Duties Regulations 2008

regulations 1 and 2 — on the day on which these regulations are published in the Gazette;

the rest of the regulations — on 1 July 2008.

In this regulation —

in relation to a corporation — an issued share of the corporation; or

in relation to a unit trust scheme — a unit issued under the scheme.

In this regulation, an entity (entity A) is a wholly-owned subsidiary of a listed entity if the listed entity, or the trustee of the listed entity as trustee (if it is a unit trust scheme), directly or indirectly —

holds 100% of the securities of entity A; and

controls (either by being able to cast or to control the casting of) 100% of the votes that may be cast at a general meeting of entity A.

In these regulations, a listed entity demerger is an arrangement that is made in relation to a wholly-owned subsidiary (the demerged entity) of a listed entity if —

under the arrangement, each person (a listed entity security holder) who holds securities of the listed entity on the date nominated by the listed entity may acquire securities of the demerged entity; and

the arrangement does not provide for any acquisition of securities of the demerged entity otherwise than by a listed entity security holder; and

the demerged entity is listed on a prescribed financial market, or the Commissioner is satisfied that the demerged entity will be listed on a prescribed financial market, before the day that is 12 months after the day on which the first acquisition of securities under the arrangement occurs.

In these regulations, a hybrid demerger is an arrangement that is made in relation to a wholly-owned subsidiary (the demerged entity) of a listed entity if —

under the arrangement, each person (a listed entity security holder) who holds securities of the listed entity on the date nominated by the listed entity may acquire securities of the demerged entity; and

the arrangement also involves a public float of securities of the demerged entity; and

the arrangement does not provide for any acquisition of securities of the demerged entity otherwise than —

by a listed entity security holder; or

in the public float.

For the purposes of subregulations (3) and (4), a person may, without limitation, acquire securities by the purchase, gift, allotment or issue of the securities.

For the purposes of subregulations (3) and (4), an acquisition of securities for a listed entity security holder by a person nominated for that purpose by the listed entity is taken to be an acquisition by the listed entity security holder.

the Australian Securities Exchange Limited (ABN 83 000 943 377);

the National Stock Exchange of Australia Limited (ABN 11 000 902 063);

the London Stock Exchange plc;

Euronext N.V.;

a stock exchange that is a member of the World Federation of Exchanges.

In this regulation —

a loan, including any security for the loan;

a credit card account;

a hire‑purchase agreement;

a chattel lease, whether finance or operating;

any rights of a lender or bailor that are —

usually conferred in relation to a financial asset referred to in paragraphs (a) to (d); or

incidental to a financial asset referred to in paragraphs (a) to (d);

an estate or interest in fixed infrastructure; and

a financial asset.

For the purposes of section 11 of the Act, each of the following transactions is prescribed as an excluded transaction —

the vesting of a security interest under the Financial Sector (Business Transfer and Group Restructure) Act 1999 (Commonwealth) Part 3;

a transaction the subject of which is an interest in a partnership, unless the transaction is a partnership acquisition under section 11(1)(i) of the Act;

the temporary transfer of the whole or part of an entitlement under an authorisation in accordance with the Fish Resources Management Act 1994 section 141, unless the transfer gives rise to the transfer of a beneficial interest in the authorisation;

the transfer of dutiable property (other than land or a right in relation to land) that would, but for this paragraph, be a transfer on which duty is not chargeable under section 42(1) of the Act;

the creation of an easement under the Transfer of Land Act 1893 Part IVA;

the surrender of an easement pursuant to the Transfer of Land Act 1893 section 129C(1)(a) or 229A(2);

a partnership acquisition where —

the partnership holds no land in Western Australia, other than a lease or leases having a nominal value; and

the partnership holds no indirect interest in land in Western Australia, other than in a lease or leases having a nominal value;

a declaration of trust over dutiable property if —

the dutiable property subject to the declaration of trust includes fixed to land financial assets and does not include any other dutiable property (except for fixed infrastructure connected with those fixed to land financial assets or chattels); and

the declaration of trust is for the purposes of creating an asset‑backed securitisation arrangement;

a transfer of, or an agreement for the transfer of, dutiable property if —

the dutiable property includes fixed to land financial assets and does not include any other dutiable property (except for fixed infrastructure connected with those fixed to land financial assets or chattels); and

the transfer, or agreement, directly relates to the creation or winding up of an asset‑backed securitisation arrangement;

a transfer of, or an agreement for the transfer of, dutiable property if —

the dutiable property includes fixed to land financial assets and does not include any other dutiable property (except for fixed infrastructure connected with those fixed to land financial assets or chattels); and

the transfer is to, or the agreement is for the transfer to, an asset‑backed securitisation arrangement.

