Australian Capital Territory Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

DUTIES ACT 1999 (NO. 7 OF 1999) - SECT 4

Interpretation

    In this Act, unless the contrary intention appears—

“Act imposing duty” means—

        (a)     a corresponding Act; or

        (b)     an Act to which the Taxation Administration Act applies;

“ADR” means a negotiable certificated receipt issued by a depositary resident outside Australia acknowledging the interest of the registered holder of the receipt in shares in a Territory company held by the depositary, or deposited with a depositary to hold, as trustee for the holder;
“application to register a motor vehicle” means—

        (a)     an application under the Motor Traffic Act to register a motor vehicle; and

        (b)     an application under the Motor Traffic Act to transfer the registration of a motor vehicle;

“approved” means approved by the Commissioner;
“associated person” means a person who is associated with another person in accordance with any of the following provisions:

        (a)     persons are associated persons if they are related persons;

        (b)     natural persons are associated persons if they are partners in a partnership to which the Partnership Act 1963 applies;

        (c)     private companies are associated persons if common shareholders have a majority interest in each private company;

        (d)     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;

        (e)     a private company and a trustee are associated persons if a related body corporate of the company (within the meaning of the Corporations Law ) is a beneficiary of the trust (not including a public unit trust scheme) of which the trustee is a trustee;

    and, for the purposes of Part II of Chapter 3, a public company and a subsidiary of a public company are taken to be associated persons;
“Australian register” has the same meaning as in the Corporations Law ;
“Australian Stock Exchange” means the Australian Stock Exchange Limited;
“bankrupt” includes applying to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounding with creditors or making an assignment of remuneration for their benefit;
“broker” has the meaning given by section 116 ;
“business asset” has the meaning given by paragraph 10 (g);
“charge” includes impose;
“charitable organisation” means an association, society, institution or body carried on for a religious, educational, benevolent or charitable purpose, other than one carried on for the purpose of securing pecuniary benefits to its members;
“CHESS” means Clearing House Electronic Subregister System;
“commercial hire business” has the meaning given by section 163;
“Commissioner” means the Commissioner for Australian Capital Territory Revenue appointed under the Taxation Administration Act;
“company title dwelling” means a separate dwelling in a building containing more than 1 separate dwelling situated on land in the Territory owned or leased by a company in which shares issued by the company are owned by persons who, by virtue of the ownership of their shares, have an exclusive right to occupy a part of the building;
“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;
“complying superannuation fund” means an entity that is—

        (a)     a complying superannuation fund in accordance with section 42 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth; or

        (b)     an exempt public sector superannuation scheme within the meaning of that Act;

“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 law of the Territory, means a law of a State or another Territory that is similar, or has a similar effect, to that law of the Territory;
“cost”, in relation to a lease, has the meaning given by section 136;
“Crown lease” includes a lease of land granted by or in the name of the Commonwealth or by the Federal Capital Commission appointed under the Seat of Government (Administration) Act 1924 of the Commonwealth;
“CUFS” means any interest, issued by or on behalf of CHESS Depositary Nominees Pty Limited, that provides beneficial ownership in respect of—

        (a)     shares in a corporation incorporated outside Australia; or

        (b)     units in a public unit trust scheme;

    being shares or units that are quoted on the market operated by the Australian Stock Exchange;
“determined amount”, in relation to duty, means an amount—

        (a)     determined by the Minister; or

        (b)     calculated in a manner determined by the Minister;

    under section 139 of the Taxation Administration Act for the purposes of the provision in which the expression occurs;
“determined rate”, in relation to duty, means a rate determined by the Minister under section 139 of the Taxation Administration Act for the purposes of the provision in which the expression occurs;
“disabled person” means a person who is 16 years of age or older and who is—

        (a)     permanently blind; or

        (b)     permanently incapacitated for work;

“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—

        (a)     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;

        (b)     will occur if a discretion conferred under the trust is not exercised; or

        (c)     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;

