Northern Territory Numbered Acts Northern Territory Numbered ActsParts IV to XII
repeal, substitute
(1) The Commissioner must assess the duty payable on an instrument lodged for assessment.
(2) On payment of the amount of duty assessed (together with any interest and penalty tax), the Commissioner must stamp the instrument with a stamp indicating the payment of duty.
(3) An instrument is not to be stamped until the assessed duty (together with any interest and penalty tax) has been paid.
(4) If the Commissioner decides, on the assessment, that no duty is payable, the Commissioner may stamp the instrument with a stamp indicating that no duty is payable.
(1) The Commissioner may retain possession of an instrument lodged for assessment of duty until the assessment is completed and any duty payable (including interest and penalty tax) has been paid.
(2) The Commissioner may retain possession of a dutiable instrument seized in the course of an authorised investigation until an assessment is completed and any duty payable (including interest and penalty tax) has been paid.
(3) This section does not relieve the Commissioner from the obligation to produce the instrument before a court when required to do so by order or process of a court.
(1) If the Commissioner has reason to suspect that:
(a) a dutiable transaction has occurred; but
(b) no instrument has been lodged in relation to the transaction for the assessment of duty;
the Commissioner may create a memorandum of the transaction.
(2) The memorandum is to be assessed for duty as if it were a dutiable instrument relating to the dutiable transaction brought into existence on the date of the dutiable transaction and lodged for the assessment of duty under this Act on the date of its creation by the Commissioner.
(3) If:
(a) a motor vehicle registered under the Motor Vehicles Act is sold or disposed of; and
(b) the new owner does not apply to the Registrar for transfer of registration of the vehicle within the period required by that Act;
the Commissioner may create a memorandum and assess it for duty as the certificate of registration that might have been issued if an application for transfer of registration had been made as required.
(4) If a memorandum is created under subsection (3), the new owner of the vehicle is liable to interest and penalty tax on the basis that a default in the payment of the duty assessed on the memorandum occurred at the end or the period within which an application for transfer of registration should have been made.
(1) A conveyance of farming property is exempt from stamp duty if the Commissioner is satisfied, on an application for exemption, that:
(a) the main purpose of the conveyance is to pass, or facilitate the passing, of a farming property, or the benefit of a farming property, from one generation of a family to a later generation or between members of the same generation; and
(b) the conveyance is eligible for exemption from stamp duty under this section.
(2) A conveyance of farming property is eligible for exemption from stamp duty if the conveyor is a natural person who does not hold the property as trustee and the property is conveyed to one or more of the following:
(a) a member of the conveyor's family who will not hold the property as trustee;
(b) a company that will not hold the property as trustee if:
(i) all the shareholders are members of the conveyor's family; and
(ii) no shareholder holds or will hold any shares in the company as trustee;
(c) a person who will hold the property as trustee if:
(i) all the beneficiaries of the trust are members of the conveyor's family; and
(ii) the trust deed includes provisions, that cannot be altered, specifying that only members of the conveyor's family may be beneficiaries of the trust and no beneficiary may be the trustee of another trust.
(3) A conveyance of farming property is eligible for exemption from stamp duty if the conveyor is a family company that does not hold the property as trustee (the conveyor company ) and the property is conveyed to one or more of the following:
(a) a member of the same family as the shareholders of the conveyor company who will not hold the property as trustee;
(b) a family company that will not hold the property as trustee (the conveyee company ) if:
(i) the shareholders of the conveyor company and the conveyee company are all members of the same family; and
(ii) no shareholder of the conveyee company holds or will hold any shares in that company as trustee;
(c) a person who will hold the property as trustee if:
(i) the beneficiaries of the trust and the shareholders of the conveyor company are all members of the same family; and
(ii) the trust deed includes provisions, that cannot be altered, specifying that only members of the relevant family may be beneficiaries of the trust and no beneficiary may be the trustee of another trust.
(4) A conveyance of farming property is eligible for exemption from stamp duty if the conveyor is the trustee of a family trust (the conveyor trust ) and the property is conveyed to one or more of the following:
(a) a member of the family for which the conveyor trust is established who will not hold the property as trustee;
(b) a family company that will not hold the property as trustee if:
(i) the shareholders of the company and the beneficiaries of the conveyor trust are all members of the same family; and
(ii) no shareholder holds or will hold any shares in the company as trustee;
(c) a person who will hold the property as trustee of a family trust (the conveyee trust ) if:
(i) the beneficiaries of the conveyor trust and the conveyee trust are all members of the same family; and
(ii) the trust deed includes provisions, that cannot be altered, specifying that only members of the relevant family may be beneficiaries of the conveyee trust and no beneficiary may be the trustee of another trust.
