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DUTIES ACT 1997 - SECT 163B

Exemption--break-up of marriages and other relationships

163B Exemption--break-up of marriages and other relationships

(1) An acquisition by a person of an interest in a landholder is an exempt acquisition--
(a) if the interest was acquired by the parties to a marriage that is dissolved or annulled, or in the opinion of the Chief Commissioner has broken down irretrievably, or by either of them, or by a child or children of either of them or a trustee of such a child or children, as a result of a transfer made in accordance with--
(i) a financial agreement made under section 90B, 90C or 90D of the Family Law Act 1975 of the Commonwealth that, under that Act, is binding on the parties to the agreement, or
(ii) an order of a court made under that Act, or
(iii) an agreement that the Chief Commissioner is satisfied has been made for the purpose of dividing matrimonial property as a consequence of the dissolution, annulment or breakdown of the marriage, or
(b) if the interest was acquired by the parties to a de facto relationship that has, in the opinion of the Chief Commissioner, broken down irretrievably, or by either of them, or by a child or children of either of them or a trustee of such a child or children, as a result of a transfer made in accordance with--
(i) a financial agreement made under section 90UB, 90UC or 90UD of the Family Law Act 1975 of the Commonwealth that, under that Act, is binding on the parties to the agreement, or
(ii) an order of a court made under that Act, or
(c) if the interest was acquired by the parties to a domestic relationship that has, in the opinion of the Chief Commissioner, been terminated, or by either of them, or by a child or children of either of them or a trustee of such a child or children, as a result of a transfer made in accordance with--
(i) an order of a court made under the Property (Relationships) Act 1984 , or
(ii) a termination agreement within the meaning of section 44 of the Property (Relationships) Act 1984 that has been certified in accordance with section 47 of that Act, or
Note :
"Domestic relationship" (defined in the Dictionary) has the same meaning as in the Property (Relationships) Act 1984 .
(d) to the extent that--
(i) for purposes of or ancillary to the acquisition of an interest referred to in paragraph (a), (b) or (c), the acquisition consists of the transfer of a share that is matrimonial property or relationship property to a person not a party to the relevant marriage or relationship, in order to comply with a requirement of or prescribed under the Corporations Act 2001 of the Commonwealth, or
(ii) the acquisition consists of a declaration of trust by the transferee of a share transferred as referred to in subparagraph (i) for the benefit of a party to the marriage or relationship.
(2) If--
(a) duty was paid on the acquisition of matrimonial property by the parties to a marriage or by either of them, or by a child or children of either of them or a trustee of such a child or children, and
(b) the interest acquired was acquired as a result of a transfer made in accordance with an agreement or order referred to in subsection (1) (a), and
(c) the marriage has been dissolved or annulled or has broken down irretrievably,
the person who paid the duty is entitled to a refund of it.
(3) If--
(a) duty was paid on the acquisition of relationship property by the parties to a de facto relationship or by either of them, or by a child or children of either of them or a trustee of such a child or children, and
(b) the interest acquired was acquired as a result of a transfer made in accordance with an agreement or order referred to in subsection (1) (b), and
(c) the de facto relationship has broken down,
the person who paid the duty is entitled to a refund of it.
(4) If--
(a) duty was paid on the acquisition of relationship property by the parties to a domestic relationship or by either of them, or by a child or children of either of them or a trustee of such a child or children, and
(b) the interest acquired was acquired as a result of a transfer made in accordance with an order or agreement referred to in subsection (1) (c), and
(c) the domestic relationship has been terminated,
the person who paid the duty is entitled to a refund of it.
(5) A party to a marriage, de facto relationship or domestic relationship may provide a declaration, in an approved form, to the Chief Commissioner to the effect that--
(a) in the case of a marriage--
(i) the party intends to apply for a dissolution or an annulment of the marriage, or
(ii) the parties to the marriage have separated, and there is no reasonable likelihood of cohabitation being resumed, or
(b) in the case of a de facto relationship or domestic relationship, the relationship has broken down or been terminated.
(6) The Chief Commissioner is required to have regard to any such declaration in exercising his or her functions under this section.
(7) Subsection (6) does not limit the functions of the Chief Commissioner under section 72 of the Taxation Administration Act 1996 .
(7A) This section applies in respect of vested bankruptcy property (within the meaning of the Family Law Act 1975 of the Commonwealth) of a party to a marriage or de facto relationship in the same way as it applies to matrimonial property or relationship property.
(8) In this section--

"marriage" includes a void marriage.

"matrimonial property" means property in relation to the parties to a marriage or of either of them (within the meaning of the Family Law Act 1975 of the Commonwealth), including any property treated as property in relation to the parties or of either of them as a result of an order made under that Act.

"party" to a marriage includes a person who was a party to a marriage that has been dissolved or annulled, in Australia or elsewhere.

"relationship property" --
(a) in relation to a de facto relationship, means property in relation to the parties to the de facto relationship or of either of them (within the meaning of the Family Law Act 1975 of the Commonwealth), including any property treated as property in relation to the parties or of either of them as a result of an order made under that Act, or
(b) in relation to a domestic relationship, means property of the parties to the relationship or of either of them.



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