Definitions
3 Definitions
In this Act—
S. 3(1) def. of acquisition statement amended by No. 38/2012 s. 6(a).
acquisition statement, in Part 2 of Chapter 3, means a statement referred to in section 83;
advance, in Chapter 7, has the meaning given by section 150;
allotment statement, in Part 4 of Chapter 3, means a statement referred to in section 101;
approved means approved by the Commissioner;
S. 3(1) def of approved agent inserted by No. 84/2008 s. 10.
approved agent means a person registered as an approved agent under section 248A;
S. 3(1) def. of assets inserted by No. 18/2023 s. 3.
assets, in relation to a sub-fund of a CCIV, has the meaning given by section 1233H of the Corporations Act;
S. 3(1) def. of associated person amended by Nos 44/2001 s. 3(Sch. item 32.1(a)), 46/2004 s. 3(1)(a)–(c), 38/2012 s. 4(1)(b).
associated person means a person who is associated with another person in accordance with any of the following provisions—
persons are associated persons if they are related persons;
natural persons are associated persons if they are partners in a partnership to which the Partnership Act 1958 applies;
companies are associated persons if—
there are minority shareholders common to each company who, if their interests were aggregated, would be majority shareholders in each company; or
any majority shareholder or relative is a majority shareholder in each company;
companies are associated persons if the shares in the companies are "stapled", in that they are unable to be traded other than as if they together represented a single security;
trustees are associated persons if any person is a beneficiary common to the trusts (not including a public unit trust scheme) of which they are trustees;
a company and a trustee are associated persons if the company or a related body corporate of the company is a beneficiary of the trust (not including a public unit trust scheme) of which the trustee is a trustee;
a company and the trustee of a unit trust scheme are associated persons if their shares and units are "stapled", in that they are unable to be traded other than as if they together represented a single security;
trustees of unit trust schemes are associated persons if the units in each of the unit trust schemes are "stapled", in that they are unable to be traded other than as if they together represented a single security;
a qualified investor and a private company are associated persons if the qualified investor is a majority shareholder in the private company;
a qualified investor and the trustee of a private unit trust scheme are associated persons if the qualified investor holds 20% or more of the units in the private unit trust scheme;
trustees are associated persons if one of the trustees is a beneficiary of the trust (not including a public unit trust scheme) of which the other trustee is a trustee;
persons are associated persons if one of those persons is an associated person of a person of whom the other of those persons is an associated person (including a person that is an associated person of the other of those persons because of one or more other applications of the paragraphs in this definition);
and, for the purposes of Part 2 of Chapter 3, a public company and a subsidiary of a public company are taken to be associated persons;
S. 3(1) def. of associated transaction inserted by No. 38/2012 s. 4(1)(a).
associated transaction, in relation to the acquisition of an interest in a landholder by a person, means an acquisition of an interest in the landholder by another person in circumstances in which—
those persons are acting in concert; or
the acquisitions form, evidence, give effect to or arise from substantially one arrangement, one transaction or one series of transactions;
S. 3(1) def. of ASX inserted by No. 28/2011 s. 20(1)(a).
ASX means ASX Limited (A.C.N. 008 624 691);
S. 3(1) def. of Australian register amended by No. 9/2002 s. 3(Sch. item 4.1(a)).
Australian register has the same meaning as in the Corporations Act;
S. 3(1) def. of Australian Stock Exchange substituted by No. 46/2001 s. 3(1)(b), repealed by No. 28/2011 s. 20(1)(b).
* * * * *
S. 3(1) def. of authorised deposit-taking institution inserted by No. 46/2001 s. 3(1)(a).
authorised deposit-taking institution has the same meaning as in the Banking Act 1959 of the Commonwealth;
S. 3(1) def. of business insurance inserted by No. 18/2023 s. 20, amended by No. 22/2024 ss 3(1)(a), 4.
business insurance means general insurance that relates to one or more of the following classes of business—
aviation;
cyber;
directors and officers;
employers' liability;
fire and industrial special risks;
marine;
public and product liability;
professional indemnity;
a class of business declared under subsection (2A)(a)—
but does not include a kind of insurance excluded under subsection (2A)(b);
calf means any cattle less than 6 weeks of age;
S. 3(1) def. of cattle amended by No. 67/2015 s. 3.
cattle means bull, cow, ox, steer, heifer, bison or buffalo;
S. 3(1) def. of change of use inserted by No. 16/2024 s. 36.
change of use, in relation to tax reform scheme land, has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;
charge includes impose;
S. 3(1) def. of class of business inserted by No. 18/2023 s. 20, substituted by No. 22/2024 s. 3(1)(b).
class of business means a class of business defined in a prudential standard determined under section 32 of the Insurance Act 1973 of the Commonwealth;
S. 3(1) def. of collateral mortgage inserted by No. 46/2001 s. 3(1)(a), amended by No. 79/2001 s. 3.
collateral mortgage means a mortgage that secures all or part of the same amount as another mortgage, security instrument or mortgage package that has been duly stamped under this Act or a corresponding Act;
commercial hire business has the meaning given by section 126;
commercial vehicle means—
a motor vehicle or trailer within the meaning of the Road Safety Act 1986 constructed or adapted principally for the carriage of goods but does not include a motor vehicle of the kind known as a utility, a station wagon or a panel van; or
a vehicle without motive power of its own and constructed or adapted principally for the carriage of goods and for being drawn by a motor vehicle within the meaning of that Act;
Commissioner means the Commissioner of State Revenue referred to in section 62 of the Taxation Administration Act 1997;
S. 3(1) def. of compliance plate inserted by No. 26/2015 s. 3(a).
compliance plate means a plate authorised to be placed on a vehicle, or taken to have been placed on a vehicle, under the Motor Vehicle Standards Act 1989 of the Commonwealth;
complying approved deposit fund means an entity that is a complying approved deposit fund in accordance with section 43 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth;