“domestic partner” means a person who is a party to a domestic relationship and includes a person who was a party to such a relationship that has ceased, whether the cessation took effect in Australia or elsewhere;
“domestic relationship” has the same meaning as in the Domestic Relationships Act 1994 ;
“duly stamped”, in relation to an instrument, means duly stamped as mentioned in section 235;
“dutiable property” has the meaning given by section 10;
“dutiable transaction” has the meaning given by subsection 7 (2);
“dutiable value”, in relation to a motor vehicle, has the meaning given by section 203;
“dutiable value”, in relation to dutiable property other than a motor vehicle, has the meaning given by section 20;
“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);
“error transaction” means a sale or purchase of shares made to reverse a sale or purchase of shares made mistakenly not more than 7 days earlier, and the sale or purchase so reversed;
“fit-out costs” in relation to a lease, means improvements made by or on behalf of, or at the expense of, the lessee and that remain the property of the lessee;
“foreign resident” means a person who at the relevant time—

        (a)     in the case of a person, other than a person referred to in paragraph (b) or (c), is not resident or domiciled in Australia;

        (b)     in the case of a body corporate, is not incorporated under a law of an Australian jurisdiction and—

              (i)     does not have its central management and control in Australia; and

              (ii)     does not have its voting power controlled by shareholders who are residents of Australia;

        (c)     in the case of a partnership or other unincorporated association or body of persons, does not have a member who is resident in Australia; or

        (d)     in the case of a trust estate—

              (i)     does not have a trustee who is resident in Australia; and

              (ii)     does not have its central management and control in Australia;

“franchise” means the package of rights held by a franchisee under a franchise arrangement;
“franchise arrangement” means an agreement or other arrangement between 2 or more persons by which one of them (the franchisor) authorises or permits another (the franchisee)—

        (a)     to engage in the business of offering, selling or distributing goods and services within or partly within the Territory, and the franchisee is required to do so—

              (i)     in accordance with a specified marketing, business or technical plan or system; and

              (ii)     under a common format or procedure (or format and procedure); and

        (b)     to use a mark or common trade name, in such a manner that the business carried on by the franchisee is, or is capable of being, identified by the public as being substantially associated with the mark or name identifying, commonly connected with or controlled by the franchisor or a related person;

“franchisee” has the meaning given in the definition of “franchise arrangement”;
“franchisor” has the meaning given in the definition of “franchise arrangement”;
“futures broker” has the same meaning as in the Corporations Law ;
“futures contract” has the same meaning as in the Corporations Law ;
“general insurance” has the meaning given by section 175;
“hire of goods” has the meaning given by section 152;
“hire purchase agreement” means a letting of goods with an option to purchase and an agreement for the purchase of goods by instalments (whether the agreement describes the instalments as rent or hire or otherwise), but does not include any agreement—

        (a)     by which the property in the goods the subject of the agreement passes at the time of the agreement or on or at any time before the delivery of the goods; or

        (b)     for the letting of goods, or for the purchase of goods, together with a letting or purchase of—

              (i)     real property or an estate or interest in real property; or

              (ii)     a business or an interest in a business;

“hiring charges” has the meaning given by section 155;
“hospital” means a recognised hospital within the meaning of the Health Insurance Act 1973 of the Commonwealth;
“identification code”, in relation to an SCH participant, means a code that, for the purpose of the SCH business rules, is the SCH participant's identification code or 1 of the SCH participant's identification codes;
“impressed stamp” means a stamp impressed by means of a die or other device made pursuant to section 233 ;
“index trust” means any of the following:

        (a)     Benchmark Australian All Ordinaries Trust;

        (b)     Australian Index Trust;

        (c)     Industrial Index Trust;

        (d)     Resources Index Trust;

        (e)     Property Index Trust;

        (f)     Gold Index Trust;

        (g)     Tower 20 Leaders Index Trust;

“instalment warrant” means a warrant—

        (a)     that is issued by the warrant issuer in accordance with the Business Rules of the Australian Stock Exchange;

        (b)     that is an option contract within the meaning of section 9 of the Corporations Law ;

        (c)     that provides beneficial ownership in respect of marketable securities that are quoted on the market operated by the Australian Stock Exchange; and

        (d)     that provides legal ownership of marketable securities to the warrant holder on payment of the final instalment, being a payment that the warrant holder makes under the terms of issue of the warrant;

