DUTIES ACT 1999 (NO. 7 OF 1999)

Australian Capital Territory Numbered Acts

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DUTIES ACT 1999 (NO. 7 OF 1999)

TABLE OF PROVISIONS

Long Title

1. Short title
2. Commencement
3. Incorporation of Taxation Administration Act 1999
4. Interpretation
5. Duty a debt payable to the Territory

PART I--INTRODUCTION AND OVERVIEW

6. Interpretation
7. Imposition of duty on certain transactions concerning dutiable property
8. Imposition of duty on dutiable transactions that are not transfers
9. Form of a dutiable transaction
10. 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 written statement with Commissioner
16. When must duty be paid?
17. No double duty
18. Rate of duty
19. Concessions and exemptions from duty
20. What is the “dutiable value” of dutiable property?
21. What is the consideration for the transfer of dutiable property?
22. What is the “unencumbered value” of dutiable property?
23. Arrangements that reduce the dutiable value
24. Aggregation of dutiable transactions
25. Value of goods in certain transactions also involving other property
26. Apportionment—dutiable property and other property
27. Apportionment—business assets in this and other jurisdictions
28. Partnership interests
29. Partitions
30. Effect of alteration in purchase price

PART III--RATES OF DUTY

31. General rate
32. Shares, units and interests (marketable securities)
33. Certain business assets

PART IV--OFF-MARKET TRANSFERS OF MARKETABLE SECURITIES

34. Application of Division
35. SCH participant liable to pay duty
36. Record of SCH-regulated transfers
37. Particulars to be included by relevant SCH participant in transfer document
38. Relevant SCH participant's identification code equivalent to stamping
39. Returns to be lodged and duty paid
40. Registration as the securities clearing house
41. Monthly return
42. Returns to be kept by the SCH
43. Disclosure to the SCH of information
44. Application of Division 3
45. Payment of duty
46. Application for approval to pay duty by periodic return
47. Reduction of duty—payment in non-Australian jurisdiction
48. Certain transfers not chargeable with duty

PART V--SPECIAL PROVISIONS

49. Interim payment of duty
50. Cancelled agreements
51. Grant of certain Crown leases on surrender of development leases
52. Refund if Crown lease surrendered
53. Transfers arising from mortgages of land

PART VI--CONCESSIONAL RATES OF DUTY

54. Change in trustees
55. Transfer to custodian of managed investment scheme
56. Property vested in an apparent purchaser
57. Transfers back from a nominee
58. Property passing to beneficiaries
59. Establishment of a trust relating to unidentified property and non-dutiable property
60. Instrument relating to managed investment scheme
61. Instruments relating to superannuation
62. Transfer of property from one superannuation fund to another
63. Transfers to trustees or custodians of superannuation funds or trusts
64. Transfer of land to certain authorities and other bodies
65. Transfer of land in accordance with section 253Y of the Industrial Relations Act
66. Conveyances to prescribed persons
67. Conversion of property to unit title
68. Surrender and regrant of Crown lease
69. Deceased estates
70. Certain transfers of marketable securities
71. Bankruptcy or insolvency
72. Transfers related to certain personal relationships

PART VII--EXEMPTIONS

73. Transfers to a State, another Territory or a prescribed authority
74. Transactions relating to mortgages
75. Marketable securities

PART I--PRELIMINARY

76. Interpretation
77. Imposition of duty

PART II--ACQUISITION OF INTERESTS IN CERTAIN LANDHOLDERS

78. Interpretation
79. When is a private corporation a landholder?
80. Landholdings of private corporations
81. Constructive ownership of landholdings and other property: subsidiaries
82. Constructive ownership of landholdings and other property: discretionary trusts
83. What are “interests” and “majority interests” in private corporations?
84. How may an interest be “acquired”?
85. When does a liability for duty arise?
86. What is a “relevant acquisition”?
87. Acquisition statements
88. When must duty be paid?
89. Who is liable to pay the duty?
90. How duty is charged on relevant acquisitions
91. Transactions subject to prescribed duty
92. Maximisation of entitlements on distribution of property
93. Valuation of property
94. Agreements for sale or conveyance of land
95. Duty concession—acquisitions securing financial accommodation

