Northern Territory Consolidated Acts

STAMP DUTY ACT 1978

TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY

   1.      Short title  
   2.      Commencement  
   4.      Interpretation  
   4A.     Unencumbered value  
   4AB.    Dutiable value  
   4AC.    Valuing certain interests in property  
   4B.     Tax avoidance schemes  
   4D.     Surrender of property amounts to conveyance in certain circumstances  
   4E.     Merger vesting of property  
   4F.     Exempt entities and uses  

   PART 2--STAMP DUTY

   5.      Imposition of duty  
   6.      Rate of duty  

   PART 3--LIABILITY TO DUTY

           Division 1--General

   9.      Time for lodgement of instrument etc.  
   9A.     Unstamped instruments not to be registered  
   9B.     Liability to duty in respect of instruments outside Territory  
   9C.     Copies of instruments  
   9D.     Instruments not fully executed may be lodged for assessment  
   10.     Duty on statutory corporations and Government Business Divisions  
   11.     Denotation of payment of duty  
   15.     Single instrument relating to multiple transactions  
   16.     Multiple instruments relating to a single transaction  
   17.     Stamping of counterparts or copies  
   17A.    Stamp duty on related instruments  

           Division 2--Exemptions for corporate re-constructions

   18.     Interpretation  
   19.     Exemption: interposing new corporation between existing corporation and its shareholders  
   20.     Exemption: conveyances and transfers between group corporations  
   21.     Meaning of group property in section 20  
   23.     Reassessment of duty  
   24.     Time for parties to give notice that reassessment required  
   25.     Application for ruling regarding proposed corporate re-construction  
   26.     Application for exemption regarding corporate re-construction  

           Division 3--Partnerships

   27.     Interpretation: partnership property and partnership interest  
   28.     Acquiring a partnership interest  
   29.     Value of partnership acquisition  
   29AA.   Value of partnership acquisition if change in membership of partnership by admission of one or more new partners  
   29A.    Value of partnership acquisition where merger of 2 or more partnerships  
   29B.    Reduction of dutiable value of dutiable property if conveyed to partner on retirement or dissolution of partnership  
   37.     Definitions  
   37A.    Life insurance and life insurance rider  
   38.     Imposition of duty on policies of insurance  
   39.     Australian insurers to be registered  
   40.     Register of Insurers  
   41.     Registration  
   42.     Returns in respect of insurance business  
   43.     Refund of duty for surrendered or cancelled insurance  
   44.     Insurer may recover duty from the insured person  
   44A.    Insurance granted, issued or renewed by overseas insurer  
   44B.    Agents and brokers taken to be acting for insurer  
   49A.    Application of Division  
   49B.    Schedule of Apportionment  
   49C.    Apportionment in practice  
   50.     Persons liable to pay duty  
   52A.    Computation of duty where 2 or more instruments  
   56A.    Refund or remission of duty if transaction does not proceed etc.  
   56BA.   Declaration of trust  
   56BAB.  Imposition of duty on addition or change of beneficiary under discretionary trust  
   56BAC.  Imposition of duty where change in beneficiary and trustee under discretionary trust  
   56BB.   Definitions  
   56BC.   Duty payable on call and put option  
   56BD.   Duty payable if neither option exercised  
   56BE.   Circumstances in which duty is not payable  
   56C.    Interpretation  
   56CA.   Arrangement relating to certain entitlement  
   56CAA.  Acquisition of interest by share transfer  
   56D.    Lodgement of statements by trustees  
   56K.    When statement to be lodged  
   56M.    Statement chargeable with duty  
   56N.    Corporation to which Division applies  
   56NA.   Linked entity  
   56NB.   Unencumbered value of land of corporation  
   56P.    Meaning of relevant acquisition  
   56Q.    Interest and significant interest in corporation  
   56R.    How dutiable value determined  
   56S.    Liability for duty  
   56T.    Unit trust schemes  
   56W.    Duty on a statutory and merger vesting of dutiable property  
   57.     Owner to pay duty  
   58.     Registrar not to register unless duty paid  
   59.     Assessment of duty payable on motor vehicle certificate of registration  
   59A.    Refund of duty if sale of motor vehicle cancelled  
   60.     How duty denoted  
   61.     Exemption to be claimed in declaration  
   83B.    Payment of duty on statement in absence of dutiable instrument  
   83C.    Stamping of other instruments related to same transaction  
   83E.    Aiding and abetting  

