Northern Territory Numbered Acts Northern Territory Numbered Acts(1) Section 4(1), definitions adhesive stamp", "assessment, associated person , "cancellation", Commissioner , "conveyance", conveyee , court , "discretionary trust", duty , impressed stamp", "insurer , judge , lease , "non-resident", partnership interest , recognised financial market", "repealed Ordinances , "return", stamp duty , surrender of dutiable property , tax and this Act
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(2) Section 4(1)
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"associate", see subsection (2).
"authorised stamp" means a stamp approved by the Commissioner for use under this Act to denote the payment of duty (or that no duty is payable).
"beneficiary" includes an object of a discretionary trust.
brother / sister – a person is the brother or sister of another if they have one or both parents in common.
"change in control", of a corporation – a change in control of a corporation occurs when a person, or a group of associates, becomes able to exercise, or to control (directly or indirectly) the exercise of, a majority of the votes exercisable at meetings of the directors or shareholders of the corporation.
"change in control", of a trust includes the following:
(a) if a person has a power to appoint and revoke the appointment of the trustee:
(i) a change of, or a change in control of, the person who has the power; or
(ii) a variation in, or the transfer or some other disposition of, the power;
(b) a change of trustee, a change in control of a corporate trustee, or the appointment of an additional trustee;
(c) a change of, or a change in control of, a person in a position to make or influence (directly or indirectly) a decision to vest, or to refrain from vesting, an interest in the trust property in a beneficiary.
"conveyance" includes the following:
(a) the grant of property but not:
(i) the grant of a lease other than a convertible Crown lease; or
(ii) the grant of a patent;
(b) the transfer or assignment of property;
(c) the vesting of property in, or the accrual of property to, a person;
(d) the foreclosure of a mortgagor's equity of redemption in mortgaged property;
(e) a transaction that is taken to be, or treated as, a conveyance under this Act;
(f) an agreement to make a conveyance;
and includes an instrument effecting or evidencing a conveyance (including a decree, judgment or order of a court).
"conveyee" means a person to whom property is granted, transferred or assigned, in whom property is vested, or to whom property accrues under a conveyance.
"declaration of trust" means a declaration (other than a declaration by will or testamentary instrument) that property vested, or to be vested, in the declarant is, or is to be, held in trust and includes such a declaration whether made unilaterally or by agreement and whether made with or without the knowledge of the beneficiaries.
"discretionary trust" means a trust under which:
(a) the identity of a beneficiary, or the quantum of the interest in trust property to be taken by a beneficiary, is to be determined by the trustee or some other person; or
(b) an interest in trust property vests if a discretion conferred under the terms of the trust is not exercised; or
(c) an interest in trust property has vested but is liable, under the terms of the trust, to be divested on the exercise of a discretion by the trustee or some other person;
and includes a trust classified by regulation as a discretionary trust but does not include a trust solely for charitable purposes or a trust of a class excluded by regulation from the ambit of this definition.
"dutiable instrument" means an instrument:
(a) that is classified as a dutiable instrument in Schedule 1; or
(b) that is liable to duty under any other provision of this Act.
dutiable transaction – a transaction is a dutiable transaction if:
(a) a liability to ad valorem duty is imposed under this Act in respect of the transaction; or
(b) an instrument effecting, or evidencing, the transaction is liable to ad valorem duty under this Act; or
(c) the transaction was not effected by an instrument but, if it had been, the instrument would have been liable to ad valorem duty under this Act; or
(d) a statement or return is required under this Act in relation to the transaction and the statement or return is liable to ad valorem duty.
"dutiable value", see section 4AB.
"duty" means stamp duty.
"exempt instrument or transaction" means an instrument or transaction that:
(a) is exempt from duty under Schedule 2 or any other provision of this Act; or
(b) is exempted from duty under the regulations.
"family" means 2 or more persons connected with each other by family relationships.
"family company" means a company of which all shareholders are members of the same family.