(5) However, a conveyance is not eligible for exemption from stamp duty under this section:
(a) if the Commissioner is satisfied the conveyance arises from a scheme with the principal purpose of taking advantage of the benefit of the exemption from stamp duty; or
(b) if a conveyee does not intend to use the farming property solely or principally for farming purposes; or
(c) if the conveyance also conveys property that is not farming property; or
(d) if any prescribed condition is not complied with; or
(e) if the conveyance occurs within 5 years after the date of an earlier conveyance of the same, or part of the same, farming property for which an exemption was allowed under this section (or a corresponding previous enactment).
(1) In this Division:
"Australian citizen", see the First Home Owner Grant Act .
built – a home is taken to have been built on land if it is relocated, and affixed, to the land.
"first home owner concession" means a concession from the payment of duty on a conveyance of land equal to the lesser of:
(a) the total amount of duty assessed as payable on the conveyance; or
(b) the duty payable on a conveyance of land with a dutiable value of $350 000.
"home", see the First Home Owner Grant Act .
"period for occupancy" of a home means:
(a) if, as at the relevant time, the home has been built on the land – 12 months from the relevant time or a longer period approved by the Commissioner under this Division; or
(b) if, as at the relevant time, no home had been built on the land:
(i) 3 years from the relevant time or 12 months from completion of the building of the home (whichever expires first); or
(ii) a longer period approved by the Commissioner under this Division.
"permanent resident", see the First Home Owner Grant Act ;
"prescribed period" means:
(a) a continuous period of 6 months; or
(b) a shorter continuous period approved by the Commissioner under this Division;
"principal place of residence rebate" means a concession from the payment of duty on a conveyance of land equal to the lesser of:
(a) the total amount of duty assessed as payable on the conveyance; or
(b) $2 500.
"relevant interest" means:
(a) an interest (other than a non-conforming interest) that is a relevant interest under section 5 of the First Home Owner Grant Act ; or
(b) an interest in residential property in a State or another Territory of the Commonwealth that is a relevant interest (but not a non-conforming interest) under a law of that State or Territory corresponding to the First Home Owner Grant Act .
"relevant time" means the time when the instruments effecting or evidencing a conveyance of land are executed.
"residential property", see the First Home Owner Grant Act .
(2) If the Commissioner is satisfied that, at the relevant time, a person:
(a) is married but not cohabiting with the spouse to whom the person is married (the married spouse ); and
(b) has no intention of resuming cohabitation;
the married spouse is not to be regarded for the purposes of the application as the person's spouse.
(1) The conveyee or conveyees of land are entitled to the first home owner concession if, on an application for the concession, the Commissioner is satisfied that:
(a) the conveyee or each of the conveyees is a natural person; and
(b) the conveyee is, or at least one of the conveyees is, at least 18 years of age at the relevant time; and
(c) the conveyee, or at least one of the conveyees, is an Australian citizen or a permanent resident at the time of making the declaration mentioned in subsection (8); and
(d) no conveyee and no spouse of a conveyee at the relevant time has previously received the first home owner concession or a corresponding concession under an earlier enactment; and
(e) no conveyee, and no spouse of a conveyee at the relevant time, has previously had a relevant interest in a residential property that was occupied by the conveyee or spouse as a residence; and
(f) no conveyee has a beneficial interest in the land the subject of the conveyance; and
(g) the conveyee or conveyees will acquire the whole beneficial interest in the land the subject of the conveyance; and
(h) no conveyee will acquire an interest in the land in the capacity of a trustee; and
(i) there is a home on the land or a home will be built within 3 years after the relevant time and the conveyee or conveyees will occupy the home as their principal place of residence for the prescribed period commencing within the period for occupancy.
(2) If there are 2 or more conveyees and not all of the conveyees will be able to occupy a home on the land as their principal place of residence within the period for occupancy, but they would, but for that fact, be entitled to the first home owner concession, the Commissioner may authorise the concession if satisfied that:
(a) at least one of the conveyees will be able to occupy or commence to occupy a home on the land as his or her principal place of residence for the prescribed period commencing within the period for occupancy; and
(b) the other conveyee or conveyees will occupy the home as his, her or their principal place of residence for the prescribed period but there are special reasons why the occupancy cannot commence within the period for occupancy.
(3) If a conveyee or conveyees fail, or will fail, to occupy a home on the land as their principal place of residence:
(a) within the period for occupancy; or
(b) for the prescribed period in accordance with this section;
the conveyee or conveyees must, within 30 days after the date on which it first becomes apparent that the failure will occur, give written notice to the Commissioner of the failure or impending failure.