   PART 4--ASSESSMENT AND STAMPING OF INSTRUMENTS

   84.     Assessment of duty on instruments  
   85.     Retaining and impounding of instruments  
   86.     Creation of memorandum for the purpose of assessment  

   PART 5--EXEMPTIONS, CONCESSIONS AND REBATES

           Division 1--Family farming properties

   87.     Exemption from duty on conveyance of family farming property to family members, family companies or family trusts  

           Division 2--Home incentive schemes

   88.     Interpretation  
   88A.    Application of Division  
   89.     First home owner concession  
   89AA.   First home owner discount  
   89AAB.  Territory home owner discount  
   89AAC.  Entitlement if eligible for first home owner grant and Territory home owner discount  
   89A.    Senior, pensioner and carer concession  
   90.     Principal place of residence rebate  
   90AA.   Meaning of qualifying home on and after 13 May 2014  
   90A.    Reassessments in relation to first home owner grant and senior, pensioner and carer concession or principal place of residence rebate  
   90AB.   Reassessments in relation to first home owner grant and Territory home owner discount  
   90B.    No multiple concessions  

           Division 2A--Residential land conveyance

   90C.    Interpretation  
   90D.    Exemption for conveyance of residential land  

           Division 3--Property settlements on breakdown of relationship

   91.     Exemption from duty  

           Division 3A--Statutory trusts for sale or partition

   91A.    Vesting of dutiable property in statutory trust for sale or partition  
   91B.    Conveyance of property from statutory trust for sale to beneficial owner  

           Division 4--Managed investment schemes

   92.     Managed investment scheme conveyance  

           Division 5--Electric motor vehicle

   92A.    Concession for duty on registration of electric motor vehicle  

   PART 6--MISCELLANEOUS

   93.     Authorised stamps  
   94.     Forgery etc. of authorised stamp  
   95.     Regulatory offences  
   96.     Admissibility of unstamped instruments  
   97.     Former transitional provisions  
   97A.    Transitional provision (rates of duty)  
   97B.    Transitional provision (dutiable property)  
   98.     Regulations  

   PART 7--TRANSITIONAL MATTERS FOR REVENUE LEGISLATION AMENDMENT ACT 2009

   99.     Application  

   PART 8--TRANSITIONAL MATTERS FOR REVENUE AND OTHER LEGISLATION AMENDMENT ACT 2010

   100.    Definition  
   101.    Arrangement for provision of finance  
   102.    Increase in first home owner concession and principal place of residence rebate and new senior, pensioner and carer concession  
   103.    Extension of period for occupancy for entitlement to first home owner concession and principal place of residence rebate  
   104.    Acquisition of interest by transfer of shares  

   PART 9--TRANSITIONAL MATTERS FOR REVENUE LEGISLATION AMENDMENT ACT 2011

   105.    Occupancy requirements – Commissioner may reassess earlier conveyance  

   PART 10--TRANSITIONAL MATTERS FOR REVENUE AND OTHER LEGISLATION AMENDMENT ACT 2012

   106.    Changes to home incentive schemes under Part 5, Division 2  

   PART 11--TRANSITIONAL MATTERS FOR REVENUE AND OTHER LEGISLATION AMENDMENT ACT 2015

   107.    Definition  
   108.    Application of section 4A  
   109.    Changes to the definition of senior, pensioner and carer concession in section 88  
   110.    Changes to life insurance provisions  

   PART 12--TRANSITIONAL MATTERS FOR STAMP DUTY AMENDMENT (FIRST HOME OWNER DISCOUNT) ACT 2016

   111.    First home owner discount  

   PART 13--TRANSITIONAL MATTERS FOR STAMP DUTY AMENDMENT ACT 2016

   112.    Change to first home owner discount  
   113.    No multiple concessions  

   PART 14--TRANSITIONAL MATTERS FOR REVENUE LEGISLATION AMENDMENT ACT 2018

   114.    Changes to resource interest provisions  

   PART 15--TRANSITIONAL MATTERS FOR REVENUE LEGISLATION AMENDMENT ACT 2019

   115.    Transitional matters for Revenue Legislation Amendment Act 2019  

   PART 16--TRANSITIONAL MATTERS FOR STAMP DUTY AMENDMENT ACT 2023

   116.    Changes to dutiable property  
           SCHEDULE 1
           SCHEDULE 2
           ENDNOTES