"family relationship" means any of the following relationships:
(a) the relationship between a person and the person's spouse;
(b) the relationship between a person and the person's child or remoter lineal descendant;
(c) the relationship between a person and the child or remoter lineal descendant of the person's spouse;
(d) the relationship between a person and the person's brother or sister;
(e) the relationship between a person and the child or remoter lineal descendant of a brother or sister;
(f) the relationship between a person and the spouse of a person with whom a relationship exists under paragraph (b), (c), (d) or (e).
"family trust" means a trust established to benefit the members of a particular family and in which only members of the relevant family may be beneficiaries.
"farming land" means land, or an estate or interest in land, that is farming property.
"farming property" means property used solely or principally for farming purposes and includes an estate or interest in such property.
"farming purposes" means:
(a) the business of primary production; or
(b) a purpose classified by regulation as a farming purpose.
"insurer" means a person that grants, issues or renews, or intends to grant, issue or renew, a policy of insurance in respect of which duty is imposed.
"Interest", in property, includes the potential beneficial interest of an object of a discretionary trust.
"land-holding corporation" means a land-holding corporation as defined for Part 3, Division 8A and includes a unit trust scheme that is treated as a land-holding corporation for the purposes of that Division.
"lease" includes:
(a) a lease granted under an Act; and
(b) a sublease; and
(c) an agreement for a lease or sublease; and
(d) a franchise arrangement.
"legislation" includes subordinate legislation and an instrument made under principal or subordinate legislation.
"majority shareholder", of a corporation, means a person who has a substantial holding (as defined in section 9 of the Corporations Act 2001) related to voting shares carrying 50% or more of the votes attached to voting shares in the corporation.
"object", of a discretionary trust, means a person in whom an interest in the trust property might vest, or might be vested, under the terms of the trust.
"partnership acquisition", see section 27(2).
"partnership interest" means a partnership interest as defined in Part 3, Division 3.
"primary production" means:
(a) the growing or cultivation of trees, crops or other vegetation (including fungi) for sale or for sale of their produce; or
(b) the breeding, rearing or maintenance of living creatures for sale as food or for the production of skins, shells or bodily produce for sale.
"property" includes an estate or interest in property.
"recognised financial market" means a financial market that is a member of the World Federation of Exchanges or is declared by regulation to be a recognised financial market.
related – a corporation is related to another corporation if they are related corporations under section 50 of the Corporations Act 2001.
"responsible party", to a dutiable instrument or dutiable transaction, means the party responsible for the payment of duty on the instrument or transaction and includes, where a dutiable transaction is not effected by a dutiable instrument, a person who would have been liable to pay duty on a dutiable instrument if such an instrument had existed.
"spouse" includes de facto partner.
"stamp duty" means duty imposed under this Act or the former Stamp Duty Act .
"statutory vesting" means the vesting of property by or under legislation of the Commonwealth, a State or Territory of the Commonwealth or a jurisdiction outside Australia.
"trust property" includes both capital and income of a trust.
(3) Section 4(1), definition dutiable property , paragraph (j)(v), after "be issued"
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to the conveyee
(4) Section 4(3)
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(2) A person is an associate of another if:
(a) they are members of the same family; or
(b) they are related corporations; or
(c) one is a corporation and the other is a director of, or a shareholder in, the corporation; or
(d) they are both trustees of the same trust, or of different trusts with a common beneficiary, or one is a trustee and the other is a beneficiary of the same trust; or
(e) a chain of relationships can be traced between them under one or more of the above paragraphs.
(3) Legislation is taken to provide for the statutory vesting of property if it makes a person or body the successor in title to property of another person or body.
(4) An instrument is duly stamped if the payment of duty on the instrument or the non-liability of the instrument to duty is indicated by:
(a) an authorised stamp on the instrument; or
(b) an endorsement made on the instrument in a manner and form approved by the Commissioner.