurance
   374.    Exemption—goods in transit
   375.    Exemption—health insurance
   376.    Exemption—reinsurance

           Chapter 9--Vehicle registration duty

           Part 1--Preliminary

   377.    Imposition of vehicle registration duty

           Part 2--Some basic concepts for vehicle registration duty

   378.    What is the dutiable value of a vehicle
   379.    What is the market value of a vehicle
   379A.   Who is a relative
   379B.   When is a vehicle modified for a person with a disability

           Part 3--Liability for vehicle registration duty

   380.    Who is liable to pay vehicle registration duty
   381.    When vehicle registration duty must be paid
   382.    Assessment of vehicle registration duty
   383.    Rate of vehicle registration duty, other than for a special vehicle
   384.    Reduction in vehicle registration duty payable

           Part 4--Exemptions for vehicle registration duty

   385.    Exemption—registration of previously registered vehicle
   386.    Exemption—registration of interstate registered vehicle or previously registered vehicle
   387.    Exemption—registration of heavy vehicle
   388.    Exemption—business name
   389.    Exemption—vehicle dealer
   390.    Exemption—particular persons and entities
   391.    Exemption—forfeiture orders
   392.    Exemption—industrial organisations
   393.    Exemption—disposal under particular Acts

           Part 5--Reassessments for vehicle registration duty

   393A.   Reassessment—noncomplying use by vehicle dealer
   394.    Reassessment—noncomplying use by primary producer
   395.    Reassessment of vehicle registration duty

           Part 6--Miscellaneous provisions

   396.    Obligations of vehicle dealers

           Chapter 10--General exemptions

           Part 1--Exemptions for particular duties for corporate reconstruction

           Division 1--Preliminary

   397.    Purpose of pt 1

           Division 2--Some basic concepts about exemptions for duty for corporate reconstructions
           Subdivision 1--Basic concepts about corporate reconstructions

   398.    What is a corporate reconstruction
           Subdivision 2--Basic concepts about companies, group companies, parent companies and subsidiaries
   399.    What is a company
   400.    What are group companies, a group company and a corporate group
   401.    What is a parent company
   402.    What is a subsidiary
   403.    Example of corporate group structure
   404.    How part applies to particular transactions

           Division 3--Exemptions for corporate reconstructions

   406.    Exemption—intra-group transfers of property
   407.    Group property for intra-group transfer of property
   408.    Exemption—trustees
   409.    Exemption—landholder duty

           Division 4--Applications for rulings and exemptions

   410.    Application for ruling for proposed dutiable transaction or relevant acquisition
   411.    Application for exemption for dutiable transaction or relevant acquisition

           Division 5--Reassessments for corporate reconstructions

   412.    Reassessment—exemption for intra-group transfers of property, trustees and landholder duty
   413.    When parties must give notice for reassessment

           Part 2--Exemptions for particular duties for charitable institutions

           Division 1--Exemptions for charitable institutions

   414.    Exemption—particular duties for charitable institutions

           Division 2--Use requirements for exemptions

   415.    Use requirement
   416.    Start of use requirement
   417.    Commissioner to extend start date and duration period

           Division 3--Reassessments for charitable institutions

   418.    Reassessment on application of charitable institution
   419.    Reassessment—noncompliance with use requirements

           Part 3--Exemptions for matrimonial and de facto relationship instruments

           Division 1--Some basic concepts for matrimonial and de facto relationship instruments

   420.    What is a matrimonial instrument
   421.    What is matrimonial property
   422.    What is a de facto relationship instrument
   423.    What is de facto relationship property

           Division 2--Exemptions and reassessments

   424.    Exemption—matrimonial and de facto relationship instruments
   425.    Reassessment on application

           Part 4--Other exemptions

   426.    Exemption—State
   427.    Exemption—particular instruments and transactions relating to incorporated associations
   428.    Exemption—particular instruments and transactions under National Gas (Queensland) Act
   429.    Instruments and transactions under Housing Act 2003
   430.    Exemption—instruments and transactions under other Acts
   431.    Exemption—Queensland Investment Corporation
   431A.   Exemption—Queensland Treasury Corporation and its affiliates

           Chapter 11--Avoidance schemes

   432.    Purpose and operation of ch 11
   433.    Application of ch 11
   434.    When is a duty benefit obtained
   435.    Matters to be considered in deciding purpose for scheme
   436.    Assessments because of duty benefit from scheme

           Chapter 12--Registered persons

           Part 1--Registration of persons carrying on particular businesses and their registration as self assessors