S. 3(1) def. of complying super-annuation fund amended by No. 46/2001 s. 3(1)(c).
complying superannuation fund means an entity that is a complying superannuation fund in accordance with section 42 or 42A of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth and an exempt public sector superannuation scheme and in section 40 includes a complying approved deposit fund and an eligible rollover fund;
S. 3(1) def. of controlling interest inserted by No. 26/2015 s. 14.
controlling interest has the meaning given by section 3A;
S. 3(1) def. of co-operative amended by No. 9/2013 s. 42(Sch. 2 item 7(1)).
co-operative has the same meaning as in the Co‑operatives National Law (Victoria);
co-operative housing society has the same meaning as in the meaning of the Co‑operative Housing Societies Act 1958;
S. 3(1) def. of corporate collective investment vehicle or CCIV inserted by No. 18/2023 s. 3.
corporate collective investment vehicle or CCIV has the same meaning as in the Corporations Act;
corporation means a body corporate, whether incorporated in this State or elsewhere;
corresponding Act means an Act of another State or of a Territory corresponding to this Act;
S. 3(1) def. of cost repealed by No. 48/2001 s. 5(a).
* * * * *
counterpart includes a duplicate;
Crown leasehold means a lease under the Land Act 1958 or any other Act or enactment in respect of which a Crown grant in fee-simple is by law directed or authorised to be made to the lessee on payment of all sums (whether referred to as rent or otherwise) reserved by the lease and on compliance with the other covenants of the lease;
S. 3(1) def. of defacto spouse repealed by No. 27/2001 s. 3(Sch. 1 item 2.1(b)).
* * * * *
S. 3(1) def. of demonstrator vehicle inserted by No. 71/2004 s. 4.
demonstrator vehicle means a motor vehicle that is used exclusively for the purpose of sale of another vehicle of the same class;
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 to be 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 persons in whom it is vested if a discretion conferred under the trust is exercised;
S. 3(1) def. of domestic partner inserted by No. 27/2001 s. 3(Sch. 1 item 2.1(a)).
domestic partner of a person means a person with whom the person is in a domestic relationship;
S. 3(1) def. of domestic relationship inserted by No. 27/2001 s. 3(Sch. 1 item 2.1(a)), substituted by No. 12/2008 s. 73(1)(Sch. 1 item 17.1), amended by No. 4/2009 s. 37(Sch. 1 item 10.1).
domestic relationship means—
a registered domestic relationship; or
a relationship between two persons who are not married to each other but who are living together as a couple on a genuine domestic basis (irrespective of gender);
dutiable property has the meaning given by section 10;
S. 3(1) def. of dutiable proportion inserted by No. 46/2001 s. 3(1)(a).
dutiable proportion, for a mortgage, means the proportion of the amount secured by the mortgage worked out under section 159;
dutiable transaction has the meaning given by section 7(2);
dutiable value—
of dutiable property has the meaning given by section 20;
of a motor vehicle has the meaning given by section 219;
S. 3(1) def. of economic entitlement inserted by No. 38/2012 s. 4(1)(a), substituted by No. 17/2019 s. 9, amended by No. 50/2024 s. 3(a).
economic entitlement—
in Part 4B and Division 9 of Part 5 of Chapter 2, has the meaning given by section 32XC(1); and
in Part 2 of Chapter 3, has the meaning given by section 81(2);
S. 3(1) def. of eligible cardholder inserted by No. 18/2023 s. 10(a).
eligible cardholder has the meaning given by section 58;
eligible first home owner has the meaning given by section 61;
S. 3(1) def. of eligible pensioner repealed by No. 18/2023 s. 10(b).
* * * * *
eligible rollover fund means an entity that is an eligible rollover fund in accordance with section 242 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth and includes an entity the trustee of which is satisfied will be an eligible rollover fund within 12 months after the date on which a liability to duty arises (or would otherwise arise);
S. 3(1) def. of ELN inserted by No. 69/2013 s. 4.
ELN means ELN within the meaning of the Electronic Conveyancing National Law (Victoria);
S. 3(1) def. of entitled repealed by No. 33/2007 s. 3.
* * * * *
S. 3(1) def. of entry date inserted by No. 50/2024 s. 3(b).
entry date, in relation to tax reform scheme land, has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;
S. 3(1) def. of entry interest inserted by No. 16/2024 s. 36, substituted by No. 48/2025 s. 24.
entry interest has the meaning given by section 3AA;
S. 3(1) def. of entry transaction inserted by No. 16/2024 s. 36, amended by No. 50/2024 s. 3(c).
entry transaction has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;
S. 3(1) def. of equivalent exchange inserted by No. 38/2012 s. 4(1)(a).
equivalent exchange means a recognised stock exchange operating in Australia which imposes, as a minimum, the requirements set out in subsection (4A) on an entity applying for quotation of its securities on the relevant market;
execute, in relation to an instrument not under seal, means sign;
farm machinery means—
a harvester, binder, tractor, plough or other agricultural implement; or
a boat;
fishing equipment;
any other goods of a class commonly used for the purposes of primary production that are determined by the Commissioner to be farm machinery for the purposes of sections 132(j) and 170—
where the goods are acquired for the purposes of primary production;
S. 3(1) def. of financial institution inserted by No. 71/2004 s. 4, amended by No. 9/2013 s. 42(Sch. 2 item 7(1)).
financial institution means—
an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth; or
a co-operative within the meaning of the Co‑operatives National Law (Victoria); or
a co-operative housing society within the meaning of the Co-operative Housing Societies Act 1958; or
a body approved by the Governor in Council by Order published in the Government Gazette;
S. 3(1) def. of foreign corporation inserted by No. 26/2015 s. 14.
foreign corporation means—
a corporation that is incorporated outside Australia; or
a corporation in which one of the following persons has a controlling interest—
a foreign natural person;
another foreign corporation;
the trustee of a foreign trust;
