Victorian Current Acts
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DUTIES ACT 2000
TABLE OF PROVISIONS
3A. What is a controlling interest in a foreign corporation?
3B. What is a substantial interest in a trust estate?
3C. Commissioner may determine person has a controlling interest in a corporation
3D. Commissioner may determine person has a substantial interest in a trust
3E. Exemptions from holding controlling interests in foreign corporations or substantial interests in trust estates of foreign trusts
3F. Delegation of exemption power
3G. What is residential property?
4. Division of Act into Chapters
5. Taxation Administration Act 1997
6. Act binds the Crown
PART 1--INTRODUCTION AND OVERVIEW
7. Imposition of duty on certain transactions concerning dutiable property
7A. Vesting of land in Victoria by statute law
8. Imposition of duty on dutiable transactions that are not transfers
9. What form must a dutiable transaction take?
10. What is dutiable property?
11. When does a liability for duty arise?
12. Who is liable to pay the duty?
13. The liability of joint tenants
14. Necessity for written instrument or written statement
15. Lodging written instrument or statement with Commissioner
16. When must duty be paid?
17. No double duty
18. What is the rate of duty?
18A. Foreign purchasers—duty in respect of change of use of land
19. Concessions and exemptions from duty
19A. Foreign purchasers not entitled to concessions
PART 2--DUTIABLE VALUE
20. What is the dutiable value of dutiable property?
21. What is the consideration for the transfer of dutiable property?
21A. Commissioner may publish percentage
21B. Records to be kept
21C. Period of retention
21D. Power to require documents
21E. Joint and several liability for additional duty
22. What is the unencumbered value of dutiable property?
22A. Tenant's fixtures to be included in the value of land
22B. Interdependent sale of land and business goods
23. Arrangements that reduce the dutiable value of marketable securities
24. Aggregation of certain dutiable transactions
24A. Dutiable transactions relating to vacant land and construction of residential premises—where not constructed
25. Apportionment—dutiable property and other property
26. Partitions of marketable securities
27. Partitions of land
PART 3--RATES OF DUTY
28. General rate
28A. Rate for additional duty chargeable for foreign purchasers—residential property
29. Marketable securities
PART 4--SPECIAL PROVISIONS
30. Interim payment of duty
30A. Interim payment of duty in relation to electronic transactions
32. Transfers arising from mortgages of land
PART 4A--TRANSACTIONS TREATED AS SUB-SALES OF LAND
32B. Application of Division
32C. How duty is charged on transfer
32D. Dutiable value of transactions
32E. When does the liability to duty arise?
32F. Who is liable to pay the duty?
32G. Exemptions and concessions
32I. Application of Division
32J. How duty is charged on transfer
32K. Dutiable value of transactions
32L. When does the liability to duty arise?
32M. Who is liable to pay the duty?
32N. Exemptions and concessions
32O. Application of Division
32OA. How duty is charged on transfer
32OB. Dutiable value of transactions
32OC. When does the liability to duty arise?
32OD. Who is liable to pay the duty?
32OE. Exemptions and concessions
32P. Application of Division
32Q. How duty is charged on transfer
32R. Dutiable value of transactions
32S. When does the liability to duty arise?
32T. Who is liable to pay the duty?
32U. Exemptions and concessions
32V. Provisions for determining consideration
32W. Transactions between relatives
32X. Parties required to provide information to Commissioner
PART 5--EXEMPTIONS AND CONCESSIONAL RATES OF DUTY
32Y. References to dutiable property
33. Change in trustees
34. Property vested in an apparent purchaser
35. Transfers to and from a trustee or nominee
36. Property passing to beneficiaries of fixed trusts
36A. Property passing to beneficiaries of discretionary trusts
36B. Property passing to unitholders in unit trust schemes
36C. Effect of certain mortgages on trust exemptions
37. Establishment of a trust relating to unidentified property and non‑dutiable property
38. Exemptions from duty under section 37
38A. Special disability trusts
38B. References to dutiable property
39. Instruments relating to superannuation
40. Transfer of property from one superannuation fund to another
41. Transfers to trustees or custodians of superannuation funds or trusts
41A. Property passing to beneficiaries of superannuation funds
41B. References to dutiable property
42. Deceased estates
43. Marriage and domestic relationships—transfer of principal place of residence
43A. Residence requirement for section 43 exemption
43B. Variation of residence requirement for section 43 exemption
43C. Liability for duty if residence requirement for section 43 exemption not complied with
43D. Persons must notify Commissioner of change in circumstance—section 43 exemption
44. Breakdown of marriage and domestic relationships
45. Charities and friendly societies
45A. Health centres and services
47. Government bodies and diplomats
47A. Transfer to Victorian Rail Track
48. Bankruptcies and administrations
48A. Amalgamation of industrial organisations
49. Leases of residential sites in caravan parks
50A. Conversion of land use entitlements to different form of title
50B. References to dutiable property
51. Public rights of way
52. Government bodies
52A. Joint government enterprise—water saving projects
53. Defence service homes
54. Joint tenants and tenants in common
55. Equity release programs
56. Transfers of farms to relatives or charities
57. Subsequent transfer not dutiable if duty paid on lease
57A. Land sold initially to financial institution and natural person and then leased to natural person
57B. Land sold initially to financial institution and then re‑sold to natural person
57C. Land sold initially to financial institution and then leased to natural person
57D. Land sold initially to natural person, beneficial interest then transferred to financial institution
57E. Change of financial institution
57F. If the natural person dies
57H. What is a principal place of residence?