Maximum penalty: 50 penalty units.
(4) If a conveyee or conveyees fail to occupy a home on the land as their principal place of residence:
(a) within the period for occupancy; or
(b) for the prescribed period in accordance with this section;
the Commissioner must, even though the time limit for reassessment under the Taxation Administration Act may have passed, reassess duty on the conveyance on the basis that the conveyee or conveyees were not eligible for the first home owner concession unless, in the Commissioner's opinion, there are special reasons for not making the reassessment.
(5) If duty is reassessed under subsection (4), and duty (and any interest and penalty tax) payable on the reassessment is paid, then, for the purposes of any future application by the conveyee, or any of the conveyees, for the first home owner concession:
(a) the grant of the concession will be ignored; and
(b) the interest in residential property acquired under the conveyance on which duty was reassessed will be ignored.
(6) This section applies to the acquisition by a person, other than the Chief Executive Officer (Housing), of an interest in land under a scheme administered by the Chief Executive Officer (Housing) under section 22 or 24 of the Housing Act as if the person were acquiring 100% of the land or, if 2 or more persons are acquiring the interest, the persons were acquiring 100% of the land in the same proportions as they are acquiring the interest.
(7) If a person acquires land or an interest in land as guardian of a person under a legal disability, this section applies as if the person under the legal disability were:
(a) the conveyee of the land or interest; and
(b) the applicant for the first home owner concession; and
(c) if the concession is granted – the recipient of the concession.
(8) A person claiming the first home owner concession, and the person's spouse (if any), must give to the Commissioner a declaration, in the approved form, providing the information relating to the claim that the Commissioner requires.
(9) The Commissioner may exempt a conveyee from the requirement that the conveyee be at least 18 years of age at the relevant time if the Commissioner is satisfied that the conveyance does not form part of a scheme to circumvent limitations on, or requirements affecting, eligibility for or entitlement to a first home owner concession.
(10) If the Commissioner refuses to exempt a conveyee under subsection (9), the conveyee's acquisition of a relevant interest in residential property under the conveyance will be ignored for the purposes of a future application by the conveyee for the first home owner concession.
(11) The Commissioner may, if satisfied there are special reasons to do so:
(a) approve an extension of the period for occupancy; or
(b) approve a reduction (but not the complete elimination) of the prescribed period.
(1) The conveyee or conveyees of land are entitled to the principal place of residence rebate if, on application for the rebate, the Commissioner is satisfied that:
(a) the conveyee or each of the conveyees is a natural person; and
(b) the conveyee or conveyees are not entitled to a first home owner concession; and
(c) no conveyee has a beneficial interest in the land the subject of the conveyance; and
(d) the conveyee or conveyees will acquire the whole beneficial interest in the land the subject of the conveyance; and
(e) no conveyee will acquire an interest in the land in the capacity of a trustee; and
(f) there is a home on the land or a home will be built within 3 years after the relevant time and the conveyee or conveyees will occupy the home as their principal place of residence for the prescribed period commencing within the period for occupancy.
(2) If there are 2 or more conveyees and not all of the conveyees will be able to occupy a home on the land as their principal place of residence within the period for occupancy, but they would, but for that fact, be entitled to the principal place of residence rebate, the Commissioner may authorise the rebate if satisfied that:
(a) at least one of the conveyees will be able to occupy or commence to occupy a home on the land as his or her principal place of residence for the prescribed period commencing within the period for occupancy; and
(b) the other conveyee or conveyees will occupy the home as his, her or their principal place of residence for the prescribed period but there are special reasons why the occupancy cannot commence within the period for occupancy.
(3) If a conveyee or conveyees fail, or will fail, to occupy a home on the land as their principal place of residence:
(a) within the period for occupancy; or
(b) for the prescribed period in accordance with this section;
the conveyee or conveyees must, within 30 days after the date on which it first becomes apparent that the failure will occur, give written notice to the Commissioner of the failure or impending failure.
Maximum penalty: 50 penalty units.
(4) If a conveyee or conveyees fail to occupy a home on the land as their principal place of residence:
(a) within the period for occupancy; or
(b) for the prescribed period in accordance with this section;
the Commissioner must, even though the time limit for reassessment under the Taxation Administration Act may have passed, reassess duty on the conveyance on the basis that the conveyee or conveyees were not eligible for the principal place of residence rebate unless, in the Commissioner's opinion, there are special reasons for not making the reassessment.