S. 3(1) def. of foreign natural person inserted by No. 26/2015 s. 14, amended by No. 48/2025 s. 21.
foreign natural person means a natural person who is not any of the following—
an Australian citizen within the meaning of the Australian Citizenship Act 2007 of the Commonwealth;
the holder of a permanent visa within the meaning of section 30(1) of the Migration Act 1958 of the Commonwealth;
a New Zealand citizen who is a resident of Australia within the meaning of section 3K;
S. 3(1) def. of foreign purchaser inserted by No. 26/2015 s. 14.
foreign purchaser means a transferee (for the purposes of Chapter 2) or a person who makes a relevant acquisition (for the purposes of Chapter 3), and that transferee or person is—
a foreign natural person; or
a foreign corporation; or
the trustee of a foreign trust;
S. 3(1) def. of foreign trust inserted by No. 26/2015 s. 14.
foreign trust means a trust in which one of the following persons has a substantial interest in the trust estate—
a foreign corporation;
a foreign natural person;
another person that holds the substantial interest as trustee of another foreign trust;
friendly society means a body that was a society within the meaning of the Friendly Societies (Victoria) Code immediately before the transfer date within the meaning of the Financial Sector Reform (Victoria) Act 1999 or is a friendly society for the purposes of the Life Insurance Act 1995 of the Commonwealth;
general insurance has the meaning given by section 176;
S. 3(1) def. of general insurer repealed by No. 40/2014 s. 3(b).
* * * * *
S. 3(1) def. of green car inserted by No. 17/2019 s. 16, amended by No. 47/2020 s. 3.
green car means a passenger car that is of a model that has combined tailpipe carbon dioxide emissions that do not exceed 120 grams per kilometre;
GST has the same meaning as it has in the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth except that it includes notional GST of the kind for which payments may be made under Part 3 of the National Taxation Reform (Consequential Provisions) Act 2000 by a person that is a State entity within the meaning of that Act;
S. 3(1) def. of GVM inserted by No. 26/2015 s. 3(a).
GVM has the same meaning as in the Road Safety Act 1986;
heavy trailer means a trailer or semi-trailer within the meaning of the Road Safety Act 1986 with an MRC exceeding 4⋅5 tonnes;
hire of goods has the meaning given by section 129;
hire purchase agreement has the meaning given by section 130(2);
hiring charges has the meaning given by section 135;
S. 3(1) def. of home inserted by No. 22/2021 s. 3.
home has the meaning given by section 4 of the First Home Owner Grant and Home Buyer Schemes Act 2000;
S. 3(1) def. of home buyer scheme inserted by No. 22/2021 s. 3.
home buyer scheme has the meaning given by section 34A of the First Home Owner Grant and Home Buyer Schemes Act 2000;
S. 3(1) def. of industrial organisation inserted by No. 46/2001 s. 3(1)(a), amended by No. 74/2009 s. 11.
industrial organisation means an association of employees or employers registered as an organisation under the Fair Work (Registered Organisations) Act 2009 of the Commonwealth;
instrument includes a written document and a written statement;
insurance includes assurance;
S. 3(1) def. of insurance intermediary substituted by No. 9/2002 s. 3(Sch. item 4.1(b)).
insurance intermediary means—
a person who arranges contracts of insurance in Victoria—
for reward; and
as an agent for a person carrying on a business of insurance; or
a financial services licensee (within the meaning of section 761A of the Corporations Act) whose licence covers arranging contracts of insurance as an agent for a person carrying on a business of insurance; or
a regulated principal (within the meaning of section 1430 of the Corporations Act) when carrying on business as an insurance broker that the regulated principal is authorised to carry on by Subdivision D of Division 1 of Part 10.2 of that Act;
S. 3(1) def. of insurer inserted by No. 40/2014 s. 3(a).
insurer has the meaning given by section 184;
interest includes an estate or proprietary right;
S. 3(1) def. of interest inserted by No. 46/2004 s. 3(2)(a), amended by No. 38/2012 s. 6(b).
interest in a landholder has the meaning given by section 79(1);
S. 3(1) def. of land-related interest inserted by No. 26/2015 s. 14, substituted by No. 17/2019 s. 5(b).
land-related interest means dutiable property referred to in section 10(1)(a), (ab), (ac), (ad) or (e);
S. 3(1) def. of land development inserted by No. 40/2016 s. 3(a).
land development, in relation to land, means any one or more of the following—
preparing a plan of subdivision of the land or taking any steps to have the plan registered under the Subdivision Act 1988;
applying for or obtaining a permit under the Planning and Environment Act 1987 in relation to the use or development of the land;
requesting under the Planning and Environment Act 1987 a planning authority to prepare an amendment to a planning scheme that would affect the land;
applying for or obtaining a permit or approval under the Building Act 1993 in relation to the land;
doing anything in relation to the land for which a permit or approval referred to in paragraph (d) would be required;
developing or changing the land in any other way that would lead to the enhancement of its value;
S. 3(1) def. of land use entitlement inserted by No. 46/2004 s. 3(2)(b).
land use entitlement means an entitlement to occupy land in Victoria conferred through an ownership of shares in a company or units in a unit trust scheme, or a combination of a shareholding or ownership of units together with a lease or licence;
S. 3(1) def. of lease repealed by No. 48/2001 s. 5(a), new def. of lease inserted by No. 39/2009 s. 3.
lease means a lease of land in Victoria or an agreement for a lease of land in Victoria;
S. 3(1) def. of liabilities inserted by No. 18/2023 s. 3.
liabilities, in relation to a sub-fund of a CCIV, has the meaning given by section 1233L of the Corporations Act;
S. 3(1) def. of liability date inserted by No. 46/2001 s. 3(1)(a).
liability date, for a mortgage, means the date the mortgage is liable under section 152 for mortgage duty;
licensed motor car trader has the same meaning as in the Motor Car Traders Act 1986;
S. 3(1) def. of life insurance amended by No. 40/2014 s. 3(c).
life insurance has the meaning given by section 196A;
S. 3(1) def. of life insurer repealed by No. 40/2014 s. 3(d).
* * * * *
S. 3(1) def. of linked entity inserted by No. 46/2004 s. 3(2)(b), amended by No. 38/2012 s. 6(c).
linked entity has the meaning given in section 75;
S. 3(1) def. of linked entity inserted by No. 38/2012 s. 4(1)(a), repealed by No. 70/2013 s. 3(Sch. 1 item 15).
* * * * *
S. 3(1) def. of listed company inserted by No. 38/2012 s. 4(1)(a), amended by Nos 41/2013 s. 13(b), 41/2013 s. 14(1)(a), 28/2017 s. 42(2)(a).
