Australian Capital Territory Numbered Acts Australian Capital Territory Numbered Actsinsert
Chapter 15 Transitional—Duties Amendment Act 2006 (No 2)
Part 15.1 Transitional—hire of goods
Note to pt 15.1
The Duties Amendment Act 2006 (No 2) inserted s 173A which provides for the expiry of ch 6 (Hire of goods) on 30 June 2007.
410 Application of ch 6 to hiring charges received by commercial hire business before 1 July 2007
(1) The repeal of chapter 6 (Hire of goods) by section 173A (Expiry—ch 6) does not affect any obligation to pay duty under part 6.3 (Arrangements applying to people engaged in business of hiring out goods) in relation to hiring charges received by a commercial hire business before 1 July 2007 and, for that purpose, that part continues to apply as if it had not been repealed.
(2) In particular, section 169 (Lodgment of returns and payment of duty) continues to apply so that a commercial hire business—
(a) is required to lodge a return in accordance with that section in relation to each month before July 2007; and
(b) may request a reassessment of duty under section 169 (6).
(3) This section applies whether or not the hire to which the charges relate is for a period after 30 June 2007.
411 Application of ch 6 to hire of goods entered into before 1 July 2007
(1) The repeal of chapter 6 (Hire of goods) by section 173A (Expiry—ch 6) does not affect any obligation to pay duty under part 6.4 (Arrangements applying to people other than those engaged in business of hiring out goods) in relation to a hire of goods entered into before 1 July 2007.
(2) For that purpose—
(a) part 6.4 continues to apply to a hire of goods entered into before 1 July 2007 but only if the first or only payment of hiring charges is paid or becomes payable before that date; and
(b) no refund of duty is payable in relation to any part of the hiring charges that is paid or becomes payable after 30 June 2007.
(3) Subsection (2) does not prevent a reassessment of duty being made under section 169 (6) as in force immediately before its repeal.
(4) This section applies whether or not the hire to which the charges relates is for a period after 30 June 2007.
412 Application of ch 6 to certain arrangements
(1) In this section:
"repealed provisions" means the provisions mentioned in section 173A (Expiry—ch 6) as those provisions were in force immediately before their expiry.
(2) Despite their expiry, the repealed provisions apply to a hire of goods mentioned in repealed chapter 6 (Hire of goods) if—
(a) the hire of goods replaces a hire of goods that was entered into before 1 July 2007; or
(b) another arrangement was made before 1 July 2007 the only or main purpose of which was to defer the hire of goods until 1 July 2007 or later so that chapter 6 would not apply to it.
(3) This section is a law to which the Legislation Act, section 88 (Repeal does not end effect of transitional laws etc) applies.
413 Transitional regulations—pt 15.1
(1) A regulation may prescribe transitional matters necessary or convenient to be prescribed because of the enactment of section 173A (Expiry—ch 6) by the Duties Amendment Act 2006 (No 2) .
(2) A regulation may modify this part to make provision in relation to anything that, in the Executive's opinion, is not, or is not adequately or appropriately, dealt with in this part.
(3) A regulation under subsection (2) has effect despite anything elsewhere in this Act.
(4) A regulation under subsection (2) expires 12 months after the day it commences.
414 Expiry—pt 15.1
This part expires on 30 June 2012.
Part 15.2 Transitional—lease instruments
Note to pt 15.2
The Duties Amendment Act 2006 (No 2) inserted s 150A which provides for the expiry of ch 5 (Lease instruments) on 30 June 2009.
420 Application of ch 5 to leases entered into before 1 July 2009
(1) The repeal of chapter 5 (Lease instruments) by section 150A (Expiry—ch 5)does not affect any obligation to pay duty under chapter 5 in relation to a lease first executed before 1 July 2009 and, for that purpose, the chapter continues to apply as if it had not been repealed.
(2) However, section 139 (2) does not apply in relation to a variation to a lease if the variation is made after 30 June 2009.