57I. What is a PPR transfer?
57J. Rates of duty for certain PPR transfers
57JA. Exemption or concession for certain first home buyers on PPR transfers
57JB. Requirements—first home buyers
57K. Residence requirement
57L. Variation of residence requirement
57M. Liability for duty if residence requirement not complied with
57N. Transferee to notify Commissioner of change in circumstances
58. Who is an eligible pensioner?
59. Eligible pensioner exemption or concession where dwelling exists at the time of transfer
60. Eligible pensioner exemption or concession where dwelling is constructed after transfer
60A. Election to receive eligible pensioner exemption/concession
61. Who is an eligible first home owner?
62. Eligible first home owner exemption or concession where dwelling exists at the time of transfer
63. Eligible first home owner exemption or concession where dwelling is constructed after transfer
63A. Temporary suspension of first home owner exemption or concession
63B. Election to receive eligible first home owner exemption/concession or additional first home owner grant
64. Double duty for false or misleading statements
65. Co-operatives and co-operative housing societies
66. Loans and temporary transfers
67. Nomineeing transactions—unquoted marketable securities
68. Share buy-backs
69. Reduction of duty—payment in non-Australian jurisdiction
69AB. Disqualifying interest
69AC. Primary production requirement
69AD. Exemption or concession for young farmers
69AE. Calculation of exemption or concession on transfer of single parcel of land or partial interest in single parcel of land
69AF. Calculation of exemption on transfer of multiple parcels and partial interests of land
69AG. Election to receive young farmer exemption/concession or principal place of residence concession
69AH. Liability for duty if primary production requirement not complied with
69AI. Farmer to notify Commissioner of change in circumstances
PART 6--TAX AVOIDANCE SCHEMES
69A. Imposition of duty
69B. What is a tax avoidance scheme?
69C. Anti-avoidance provision
69D. Misleading information
PART 1--INTRODUCTION AND OVERVIEW
70. Imposition of duty
PART 2--ACQUISITION OF INTERESTS IN CERTAIN LANDHOLDERS
71. Meaning of landholder
72. What are land holdings?
73. What does land include?
74. Effect of uncompleted agreements
75. Constructive ownership of land holdings—linked entities
76. Constructive ownership of land holdings—discretionary trusts
77. When does a liability for duty arise?
78. What is a relevant acquisition?
79. What are interests and significant interests in landholders?
80. How may an interest be acquired?
81. Acquisition of economic entitlement
82. Acquisition of control
83. Acquisition statements
84. When must duty be paid?
85. Who is liable to pay the duty?
86. How duty is charged on relevant acquisitions in private landholders
87. How duty is charged on relevant acquisitions in public landholders—concessional rate
88. How duty is charged on relevant acquisitions in public landholders—non‑concessional rate
89. Phasing-in of duty
89A. Reduction in marketable securities duty
89B. Conversion of a private unit trust scheme to a public unit trust scheme
89C. Conversion of a private company to a listed company
89E. Duty concession—anomalous duty outcome
89F. Duty concession—acquisitions securing the provision of finance
89G. Valuation of land holdings
89H. Maximisation of entitlements on distribution of land holdings
89I. Agreements for sale, transfer or purchase of land
89J. Re-purchase facilities—widely held trusts
89K. Re-purchase facilities—wholesale unit trust schemes
89L. Imposition of duty
89M. What is a tax avoidance scheme?