“instrument” includes a written document and a written statement;
“insurance” includes assurance;
“insurance intermediary” has the same meaning as in the Insurance (Agents and Brokers) Act 1984 of the Commonwealth;
“insurer” has the meaning given by section 175 ;
“intellectual property” means—

        (a)     a business name, trading name, trade mark, industrial design, patent, registered design or copyright; or

        (b)     a right, whether or not under a franchise arrangement, to use or exploit—

              (i)     a business name, trading name, trade mark or industrial design; or

              (ii)     a thing, system or process that is the subject of a patent, registered design or copyright (or an adaptation or modification of such a thing, system or process);

“interest” includes an estate, an interest under a lease or a sublease, a proprietary right and a beneficial interest;
“interest”, in relation to a land-rich corporation, has the meaning given by subsection 83 (1);
“international trade insurance” means—

        (a)     insurance of freight against loss or damage in the course of, or incidental to, international transport of the freight;

        (b)     insurance of an aircraft or ship against loss or damage during a particular period when the aircraft or ship is under construction or undergoing refitting, maintenance or repairs where, at the time the insurance was effected, the aircraft or ship was intended by the owner to be used wholly or principally for the international transport of freight for an indefinitely continuing period commencing immediately after the completion of the construction, refitting, maintenance or repairs, as the case may be;

        (c)     insurance of an aircraft or ship against loss or damage in the course of, or incidental to, a particular journey or journeys where, at the time the insurance was effected, it was intended by the owner that the journey or journeys would be wholly or principally for the international transport of freight; or

        (d)     insurance of an aircraft or ship against loss or damage during a particular period where, at the time the insurance was effected, the aircraft or ship was intended by the owner to be used during that period wholly or principally for the international transport of freight;

“international transport”, in relation to freight, means the transport, in connection with trade or commerce, of the freight between—

        (a)     a place in a foreign country; and

        (b)     a place in—

              (i)     another foreign country;

              (ii)     Australia; or

              (iii)     an external Territory;

“IR” means any security, not being an option contract within the meaning of section 9 of the Corporations Law , issued by a trustee that provides—

        (a)     beneficial ownership, to the holder of the security, of marketable securities that are quoted on the market operated by the Australian Stock Exchange; and

        (b)     legal ownership of the marketable securities to the holder of the security on payment of the final instalment, being a payment that the holder is obliged to make under the terms of issue of the security;

“land” includes a stratum;
“land used for primary production” means land used primarily for—

        (a)     the cultivation of the land for the purpose of selling the produce of the cultivation;

        (b)     the maintenance of animals or poultry on the land for the purpose of selling them or their natural increase or bodily produce;

        (c)     the keeping of bees on the land for the purpose of selling their honey;

        (d)     a plant nursery;

        (e)     the propagation for sale of mushrooms, orchids or flowers; or

        (f)     aquaculture;

“land use entitlement” means an entitlement to occupy land within the Territory 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” has the meaning given by section 133 ;
“life company” has the same meaning as in the Life Insurance Act 1995 of the Commonwealth;
“life insurance” has the meaning given by section 175;
“majority shareholder”, in relation to a private company, means—

        (a)     in the case of a company the voting shares in which are not divided into classes—a person entitled to not less than 50% of those shares, and

        (b)     in the case of 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 Law that complies with Chapter 5C of that Law, and includes a public unit trust scheme;
“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;
“marketable securities”, except in Chapter 4, means the following:

        (a)     shares referred to in paragraph 10 (d);

        (b)     units referred to in paragraph 10 (e);

        (c)     relevant interests referred to in paragraph 10 (f);

        (d)     an interest in shares, units or relevant interests referred to in paragraphs (a), (b) and (c) (other than an interest described in subparagraph 10 (l) (iii));

“mortgage” means any charge on land created merely for securing a debt;
“Motor Traffic Act” means the Motor Traffic Act 1936 ;
“motor vehicle” means—

        (a)     a motor vehicle or trailer within the meaning of the Motor Traffic Act ; or

        (b)     a caravan;