listed company means—
a corporation all the shares in which are quoted on the ASX or an equivalent exchange; or
a corporation all the shares in which are quoted on the LSE, NYSE or NZX; or
a corporation all the shares in which are quoted on any exchange of the World Federation of Exchanges (other than the ASX or an equivalent exchange);
S. 3(1) def. of listed trust inserted by No. 46/2004 s. 3(2)(b), substituted by No. 85/2005 s. 3(1)(b), amended by Nos 28/2011 s. 20(1)(c), 38/2012 s. 4(1)(c), 41/2013 ss 13(c), 14(1)(b), 28/2017 s. 42(2)(b).
listed trust means—
a unit trust scheme all the units in which are quoted on the ASX or an equivalent exchange; or
a unit trust scheme, all the units in which are quoted on the LSE, NYSE or NZX; or
a unit trust scheme all the units in which are quoted on any exchange of the World Federation of Exchanges (other than the ASX or an equivalent exchange);
S. 3(1) def. of load inserted by No. 26/2015 s. 3(a).
load, in relation to a vehicle, includes anything that is removed from the vehicle when not in use;
S. 3(1) def. of LSE inserted by No. 28/2017 s. 42(1).
LSE means the London Stock Exchange;
S. 3(1) def. of majority shareholder inserted by No. 46/2004 s. 3(2)(b).
majority shareholder in a company means—
in the case of a company the shares in which are not divided into classes—a person entitled to not less than 50% of those shares; and
in the case of a company the shares in which are divided into classes—a person entitled to not less than 50% of the shares in any of those classes;
S. 3(1) def. of managed investment scheme amended by Nos 44/2001 s. 3(Sch. item 32.1(b)), 46/2004 s. 3(2)(c).
managed investment scheme means a managed investment scheme within the meaning of Chapter 5C of the Corporations Act;
S. 3(1) def. of market capitalisation inserted by No. 38/2012 s. 4(1)(a).
market capitalisation means the total market value of an entity's issued securities, calculated by multiplying the number of the entity's issued securities by the current market value of one of those securities;
marketable securities means the following—
shares referred to in section 10(1)(b);
units referred to in section 10(1)(c);
an interest in shares or units referred to in paragraph (a) or (b);
S. 3(1) def. of member inserted by No. 18/2023 s. 3.
member, in relation to a sub-fund of a CCIV, has the same meaning as in paragraph (c) of the definition of that term in the Corporations Act;
S. 3(1) def. of minority shareholder inserted by No. 46/2004 s. 3(2)(b).
minority shareholder in a company, means a shareholder in that company who is not a majority shareholder;
S. 3(1) def. of mortgage substituted by No. 46/2001 s. 3(1)(d).
mortgage—
subject to paragraph (b), has the meaning given by section 149;
for the purposes of section 251A and the definitions of mortgage-backed security and pool of mortgages means a mortgage of any estate or interest in land, including a leasehold estate or interest in land, whether the land is situated in Victoria or elsewhere, and includes a charge over any such land;
S. 3(1) def. of mortgage-backed security inserted by No. 46/2001 s. 3(1)(a), substituted by No. 30/2002 s. 3(1)(a).
mortgage-backed security means—
an interest in a trust that entitles the holder of or beneficial owner under the interest—
to the whole or any part of the rights or entitlements of a mortgagee and any other rights or entitlements in respect of a mortgage or any money payable by the mortgagor under the mortgage (whether the money is payable to the holder of or beneficial owner under the interest on the same terms and conditions as under the mortgage or not); or
to the whole or any part of the rights or entitlements of a mortgagee and any other rights or entitlements in respect of a pool of mortgages or any money payable by mortgagors under those mortgages (whether the money is payable to the holder of or beneficial owner under the interest on the same terms and conditions as under the mortgages or not); or
to payments that are derived substantially or, if the regulations prescribe the extent, to the prescribed extent, from the income or receipts of a pool of mortgages—
and that may, in addition, entitle the holder or beneficial owner to a transfer or assignment of the mortgage or mortgages; or
a debt security (whether or not in writing) the payments under which by the person who issues or makes the debt security are derived substantially or, if the regulations prescribe the extent, to the prescribed extent, from the income or receipts of a pool of mortgages; or
any of the following—
an interest in a trust creating, conferring or comprising a right or interest (whether described as a unit, bond or otherwise) of or on a beneficiary in a scheme under which any profit or income in which the beneficiaries participate arises from the acquisition, holding, management or disposal of prescribed property, or any instrument that evidences such a right or interest;
a security (whether or not in writing) the payments under which by the person who issues or makes the security are derived substantially from the income or receipts of prescribed property;
an interest in a trust, a debt security (whether or not in writing), an instrument or property that creates an interest in or charge over an interest in a trust, a debt security (whether or not in writing) or other instrument or property, to which paragraph (a) or (b) or subparagraph (i) or (ii) of this paragraph applies—
but does not include an instrument or property comprising—
a mortgage; or
the transfer of a mortgage; or
a declaration of trust; or
an instrument of a class or description of instruments, or property of a class or description of property, prescribed not to be a mortgage-backed security for the purposes of this definition;
mortgage package has the meaning given by section 160;
S. 3(1) def. of motor vehicle amended by No. 26/2015 s. 3(b).
motor vehicle means—
a motor vehicle within the meaning of the Road Safety Act 1986; or
a heavy trailer, other than in section 233 and Schedule 1;
