(1) In this section,
unless the contrary intention appears —
arrangement means an instrument or an unwritten
arrangement;
chattels means goods, wares or merchandise, other
than exempt chattels, and includes an estate or interest in them;
dutiable means chargeable with duty under —
(a) item
4, 10, 14A, 15, 17 or 19 of the Second Schedule; or
(b) item
12(1) or (3) of the Second Schedule if —
(i)
the term of the lease, including any period for which the
lease may be renewed, exceeds, or is to exceed, 20 years; and
(ii)
any option to renew the lease is, or is to be,
exercisable by the lessor;
exempt chattels means —
(a)
goods, wares or merchandise referred to in item 2(7), (7a) or (7b) of the
Third Schedule;
(aa)
goods, wares or merchandise used solely or principally in connection with the
business of primary production (as defined in section 75D); or
(b) a
vehicle the transfer of the licence of which is chargeable with duty under
Part IIIC and item 14 or 6 of the Second Schedule or is exempt under item 9 of
the Third Schedule;
other property means property other than goods,
wares or merchandise, and includes an estate or interest in such property;
transfer includes convey, exchange, partition,
settle, give, vest, grant, release and renounce.
(1a) For the purposes
of this section a mining tenement (as defined in section 76) is an estate or
interest in property.
(2) If an instrument
—
(a)
transfers, or is or includes an agreement to transfer, or evidences the
transfer of, a chattel and other property; and
(b) is
dutiable in respect of the other property,
the instrument is
chargeable with duty in respect of the unencumbered value of the other
property plus the unencumbered value of the chattel.
(3) If —
(a) an
instrument —
(i)
transfers, or is or includes an agreement to transfer, or
evidences the transfer of, a chattel; and
(ii)
is one of 2 or more arrangements that together form, or
arise from, substantially one transaction, or one series of transactions,
relating to chattels and to other property;
and
(b) at
least one of the other arrangements mentioned in paragraph (a)(ii) transfers,
or is or includes an agreement to transfer, or evidences the transfer of,
other property and is dutiable,
the instrument
mentioned in paragraph (a) is chargeable with duty in respect of the
unencumbered value of the other property plus the unencumbered value of the
chattel.
(4) The duty payable
on an instrument referred to in subsection (3)(a) is to be reduced by any duty
paid in respect of the arrangement referred to in subsection (3)(b).
(5) For the purposes
of subsection (3)(a)(ii), if a person enters into arrangements —
(a)
within, or apparently within, 12 months of each other; and
(b) with
the same person (whether that person enters the arrangements alone or with the
same person or different persons),
it shall be presumed,
unless the Commissioner is satisfied to the contrary, that the arrangements
arose out of one transaction or one series of transactions.
[Section 70 inserted: No. 22 of 1998 s. 33;
amended: No. 28 of 2000 s. 4; No. 2 of 2003 s. 44; No. 66 of 2003 s. 28.]