89N. Anti-avoidance provision
89O. Misleading information
89Q. Application for registration
89R. Registration of declared public unit trust schemes
89S. Registration of wholesale unit trust schemes
89T. Registration of imminent wholesale unit trust schemes
89U. Registration of declared wholesale unit trust schemes
89V. Duration of registration
89W. Reporting requirements
89X. Disqualifying circumstances for certain unit trust schemes
89Y. Cancellation of registration
PART 3--ENTITLEMENTS ARISING FROM CAPITAL REDUCTIONS OR RIGHTS ALTERATIONS
91. When does a liability for duty arise?
92. When must duty be paid?
93. Who is liable to pay the duty?
94. Entitlement to voting shares arising from capital reduction or rights alteration
95. Content of statement
96. Assessment of duty
PART 4--ALLOTMENT OF SHARES BY DIRECTION
97. Application of Part
98. When does a liability for duty arise?
99. When must duty be paid?
100. Who is liable to pay the duty?
101. Acquisition of shares by allotment
102. Allotment statement
103. Assessment of duty
PART 5--ACQUISITION OF LAND USE ENTITLEMENTSBY ALLOTMENT OF SHARES OR ISSUE OF UNITS
103A. When does a liability for duty arise?
103B. When must duty be paid?
103C. Who is liable to pay the duty?