S. 3(1) def. of MRC substituted by Nos 85/2005 s. 3(1)(c), 26/2015 s. 3(c).
MRC (mass rating for charging), in relation to a vehicle, means—
the maximum mass of the vehicle, including any load, recorded on the compliance plate as the GVM, gross trailer mass rating or aggregate trailer mass of the vehicle; or
in relation to a vehicle for which there is no compliance plate—its maximum mass, including any load;
S. 3(1) def. of National Schedule inserted by No. 85/2005 s. 3(1)(a), repealed by No. 26/2015 s. 3(g).
* * * * *
S. 3(1) def. of net tangible assets inserted by No. 38/2012 s. 4(1)(a).
net tangible assets means the value determined by calculating the value of the total assets of an entity, less the value of its total liabilities and the value of any intangible assets;
S. 3(1) def. of NYSE inserted by No. 28/2017 s. 42(1).
NYSE means the New York Stock Exchange;
S. 3(1) def. of NZX inserted by No. 41/2013 s. 13(a).
NZX means the company registered in New Zealand known as NZX Limited;
S. 3(1) def. of on-line duty payment system inserted by No. 36/2010 s. 3.
on-line duty payment system means a system for the electronic payment of duty authorised by the Commissioner under a taxation law;
S. 3(1) def. of partner inserted by No. 27/2001 s. 3(Sch. 1 item 2.1(a)).
partner of a person means the person's spouse or domestic partner;
passenger car means—
a motor vehicle constructed principally for the carriage of passengers; or
a motor vehicle that—
is designed principally for the conveyance of not more than 8 adults; and
is constructed either on a truck chassis or with special features for off-road operation—
but does not include—
a motor cycle; or
a motor vehicle having a utility or panel van type body in which the forward part of the body form and the greater part of the mechanical equipment are the same as those in a passenger car manufactured by the manufacturer of the motor vehicle; or
a motor vehicle constructed for the carriage of passengers and equipped to seat more than 8 adults (including the driver);
S. 3(1) def. of person amended by No. 46/2001 s. 3(1)(e).
person includes an unincorporated association and a partnership;
Note
person also includes a body corporate—see section 38 of the Interpretation of Legislation Act 1984.
pooled superannuation trust means an entity that is a pooled superannuation trust in accordance with section 44 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth;
S. 3(1) def. of pool of mortgages inserted by No. 46/2001 s. 3(1)(a).
pool of mortgages means a pool or collection of assets—
that consists solely of mortgages; or
that consists substantially, or to the extent declared under subsection (2)(d), of mortgages or of money paid under mortgages, or both, and may include—
cash;
investments of a kind referred to in section 4(1)(a), (b), (c), (d), (e), (f), (g), (h), (i), (ia), (j), (k) or (o) of the Trustee Act 1958 as in force immediately before the commencement of section 4 of the Trustee and Trustee Companies (Amendment) Act 1995;
assets of a class of assets declared under subsection (2)(e);
S. 3(1) def. of potential voting power inserted by No. 26/2015 s. 14.
potential voting power has the same meaning as in the Foreign Acquisitions and Takeovers Act 1975 of the Commonwealth;
S. 3(1) def. of PPR transfer inserted by No. 28/2017 s. 3.
PPR transfer has the meaning given by section 57I;
premium, in relation to general insurance, has the meaning given by section 177;
S. 3(1) def. of prescribed property inserted by No. 30/2002 s. 3(1)(b).
prescribed property means any of the following—
cash;
investments of a kind referred to in section 4(1)(a), (b), (c), (d), (e), (f), (g), (h), (i), (ia), (j), (k) or (o) of the Trustee Act 1958 as in force immediately before the commencement of section 4 of the Trustee and Trustee Companies (Amendment) Act 1995;
S. 3(1) def. of primary producer inserted by No. 17/2019 s. 16.
primary producer means a person—
engaged solely or substantially in agricultural, horticultural, viticultural, dairying, pastoral or other like activities; or
who is the holder of a licence under the Fisheries Act 1995 to take fish for sale;
S. 3(1) def. of primary producer passenger car inserted by No. 17/2019 s. 16.
primary producer passenger car means a passenger car that is—
registered or to be registered in the name of a person who is a primary producer; and
used or to be used primarily in the business of the person as a primary producer;
S. 3(1) def. of primary production amended by No. 58/2003 s. 3(a).
primary production means the use of land primarily for—
cultivation for the purpose of selling the produce of cultivation (whether in a natural, processed or converted state); or
the maintenance of animals or poultry for the purpose of selling them or their natural increase or bodily produce; or
the keeping of bees for the purpose of selling their honey; or
commercial fishing, including the preparation for commercial fishing or the storage or preservation of fish or fishing gear; or
the cultivation or propagation for sale of plants, seedlings, mushrooms or orchids;
S. 3(1) def. of principal beneficiary inserted by No. 50/2024 s. 13.
principal beneficiary, of a special disability trust, has the meaning given by—
section 1209M(1) of the Social Security Act 1991 of the Commonwealth, in the case of a special disability trust within the meaning of section 1209L of that Act; and
section 52ZZZWA(1) of the Veterans' Entitlements Act 1986 of the Commonwealth, in the case of a special disability trust within the meaning of section 52ZZZW of that Act;
S. 3(1) def. of private company amended by Nos 9/2002 s. 3(Sch. item 4.1(c)), 46/2004 s. 3(2)(d), substituted by No. 85/2005 s. 3(1)(d), amended by Nos 28/2011 s. 20(1)(d), 38/2012 s. 4(1)(d), substituted by No. 26/2015 s. 3(d).
private company means a corporation that is not a listed company;
S. 3(1) def. of private corporation repealed by No. 46/2004 s. 3(2)(e).
* * * * *
S. 3(1) def. of private unit trust scheme substituted by No. 46/2004 s. 3(2)(f).
private unit trust scheme means a unit trust scheme that is not—
a public unit trust scheme; or
a wholesale unit trust scheme;
S. 3(1) def. of public unit trust scheme amended by No. 44/2001 s. 3(Sch. item 32.1(c)), substituted by No. 46/2004 s. 3(2)(g), amended by Nos 38/2012 s. 4(1)(e), 17/2019 s. 3.
