Regulation-making power
253 Regulation-making power
The Executive may make regulations for this Act.
A regulation may prescribe offences for contraventions of a regulation and prescribe maximum penalties of not more than 10 penalty units for offences against a regulation.
Dictionary (see s 2A)
The Legislation Act contains definitions and other provisions relevant to this Act.
For example, the Legislation Act, dict, pt 1 defines the following terms:
ACAT
ACT
Australia
authorised deposit-taking institution
bankrupt or personally insolvent
child
civil partnership
civil union
commissioner for revenue
Corporations Act
doctor
document
external territory
in relation to
instrument (see s 14)
land.
acquires, an interest in a landholder, for part 3.2 (Acquisition of interests in certain landholders)—see section 84.
acquisition statement, for chapter 3 (Certain transactions treated as transfers)—see section 87 (1).
Act imposing duty means—
a corresponding Act; or
an Act to which the Taxation Administration Act applies.
application to register a motor vehicle means—
an application under the Vehicle Registration Act to register a motor vehicle; or
an application under the Vehicle Registration Act to transfer the registration of a motor vehicle.
approved means approved by the commissioner.
asset, for part 3.6 (Voluntary transfers under Financial Sector (Transfer and Restructure) Act 1999 (Cwlth))—see section 115A.
associated person—see section 77A.
Australian Securities Exchange means ASX Limited ACN 008 624 691.
bankrupt means bankrupt or personally insolvent.
business, for part 3.6 (Voluntary transfers under Financial Sector (Transfer and Restructure) Act 1999 (Cwlth))—see section 115A.
cancelled, for chapter 2 (Transactions concerning dutiable property)—see section 6.
chapter 3 property, in relation to a chapter 3 transaction, for chapter 3 (Certain transactions treated as transfers)—see section 76A.
chapter 3 transaction—see section 76.
charge includes impose.
commercial lease, for chapter 2 (Transactions concerning dutiable property)––see section 6.
commercial lease with premium, for chapter 2 (Transactions concerning dutiable property)––see section 6A.
commercial purposes, for chapter 2 (Transactions concerning dutiable property)––see section 6.
commissioner means the commissioner for revenue.
complying approved deposit fund means an entity that is a complying approved deposit fund in accordance with the Superannuation Industry (Supervision) Act 1993 (Cwlth), section 43.
complying superannuation fund—
means an entity that is—
a complying superannuation fund under the Superannuation Industry (Supervision) Act 1993 (Cwlth), section 42 or section 42A; or
an exempt public sector superannuation scheme under the Superannuation Industry (Supervision) Act 1993 (Cwlth), section 10 (1); and
includes—
a complying approved deposit fund; and
an eligible rollover fund.
consideration—see section 21.
corporation means a body corporate, whether incorporated in this jurisdiction or elsewhere.
corresponding Act means an Act of another Australian jurisdiction that corresponds to this Act.
corresponding law, in relation to a territory law, means a law of a State or another Territory that is similar, or has a similar effect, to that territory law.
cost, in relation to a lease—see section 136.
Crown lease—see the Land Titles Act 1925, dictionary.
declaration of trust, for chapter 2 (Transactions concerning dutiable property)—see section 6.
declared land sublease—see the Planning Act 2023, section 365 (1).
de facto relationship, for part 11.2 (Exemptions from duty—certain personal relationships)—see section 232E.
deferral arrangement—
for division 2.6A.1 (First home owner grant scheme and home buyer concession scheme)—see section 75AC (2); or
for division 2.6A.2 (Other duty deferral schemes)—see section 75AI (2).
demonstrator, for part 9.2 (Exemptions)—see section 208A.
determined rate, in relation to duty, means a rate determined by the Minister under the Taxation Administration Act, section 139 for the provision where the expression occurs.