   437.    Application for registration to carry on particular businesses
   438.    Registration to carry on business
   439.    Registration as self assessor
   440.    Notice of registration

           Part 2--Registration of parties to instruments and transactions as self assessors

   441.    Application for registration
   442.    Decision on application
   443.    Approval of application
   444.    Registration of self assessor without application
   445.    Notice of registration
   446.    Refusal of application
   447.    Restriction on assessment by commissioner

           Part 3--Registration of agents as self assessors

   448.    Application for registration
   449.    Decision on application
   450.    Approval of application
   451.    Registration of self assessor without application
   452.    Notice of registration
   453.    Refusal of application
   454.    Restriction on assessment by commissioner

           Part 4--Returns, transaction statements and reassessments by self assessors

   455.    Lodging returns
   455A.   Lodging transaction statements
   456.    When self assessor may make reassessments

           Part 5--Amendment, suspension and cancellation of registration of self assessors

   464.    Amendment of self assessor's registration
   465.    Grounds for suspension or cancellation
   466.    Show cause notice
   467.    Representations about show cause notices
   468.    Ending show cause process without further action
   469.    Suspension or cancellation of registration
   469A.   Immediate suspension
   470.    Suspension or cancellation of registration—ceasing to carry on business
   470A.   Cancellation of registration—type of duty abolished

           Chapter 12A--Provisions for parties to self assessable instruments or transactions

           Part 1--Preliminary

   471A.   Who is a liable party
   471B.   What is a relevant lodgement requirement

           Part 2--Provisions applicable if agent registered as self assessor

   471C.   Application of pt 2
   471D.   Effect of engagement of self assessor on relevant lodgement requirement
   471E.   Liable party must give documents, and pay duty, to self assessor
   471EA.  Liability not discharged until commissioner receives payment
   471F.   Giving documents to self assessor
   471G.   Prohibition on giving false or misleading documents to self assessor
   471H.   Prohibition on giving false or misleading information to self assessor

           Part 3--Provisions applicable if party registered as self assessor

   471I.   Application of pt 3
   471J.   Effect of engagement of self assessor on relevant lodgement requirement

           Chapter 13--Internal and external reviews

           Part 1--Reviews by commissioner

   472.    Applying for a review of an original decision
   473.    Deciding review
   474.    Notice of review decision

           Part 2--Reviews by QCAT

   475.    Applying for review by QCAT of a review decision
   476.    QCAT to decide external review on evidence given in the proceeding for the review
   477.    Representation of parties before QCAT

           Chapter 14--Enforcement and legal proceedings

   480.    Offences about self assessments—endorsements of instruments
   480A.   Offences about self assessments—endorsements of ELN transfer documents
   481.    Offence for person other than self assessor to endorse instrument or ELN transfer document
   481A.   Offence to endorse instrument or ELN transfer document incorrectly or illegibly
   482.    Obligations relating to unstamped instruments or ELN transfer documents
   483.    Registration of instruments and transactions
   484.    Registration of instrument relating to an interest in a corporation
   485.    Registration of instrument disposing of units in unit trust etc.
   486.    Saving of title—marketable securities and units in unit trust
   487.    Receipt of instruments or ELN transfer documents in evidence
   487A.   Limitation on use of ELN transfer document endorsed on basis of payment commitment
   488.    Commissioner may require payment of penalty
   489.    Penalty amounts to be alternative to prosecution

           Chapter 15--Signing and stamping of instruments

   490.    When is an instrument first signed
   491.    When is an instrument or ELN transfer document properly stamped
   492.    Way instruments are stamped
   493.    Stamping of instrument dependent on another instrument or transaction
   494.    Copies of instruments
   495.    Instrument must not be delivered until duty or fee paid

           Chapter 16--Miscellaneous provisions

   496.    Lodging declaration stating facts and circumstances
   497.    Recognition of duty paid for Commonwealth places
   498.    Special provisions for working out value of particular shares
   498A.   Suspension of quotation of securities as part of an avoidance arrangement
   499.    Reassessments of duty in particular circumstances
   500.    Application of Administration Act, pt 6, to particular decisions
   501.    Consideration for instruments and transactions on which duty imposed
   502.    Consideration based on contingency
   503.    Amounts stated in foreign currency
   504.    Aggregate minimum value and unencumbered value of particular shares
   505.    Valuation or evidence of value of property
   506.    Requirement to keep particular instruments
   506A.   Refunding stamp duty
   507.    Approved forms
   508.    Regulation-making power