“new motor vehicle” means a motor vehicle that has not previously been registered under the Motor Traffic Act or the law of another Australian jurisdiction;
“non-commercial Commonwealth authority” means a body corporate (not being an incorporated company, society or association) that—

        (a)     is incorporated for a public purpose by or under a law of the Territory or the Commonwealth; and

        (b)     does not have as its sole or principal function the carrying on of an activity in the nature of a business, whether or not for profit;

“partnership interest” has the meaning given by paragraph 10 (i);
“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;
“private company” means a company that is not limited by shares, or whose shares are not listed on the Australian Stock Exchange or a recognised stock exchange;
“private corporation” has the meaning given by section 78;
“private unit trust scheme” means a unit trust scheme that is not a public unit trust scheme;
“proper SCH transfer” has the same meaning as in section 9 of the Corporations Law ;
“public unit trust scheme” means a unit trust scheme—

        (a)     any of the units of which are listed for quotation on the Australian Stock Exchange or on a recognised stock exchange;

        (b)     that is the subject of a deed that is an approved deed for the purposes of Division 5 of Part 7.12 of the Corporations Law or a corresponding law, but only if—

              (i)     some or all of its units have been offered to the public; and

              (ii)     no fewer than 50 persons hold units in it;

        (c)     that is a managed investment scheme within the meaning of the Corporations Law that complies with Chapter 5C of that Law and in respect of which—

              (i)     some or all of the units have been offered to the public; and

              (ii)     not less than 50 persons hold units in it;

        (d)     that is exempted from the requirements of Part 7.12 of the Corporations Law and in respect of which—

              (i)     some or all of the units have been offered to the public; and

              (ii)     not less than 50 persons hold units in it; or

        (e)     that, in the opinion of the Commissioner, will be a public unit trust scheme within 12 months after the Commissioner gives written notification of that opinion to a person who has requested the Commissioner to express that opinion in relation to the unit trust scheme;

“recognised stock exchange” means a stock exchange recognised in accordance with the Business Rules of the Australian Stock Exchange;
“registered independent options trader” has the same meaning as in the Business Rules of the Australian Stock Exchange;
“registered insurer” means an insurer registered under Part IV of Chapter 8;
“related body corporate” has the same meaning as in the Corporations Law ;
“related person” means a person who is related to another person in accordance with any of the following provisions:

        (a)     natural persons are related persons if—

              (i)     one is the spouse or domestic partner of the other; or

              (ii)     the relationship between them is that of parent and child, brothers, sisters, or brother and sister;

        (b)     private companies are related persons if they are related bodies corporate within the meaning of the Corporations Law ;

        (c)     a natural person and a private company are related persons if the natural person is a majority shareholder or director of the company or of another private company that is a related body corporate of the company within the meaning of the Corporations Law ;

        (d)     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;

        (e)     a private 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;

“relevant interest” has the meaning given by paragraph 10 (f);
“relevant SCH participant”, in relation to an SCH-regulated transfer, means the participant who is liable under Division 1 of Part IV of Chapter 2 to pay duty chargeable in respect of the transfer or, if no duty is chargeable, the SCH participant who would be so liable if duty were chargeable;
“replica” has the meaning given by section 228 ;
“responsible entity”, in relation to a managed investment scheme, has the same meaning as in the Corporations Law ;
“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;
“SCH” means the securities clearing house registered by the Commissioner under Division 2 of Part IV of Chapter 2;
“SCH business rules” has the same meaning as in section 9 of the Corporations Law ;
“SCH participant” has the same meaning as in section 9 of the Corporations Law ;
“SCH-regulated transfer” has the same meaning as in section 9 of the Corporations Law ;
“scheme” includes—

        (a)     an agreement, arrangement, understanding, promise or undertaking, whether express or implied and whether or not enforceable, or intended to be enforceable, by legal proceedings; or

        (b)     a plan, proposal, action, course of action or course of conduct, whether unilateral or otherwise;

“SEATS” means the Stock Exchange Automated Trading System operated by the Australian Stock Exchange;
“shares” includes rights to shares;
“solicitor” means a legal practitioner who practises as a solicitor, either on his or her own account or as a member of a partnership;
“special hiring agreement” means a written agreement for the hire of goods—

