DUTIES ACT 2008 (NO. 11 OF 2008) - SECT 11
DUTIES ACT 2008 (NO. 11 OF 2008) - SECT 11
11 . The term “dutiable transaction”
(1) Subject to
subsection (2), any 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
declaration of trust over dutiable property;
(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, or as a consequence of, 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 new dutiable property, on its creation, grant or issue;
(g) a
surrender of special dutiable property;
(h) a
trust acquisition or trust surrender;
(i)
a partnership acquisition;
(j) a
farm-in agreement.
(2) The following
transactions are not "dutiable transactions” —
(a) a
transaction the subject of which is a right if no consideration is paid, or
agreed to be paid, for the transaction;
(b) a
transfer of, or an agreement for the transfer of, a lease if no consideration
is paid, or agreed to be paid, for the transfer or agreement;
(c) a
transfer of, or an agreement for the transfer of, a security interest, if the
consideration for the transfer, or agreement, is equal to or greater than the
market value of the security interest;
(d) a
transaction the subject of which is a unit in a unit trust scheme;
(e) a
transaction prescribed as an excluded transaction for the purposes of this
section.