           Chapter 17--Repeal, savings and transitional provisions

           Part 1--Repeal of Stamp Act 1894

   509.    Act repealed

           Part 2--Savings and transitional provisions for repeal of Stamp Act 1894

           Division 1--Interpretation

   510.    Definition for pt 2

           Division 2--Application of this Act and repealed Act

   511.    Application of this Act
   512.    Continued application of repealed Act
   513.    Delegations

           Division 3--Provisions for transfer duty
           Subdivision 1--Provisions for continuing repealed Act for particular transactions

   514.    Repealed Act applies to particular agreements to transfer
   515.    Repealed Act applies to particular acquisitions after transfer by way of security of other property
   516.    Repealed Act applies to particular dealings with statutory business licences
   517.    Repealed Act applies to particular dispositions of units in unit trust schemes
           Subdivision 2--Provisions for applying this Act for transactions before commencement day
   518.    Aggregation of dutiable transactions
   519.    Transfers by way of security—land
   520.    Particular transfers for deceased persons' estates not dutiable transactions
           Subdivision 3--Provisions for public unit trusts
   521.    Repealed Act applies to particular trust acquisitions and trust surrenders in widely held unit trusts
   522.    Repealed Act applies to issue of particular units in widely held unit trusts

           Division 4--Provisions for land rich duty

   523.    Aggregations for land rich duty
   524.    References to majority interests in land rich corporations
   525.    Particular acquisitions included as exempt acquisitions
   526.    Application of ch 3, pt 1, to particular acquisitions of security interests
   527.    Application of ch 3, pt 1, div 7, to particular amounts

           Division 5--Provisions for corporate trustee duty

   528.    Repealed Act applies to particular dispositions of shares
   529.    Aggregation of relevant acquisitions for corporate trustee duty

           Division 6--Provisions for lease duty

   530.    Repealed Act applies to particular leases and agreements for leases
   530A.   Repealed Act applies to instruments increasing rent in relation to particular leases etc.
   531.    Credit allowed for particular leases
   532.    Credit or refund for termination of particular leases etc.
   532A.   Ending of application of div 6

           Division 7--Provisions for mortgage duty

   533.    Liability for mortgage duty for particular mortgages first signed before commencement day
   534.    Credit allowed for particular agreements for mortgage
   535.    Particular mortgages imposed with mortgage duty on commencement day

           Division 9--Provisions for vehicle registration duty

   537.    Reduction in vehicle registration duty

           Division 10--Provisions for corporate reconstructions

   538.    Repealed Act applies to particular agreements
   539.    Group property for intra-group transfers of property

           Division 11--Provisions for approved and registered persons

   540.    Approved persons
   543.    Approved insurers
   544.    Effect of continued registration of persons
   545.    Exempt charitable institutions
   546.    Registration of particular institutions following reassessment

           Division 12--Miscellaneous provisions

   547.    Particular references to related persons
   548.    Instruments stamped under repealed Act
   549.    References in Acts or documents

           Part 3--Transitional provision for Duties Amendment Act 2004

   551.    Application of amendments about concession for transfer duty or mortgage duty for first home

           Part 4--Transitional provisions for Duties Amendment Act (No. 2) 2004

   552.    Application of amendments about concession for transfer duty for home
   553.    Application of amendments about credit card duty

           Part 5--Transitional and savings provisions for Revenue Legislation Amendment Act 2005

           Division 1--Provisions for ending of credit business duty

   554.    Meaning of particular terms used in div 1
   555.    Savings provision for pre-repeal credit transactions
   556.    Cash price for particular credit arrangements not included in credit amount
   557.    Ending of registration of credit providers

           Division 2--Provisions for ending of lease duty

   558.    Meaning of particular terms used in div 2
   559.    Savings provision for particular leases and occupancy rights
   560.    Application of repealed s 241
   561.    Reassessments under repealed s 242
   562.    Saving of particular provisions for exempt institutions
   563.    Leases etc. to which repealed Act applied
   564.    Ending of registration of self assessor
   565.    No refund of lease duty merely because lease or occupancy right ends on or after 1 January 2006

           Division 3--Provisions for amendments about transfer duty etc.