(3) Also, the following provisions apply if a lease executed before 1 July 2009 has any unascertainable cost components for which there is an estimate date after 30 June 2009:
(a) on the first estimate date after 30 June 2009 (the final estimate date ), the commissioner must make a final estimate of the cost of the lease;
(b) section 144 (3) applies (with any necessary changes) for the making of the final estimate;
(c) the lease instrument is chargeable with duty as if the final estimate were the full cost of the lease;
(d) no further estimates of the cost of the lease are to be made (despite section 144 (5));
(e) section 144 (7) applies only to the final estimate date or an estimate date that happens before the final estimate date;
(f) sections 144 (9) and (10) do not apply in relation to any period after the final estimate date.
421 Application of ch 5 to certain arrangements
(1) In this section:
"repealed provisions" means the provisions mentioned in section 150A (Expiry—ch 5) as those provisions were in force immediately before their expiry.
(2) Despite their expiry, the repealed provisions apply to a lease instrument mentioned in repealed chapter 5 (Lease instruments) if—
(a) the lease instrument replaces a lease instrument evidencing or effecting a lease that was entered into before 1 July 2009; or
(b) another arrangement was made before 1 July 2009 the only or main purpose of which was to defer the execution of, or a variation to, the lease instrument until 1 July 2009 or later so that chapter 5 would not apply to the lease instrument.
(3) Without limiting subsection (2), the commissioner must not refund duty under section 148 (Reassessment of duty—early termination) on a lease instrument evidencing or effecting a lease of property if satisfied that the lessee or any associated person will continue to lease the property under a new arrangement.
(4) This section is a law to which the Legislation Act, section 88 (Repeal does not end effect of transitional laws etc) applies.
422 Transitional regulations—pt 15.2
(1) A regulation may prescribe transitional matters necessary or convenient to be prescribed because of the enactment of section 150A (Expiry—ch 5) by the Duties Amendment Act 2006 (No 2) .
(2) A regulation may modify this part to make provision in relation to anything that, in the Executive's opinion, is not, or is not adequately or appropriately, dealt with in this part.
(3) A regulation under subsection (2) has effect despite anything elsewhere in this Act.
(4) A regulation under subsection (2) expires 12 months after the day it commences.
423 Expiry—pt 15.2
This part expires on 30 June 2014.
Part 15.3 Transitional—unquoted marketable securities
Note to pt 15.3
The Duties Amendment Act 2006 (No 2) inserted s 75A which provides for the expiry of provisions relating to duty on unquoted marketable securities on 30 June 2010.
430 Application of repealed provisions to certain arrangements
(1) In this section:
"repealed provisions" means the provisions mentioned in section 75A (Expiry—provisions relating to unquoted marketable securities) as those provisions were in force immediately before their expiry.
(2) Despite their expiry, the repealed provisions and chapter 2 and chapter 3 as in force immediately before the expiry apply to a transfer or transaction in relation to dutiable property mentioned in the repealed provisions if—
(a) the transfer or transaction replaces a transfer or transaction that was entered into before 1 July 2010; or
(b) another arrangement was made before 1 July 2010 the only or main purpose of which was to defer the transfer or transaction until 1 July 2010 or later so that chapter 2 would not apply to it.
(3) This section is a law to which the Legislation Act, section 88 (Repeal does not end effect of transitional laws etc) applies.
431 Transitional regulations—pt 15.3
(1) A regulation may prescribe transitional matters necessary or convenient to be prescribed because of the enactment of section 75A (Expiry—provisions relating to unquoted marketable securities) by the Duties Amendment Act 2006 (No 2) .
(2) A regulation may modify this part to make provision in relation to anything that, in the Executive's opinion, is not, or is not adequately or appropriately, dealt with in this part.
(3) A regulation under subsection (2) has effect despite anything elsewhere in this Act.
(4) A regulation under subsection (2) expires 12 months after the day it commences.
432 Expiry—pt 15.3
This part expires on 30 June 2015.