discretionary trust means a trust under which the vesting of the whole or any part of the capital of the trust estate, or the whole or any part of the income from that capital, or both—
is required to be determined by a person either in respect of the identity of the beneficiaries, or the quantum of interest taken, or both; or
will occur if a discretion conferred under the trust is not exercised; or
has occurred but under which the whole or any part of that capital or the whole or any part of that income, or both, will be divested from the person or people in whom it is vested if a discretion conferred under the trust is exercised.
domestic relationship—see the Domestic Relationships Act 1994, section 3.
dutiable property—see section 10.
dutiable transaction—see section 7 (2).
dutiable value—
of a motor vehicle for part 9.1 (Imposition and rates of duty)—see section 203; and
of other dutiable property—see section 20.
duty deferral scheme, for division 2.6A.2 (Other duty deferral schemes)—see section 75AG (1).
eligible person—
for division 2.6A.1 (First home owner grant scheme and home buyer concession scheme)—see section 75; or
for a duty deferral scheme, for division 2.6A.2 (Other duty deferral schemes)—see section 75AG (2) (a).
eligible property, for division 2.6A.1 (First home owner grant scheme and home buyer concession scheme)—see section 75A.
eligible rollover fund means an entity that is an eligible rollover fund in accordance with the Superannuation Industry (Supervision) Act 1993 (Cwlth), section 242, and includes an entity the trustee of which is satisfied will be an eligible rollover fund within 12 months after the date when a liability to duty arises (or would otherwise arise).
eligible transaction, for a duty deferral scheme, for division 2.6A.2 (Other duty deferral schemes)—see section 75AG (2) (b).
entity, for part 3.2 (Acquisition of interests in certain landholders)—see section 78A.
exchanging members, for division 3.7.2 (Exemptions—‘top hatting’ arrangements)—see section 115I.
financial institution, for division 2.5.2A (Alternative finance transactions)—see section 64.
financial market—see the Corporations Act, section 9.
first executed, for an instrument (including a contract)—see section 243.
FS (TR) Act, for part 3.6 (Voluntary transfers under Financial Sector (Transfer and Restructure) Act 1999 (Cwlth))—see section 115A.
home buyer concession scheme, for division 2.6A.1 (First home owner grant scheme and home buyer concession scheme)—see section 75.
hospital means a recognised hospital within the meaning of the Health Insurance Act 1973 (Cwlth).
instrument includes a document and a written statement.
insurance includes assurance.
insurance intermediary—see the Insurance Contracts Act 1984 (Cwlth), section 11.
interest—
for this Act generally—includes an estate, an interest under a lease or a sublease, a proprietary right and a beneficial interest; and
in a landholder, for part 3.2 (Acquisition of interests in certain landholders)—see section 83.
international transport, in relation to freight, means the transport, in connection with trade or commerce, of the freight between—
a place in a foreign country; and
a place in—
another foreign country; or
Australia; or
an external Territory.
interposed trust, for division 3.7.2 (Exemptions—‘top hatting’ arrangements)—see section 115I.
land—
for this Act generally—includes a stratum; and
for part 3.2 (Acquisition of interests in certain landholders)—see section 80A.
landholder—see section 79.
landholding, for part 3.2 (Acquisition of interests in certain landholders)—see section 80.
land used for primary production means land used primarily for—
the cultivation of the land for the purpose of selling the produce of the cultivation; or
the maintenance of animals or poultry on the land for the purpose of selling them or their natural increase or bodily produce; or
the keeping of bees on the land for the purpose of selling their honey; or
a plant nursery; or
the propagation for sale of mushrooms, orchids or flowers; or
aquaculture.
land use entitlement means an entitlement to occupy land within the ACT conferred through an ownership of shares in a company or an ownership of units in a unit trust scheme, or a combination of a shareholding or ownership of units together with a lease or licence.
lease means—
a lease of land in the ACT or an agreement for a lease of land in the ACT; or
an agreement (for example, a licence) by which a right to use land in the ACT at any time and for any purpose is given to or acquired by a person.