   566.    Application of amendments about rates of duty on dutiable transactions and relevant acquisitions for land rich and corporate trustee duty
   567.    Application of amendments about concession for transfer duty for home

           Part 6--Transitional and savings provisions for Revenue and Other Legislation Amendment Act 2006

           Division 1--Preliminary

   568.    Definitions for pt 6
   569.    References to terms with omitted definitions

           Division 2--Transitional provisions for amendment of provisions about concessions for homes and first homes

   570.    Retrospective operation of new s 92(1)(c)
   571.    Application of amendments about concession for transfer duty for residential land or vacant land

           Division 3--Savings and transitional provisions for amendments relating to Queensland marketable securities

   572.    Meaning of pre-repeal marketable security transaction
   573.    Savings provision for pre-repeal marketable security transactions
   574.    Deduction relating to transfer duty for marketable securities
   575.    Saving of particular provisions for exempt institutions
   576.    Ending of registration as self assessors
   577.    Transitional provision for s 484

           Division 4--Savings and transitional provisions for ending of hire duty

   578.    Definitions for div 4
   579.    Savings provision for pre-repeal hires
   580.    Duty payable for pre-repeal hire relating to a period ending on or after 1 January 2007
   581.    Ending of registration of commercial hirers
   582.    Saving of particular provisions for exempt institutions

           Division 5--Transitional provisions for amendment of provisions about mortgage duty

   583.    Application of amendments about concession for mortgage duty for home or first home

           Part 7--Transitional and savings provisions for Revenue and Other Legislation Amendment Act 2007

   584.    Application of amendment about rate of mortgage duty
   585.    Mortgage duty associated with debenture subscriptions in financial year ending 30 June 2008
   586.    Mortgage duty associated with caveats and releases of mortgage

           Part 8--Savings and transitional provisions for Revenue and Other Legislation Amendment Act (No. 2) 2007

   587.    Definitions for pt 8
   588.    Delayed application of amendments to agent self assessors
   589.    Savings provision about properly stamped instruments

           Part 9--Transitional provisions for the Revenue and Other Legislation Amendment Act 2008, part 2, division 2

           Division 1--Transitional provisions for abolition of mortgage duty

   590.    Definition for div 1
   591.    Requirement to lodge mortgage
   592.    Mortgage packages
   593.    Reassessment—stamping before advance
   594.    Mortgage duty on caveats
   595.    Mortgage duty on releases of mortgages
   596.    Reassessment—Victorian and Tasmanian property
   597.    Reassessment—concessions for home mortgages and first home mortgages
   598.    Reassessment—concessions for cooperatives
   599.    Saving of previous provisions for exempt institutions
   600.    Cancellation of registration to defer endorsement—s 446A
   601.    Lapsing of application for registration to defer endorsement
   602.    Requirement to lodge returns
   603.    Reassessment of duty in particular circumstances
   604.    Impact of div 1

           Division 2--Other transitional provisions

   605.    Application of amendments about rates of transfer duty, land rich duty and corporate trustee duty
   606.    Application of amendments about concession for transfer duty—residential land

           Part 10--Transitional provision for the Revenue and Other Legislation Amendment Act 2008, section 24

   607.    Application of amendments about concession for transfer duty—residential land

           Part 11--Savings and transitional provisions for Revenue and Other Legislation Amendment Act (No. 2) 2008

   608.    Meaning of commencement day
   609.    Limitation period—particular retirement village arrangements
   610.    Application of amendment about concession for transfer duty—first home
   611.    Reassessment of vehicle registration duty under s 393A
   612.    Non-application of s 471EA to liabilities arising before commencement day

           Part 12--Transitional provision for Fuel Subsidy Repeal and Revenue and Other Legislation Amendment Act 2009

   613.    Application of amendments about concession for transfer duty—vacant land

           Part 13--Transitional provisions for Revenue and Other Legislation Amendment Act 2010

   614.    References to an acquisition mentioned in s 85(b)
   615.    Exemption under s 117
   616.    Exemption under s 151
   617.    Charge mentioned in s 198
   618.    Registered general insurers and registered life insurers
   619.    Date of effect of particular provisions
   620.    Start of use requirement under s 416

           Part 14--Transitional provision for Revenue and Other Legislation Amendment Act 2011

   621.    Dutiable value of vehicles modified for a person with a disability

           Part 15--Transitional provisions for Community Ambulance Cover Levy Repeal and Revenue and Other Legislation Amendment Act 2011

           Division 1--Transitional provisions for Community Ambulance Cover Levy Repeal and Revenue and Other Legislation Amendment Act 2011

   622.    Definition for pt 15
   623.    Particular references to landholder duty, majority interests and relevant acquisitions
   624.    Relevant acquisitions made in a land rich corporation before 1 July 2011
   625.    Interests acquired before 1 July 2011 included for s 158
   626.    Particular interests taken to be excluded interests for s 179
   627.    Application of s 412