PART III--ENTITLEMENTS ARISING FROM CAPITAL REDUCTIONS OR ALTERATIONS OF RIGHTS

96. Interpretation
97. When does a liability for duty arise?
98. When must duty be paid?
99. Who is liable to pay the duty?
100. Entitlement to voting shares arising from capital reduction or rights alteration
101. Form of statement
102. Assessment of duty

PART IV--ACQUISITION OF LAND USE ENTITLEMENTS BY ALLOTMENT OF SHARES OR ISSUE OF UNITS

103. When does a liability for duty arise?
104. When must duty be paid?
105. Who is liable to pay the duty?
106. Acquisition of land use entitlement
107. Form of statement
108. Assessment of duty

PART V--ALLOTMENT OF SHARES BY DIRECTION

109. Application of Part
110. When does a liability for duty arise?
111. When must duty be paid?
112. Who is liable to pay the duty?
113. Acquisition of shares by allotment
114. Allotment statement
115. Assessment of duty

PART I--PRELIMINARY

116. Interpretation
117. Presumptions regarding broking

PART II--LIABILITY FOR DUTY

118. Imposition of duty
119. Exemptions

PART III--RATES OF DUTY

120. Three rates
121. Duty at general rate
122. Marketable securities held on broker's own account
123. Marketable securities held on account of options traders and futures brokers
124. Marketable securities held on account of warrant-issuers
125. Additional duty on marketable securities held otherwise than for short terms
126. Low exercise price options

PART IV--RECORDS OF TRANSFERS

127. Records of sales, purchases and transactions—generally
128. Records of sales, purchases and transactions—options traders, futures brokers and warrant-issuers
129. Lodgment of returns and payment of duty by brokers
130. Lodging of returns—registered independent options traders, futures brokers and warrant-issuers

PART VI--MISCELLANEOUS

131. Endorsement of transfer as to payment of duty
132. Recovery of duty by broker from vendor or purchaser

PART I--PRELIMINARY

133. Interpretation

PART II--LIABILITY FOR DUTY

134. Imposition of duty
135. How duty is charged on a lease instrument
136. What is the “cost” of a lease?
137. Splitting or redirection of cost of franchise arrangement
138. Who is liable to pay the duty?
139. When must the duty be paid?

PART III--RATES OF DUTY

140. General rate
141. Rates of duty on certain long-term leases
142. Exemption from duty and nominal duty

PART IV--UNASCERTAINABLE LEASE COSTS

143. Operation of Part
144. Estimate and subsequent adjustment
145. CPI method
146. Quantification of lessee's improvements

PART V--MISCELLANEOUS

147. Percentage of value of additions or improvements
148. Reassessment of duty—early termination
149. Reassessment of duty—reduction of cost
150. Exemptions

PART I--PRELIMINARY

151. Interpretation
152. What is a “hire of goods”?
153. Exclusions from the definition of “hire of goods”
154. What form may a hire of goods take?
155. What are “hiring charges”?
156. Payments exempted from “hiring charges”
157. Hire of goods to which this Chapter applies—jurisdictional nexus

PART II--IMPOSITION AND RATES OF DUTY

158. Imposition of duty
159. Rates of duty
160. Credit for duty paid in another Australian jurisdiction
161. Splitting or redirection of hiring charges
162. Ascertainment and disclosure of place of use of goods

PART III--ARRANGEMENTS APPLICABLE TO PERSONS ENGAGED IN THE BUSINESS OF HIRING OUT GOODS

163. Interpretation
164. Application of Part
165. Commercial hire businesses to be registered
166. Registration of commercial hire businesses
167. Cancellation of registration of commercial hire business
168. Duty base
169. Lodgment of returns and payment of duty
170. Returns of related bodies corporate

