DUTIES ACT 2001 - SECT 9 What is a dutiable transaction

DUTIES ACT 2001 - SECT 9

9 What is a dutiable transaction

(1) Each of the following is a
"dutiable transaction" —

(a) a transfer of dutiable property;

(b) an agreement for the transfer of dutiable property, whether conditional or not;

(c) a surrender of dutiable property that is land in Queensland or a transferable site area;

(d) a vesting of dutiable property—

(i) by, or expressly authorised by, statute law of this or another jurisdiction, whether inside or outside Australia; or

(ii) by a court order, of this or another jurisdiction, whether inside or outside Australia;

(e) a foreclosure of a mortgage over dutiable property;

(f) an acquisition of a new right on its creation, grant or issue;

(g) a partnership acquisition;

Note—

See chapter 2 , part 7 (Dutiable transactions relating to partnerships).

(h) the creation or termination of a trust of dutiable property;

Note—

See chapter 2 , part 8 (Dutiable transactions relating to trusts), division 3 (Creation and termination of trusts).

(i) a trust acquisition or trust surrender.

Note—

See chapter 2 , part 8 (Dutiable transactions relating to trusts), division 4 (Some basic concepts about trust acquisitions and trust surrenders).

(2) It does not matter whether a dutiable transaction—

(a) is effected by an instrument or another way; or

(b) involves 1 or more parties.

(3) Subsection (1) has effect subject to sections 21 , 29 and 37 .

Note—

Under section 21 , the commissioner must decide the applicable dutiable transaction for imposition of duty if a transaction constitutes more than 1 type of dutiable transaction mentioned in subsection (1) .

Also, for when transactions for particular dutiable property are not dutiable transactions, see sections 29 and 37 .

(4) Without limiting subsection (1) (d) , property is vested under statute law if the law vests property in an entity that the law states is the successor in law of, continuation of or same entity as, the entity in which the property was previously vested.

(5) However, property is not vested under statute law, on the registration of a company under the Corporations Act , chapter 5B , part 5B.1 .