           Division 2--Savings provision for repeal

   628.    Pre-amended home concession provisions continue to apply for particular transactions

           Part 16--Transitional provision for Treasury (Cost of Living) and Other Legislation Amendment Act 2012

   629.    Application of amendments about concession for transfer duty—home

           Part 17--Transitional and declaratory provisions for Fiscal Repair Amendment Act 2012

           Division 1--Preliminary

   630.    Definitions for pt 17

           Division 2--Declaratory provision

   631.    Declaratory provision—effect of amending Act on meaning of land

           Division 3--Provisions for exploration authorities
           Subdivision 1--Preliminary

   632.    Purpose of div 3
           Subdivision 2--Liability for duty
   633.    Meaning of land for retrospectivity period
   634.    Meaning of statutory licence for retrospectivity period
   635.    Exemption from transfer duty for exploration authority granted during retrospectivity period
   636.    Exemption from transfer duty for transfer of exploration authority under particular agreements
   637.    Particular exploration land-holdings not to be taken into account for working out landholder duty
           Subdivision 3--Obligations of parties—transfer duty
   638.    Transfer duty—transactions previously not dutiable
   639.    Transfer duty—dutiable transactions not assessed before commencement day
   640.    Transfer duty—dutiable transactions assessed before commencement day
           Subdivision 4--Obligations of parties—landholder duty and corporate trustee duty
   641.    Landholder duty and corporate trustee duty—acquisitions not previously dutiable
   642.    Landholder duty and corporate trustee duty—relevant acquisitions not assessed before commencement day
   643.    Landholder duty and corporate trustee duty—relevant acquisition assessed before commencement day
           Subdivision 5--Obligations of other parties
   644.    Obligation for self assessor
   645.    Obligation for other persons in relation to registration of particular instruments
           Subdivision 6--Miscellaneous provisions
   646.    Offences during retrospectivity period
   647.    Properly stamped instruments not affected

           Division 4--Transitional provisions for other matters

   648.    Application of s 167
   649.    Application of amended sch 3

           Part 18--Transitional provisions for Revenue Amendment and Trade and Investment Queensland Act 2013

   650.    Application of s 152A
   651.    Application of amendment of s 155
   652.    Application of new rate of insurance duty under s 362

           Part 19--Transitional provisions for Revenue Legislation Amendment Act 2014

   653.    Application of amended ch 2, pt 10 and related provisions
   654.    Application of existing s 123 concession

           Part 20--Transitional provisions for Payroll Tax Rebate, Revenue and Other Legislation Amendment Act 2015

   655.    Definitions for pt 20
   656.    Retrospective operation of s 145
   657.    Retrospective operation of ch 2, pt 8A
   658.    Particular matters relating to upfront farm-in agreements for retrospectivity period
   659.    Application of Administration Act, pt 6—farm-in agreements
   660.    Application of start of use requirement under s 416

           Part 21--Transitional provisions for Duties and Other Legislation Amendment Act 2016

   661.    Application of amendments relating to s 105
   662.    Application of ch 4

           Part 22--Transitional provisions for Revenue and Other Legislation Amendment Act 2016

   663.    Application of s 154
   664.    Continuing application of pre-amended s 154 for s 291
   665.    Retrospective operation of s 375
   666.    Retrospective operation of s 404
           SCHEDULE 2--WHEN LIABILITY FOR TRANSFER DUTY ON DUTIABLE TRANSACTION ARISES
           SCHEDULE 3--RATES OF DUTY ON DUTIABLE TRANSACTIONS AND RELEVANT ACQUISITIONS FOR LANDHOLDER AND CORPORATE TRUSTEE DUTY
           SCHEDULE 4--EXAMPLE FOR PARTNERSHIP AND TRUST ACQUISITIONS AND RELEVANT ACQUISITIONS FOR CORPORATE TRUSTEES
           SCHEDULE 4A--AMOUNT OF CONCESSION FOR TRANSFER DUTY—FIRST HOME—RESIDENTIAL LAND
           SCHEDULE 4B--AMOUNT OF CONCESSION FOR TRANSFER DUTY—FIRST HOME—VACANT LAND
           SCHEDULE 4C--RATE OF VEHICLE REGISTRATION DUTY OTHER THAN FOR SPECIAL VEHICLES
           SCHEDULE 5--EXAMPLE FOR CORPORATE RECONSTRUCTION
           SCHEDULE 6--DICTIONARY


[Index] [Search] [Search this Act] [Notes] [Noteup] [Download] [Help]