lessee includes—
any assignee for the time being of the rights of the lessee under a lease; and
a person who has a right of the kind mentioned in the definition of lease, paragraph (b).
lessor includes a person who grants a right of the kind mentioned in the definition of lease, paragraph (b).
licensed vehicle dealer means a licensed dealer under the Sale of Motor Vehicles Act 1977, or the holder of a similar licence under a corresponding law.
life company—see the Life Insurance Act 1995 (Cwlth), schedule.
listed company means a company whose shares are quoted on any of the following exchanges:
the Australian Securities Exchange;
the London Stock Exchange;
the New York Stock Exchange;
the New Zealand Exchange;
an exchange that is a member of the World Federation of Exchanges;
an exchange prescribed by regulation.
listed trust means a unit trust scheme whose units are quoted on any of the following exchanges:
the Australian Securities Exchange;
the London Stock Exchange;
the New York Stock Exchange;
the New Zealand Exchange;
a stock exchange that is a member of the World Federation of Exchanges;
an exchange prescribed by regulation.
majority shareholder, in relation to a private company, means—
for a company the voting shares in which are not divided into classes—a person entitled to not less than 50% of those shares, and
for a company the voting shares in which are divided into classes—a person entitled to not less than 50% of the shares in one of those classes.
managed investment scheme means a managed investment scheme within the meaning of the Corporations Act, section 9 that complies with that Act, chapter 5C, and includes a public unit trust scheme.
market rent, for chapter 2 (Transactions concerning dutiable property)––see section 6.
market value, in relation to a motor vehicle, means the amount for which the motor vehicle might reasonably be sold, free of encumbrances, on the open market.
marriage includes a void marriage.
matrimonial property, of a marriage, means property of the parties to the marriage or of either of them.
mortgage means any charge on land created merely for securing a debt.
motor vehicle means a motor vehicle or trailer within the meaning of the Vehicle Registration Act, but does not include a caravan or camper trailer.
motor vehicle transfer application, for part 11.2 (Exemptions from duty—certain personal relationships)—see section 232E.
new motor vehicle means a motor vehicle that has not previously been registered under—
the Vehicle Registration Act or another territory law; or
a law of the Commonwealth, a State or another Territory.
partner—a person’s partner is either of the following:
the person’s spouse;
someone with whom the person has a domestic relationship.
partnership interest—see section 10 (1) (f).
party, to a marriage, includes a person who was a party to a marriage that has been dissolved or annulled, in Australia or elsewhere.
premium––for chapter 2 (Transactions concerning dutiable property)—see section 6.
primary production, for chapter 2 (Transactions concerning dutiable property)––see section 6.
private company means a company that is not a listed company.
property transferred, by a dutiable transaction—see section 8 (2).
public unit trust scheme means any of the following unit trust schemes:
a listed trust;
a widely held trust.
receiving body, for part 3.6 (Voluntary transfers under Financial Sector (Transfer and Restructure) Act 1999 (Cwlth))—see section 115A.
registered scheme—see the Corporations Act, section 9.
A registered scheme under the Corporations Act is a managed investment scheme that is registered under that Act, ch 5C.
relationship property, of a domestic relationship, means property of the parties to the relationship or of either of them.
relevant acquisition, in relation to a person, for part 3.2 (Acquisition of interests in certain landholders)—see section 86.
relevant period, for a relevant acquisition, for part 3.2 (Acquisition of interests in certain landholders)—see section 78.
rent reserved, for chapter 2 (Transactions concerning dutiable property)––see section 6.
residential lease means a lease granted for residential purposes only.
responsible entity—see the Corporations Act, section 9.
right, in relation to shares or units, means any right (whether actual, prospective or contingent) of a person to have shares or units issued by a company or trust to the person, whether or not on payment of money or for other consideration, but does not include a convertible note.
scheme includes—
any plan, action or conduct of a person; and
any trust, agreement, arrangement or other understanding between people, whether oral or in writing, whether express or implied and whether or not it is intended to be legally binding; and
any series or combination of schemes mentioned in paragraphs (a) and (b).
shares includes rights to shares.
significant interest, in a landholder—see section 83.
special disability trust—see the Social Security Act 1991 (Cwlth), section 1209L.
spouse party, for part 11.2 (Exemptions from duty—certain personal relationships)—see section 232E.