(5) This section applies to the acquisition by a person, other than the Chief Executive Officer (Housing), of an interest in land under a scheme administered by the Chief Executive Officer (Housing) under section 22 or 24 of the Housing Act as if the person were acquiring 100% of the land or, if 2 or more persons are acquiring the interest, the persons were acquiring 100% of the land in the same proportions as they are acquiring the interest.
(6) If a person acquires land or an interest in land as guardian of a person under a legal disability, this section applies as if the person under the legal disability were:
(a) the conveyee of the land or interest; and
(b) the applicant for the principal place of residence rebate; and
(c) if the rebate is granted – the recipient of the rebate.
(7) A person claiming the principal place of residence rebate must give to the Commissioner a declaration, in the approved form, providing the information relating to the claim that the Commissioner requires.
(8) The Commissioner may, if satisfied there are special reasons to do so:
(a) approve an extension of the period for occupancy; or
(b) approve a reduction (but not the complete elimination) of the prescribed period.
(1) A conveyance of dutiable property between a person and the person's spouse or former spouse is exempt from duty if, within 12 months after the date of the conveyance, an order, with which the terms of the conveyance are consistent, is made by the Family Court for the distribution of property between the parties to the conveyance under Part VIII of the Family Law Act 1975 (Cth).
(2) If duty is paid on such a conveyance before it becomes exempt, the Commissioner must (subject to the Taxation Administration Act ) refund the duty.
(1) A managed investment scheme conveyance is not liable to ad valorem duty.
(2) Each of the following transactions is a managed investment scheme conveyance:
(a) a conveyance of dutiable property from a person as vendor to the custodian for a responsible entity of a registered scheme, where:
(i) the conveyance is made pursuant to an agreement for the conveyance of the dutiable property between the person as vendor and the responsible entity as purchaser; and
(ii) the dutiable property is acquired by the responsible entity as scheme property; and
(iii) the agreement has been stamped with ad valorem duty;
(b) a conveyance of dutiable property that is either from the responsible entity of a registered scheme to the custodian for that responsible entity or from the custodian of a responsible entity of a registered scheme to that responsible entity, where:
(i) the dutiable property is scheme property of that registered scheme; and
(ii) the conveyance is not part of an arrangement under which:
(A) the scheme property or an interest in the scheme property ceases to be scheme property; or
(B) the members of the registered scheme do not have the same trust interest in the scheme property after the conveyance of that property as they had immediately before the arrangement was entered into;
(c) a conveyance of dutiable property that is scheme property which is a consequence of the retirement of the responsible entity or custodian of a registered scheme or the appointment of a new responsible entity or custodian of the registered scheme, where the Commissioner is satisfied that:
(i) the only interest acquired by a person in relation to the property as a result of the conveyance is an interest acquired by the replacement or new responsible entity or custodian; and
(ii) the replacement or new responsible entity or custodian acquired that interest only because of its appointment as the responsible entity or custodian for the registered scheme.
(3) In this section:
"custodian" means a corporation appointed under section 601FB of the Corporations Act 2001 to hold the property of a registered scheme as agent for the responsible entity of the registered scheme.
"registered scheme", see the Corporations Act 2001.
"responsible entity", see the Corporations Act 2001.
"scheme property" means the dutiable property of a registered scheme held by a person as the responsible entity of the registered scheme or as a custodian for the responsible entity of the registered scheme.
(1) The Commissioner must decide the form of stamps ( authorised stamps ) for use under this Act.
(2) Equipment for affixing authorised stamps must be kept under the Commissioner's control and used only as directed by the Commissioner.
(1) A person must not:
(a) forge an authorised stamp; or
(b) dishonestly stamp an instrument with a stamp that could reasonably be taken to be an authorised stamp.
Maximum penalty: Imprisonment for 2 years.
(2) A person must not, without lawful authority or excuse, have possession of equipment capable of being used to forge an authorised stamp.
Maximum penalty: Imprisonment for 2 years.
An offence against any of the following provisions is a regulatory offence:
(a) section 9A;
(b) section 24;
(c) section 39;
(d) section 45;
(e) section 56K(6);
(f) section 57;
(g) section 59(5).
(1) A dutiable instrument that is not duly stamped is not admissible in evidence in any court in support or defence of a civil claim.
(2) However, the court may receive such an instrument in evidence if the party seeking to tender the instrument pays into court the duty payable on the instrument (together with any penalty).
(3) If duty is paid into court under subsection (2):
(a) the proper officer of the court must remit the payment to the Commissioner together with the instrument; and
(b) the Commissioner must stamp the instrument and return it to the proper officer of the court.
Despite the repeal of former transitional provisions (Parts IX to XII), the effect of those provisions is preserved so far as they may have continuing relevance.
The Administrator may make regulations under this Act.