public unit trust scheme means any of the following unit trust schemes—
a listed trust;
a widely held trust;
* * * * *
a registered declared public unit trust scheme—
but does not include a unit trust scheme that is a wholesale unit trust scheme;
S. 3(1) def. of qualified investor inserted by No. 46/2004 s. 3(2)(b), amended by No. 38/2012 s. 6(d).
qualified investor has the meaning given in section 89P;
S. 3(1) def. of qualifying dutiable transaction inserted by No. 16/2024 s. 36.
qualifying dutiable transaction has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;
S. 3(1) def. of qualifying interest inserted by No. 16/2024 s. 36.
qualifying interest, in relation to land, has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;
S. 3(1) def. of qualifying landholder transaction inserted by No. 16/2024 s. 36.
qualifying landholder transaction has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;
S. 3(1) def. of qualifying use inserted by No. 16/2024 s. 36.
qualifying use, in relation to land, has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;
S. 3(1) def. of receiving body amended by Nos 38/2012 s. 13, 18/2023 s. 22(1).
receiving body, in Chapter 4, has the same meaning as in the Financial Sector (Transfer and Restructure) Act 1999 of the Commonwealth;
S. 3(1) def. of recognised stock exchange amended by Nos 46/2001 s. 3(1)(f), 9/2002 s. 3(Sch. item 4.1(d)), 46/2004 s. 3(2)(h).
recognised stock exchange means—
a stock exchange that is a member of the World Federation of Exchanges; or
a prescribed financial market (within the meaning of section 9 of the Corporations Act); or
a licensed market (within the meaning of section 761A of the Corporations Act) that is prescribed as a recognised stock exchange for the purposes of this Act;
* * * * *
S. 3(1) def. of referable inserted by No. 18/2023 s. 3.
referable, in relation to a sub-fund and a share in a CCIV, has the meaning given by section 1230(1) of the Corporations Act;
S. 3(1) def. of referrable point inserted by No. 46/2001 s. 3(1)(a).
referrable point, for the dutiable proportion of a mortgage, means the document or approved method used to work out the dutiable proportion under section 159;
S. 3(1) def. of registered declared public unit trust scheme inserted by No. 46/2004 s. 3(2)(b), amended by No. 38/2012 s. 6(e).
registered declared public unit trust scheme means a unit trust scheme declared as a public unit trust scheme under Division 6 of Part 2 of Chapter 3;
S. 3(1) def. of registered imminent public unit trust scheme inserted by No. 46/2004 s. 3(2)(b), repealed by No. 38/2012 s. 4(1)(f).
* * * * *
registered insurer means an insurer registered under Part 2 of Chapter 8;
registered operator has the same meaning as in the Road Safety Act 1986;
S. 3(1) def. of registered used car dealer repealed by No. 30/2002 s. 3(2).
* * * * *
S. 3(1) def. of related body corporate amended by No. 44/2001 s. 3(Sch. item 32.1(d)).
related body corporate has the same meaning as in the Corporations Act;
S. 3(1) def. of related person amended by Nos 44/2001 s. 3(Sch. item 32.1(d)), 58/2003 s. 3(b), 46/2004 s. 3(2)(i)(i)-(v), 38/2012 s. 4(1)(g).
related person means a person who is related to another person in accordance with any of the following provisions—
natural persons are related persons if one of them is a relative of the other;
companies are related persons if they are related bodies corporate within the meaning of the Corporations Act;
a natural person and a company are related persons if the natural person is a majority shareholder or director of the company or of another company that is a related body corporate of the company within the meaning of the Corporations Act;
a natural person and a trustee are related persons if the natural person is a beneficiary of the trust (not being a public unit trust scheme) of which the trustee is a trustee;
a company and a trustee are related persons if the company, or a majority shareholder or director of the company, is a beneficiary of the trust (not being a public unit trust scheme) of which the trustee is a trustee;
persons are related persons if one of those persons is a related person of a person of whom the other of those persons is a related person (including a person that is a related person of the other of those persons because of one or more other applications of the paragraphs in this definition);
* * * * *
S. 3(1) def. of relative amended by No. 27/2001 s. 3(Sch. 1 item 2.1(c)).
relative in relation to a natural person, means a person who is—
a child or remoter lineal descendant of the person or of the partner of the person;
a parent or remoter lineal ancestor of the person or of the partner of the person;
a brother or sister of the person or of the partner of the person;
the partner of the person or a partner of any person referred to in paragraph (a), (b) or (c);
a child of a brother or sister of the person or of the partner of the person;
a brother or sister of a parent of the person or of a parent of the partner of the person;
S. 3(1) def. of relevant entry transaction inserted by No. 16/2024 s. 36.
relevant entry transaction, in respect of land, means the entry transaction under which the land becomes tax reform scheme land;
S. 3(1) def. of rent reserved inserted by No. 39/2009 s. 3.
rent reserved in relation to a lease, means the rent paid or payable during the term of the lease and any amount paid or payable for the right to use the land under the lease;
Example
Amounts paid under the lease for the following purposes are payments for the right to use the land under the lease—
rates;
charges;
taxes;
maintenance;
utilities;
legal costs required to be paid by the lessee on behalf of the lessor in relation to the grant of the lease;
insurance premiums;
marketing costs;
car park contributions.