Taxation Administration Act means the Taxation Administration Act 1999.
tax avoidance scheme means a scheme by which a person obtains or seeks to obtain a reduction in, or exemption from, tax that would otherwise be payable and where it would be reasonable to conclude that the person entered into or carried out the scheme principally for the purpose of obtaining the reduction or exemption, having regard to—
the way in which the scheme was entered into or carried out; or
the form and substance of the scheme; or
the time when the scheme was entered into and the length of time during which it was carried out; or
the extent to which the scheme reduces the tax that would be otherwise payable; or
whether the scheme has resulted in, or can reasonably be expected to result in, a change in any person’s financial position, or in any other consequence for any person; or
the nature of any connection (whether of a business, family or any other nature) between the person and a person mentioned in paragraph (e).
time, of transfer of dutiable property—see section 8 (2).
trading stock, for part 9.2 (Exemptions)—see section 208A.
transaction, for part 11.2 (Exemptions from duty—certain personal relationships)—see section 232E.
transfer includes any of the following:
assignment;
exchange;
a buyback of shares in accordance with the Corporations Act, division 2J.1.2;
vesting of an interest in property under a law of the Territory, the Commonwealth, a State or another Territory, unless the interest does not exist before it is vested;
vesting of an interest in property under a court order, unless the interest did not exist before it is vested.
transferee, of dutiable property—see section 8 (2).
trustee includes—
a person who is a trustee under an implied or constructive trust; and
in relation to a deceased person—an executor of the will, or an administrator of the estate, of the deceased person; and
a receiver, guardian, committee or manager of the property of a person under a legal or other disability; and
a receiver or manager of the property of a company, or a liquidator of a company for the purpose of its winding-up; and
a person who holds an interest in a landholder for the benefit of another person; and
a person who may be required to exercise his or her voting power in relation to an interest in a landholder at the direction of another person.
unencumbered value—see section 22.
unit, in relation to a unit trust scheme, means—
a right or interest (whether described as a unit or a sub-unit or otherwise) of a beneficiary under the scheme; or
a right to any such right or interest.
unit trust scheme means any arrangements made for the purpose, or having the effect, of providing, for people having funds available for investment, facilities for the participation by them, as beneficiaries under a trust, in any profits, income or distribution of assets arising from the acquisition, holding, management or disposal of any property whatever under the trust.
Vehicle Registration Act means the Road Transport (Vehicle Registration) Act 1999.
A reference to an Act includes a reference to the statutory instruments made or in force under the Act, including a regulation (see Legislation Act, s 104).
voluntary transfer, for part 3.6 (Voluntary transfers under Financial Sector (Transfer and Restructure) Act 1999 (Cwlth))—see section 115A.
widely held trust means a unit trust scheme that has not less than 300 unit holders none of whom, individually or with an associated person, is entitled to more than 20% of the units in the trust, and for the purposes of this definition—
if a registered unit holder in a unit trust scheme holds units as a trustee for 2 or more trusts the unit holder is treated as a separate registered unit holder in relation to each of those trusts and the units held under each trust are to be treated as a separate unit holding; but
a trustee is not treated as a separate registered unit holder in relation to 2 or more trusts if, as separate registered unit holders in relation to those trusts, they would be associated persons.
This provision refers to the regulations (may make regulations
, a regulation
, prescribed by regulation
). Made under this Act:
- Duties Regulation 2023 · under s 253
This Act’s bill:Explanatory statementSecond reading speech
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