PART IV--ARRANGEMENTS APPLICABLE TO PERSONS OTHER THAN THOSE ENGAGED IN THE BUSINESS OF HIRING OUT GOODS

171. Statement of transaction
172. Lodgment of statement and payment of duty
173. Method of calculating total hiring charges if they are not readily ascertainable
174. Liability for duty

CHAPTER 8--INSURANCEPART I--PRELIMINARY

175. Interpretation
176. When is a premium “paid”?

PART II--GENERAL INSURANCE

177. Imposition of duty
178. Rate of duty
179. Who is liable to pay the duty?
180. Circumstances in which duty is payable by the insured person
181. Records to be kept
182. Refunds where premiums are returned

PART III--LIFE INSURANCE

183. Imposition of duty
184. Obligation to make out and execute a policy of life insurance
185. Rates of duty
186. Who is liable to pay the duty?
187. Circumstances in which duty is payable by the insured person
188. Refund on cancellation of policy of life insurance

PART IV--PAYMENT OF DUTY BY INSURERS

189. Insurers to be registered
190. Application for registration
191. Cancellation of registration by the Commissioner
192. Cessation of business and cancellation of registration by an insurer
193. Register of insurers
194. Monthly returns and payment of duty
195. Recovery of duty by registered insurer

PART V--APPORTIONMENT

196. Application of Division
197. Object of Division
198. Schedule of Apportionment
199. Apportionment in practice
200. Apportionment between different types of insurance

PART VI--EXEMPT INSURANCE

201. Insurance that is exempt from duty

PART VII--MISCELLANEOUS

202. Effect on contract of insurance of failure to comply with this Chapter

PART I--IMPOSITION AND RATES OF DUTY

203. Interpretation
204. Imposition of duty
205. Lodgment of statement of dutiable value
206. Who is liable to pay the duty?
207. When does duty become payable?
208. Rate of duty

PART II--EXEMPTIONS

209. Government vehicles
210. Hospitals, schools and charitable organisations
211. Certain disabled persons
212. Successors of deceased persons
213. Vehicles transferred pursuant to certain court orders and agreements
214. Motor dealers—demonstrator vehicles and trading stock
215. Organisations registered under Industrial Relations Act
216. Repossessed motor vehicles
217. Veteran, vintage and historic vehicles
218. Avoidance of double duty—duty paid in a corresponding Australian jurisdiction
219. Reassessment of duty—repossession of stolen motor vehicle

PART III--MISCELLANEOUS

220. Interpretation
221. Prerequisites for registration
222. Certificates of exemption
223. Registrar's returns
224. Rectification of errors in registration
225. Refund of duty on cancellation of sale
226. Certificates as evidence
227. Duplicates and counterparts
228. Replicas
229. Minimum amount of duty
230. Intergenerational rural transfers
231. Specialised agencies
232. Members of a group of corporations

CHAPTER 12--MISCELLANEOUSPART I--STAMPING INSTRUMENTS

233. Impressed stamps
234. Stamping of instruments
235. Duly stamped instruments
236. Stamping duplicates or counterparts of instruments
237. Stamping instruments if no duty chargeable
238. Stamps defaced or removed
239. Fraudulent use of stamps
240. Possession of counterfeiting equipment
241. Illegal stamping
242. Instruments to be separately charged with duty in certain cases
243. Execution of instruments
244. Stamping of instruments after execution
245. Stamping taken to constitute an assessment
246. Deferred payments for certain stamped instruments

PART II--ENFORCEMENT

247. Registration of instruments
248. Registration of transfers of shares
249. Registration of transfers of units
250. Receipt of instruments in evidence
251. Valuation of property

PART III--MISCELLANEOUS

252. Objections and review of decisions
253. Regulations

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