S. 3(1) def. of residential property inserted by No. 26/2015 s. 14, substituted by No. 40/2016 s. 3(b).
residential property has the meaning given by section 3G;
S. 3(1) def. of responsible entity amended by No. 44/2001 s. 3(Sch. item 32.1(d)).
responsible entity of a managed investment scheme, has the same meaning as in the Corporations Act;
right 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;
S. 3(1) def. of service demonstrator vehicle inserted by No. 17/2019 s. 16.
service demonstrator vehicle means a motor vehicle that is—
used for the purposes of the sale of another vehicle of the same class; and
made available without charge by a licensed motor car trader to a customer of the trader for use while the customer's motor vehicle is being serviced;
S. 3(1) def. of shared equity arrangement inserted by No. 22/2021 s. 3.
shared equity arrangement means an arrangement, including an arrangement made under a home buyer scheme, under which the State contributes to the purchase of a home, or land on which a home will be affixed, and takes an equitable interest in the land to which the home is or will be affixed;
S. 3(1) def. of shares substituted by No. 26/2015 s. 3(e).
shares means—
subject to paragraph (b), shares or rights to shares; and
for the purposes of the definition of listed company, shares that entitle the shareholder to a distribution of the property of the company on a winding up of the company, other than a return of capital paid in respect of the shares;
special dealer means a person who would be a motor car trader within the meaning of the Motor Car Traders Act 1986 but for the fact that the motor vehicles in which the person trades are not motor cars within the meaning of that Act;
S. 3(1) def. of special disability trust inserted by No. 50/2024 s. 13.
special disability trust means—
a special disability trust within the meaning of section 1209L of the Social Security Act 1991 of the Commonwealth; or
a special disability trust within the meaning of section 52ZZZW of the Veterans' Entitlements Act 1986 of the Commonwealth;
special hiring agreement has the meaning given by section 133;
S. 3 def. of spouse substituted by No. 27/2001 s. 3(Sch. 1 item 2.1(d)).
spouse of a person means a person to whom the person is married;
stamp means duty stamp whether impressed by machine imprint or adhesive;
S. 3 def. of sub-fund inserted by No. 18/2023 s. 3.
sub-fund, of a CCIV, has the meaning given by section 1222Q(1) of the Corporations Act;
S. 3(1) def. of substantial interest inserted by No. 26/2015 s. 14.
substantial interest has the meaning given by section 3B;
S. 3(1) def. of tax reform scheme land inserted by No. 16/2024 s. 36.
tax reform scheme land has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;
S. 3(1) def. of tax reform scheme transaction inserted by No. 16/2024 s. 36, substituted by No. 50/2024 s. 3(d).
tax reform scheme transaction means—
a standard transaction within the meaning of section 69AN(1); or
a non-standard transaction within the meaning of section 69AN(2);
S. 3(1) def. of tenant's fixtures inserted by No. 17/2019 s. 5(a).
tenant's fixtures has the meaning given by section 22A(3);
Territory means Territory of the Commonwealth;
S. 3 def. of transfer amended by No. 44/2001 s. 3(Sch. item 32.1(d)).
transfer includes an assignment, a conveyance, an exchange and a buy-back of shares in accordance with Division 2 of Part 2J.1 of the Corporations Act;
S. 3(1) def. of trustee inserted by No. 46/2004 s. 3(2)(b).
trustee of a unit trust scheme that is a managed investment scheme, includes—
a responsible entity of the scheme; and
an agent appointed, or other person engaged, by a responsible entity of the scheme under Part 5C.2 of the Corporations Act;
unencumbered value of dutiable property has the meaning given by section 22;
S. 3(1) def. of unit amended by No. 46/2004 s. 3(3), substituted by No. 26/2015 s. 3(f).
unit in a unit trust scheme means—
subject to paragraphs (b) and (c), 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; and
for the purposes of the definition of listed trust, a right or interest (whether described as a unit or a sub-unit or otherwise) of a beneficiary under the scheme that entitles the beneficiary to participate proportionately with other unit holders in a distribution of the property of the trust on its vesting, other than a return of capital paid in respect of the unit; and
for the purposes of the definition of widely held trust and Part 2 of Chapter 3—
a right or interest (whether described as a unit or a sub‑unit or otherwise) of a beneficiary under the scheme that entitles the beneficiary to participate proportionately with other unit holders in a distribution of the property of the trust on its vesting; 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 persons 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 pursuant to the trust;
S. 3(1) def. of variation repealed by No. 48/2001 s. 5(a).
* * * * *
S. 3 def. of Victorian company substituted by No. 44/2001 s. 3(Sch. item 32.1(e)), amended by No. 46/2004 s. 3(2)(j).
Victorian company means—
a company incorporated or taken to be incorporated under the Corporations Act that is taken to be registered in Victoria; or
any other body corporate that is incorporated under a Victorian Act;
S. 3(1) def. of voting power inserted by No. 26/2015 s. 14.
voting power has the same meaning as in the Foreign Acquisitions and Takeovers Act 1975 of the Commonwealth;
S. 3(1) def. of wholesale unit trust scheme inserted by No. 46/2004 s. 3(2)(b), amended by Nos 36/2005 s. 6, 38/2012 s. 6(f).
wholesale unit trust scheme means a unit trust scheme that is registered under Division 6 of Part 2 of Chapter 3 as a wholesale unit trust scheme, an imminent wholesale unit trust scheme or a declared wholesale unit trust scheme;
S. 3(1) def. of widely held trust inserted by No. 46/2004 s. 3(2)(b), amended by Nos 85/2005 s. 3(1)(e), 38/2012 s. 4(1)(h).
widely held trust means a unit trust scheme—
* * * * *
that has not less than 300 registered unitholders; and
* * * * *
none of the registered unitholders in which, either individually or together with associated persons, holds or is entitled to more than 20% of the units in the scheme.
S. 3(2) inserted by No. 46/2001 s. 3(2).
The Governor in Council, by order published in the Government Gazette, may declare—
S. 3(2)(a)–(c) repealed by No. 30/2002 s. 3(3).
* * * * *
the extent to which a pool of assets consists of mortgages or money paid under mortgages, or both, to be a pool of mortgages;
a class of assets to be assets included in a pool of mortgages.
S. 3(2A) inserted by No. 22/2024 s. 3(2).
The Treasurer, by notice published in the Government Gazette, may declare one or more of the following—
a class of business to be a class of business for the purposes of paragraph (g) of the definition of business insurance;
a kind of insurance to be a kind of insurance that is excluded from the definition of business insurance.