Subregulation (1)(b) applies to all transactions that take place on or after 1 July 2008, whether before or after the commencement of the Duties Amendment Regulations (No. 2) 2009 regulation 4.

Subregulation (1)(d), (e) and (f) apply to all transactions that take place on or after 1 July 2008, whether before or after the commencement of the Duties Amendment Regulations (No. 2) 2013 regulation 4.

Subregulation (1)(g) applies to all transactions that take place on or after 1 July 2008, whether before or after the commencement of the Duties Amendment Regulations 2016 regulation 4.

Subregulation (1)(h), (i) and (j) apply to a transaction that occurs on or after 13 June 2019.

In this regulation —

For the purposes of section 18 of the Act, dutiable property that is any of the following is prescribed as special dutiable property —

a profit à prendre other than a timber sharefarming profit à prendre;

a timber sharefarming profit à prendre, if there is or will be consideration for the surrender of the timber sharefarming profit à prendre;

a plantation interest created under an agreement under the Tree Plantation Agreements Act 2003, if there is or will be consideration for the surrender of the plantation interest.

In this regulation —

A right under a retirement village licence is, despite section 91A(1) of the Act, excluded from the definitions of fixed infrastructure access right and fixed infrastructure control right in that section.

Subregulation (2) applies to a transaction that occurs on or after 13 June 2019.

In this regulation —

the agistment arrangement provided for in the contract or agreement is limited to agistment of the living creatures for a purpose referred to in the section 101A(1)(b)(ii) or (iii) of the Act; and

the contract or agreement is made between —

a person who may lawfully use dutiable property for the rearing of living creatures; and

a person to whom subparagraph (i) does not apply who owns the living creatures.

For the purposes of section 101A(1)(e) of the Act, production‑based agistment is prescribed as primary production.

In this regulation —

For the purposes of section 140 of the Act, the acquisition of new dutiable property by the creation of a timber sharefarming profit à prendre (the new profit à prendre) is prescribed as a dutiable transaction on which nominal duty is chargeable if —

the new profit à prendre is created to replace another timber sharefarming profit à prendre (the old profit à prendre) that has been surrendered for no consideration; and

the old profit à prendre was registered under the Transfer of Land Act 1893 in relation to the whole of a lot, but the benefit of the old profit à prendre was in relation to a portion of the lot only; and

the new profit à prendre is created in relation to that portion of the lot only; and

the person or persons who had the benefit of the old profit à prendre are the same as the persons acquiring the benefit of the new profit à prendre; and

there is no consideration, or agreement for consideration, for the acquisition.

For the purposes of section 162(1A)(b) of the Act, section 162(1)(h) and (i) of the Act do not apply in circumstances where the acquisitions are made as part of —

a listed entity demerger; or

a hybrid demerger.

This regulation applies in determining under section 162 of the Act whether persons are related persons in relation to an acquisition of an interest in a landholder if the acquisition occurs (as determined under section 176 of the Act) on or after 13 June 2019.

In this regulation, a reference to a provision of the Act includes a reference to that provision as applied by section 205ZE of the Act.

For the purposes of section 209(2)(j) of the Act, insurance required to be obtained and kept under the Workers Compensation and Injury Management Act 2023 section 202(2) that insures an employer for a liability referred to in paragraph (b) of the definition of workers compensation policy in section 202(1) of that Act is prescribed.

This regulation applies to a premium, or an instalment of a premium, paid in relation to a contract of insurance as described in subregulation (1) on or after 1 October 2011.