103D. Acquisition of land use entitlement
103E. Form of statement
103F. Assessment of duty
104. Imposition of duty
105. When does a liability for duty arise?
106. Who is liable to pay the duty?
107. Statement on transfer of property
108. Assessment of duty
PART 1--INTRODUCTION AND OVERVIEW
125. Imposition of duty
125A. Hire of goods duty abolished from January 2007
126. What is a commercial hire business?
127. Hire of goods to which this Chapter applies—jurisdictional nexus
128. What are goods?
129. What is a hire of goods?
130. What is an equipment financing arrangement?
131. What form may a hire of goods take?
132. Exclusions from the definition of hire of goods
133. Special hiring agreements
134. What is the rate of duty?
135. What are hiring charges?
136. Payments exempted from hiring charges
137. Credit for duty paid in another Australian jurisdiction
138. Splitting or redirection of hiring charges (anti‑avoidance provision)
139. Ascertainment and disclosure of place of use of goods
PART 2--REGISTRATION OF COMMERCIAL HIRE BUSINESSES AND PAYMENT OF DUTY
140. Commercial hire businesses must be registered
141. Registration of commercial hire businesses
142. Cancellation of registration of commercial hire business
143. Register of commercial hire businesses
144. Duty base
145. Lodgement of returns and payment of duty
146. Statement of special hiring agreement
147. Lodgement of statement and payment of duty
PART 1--INTRODUCTION AND OVERVIEW
148. Imposition of duty
148A. Mortgage duty abolished from July 2004
149. What is a mortgage?
150. What is an advance?
151. Who is liable to pay the duty?
152. When does a liability arise?
153. When must duty be paid?
154. How is mortgage duty charged?
155. Extent mortgage is enforceable
156. Where is property located?
PART 2--CALCULATING THE AMOUNT SECURED BY A MORTGAGE
157. Secured amount
158. Contingent liabilities
159. Mortgages over property not wholly within Victoria
160. Advances secured by mortgage package
161. Stamping before advance
163. Exchange of information
164. Collection of duty and endorsement of instruments
165. Collateral securities
PART 3--DUTY CONCESSIONS
166. Refinancing of loans
167. Eligible mortgages under concession schemes
168. Exempt mortgages and supporting instruments
169. Mortgages associated with certain credit contracts
170. Farm machinery and commercial vehicles
171. Certain debentures and related instruments
172. Payment of duty on mortgages associated with debenture issues
173. Unregistered mortgages protected by caveats (anti-avoidance provision)
174. Stamping counterpart or collateral instrument if mortgage is lost, destroyed or cannot be produced
PART 1--INTRODUCTION AND OVERVIEW
175. Imposition of duty
PART 2--GENERAL INSURANCE
176. What is general insurance?
177. What is a premium in relation to general insurance?
178. When is a premium paid?
179. What duty is payable?
180. Who is liable to pay the duty?
181. Circumstances in which duty is payable by the insured person
182. Records to be kept
183. Refunds where premiums are returned
184. Who is an insurer?
185. Insurers must be registered
186. Application for registration
187. Cancellation of registration by the Commissioner
188. Cessation of business and cancellation of registration by the insurer
189. Register of insurers
190. Monthly returns and payment of duty
191. Recovery of duty by registered insurer
192. Application of Division
193. Schedule of Apportionment
194. Apportionment in practice
195. Apportionment between different types of insurance
196. What insurance is exempt from duty?
196A. Life insurance
196B. Life insurance policy riders
197. Effect on contract of insurance of failure to comply with this Chapter
PART 4--TRANSPORT ACCIDENT CHARGES
209. Imposition of duty
210. Who is liable to pay the duty?
211. Rate of duty
212. How is duty paid?
213. Refund of duty if transport accident charge is refunded
PART 1--INTRODUCTION AND OVERVIEW
214. Imposition of duty
215. Lodgement of statement of dutiable value
216. Who is liable to pay the duty?
217. When does duty become payable?
217A. Assessment of duty
218. What is the rate of duty?
219. What is the dutiable value of a motor vehicle?
220. Prohibition on registration of motor vehicles
229. Ownership by devolution of title and deceased estates
230. Special dealers—trading stock, demonstrator vehicles and driver education
231. Licensed motor car traders—trading stock, demonstrator vehicles and driver education
232. Applications by interstate licensed motor car traders
233. Primary producer vehicles
233AA. Mobile plant
233AB. Special purpose vehicles (type P)
233A. Transport for disabled, handicapped or injured
233B. Incapacitated person's vehicle
233C. Private vehicle used to convey incapacitated person
233D. Government or charitable vehicle used to convey incapacitated person
233E. Incapacitated war veteran's vehicle
233F. Fire fighting and emergency response vehicle
233G. Consular vehicle
233H. Repossessions and restorations
234A. Amalgamation of industrial organisations
234B. Financial sector (business transfer and group restructure)
235. Marriage and domestic relationships and their breakdown
236. Minors and trustees
237. Vehicles previously registered in the same name interstate
PART 4--DUTY ON CHANGE OF USE
238. Duty on statement of change of use
PART 5--REFUND OF DUTY
240. Entitlement to refund
PART 1--SALE OF CATTLE
241. Imposition of duty
242. What is the rate of duty?
243. What is the purchase money?
PART 2--SALE OF SHEEP AND GOATS
244. Imposition of duty
245. What is the rate of duty?
PART 3--SALE OF PIGS
246. Imposition of duty
247. What is the rate of duty?
248. What is the purchase money?
PART 4--REGISTRATION OF APPROVED AGENTS
248A. Registration of approved agents
248B. Commissioner to keep register of approved agents
PART 1--SECURITY FOR PAYMENT OF TAX
249. Security for payment of tax
PART 2--CORPORATE RECONSTRUCTIONS
250. What is a corporate group?
250A. What is an eligible transaction?
250B. Exemption for certain transactions arising out of corporate reconstruction
250C. Conditions of exemption
250D. Revocation of exemption
250DB. What is a corporate consolidation?
250DC. What is an eligible transaction?
250DD. Exemption for certain transactions arising out of corporate consolidation
250DE. Conditions of exemption
250DF. Revocation of exemption
250DG. Special provision in relation to landholder duty for private unit trust scheme consolidations
250DI. Exemption for relevant acquisitions
250DJ. Conditions of exemption
250DK. Revocation of exemption
250E. Part 5 of Taxation Administration Act 1997 not applicable
250F. Joint and severable liability for duty, penalty and interest
250G. Liability for duty
250H. Reassessment of duty
250I. Penalty for false or misleading application
250J. Penalty for failure to notify
250K. Remission of penalty
250M. Remission of interest
PART 3--MANAGED INVESTMENT SCHEMES
251. Managed investment schemes
PART 4--MORTGAGE-BACKED SECURITIES
251A. Mortgage-backed securities
251B. Instruments issued for the purpose of creating, issuing or marketing mortgage-backed securities
PART 1--STAMPING INSTRUMENTS
252. Provision of stamps
253. Limitation on use of designated stamps
254. Form of stamps to be used
255. Stamping of instruments
255A. Authentication of payment of duty using on-line duty payment system
256. When is an instrument duly stamped?
257. Adhesive stamps
258. Licences to deal in stamps
259. Refunds—spoiled and unused stamps
260. Reassessments—failed instruments
261. Instruments to be separately charged with duty in certain cases
262. Execution of instruments
263. Counterparts and replicas
PART 2--AUTHORISATION OF RETURNS SYSTEMS
264. Authorised persons
264A. Application for authorisation
264B. Conditions of authorisation
264C. Gazettal or service of notices
265. Endorsement of instruments by authorised persons
266. Payment of duty by authorised persons
267. Offset of overpaid amounts
268. Unauthorised endorsement
269. Registration of instruments
270. Registration of transfer of shares in private companies
271. Registration of transfer of units
272. Receipt of instruments in evidence
273. Valuation of property
274. Ascertainment of value of certain items
275. Impounding of instruments
276. Injunction to prevent unregistered businesses trading
277. First charge on land—foreign purchasers of residential property
278. Registration of charge
282. Payments from Consolidated Fund
286. Transitional provisions
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