S. 3(3) inserted by No. 27/2001 s. 3(Sch. 1 item 2.2), substituted by No. 12/2008 s. 73(1)(Sch. 1 item 17.2).
For the purposes of the definition of domestic relationship in subsection (1)—
S. 3(3)(a) amended by No. 4/2009 s. 37(Sch. 1 item 10.2(a)).
registered domestic relationship has the same meaning as in the Relationships Act 2008; and
S. 3(3)(b) amended by No. 4/2009 s. 37(Sch. 1 item 10.2(b)).
in determining whether persons who are not in a registered domestic relationship are in a domestic relationship, all the circumstances of their relationship are to be taken into account, including any one or more of the matters referred to in section 35(2) of the Relationships Act 2008 as may be relevant in a particular case.
S. 3(4) inserted by No. 85/2005 s. 3(2), amended by Nos 28/2011 s. 20(2), 38/2012 s. 4(2), repealed by No. 41/2013 s. 14(2).
* * * * *
S. 3(4A) inserted by No. 38/2012 s. 4(3).
For the purposes of the definition of equivalent exchange in subsection (1), the requirements are—
the entity must lodge a prospectus or product disclosure statement (or an equivalent document approved by the exchange) with the Australian Securities and Investments Commission; and
either—
the following apply—
the entity must have at least 400 security holders each having a parcel of the main class of securities on issue with a value of at least $2000; and
persons who are associated persons of the entity must hold no more than 25% of the total number of securities in the main class of securities; or
the entity must have at least 500 security holders each having a parcel of the main class of securities on issue with a value of at least $2000; and
the entity must have—
net tangible assets of at least $2 000 000 at the time of listing; or
a market capitalisation of at least $10 000 000.
S. 3(5) inserted by No. 85/2005 s. 3(2).
For the purposes of the definition of widely held trust in subsection (1), if a registered unitholder holds units as a trustee of a number of different trusts, the unitholder is taken to be a separate registered unitholder in relation to each trust and the units held are taken to be separate unitholdings, except where the beneficiaries of the trusts are the same or associated persons.
S. 3AA inserted by No. 48/2025 s. 25.
3AA What is an entry interest?
For the purposes of this Act, entry interest, in relation to tax reform scheme land, means—
if the relevant entry transaction related to an interest in land that is a qualifying interest—the qualifying interest the subject of the relevant entry transaction for the land; or
if the relevant entry transaction related to an interest in land that amounts to a qualifying interest in the land when aggregated with other interests in land in accordance with section 10 or 13 of the Commercial and Industrial Property Tax Reform Act 2024—the qualifying interest resulting from the aggregation of those interests.
If the relevant entry transaction was a qualifying dutiable transaction to which an exemption or concession applied (other than a reduction from duty under section 64B), the quantum of an entry interest referred to in subsection (1)(a) is the percentage of the whole of the land determined in accordance with the formula in subsection (4).
If any of the qualifying dutiable transactions under which an aggregated interest was obtained was a qualifying dutiable transaction to which an exemption or concession applied (other than a reduction from duty under section 64B), the quantum of an entry interest referred to in subsection (1)(b) is the sum of the percentages of the whole of the land determined in accordance with the formula in subsection (4) in respect of each of the aggregated interests.
For the purposes of subsections (2) and (3), the percentage of the whole of the land obtained under a qualifying dutiable transaction to which an exemption or concession applied (other than a reduction from duty under section 64B) is the percentage determined in accordance with the following formula—
where—
D is the dutiable value of the land the subject of the qualifying dutiable transaction;
U is the unencumbered value of the whole of the land at the time of the qualifying dutiable transaction.
S. 3A (Heading) amended by No. 22/2018 s. 3(1).
S. 3A inserted by No. 26/2015 s. 15.
3A What is a controlling interest for the purposes of the definition of foreign corporation?
S. 3A(1) amended by No. 22/2018 s. 3(2).
For the purposes of the definition of foreign corporation in section 3(1), a person has a controlling interest in a corporation if the person—
is in a position to control more than 50% of the voting power in the corporation; or
is in a position to control more than 50% of the potential voting power in the corporation; or
has an interest in more than 50% of the issued shares in the corporation; or
is a person in respect of whom the Commissioner has made a determination under section 3C.
S. 3A(2) substituted by No. 22/2018 s. 3(3).
Subsection (1) applies whether or not the person has the controlling interest—
alone; or
together with—
an associated person; or
a foreign natural person, foreign corporation or trustee of a foreign trust.
S. 3A(3) amended by No. 22/2018 s. 3(4).
For the purposes of this section, a reference to control of the voting power in a corporation is a reference to control that is direct or indirect, including control that is exercisable as a result or by means of arrangements or practices, whether or not having legal or equitable force, and whether or not based on legal or equitable rights.
S. 3A(4) amended by No. 40/2016 s. 10(1).
For the purposes of this section, to determine how much potential voting power a person is in a position to control at a particular time, section 22(3) of the Foreign Acquisitions and Takeovers Act 1975 of the Commonwealth is to be applied.
S. 3B (Heading) amended by No. 22/2018 s. 4(1).
S. 3B inserted by No. 26/2015 s. 15.
3B What is a substantial interest in a trust estate for the purposes of the definition of foreign trust?
S. 3B(1) amended by No. 22/2018 s. 4(2)(a).
For the purposes of the definition of foreign trust in section 3(1), a person has a substantial interest in the trust estate of a trust if—
S. 3B(1)(a) amended by No. 22/2018 s. 4(2)(b).
the person has a beneficial interest of more than 50% of the capital of the estate of the trust; or
the Commissioner has made a determination under section 3D in respect of the person.
S. 3B(2) amended by No. 22/2018 s. 4(3).
If, under the terms of a trust, a trustee has a power or discretion as to the distribution of the capital of the trust estate to a person or a member of a class of person, any such person is taken to have a beneficial interest in the maximum percentage of the capital of the trust estate that the trustee is empowered to distribute to that person.
S. 3B(3) substituted by No. 22/2018 s. 4(4).
Subsection (1) applies whether or not the person has the substantial interest—
alone; or
together with—
an associated person; or
a foreign natural person, foreign corporation or trustee of a foreign trust.
S. 3C inserted by No. 26/2015 s. 15.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.