        (a)     that describes the goods in such a way as to enable the nature or character of the goods to be clearly and readily identified, including the number of items; and

        (b)     that does not include—

              (i)     provisions under which the goods may, at any time, be replaced in whole or in part by other goods, except to the extent that the agreement allows replacement if the goods—

    (A)     are lost, destroyed or stolen;

    (B)     fail or malfunction in the normal course of operation or use; or

    (C)     are temporarily replaced during the servicing, maintenance or repair of the goods; or

              (ii)     provisions under which other goods, whether of the same or a different type, may be additionally provided;

“spouse”, in relation to a person, includes another person who is in a domestic relationship within the meaning of the Domestic Relationships Act 1994 with the person;
“subsidiary” of a private corporation has the meaning given by subsection 81 (3) or (5);
“ Taxation Administration Act” means the Taxation Administration Act 1999 ;
“tax avoidance scheme” means a scheme where the person who has, or 1 or more of the persons who have, entered into or carried out the scheme or a part of the scheme did so for the purpose of securing—

        (a)     that an amount of duty would not be payable by a person, being an amount that would have been, or might reasonably be expected to have been, payable by the person;

        (b)     that an amount of duty payable by a person would be less than the amount that would have been, or might reasonably be expected to have been, payable by the person; or

        (c)     that a refund of duty would be payable to a person, being a refund that would not have been or might reasonably be expected not to have been, payable to the person;

if the scheme had not been entered into or carried out, or for purposes of which that purpose was the dominant purpose;

“tenement” includes an office, room or apartment in a tenement;
“Territory company” means a company incorporated, or taken to be incorporated, under the Corporations Law of the Territory and includes a body corporate that is incorporated under any Territory Act and that is not a company incorporated, or taken to be incorporated, under the Corporations Law of a State or another Territory;
“trading stock”, in relation to a vehicle dealer licensed under the Sale of Motor Vehicles Act 1977 or a corresponding law, means a vehicle offered or exposed for sale by the dealer in the course of the dealer's business, except a vehicle used—

        (a)     personally by the dealer or a member of the dealer's staff; or

        (b)     for the general purposes of the dealer's business;

“transfer” includes an assignment and an exchange;
“transfer document” has the same meaning as in section 1097 of the Corporations Law ;
“transfer identifier for an SCH-regulated transfer” means the distinctive number allocated to the transfer by SCH;
“transfer value of marketable securities” means—

        (a)     in the case of a transfer on sale—the consideration for the sale or the unencumbered value of the marketable securities at the date of completion of the transfer, whichever is the greater; or

        (b)     in any other case—the unencumbered value of the marketable securities at the date of completion of the transfer;

“trustee” includes—

        (a)     a person who is a trustee under an implied or constructive trust;

        (b)     in relation to a deceased person—an executor of the will, or an administrator of the estate, of the deceased person;

        (c)     a receiver, guardian, committee or manager of the property of a person under a legal or other disability;

        (d)     a receiver or manager of the property of a company, or a liquidator of a company for the purpose of its winding up;

        (e)     a broker who executes a transfer of a marketable security as transferee on behalf of another person for the purpose of safeguarding the interests of that person in relation to dividends payable to the holder of the marketable security or in relation to the issue of other marketable securities to which the holder of the first-mentioned marketable security becomes entitled because of being the holder;

        (f)     a person who holds a marketable security for the benefit of another person; and

        (g)     a person who may be required to exercise his or her voting power in relation to a marketable security at the direction of another person;

“unencumbered value” has the meaning given by section 22;
“unit”, in relation to a unit trust scheme, means—

        (a)     a right or interest (whether described as a unit or a sub-unit or otherwise) of a beneficiary under the scheme; or

        (b)     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;
“variation”, in relation to a lease, means a variation made for any reason or on any basis and includes a further variation;
“warrant” means an option contract within the meaning of the Corporations Law that is admitted to trading status on the stock market of the Australian Stock Exchange in accordance with section 8 of the Business Rules of the Australian Stock Exchange;
“warrant-issuer” means a person who is a warrant-issuer under the Business Rules of the Australian Stock Exchange.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback