{"id":"duties-act-2000","name":"Duties Act 2000","slug":"duties-act-2000","collection":"act","jurisdiction":"vic","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":178026,"registerId":"vic-duties-act-2000-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part 5","sectionType":"part","heading":"Exemptions and concessional rates of duty 149","content":"Part 5—Exemptions and concessional rates of duty 149\n\n","sortOrder":0},{"sectionNumber":"Div 1","sectionType":"division","heading":"Trusts 149","content":"Division 1—Trusts 149\n\n32XJ Definitions 149\n\n32Y References to dutiable property 149\n\n33 Change in trustees 150\n\n34 Property vested in an apparent purchaser 151\n\n35 Transfers to and from a trustee or nominee 154\n\n35A Custodian transfers 155\n\n36 Property passing to beneficiaries of fixed trusts 156\n\n36A Property passing to beneficiaries of discretionary trusts 158\n\n36B Property passing to unitholders in unit trust schemes 161\n\n36C Effect of certain mortgages on trust exemptions 165\n\n37 Establishment of a trust relating to unidentified property and non‑dutiable property 167\n\n38 Exemptions from duty under section 37 167\n\n38A Special disability trusts 168\n\n38AB Building requirement—special disability trusts 171\n\n38AC Residence requirement—special disability trusts 171\n\n38AD Variation of residence requirement—special disability trusts 171\n\n38AE Liability for duty if residence requirement not complied with—special disability trusts 172\n\n38AF Trustee to notify Commissioner of change in circumstances—special disability trusts 173\n\nDivision 2—Superannuation 174\n\n38B References to dutiable property 174\n\n39 Instruments relating to superannuation 174\n\n40 Transfer of property from one superannuation fund to another 175\n\n41 Transfers to trustees or custodians of superannuation funds or trusts 176\n\n41A Property passing to beneficiaries of superannuation funds 177\n\nDivision 3—Other general exemptions and concessions 178\n\n41B References to dutiable property 178\n\n42 Deceased estates 179\n\n43 Marriage and domestic relationships—transfer of principal place of residence 179\n\n43AA Circumstances in which consideration does not include a mortgage 180\n\n43A Residence requirement for section 43 exemption 181\n\n43B Variation of residence requirement for section 43 exemption 181\n\n43C Liability for duty if residence requirement for section 43 exemption not complied with 182\n\n43D Persons must notify Commissioner of change in circumstance—section 43 exemption 183\n\n44 Breakdown of marriage and domestic relationships 184\n\n45 Charities 188\n\n45A Health centres and services 188\n\n46 Co-operatives 190\n\n47 Government bodies and diplomats 191\n\n47A Transfer to Victorian Rail Track 192\n\n48 Bankruptcies and administrations 194\n\n48A Amalgamation of industrial organisations 195\n\n49 Leases of residential sites in caravan parks 195\n\n50A Conversion of land use entitlements to different form of title 196\n\nDivision 4—Exemptions and concessions in relation to land 197\n\n50B References to dutiable property 197\n\n51 Public rights of way 197\n\n52 Government bodies 198\n\n52A Joint government enterprise—water saving projects 198\n\n53 Defence service homes 199\n\n54 Joint tenants and tenants in common 199\n\n55 Equity release programs 199\n\n55A Shared equity arrangements 203\n\n55B Commonwealth Help to Buy arrangements 203\n\n56 Transfers of farms to relatives or charities 204\n\n57 Subsequent transfer not dutiable if duty paid on lease 206\n\n57A Land sold initially to financial institution and natural person and then leased to natural person 207\n\n57B Land sold initially to financial institution and then re‑sold to natural person 207\n\n57C Land sold initially to financial institution and then leased to natural person 208\n\n57D Land sold initially to natural person, beneficial interest then transferred to financial institution 209\n\n57E Change of financial institution 210\n\n57F If the natural person dies 210\n\n57FA Dealing with fixtures separately from land 211\n\n57FB Calculation of duty for aggregated transactions involving fixtures and land 212\n\n57FC Exemption or concession for new homes in City of Melbourne 213\n\nDivision 4A—Principal places of residence and first home buyers 215\n\n57G Definitions 215\n\n57H Land to which this Division applies 217\n\n57I What is a PPR transfer? 217\n\n57J Rates of duty for certain PPR transfers 219\n\n57JA First home buyer exemption or concession on PPR transfers 220\n\n57JB Requirements—first home buyers 221\n\n57K Residence requirement 223\n\n57L Variation of residence requirement 225\n\n57M Liability for duty if residence requirement not complied with 227\n\n57N Transferee to notify Commissioner of change in circumstances 229\n\nDivision 4B—Principal places of residence and persons with a disability 230\n\n57O Definitions 230\n\n57P Exemption for transfer of principal place of residence to person with a disability 230\n\n57Q Qualifying requirement 231\n\n57R Building requirement 232\n\n57S Residence requirement 232\n\n57T Variation of residence requirement 232\n\n57U Liability for duty if residence requirement not complied with 233\n\n57V Transferee to notify Commissioner of change in circumstances 234\n\nDivision 5—Pensioner and concession card and eligible first home owner exemptions and concessions 235\n\n58AA Definitions 235\n\n58 Who is an eligible cardholder? 236\n\n59 Land to which an eligible cardholder exemption or concession may apply 237\n\n60 Eligible cardholder exemption or concession 238\n\n60AA Eligible cardholder exemption or concession requirements 239\n\n60AAB Residence requirement 242\n\n60AAC Variation of residence requirement 243\n\n60AAD Liability for duty if residence requirement not complied with 244\n\n60AAE Persons must notify Commissioner of change in circumstance 246\n\n60A Election to receive exemption/concession 246\n\n61 Who is an eligible first home owner? 249\n\n62 Eligible first home owner exemption or concession where dwelling exists at the time of transfer 250\n\n63 Eligible first home owner exemption or concession where dwelling is constructed after transfer 252\n\n63A Temporary suspension of first home owner exemption or concession 253\n\n63B Election to receive eligible first home owner exemption/concession or additional first home owner grant 253\n\n64 Double duty for false or misleading statements 255\n\nDivision 5A—Commercial and industrial land in regional Victoria 256\n\n64A Definitions 256\n\n64B Reduction in duty in relation to eligible transfers 258\n\n64C Calculation of duty for certain aggregated transactions 258\n\n64D Election to receive reduction or other concession or exemption 260\n\n64E Use requirement 260\n\n64F Variation of use requirement 260\n\n64G Liability for duty if use requirement not complied with 261\n\n64H Transferee to notify Commissioner of change in circumstances 261\n\nDivision 6—Exemptions and concessions in relation to marketable securities 262\n\n65 Co-operatives and co-operative housing societies 262\n\n66 Loans and temporary transfers 262\n\n67 Nomineeing transactions—unquoted marketable securities 263\n\n68 Share buy-backs 264\n\n69 Reduction of duty—payment in non-Australian jurisdiction 264\n\nDivision 7—Young farmers 264\n\n69AA Definitions 264\n\n69AB Disqualifying interest 266\n\n69AC Primary production requirement 268\n\n69AD Exemption or concession for young farmers 269\n\n69AE Calculation of exemption or concession on transfer of single parcel of land or partial interest in single parcel of land 270\n\n69AF Calculation of exemption on transfer of multiple parcels and partial interests of land 271\n\n69AG Election to receive young farmer exemption/concession or principal place of residence concession 272\n\n69AH Liability for duty if primary production requirement not complied with 273\n\n69AI Farmer to notify Commissioner of change in circumstances 274\n\n","sortOrder":1},{"sectionNumber":"Div 8","sectionType":"division","heading":"Exemption from additional duty for foreign purchasers 274","content":"Division 8—Exemption from additional duty for foreign purchasers 274\n\n69AJ Certain foreign purchasers exempt from additional duty under section 28A 274\n\n69AK Variation of residence requirement for exemption 275\n\n69AL Liability for additional duty if residence requirement not complied with 276\n\n69AM Foreign purchasers must notify Commissioner of change in circumstance 277\n\n","sortOrder":2},{"sectionNumber":"Div 9","sectionType":"division","heading":"Tax reform scheme transactions 278","content":"Division 9—Tax reform scheme transactions 278\n\n69AN Tax reform scheme transactions 278\n\n69AO Exemption—3 years after entry transaction 279\n\n69AP Exemption—tax reform scheme land fully assessed for duty 281\n\n69AQ Exemption—tax reform scheme land partially assessed for duty 282\n\n69AQA Exemption or duty reduction—non-standard transaction 283\n\n69AQB Exemption—dutiable goods 285\n\n69AQC Application of Division to subdivided tax reform scheme land 286\n\n69AR Liability for duty if change of land use after tax reform scheme land exemption 287\n\n69AS Apportionment of duty imposed on change of land use if land has been subdivided 289\n\n69AT Duty imposed on change of land use if land has been consolidated 290\n\nPart 6—Tax avoidance schemes 291\n\n69A Imposition of duty 291\n\n69B What is a tax avoidance scheme? 291\n\n69C Anti-avoidance provision 292\n\n69D Misleading information 293\n\nChapter 3—Certain transactions treated as transfers 294\n\nPart 1—Introduction and overview 294\n\n70 Imposition of duty 294\n\nPart 2—Acquisition of interests in certain landholders 295\n\nDivision 1—Landholders 295\n\n71 Meaning of *landholder* 295\n\n72 What are land holdings? 297\n\n72A Land holdings of unit trust schemes where section 32XD applies 297\n\n73 What does land include? 298\n\n74 Effect of uncompleted agreements 299\n\n75 Constructive ownership of land holdings—linked entities 299\n\n76 Constructive ownership of land holdings—discretionary trusts 301\n\nDivision 2—Charging of duty 302\n\n77 When does a liability for duty arise? 302\n\n78 What is a *relevant acquisition*? 302\n\n79 What are *interests* and *significant interests* in landholders? 303\n\n80 How may an interest be *acquired*? 305\n\n81 Acquisition of economic entitlement in relation to private landholder 306\n\n82 Acquisition of control 308\n\n83 Acquisition statements 309\n\n84 When must duty be paid? 310\n\n85 Who is liable to pay the duty? 310\n\n86 How duty is charged on relevant acquisitions in private landholders 311\n\n87 How duty is charged on relevant acquisitions in public landholders—concessional rate 312\n\n88 How duty is charged on relevant acquisitions in public landholders—non‑concessional rate 313\n\n89 Phasing-in of duty 314\n\n89A Reduction in marketable securities duty 314\n\n89B Conversion of a private unit trust scheme or wholesale unit trust scheme to a public unit trust scheme 315\n\n89C Conversion of a private company to a listed company 317\n\nDivision 3—Exemptions and concessions 318\n\n89D Exemptions 318\n\n89E Duty concession—anomalous duty outcome 319\n\n89F Duty concession—acquisitions securing the provision of finance 319\n\nDivision 3A—Tax reform scheme land 321\n\n89FA Value of certain tax reform scheme land holdings to be excluded from duty assessment 321\n\n89FAB Exclusion or partial exclusion of value of certain land holdings 323\n\n89FAC Application of Division to subdivided tax reform scheme land 326\n\n89FB Liability for duty if change of land use after tax reform scheme land exemption 327\n\n89FC Apportionment of duty imposed on change of land use if land has been subdivided 329\n\n89FD Duty imposed on change of land use if land has been consolidated 329\n\nDivision 4—Valuation and supplementary calculation provisions 329\n\n89G Valuation of land holdings 329\n\n89H Maximisation of entitlements on distribution of land holdings 330\n\n89I Agreements for sale, transfer or purchase of land 332\n\n89J Re-purchase facilities—widely held trusts 333\n\n89K Re-purchase facilities—wholesale unit trust schemes 334\n\nDivision 5—Tax avoidance schemes 336\n\n89L Imposition of duty 336\n\n89M What is a tax avoidance scheme? 336\n\n89N Anti-avoidance provision 337\n\n89O Misleading information 338\n\nDivision 6—Registration of unit trust schemes 339\n\n89P Definitions 339\n\n89PA Fund manager of Victorian Future Fund is qualified investor 342\n\n89Q Application for registration 343\n\n89R Registration of declared public unit trust schemes 343\n\n89S Registration of wholesale unit trust schemes 344\n\n89T Registration of imminent wholesale unit trust schemes 345\n\n89U Registration of declared wholesale unit trust schemes 346\n\n89V Duration of registration 346\n\n89W Reporting requirements 347\n\n89X Disqualifying circumstances for certain unit trust schemes 347\n\n89Y Cancellation of registration 349\n\nPart 3—Entitlements arising from capital reductions or rights alterations 351\n\n90 Definitions 351\n\n91 When does a liability for duty arise? 352\n\n92 When must duty be paid? 352\n\n93 Who is liable to pay the duty? 352\n\n94 Entitlement to voting shares arising from capital reduction or rights alteration 353\n\n95 Content of statement 353\n\n96 Assessment of duty 354\n\nPart 4—Allotment of shares by direction 355\n\n97 Application of Part 355\n\n98 When does a liability for duty arise? 355\n\n99 When must duty be paid? 355\n\n100 Who is liable to pay the duty? 355\n\n101 Acquisition of shares by allotment 356\n\n102 Allotment statement 356\n\n103 Assessment of duty 356\n\nPart 5—Acquisition of land use entitlements by allotment of shares or issue of units 357\n\n103A When does a liability for duty arise? 357\n\n103B When must duty be paid? 357\n\n103C Who is liable to pay the duty? 357\n\n103D Acquisition of land use entitlement 357\n\n103E Form of statement 357\n\n103F Assessment of duty 358\n\nChapter 4—Financial sector (transfer and restructure) 359\n\n104 Imposition of duty 359\n\n105 When does a liability for duty arise? 359\n\n106 Who is liable to pay the duty? 359\n\n107 Statement on transfer of property 359\n\n108 Assessment of duty 360\n\n109 Exemption 360\n\nChapter 6—Hire of goods 361\n\nPart 1—Introduction and overview 361\n\n125 Imposition of duty 361\n\n125A Hire of goods duty abolished from January 2007 361\n\n126 What is a commercial hire business? 361\n\n127 Hire of goods to which this Chapter applies—jurisdictional nexus 361\n\n128 What are *goods*? 362\n\n129 What is a *hire of goods*? 362\n\n130 What is an *equipment financing arrangement*? 363\n\n131 What form may a hire of goods take? 363\n\n132 Exclusions from the definition of *hire of goods* 363\n\n133 Special hiring agreements 365\n\n134 What is the rate of duty? 366\n\n135 What are *hiring charges*? 366\n\n136 Payments exempted from *hiring charges* 366\n\n137 Credit for duty paid in another Australian jurisdiction 367\n\n138 Splitting or redirection of hiring charges (anti‑avoidance provision) 367\n\n139 Ascertainment and disclosure of place of use of goods 367\n\nPart 2—Registration of commercial hire businesses and payment of duty 369\n\n140 Commercial hire businesses must be registered 369\n\n141 Registration of commercial hire businesses 369\n\n142 Cancellation of registration of commercial hire business 369\n\n143 Register of commercial hire businesses 371\n\n144 Duty base 371\n\n145 Lodgement of returns and payment of duty 372\n\n146 Statement of special hiring agreement 373\n\n147 Lodgement of statement and payment of duty 374\n\nChapter 7—Mortgages 375\n\nPart 1—Introduction and overview 375\n\n148 Imposition of duty 375\n\n148A Mortgage duty abolished from July 2004 375\n\n149 What is a *mortgage*? 375\n\n150 What is an advance? 376\n\n151 Who is liable to pay the duty? 377\n\n152 When does a liability arise? 377\n\n153 When must duty be paid? 378\n\n154 How is mortgage duty charged? 378\n\n155 Extent mortgage is enforceable 378\n\n156 Where is property located? 379\n\nPart 2—Calculating the amount secured by a mortgage 381\n\n157 Secured amount 381\n\n158 Contingent liabilities 382\n\n159 Mortgages over property not wholly within Victoria 382\n\n160 Advances secured by mortgage package 385\n\n161 Stamping before advance 386\n\n162 Security 387\n\n163 Exchange of information 387\n\n164 Collection of duty and endorsement of instruments 388\n\n165 Collateral securities 388\n\nPart 3—Duty concessions 389\n\n166 Refinancing of loans 389\n\n167 Eligible mortgages under concession schemes 391\n\nPart 4—Exemptions 393\n\n168 Exempt mortgages and supporting instruments 393\n\n169 Mortgages associated with certain credit contracts 394\n\n170 Farm machinery and commercial vehicles 396\n\n171 Certain debentures and related instruments 396\n\nPart 5—Miscellaneous 398\n\n172 Payment of duty on mortgages associated with debenture issues 398\n\n173 Unregistered mortgages protected by caveats (anti‑avoidance provision) 400\n\n174 Stamping counterpart or collateral instrument if mortgage is lost, destroyed or cannot be produced 401\n\nChapter 8—Insurance 402\n\nPart 1—Introduction and overview 402\n\n175 Imposition of duty 402\n\nPart 2—General insurance 403\n\nDivision 1—Duty in respect of general insurance 403\n\n176 What is general insurance? 403\n\n177 What is a premium in relation to general insurance? 403\n\n178 When is a premium paid? 404\n\n179 What duty is payable 404\n\n180 Who is liable to pay the duty? 406\n\n181 Circumstances in which duty is payable by the insured person 406\n\n182 Records to be kept 407\n\n183 Refunds where premiums are returned 407\n\nDivision 2—How duty is paid by an insurer 408\n\n184 Who is an *insurer*? 408\n\n185 Certain insurers must be registered 408\n\n186 Registration 409\n\n187 Cancellation of registration by the Commissioner 409\n\n188 Cessation of business and cancellation of registration by the insurer 410\n\n189 Register of insurers 410\n\n190 Monthly returns and payment of duty 411\n\n191 Recovery of duty by registered insurer 411\n\nDivision 3—Apportionment of premiums and other amounts between States and Territories 411\n\n192 Application of Division 411\n\n193 Schedule of Apportionment 412\n\n194 Apportionment in practice 412\n\nDivision 4—Apportionment of premiums and other amounts as between different types of insurance 413\n\n195 Apportionment between different types of insurance 413\n\nDivision 5—Exempt insurance 413\n\n196 What insurance is exempt from duty? 413\n\n196A Life insurance 417\n\n196B Life insurance policy riders 417\n\nDivision 6—Miscellaneous 418\n\n197 Effect on contract of insurance of failure to comply with this Chapter 418\n\nPart 4—Transport accident charges 420\n\n209 Imposition of duty 420\n\n210 Who is liable to pay the duty? 420\n\n211 Rate of duty 420\n\n212 How is duty paid? 420\n\n213 Refund of duty if transport accident charge is refunded 420\n\nChapter 9—Motor vehicle duty 421\n\nPart 1—Introduction and overview 421\n\n214 Imposition of duty 421\n\n215 Lodgement of statement of dutiable value 421\n\n216 Who is liable to pay the duty? 422\n\n217 When does duty become payable? 423\n\n217A Assessment of duty 424\n\n218 What is the rate of duty? 425\n\n219 What is the dutiable value of a motor vehicle? 427\n\n220 Prohibition on registration of motor vehicles 428\n\nPart 3—Exemptions 429\n\n229 Ownership by devolution of title and deceased estates 429\n\n230 Special dealers—trading stock, demonstrator vehicles and driver education 429\n\n231 Licensed motor car traders—trading stock, demonstrator vehicles, service demonstrator vehicles and driver education 430\n\n232 Applications by interstate licensed motor car traders 431\n\n233 Primary producer vehicles 432\n\n233AA Mobile plant 436\n\n233AB Special purpose vehicles (type P) 436\n\n233A Transport for disabled, handicapped or injured 436\n\n233B Incapacitated person's vehicle 436\n\n233C Private vehicle used to convey incapacitated person 437\n\n233CA Private vehicle to be converted and used to convey incapacitated person 438\n\n233CB Certain wheelchair accessible motor vehicles providing unbooked commercial passenger vehicle services 439\n\n233D Government or charitable vehicle used to convey incapacitated person 442\n\n233E Incapacitated war veteran's vehicle 443\n\n233F Fire fighting and emergency response vehicle 444\n\n233G Consular vehicle 445\n\n233H Repossessions and restorations 445\n\n234A Amalgamation of industrial organisations 446\n\n234B Financial sector (transfer and restructure) 446\n\n235 Marriage and domestic relationships and their breakdown 447\n\n236 Minors and trustees 448\n\n237 Vehicles previously registered in the same name interstate 448\n\nPart 4—Duty on change of use 450\n\n238 Duty on statement of change of use 450\n\nPart 5—Refund of duty 453\n\n240 Entitlement to refund 453\n\nChapter 10—Miscellaneous duties 454\n\nPart 1—Sale of cattle 454\n\n241 Imposition of duty 454\n\n242 What is the rate of duty? 454\n\n243 What is the purchase money? 455\n\nPart 2—Sale of sheep and goats 456\n\n244 Imposition of duty 456\n\n245 What is the rate of duty? 456\n\nPart 3—Sale of pigs 457\n\n246 Imposition of duty 457\n\n247 What is the rate of duty? 457\n\n248 What is the purchase money? 457\n\nPart 4—Registration of approved agents 458\n\n248A Registration of approved agents 458\n\n248B Commissioner to keep register of approved agents 458\n\nChapter 11—General exemptions and concessions from duty 459\n\nPart 1—Security for payment of tax 459\n\n249 Security for payment of tax 459\n\nPart 2—Corporate reconstructions 460\n\nDivision 1—Exemptions and concessions for corporate consolidations and reconstructions 460\n\n250 Definitions 460\n\n250A What is an eligible transaction? 462\n\n250AB What is an arrangement? 466\n\n250B Concession and exemptions for certain transactions arising out of corporate reconstructions, corporate consolidations and arrangements 467\n\n250DG Special provision in relation to landholder duty if there has been a corporate consolidation involving a private unit trust scheme 471\n\n","sortOrder":3},{"sectionNumber":"Div 1B","sectionType":"division","heading":"Exchange of stapled ownership interests for ownership interests in a unit trust scheme 473","content":"Division 1B—Exchange of stapled ownership interests for ownership interests in a unit trust scheme 473\n\n250DH Definitions 473\n\n250DI Concession for relevant acquisitions 474\n\nPart 3—Managed investment schemes 476\n\n251 Managed investment schemes 476\n\nPart 3A—Corporate collective investment vehicles 478\n\n251AA Corporate collective investment vehicles 478\n\nPart 4—Mortgage-backed securities 479\n\n251A Mortgage-backed securities 479\n\n251B Instruments issued for the purpose of creating, issuing or marketing mortgage-backed securities 480\n\nChapter 12—Administration and enforcement 481\n\nPart 1—Stamping instruments 481\n\n251C Definitions 481\n\n252 Provision of stamps 481\n\n253 Limitation on use of designated stamps 481\n\n254 Form of stamps to be used 482\n\n255 Stamping of instruments 482\n\n255A Authentication of payment of duty using on-line duty payment system 482\n\n256 When is an instrument duly stamped? 483\n\n257 Adhesive stamps 483\n\n258 Licences to deal in stamps 484\n\n259 Refunds—spoiled and unused stamps 485\n\n260 Reassessments—failed instruments 485\n\n261 Instruments to be separately charged with duty in certain cases 486\n\n262 Execution of instruments 486\n\n263 Counterparts and replicas 487\n\nPart 2—Authorisation of returns systems 488\n\n264 Authorised persons 488\n\n264A Application for authorisation 488\n\n264B Conditions of authorisation 488\n\n264C Gazettal or service of notices 489\n\n265 Endorsement of instruments by authorised persons 489\n\n266 Payment of duty by authorised persons 490\n\n267 Offset of overpaid amounts 491\n\n268 Unauthorised endorsement 492\n\nPart 3—Enforcement 493\n\n269 Registration of instruments 493\n\n270 Registration of transfer of shares in private companies 493\n\n271 Registration of transfer of units 494\n\n272 Receipt of instruments in evidence 495\n\n273 Valuation of property 496\n\n274 Ascertainment of value of certain items 498\n\n275 Impounding of instruments 498\n\n276 Injunction to prevent unregistered businesses trading 499\n\n277 First charge on land—foreign purchasers of residential property 499\n\n278 Registration of charge 499\n\nChapter 13—General 501\n\n282 Payments from Consolidated Fund 501\n\n282A Imposition of foreign purchaser additional duty 501\n\n283 Regulations 503\n\nChapter 14—Repeals, consequential amendments and transitional provisions 504\n\n286 Transitional provisions 504\n\nSchedules 505\n\n","sortOrder":4},{"sectionNumber":"Sch 1","sectionType":"schedule","heading":"Special purpose vehicles and mobile plant 505","content":"Schedule 1—Special purpose vehicles and mobile plant 505\n\n","sortOrder":5},{"sectionNumber":"Sch 2","sectionType":"schedule","heading":"Transitional provisions 510","content":"Schedule 2—Transitional provisions 510\n\nEndnotes 546\n\n1 General information 546\n\n2 Table of Amendments 548\n\n3 Explanatory details 559\n\n**Version No.** **140**\n\n**Duties Act 2000**\n\n**No. 79 of 2000**\n\nVersion incorporating amendments as at  \n\n**The Parliament of Victoria enacts as follows:**\n\n","sortOrder":6},{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"Chapter 1—Preliminary\n\n","sortOrder":7},{"sectionNumber":"1","sectionType":"section","heading":"Purpose","content":"\t1 Purpose\n\nThe main purpose of this Act is to create and charge a number of duties.\n\n","sortOrder":8},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"\t2 Commencement\n\nThis Act comes into operation on 1 July 2001.\n\nS. 3 amended by No. 46/2001 s. 3(2) (ILA s. 39B(1)).\n\n","sortOrder":9},{"sectionNumber":"3","sectionType":"section","heading":"Definitions","content":"\t3 Definitions\n\n(1) In this Act—\n\nS. 3(1) def. of *acquisition statement* amended by No. 38/2012 s. 6(a).\n\n***acquisition statement***, in Part 2 of Chapter 3, means a statement referred to in section 83;\n\n***advance***, in Chapter 7, has the meaning given by section 150;\n\n***allotment statement***, in Part 4 of Chapter 3, means a statement referred to in section 101;\n\n***approved*** means approved by the Commissioner;\n\nS. 3(1) def of *approved agent* inserted by No. 84/2008 s. 10.\n\n***approved agent*** means a person registered as an approved agent under section 248A;\n\nS. 3(1) def. of *assets* inserted by No. 18/2023 s. 3.\n\n***assets***, in relation to a sub-fund of a CCIV, has the meaning given by section 1233H of the Corporations Act;\n\nS. 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).\n\n***associated person*** means a person who is associated with another person in accordance with any of the following provisions—\n\n(a) persons are associated persons if they are related persons;\n\n(b) natural persons are associated persons if they are partners in a partnership to which the **Partnership Act 1958** applies;\n\n(c) companies are associated persons if—\n\n(i) there are minority shareholders common to each company who, if their interests were aggregated, would be majority shareholders in each company; or\n\n(ii) any majority shareholder or relative is a majority shareholder in each company;\n\n(ca) 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;\n\n(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;\n\n(e) 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;\n\n(f) 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;\n\n(g) 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;\n\n(h) a qualified investor and a private company are associated persons if the qualified investor is a majority shareholder in the private company;\n\n(i) 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;\n\n(j) 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;\n\n(k) 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);\n\nand, 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;\n\nS. 3(1) def. of *associated transaction* inserted by No. 38/2012 s. 4(1)(a).\n\n***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—\n\n(a) those persons are acting in concert; or\n\n(b) the acquisitions form, evidence, give effect to or arise from substantially one arrangement, one transaction or one series of transactions;\n\nS. 3(1) def. of *ASX* inserted by No. 28/2011 s. 20(1)(a).\n\n***ASX***  means ASX Limited (A.C.N. 008 624 691);\n\nS. 3(1) def. of *Australian register* amended by No. 9/2002 s. 3(Sch. item 4.1(a)).\n\n***Australian register*** has the same meaning as in the Corporations Act;\n\nS. 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).\n\nS. 3(1) def. of *authorised deposit-taking institution* inserted by No. 46/2001 s. 3(1)(a).\n\n***authorised deposit-taking institution*** has the same meaning as in the Banking Act 1959 of the Commonwealth;\n\nS. 3(1) def. of *business insurance* inserted by No. 18/2023 s. 20, amended by No. 22/2024 ss 3(1)(a), 4.\n\n***business insurance*** means general insurance that relates to one or more of the following classes of business—\n\n(a) aviation;\n\n(ab) cyber;\n\n(ac) directors and officers;\n\n(b) employers' liability;\n\n(c) fire and industrial special risks;\n\n(d) marine;\n\n(e) public and product liability;\n\n(f) professional indemnity;\n\n(g) a class of business declared under subsection (2A)(a)—\n\nbut does not include a kind of insurance excluded under subsection (2A)(b);\n\n***calf*** means any cattle less than 6 weeks of age;\n\nS. 3(1) def. of *cattle* amended by No. 67/2015 s. 3.\n\n***cattle*** means bull, cow, ox, steer, heifer, bison or buffalo;\n\nS. 3(1) def. of *change of use* inserted by No. 16/2024 s. 36.\n\n***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**;\n\n***charge*** includes impose;\n\nS. 3(1) def. of *class of business* inserted by No. 18/2023 s. 20, substituted by No. 22/2024 s. 3(1)(b).\n\n***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;\n\nS. 3(1) def. of *collateral mortgage* inserted by No. 46/2001 s. 3(1)(a), amended by No. 79/2001 s. 3.\n\n***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;\n\n***commercial hire business*** has the meaning given by section 126;\n\n***commercial vehicle*** means—\n\n(a) 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\n\n(b) 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;\n\n***Commissioner*** means the Commissioner of State Revenue referred to in section 62 of the **Taxation Administration Act 1997**;\n\nS. 3(1) def. of *compliance plate* inserted by No. 26/2015 s. 3(a).\n\n***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;\n\n***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;\n\nS. 3(1) def. of *complying super-annuation fund* amended by No. 46/2001 s. 3(1)(c).\n\n***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;\n\nS. 3(1) def. of *controlling interest* inserted by No. 26/2015 s. 14.\n\n***controlling interest*** has the meaning given by section 3A;\n\nS. 3(1) def. of *co-operative* amended by No. 9/2013 s. 42(Sch. 2 item 7(1)).\n\n***co-operative*** has the same meaning as in the Co‑operatives National Law (Victoria);\n\n***co-operative housing society*** has the same meaning as in the meaning of the **Co‑operative Housing Societies Act 1958**;\n\nS. 3(1) def. of *corporate collective investment vehicle* or *CCIV* inserted by No. 18/2023 s. 3.\n\n***corporate collective investment vehicle*** or ***CCIV*** has the same meaning as in the Corporations Act;\n\n***corporation*** means a body corporate, whether incorporated in this State or elsewhere;\n\n***corresponding Act*** means an Act of another State or of a Territory corresponding to this Act;\n\nS. 3(1) def. of *cost* repealed by No. 48/2001 s. 5(a).\n\n***counterpart*** includes a duplicate;\n\n***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;\n\nS. 3(1) def. of *defacto spouse* repealed by No. 27/2001 s. 3(Sch. 1 item 2.1(b)).\n\nS. 3(1) def. of *demonstrator vehicle* inserted by No. 71/2004 s. 4.\n\n***demonstrator vehicle*** means a motor vehicle that is used exclusively for the purpose of sale of another vehicle of the same class;\n\n***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—\n\n(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; or\n\n(b) will occur if a discretion conferred under the trust is not exercised; or\n\n(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;\n\nS. 3(1) def. of *domestic partner* inserted by No. 27/2001 s. 3(Sch. 1 item 2.1(a)).\n\n***domestic partner*** of a person means a person with whom the person is in a domestic relationship;\n\nS. 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).\n\n***domestic relationship*** means—\n\n(a) a registered domestic relationship; or\n\n(b) 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);\n\n***dutiable property*** has the meaning given by section 10;\n\nS. 3(1) def. of *dutiable proportion* inserted by No. 46/2001 s. 3(1)(a).\n\n***dutiable proportion***, for a mortgage, means the proportion of the amount secured by the mortgage worked out under section 159;\n\n***dutiable transaction*** has the meaning given by section 7(2);\n\n***dutiable value***—\n\n(a) of dutiable property has the meaning given by section 20;\n\n(b) of a motor vehicle has the meaning given by section 219;\n\nS. 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).\n\n***economic entitlement***—\n\n(a) in Part 4B and Division 9 of Part 5 of Chapter 2, has the meaning given by section 32XC(1); and\n\n(b) in Part 2 of Chapter 3, has the meaning given by section 81(2);\n\nS. 3(1) def. of *eligible cardholder* inserted by No. 18/2023 s. 10(a).\n\n***eligible cardholder*** has the meaning given by section 58;\n\n***eligible first home owner*** has the meaning given by section 61;\n\nS. 3(1) def. of *eligible pensioner* repealed by No. 18/2023 s. 10(b).\n\n***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);\n\nS. 3(1) def. of *ELN* inserted by No. 69/2013 s. 4.\n\n***ELN*** means ELN within the meaning of the Electronic Conveyancing National Law (Victoria);\n\nS. 3(1) def. of *entitled* repealed by No. 33/2007 s. 3.\n\nS. 3(1) def. of *entry date* inserted by No. 50/2024 s. 3(b).\n\n***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**;\n\nS. 3(1) def. of *entry interest* inserted by No. 16/2024 s. 36, substituted by No. 48/2025 s. 24.\n\n***entry interest*** has the meaning given by section 3AA;\n\nS. 3(1) def. of *entry transaction* inserted by No. 16/2024 s. 36, amended by No. 50/2024 s. 3(c).\n\n***entry transaction*** has the meaning given by section 3 of the **Commercial and Industrial Property Tax Reform Act 2024**;\n\nS. 3(1) def. of *equivalent exchange* inserted by No. 38/2012 s. 4(1)(a).\n\n***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;\n\n***execute***, in relation to an instrument not under seal, means sign;\n\n***farm machinery*** means—\n\n(a) a harvester, binder, tractor, plough or other agricultural implement; or\n\n(b) a boat;\n\n(c) fishing equipment;\n\n(d) 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—\n\nwhere the goods are acquired for the purposes of primary production;\n\nS. 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)).\n\n***financial institution*** means—\n\n(a) an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth; or\n\n(b) a co-operative within the meaning of the Co‑operatives National Law (Victoria); or\n\n(c) a co-operative housing society within the meaning of the **Co-operative Housing Societies Act 1958**; or\n\n(d) a body approved by the Governor in Council by Order published in the Government Gazette;\n\nS. 3(1) def. of *foreign corporation* inserted by No. 26/2015 s. 14.\n\n***foreign corporation*** means—\n\n(a) a corporation that is incorporated outside Australia; or\n\n(b) a corporation in which one of the following persons has a controlling interest—\n\n(i) a foreign natural person;\n\n(ii) another foreign corporation;\n\n(iii) the trustee of a foreign trust;\n\nS. 3(1) def. of *foreign natural person* inserted by No. 26/2015 s. 14, amended by No. 48/2025 s. 21.\n\n***foreign natural person*** means a natural person who is not any of the following—\n\n(a) an Australian citizen within the meaning of the Australian Citizenship Act 2007 of the Commonwealth;\n\n(b) the holder of a permanent visa within the meaning of section 30(1) of the Migration Act 1958 of the Commonwealth;\n\n(c) a New Zealand citizen who is a resident of Australia within the meaning of section 3K;\n\nS. 3(1) def. of *foreign purchaser* inserted by No. 26/2015 s. 14.\n\n***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—\n\n(a) a foreign natural person; or\n\n(b) a foreign corporation; or\n\n(c) the trustee of a foreign trust;\n\nS. 3(1) def. of *foreign trust* inserted by No. 26/2015 s. 14.\n\n***foreign trust*** means a trust in which one of the following persons has a substantial interest in the trust estate—\n\n(a) a foreign corporation;\n\n(b) a foreign natural person;\n\n(c) another person that holds the substantial interest as trustee of another foreign trust;\n\n***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;\n\n***general insurance*** has the meaning given by section 176;\n\nS. 3(1) def. of *general insurer* repealed by No. 40/2014 s. 3(b).\n\nS. 3(1) def. of *green car* inserted by No. 17/2019 s. 16, amended by No. 47/2020 s. 3.\n\n***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;\n\n***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;\n\nS. 3(1) def. of *GVM* inserted by No. 26/2015 s. 3(a).\n\n***GVM*** has the same meaning as in the **Road Safety Act 1986**;\n\n***heavy trailer*** means a trailer or semi-trailer within the meaning of the **Road Safety Act 1986** with an MRC exceeding 4⋅5 tonnes;\n\n***hire of goods*** has the meaning given by section 129;\n\n***hire purchase agreement*** has the meaning given by section 130(2);\n\n***hiring charges*** has the meaning given by section 135;\n\nS. 3(1) def. of *home* inserted by No. 22/2021 s. 3.\n\n***home*** has the meaning given by section 4 of the **First Home Owner Grant and Home Buyer Schemes Act 2000**;\n\nS. 3(1) def. of *home buyer scheme* inserted by No. 22/2021 s. 3.\n\n***home buyer scheme*** has the meaning given by section 34A of the **First Home Owner Grant and Home Buyer Schemes Act 2000**;\n\nS. 3(1) def. of *industrial organisation* inserted by No. 46/2001 s. 3(1)(a), amended by No. 74/2009 s. 11.\n\n***industrial organisation*** means an association of employees or employers registered as an organisation under the Fair Work (Registered Organisations) Act 2009 of the Commonwealth;\n\n***instrument*** includes a written document and a written statement;\n\n***insurance*** includes assurance;\n\nS. 3(1) def. of *insurance intermediary* substituted by No. 9/2002 s. 3(Sch. item 4.1(b)).\n\n***insurance intermediary*** means—\n\n(a) a person who arranges contracts of insurance in Victoria—\n\n(i) for reward; and\n\n(ii) as an agent for a person carrying on a business of insurance; or\n\n(b) 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\n\n(c) 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;\n\nS. 3(1) def. of *insurer* inserted by No. 40/2014 s. 3(a).\n\n***insurer*** has the meaning given by section 184;\n\n***interest*** includes an estate or proprietary right;\n\nS. 3(1) def. of *interest* inserted by No. 46/2004 s. 3(2)(a), amended by No. 38/2012 s. 6(b).\n\n***interest*** in a landholder has the meaning given by section 79(1);\n\nS. 3(1) def. of *land-related interest* inserted by No. 26/2015 s. 14, substituted by No. 17/2019 s. 5(b).\n\n***land-related interest*** means dutiable property referred to in section 10(1)(a), (ab), (ac), (ad) or (e);\n\nS. 3(1) def. of *land development* inserted by No. 40/2016 s. 3(a).\n\n***land development***, in relation to land, means any one or more of the following—\n\n(a) preparing a plan of subdivision of the land or taking any steps to have the plan registered under the **Subdivision Act 1988**;\n\n(b) applying for or obtaining a permit under the **Planning and Environment Act 1987** in relation to the use or development of the land;\n\n(c) requesting under the **Planning and Environment Act 1987** a planning authority to prepare an amendment to a planning scheme that would affect the land;\n\n(d) applying for or obtaining a permit or approval under the **Building Act 1993** in relation to the land;\n\n(e) doing anything in relation to the land for which a permit or approval referred to in paragraph (d) would be required;\n\n(f) developing or changing the land in any other way that would lead to the enhancement of its value;\n\nS. 3(1) def. of *land use entitlement* inserted by No. 46/2004 s. 3(2)(b).\n\n***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;\n\nS. 3(1) def. of *lease* repealed by No. 48/2001 s. 5(a),  \nnew def. of *lease* inserted by No. 39/2009 s. 3.\n\n***lease*** means a lease of land in Victoria or an agreement for a lease of land in Victoria;\n\nS. 3(1) def. of *liabilities* inserted by No. 18/2023 s. 3.\n\n***liabilities***, in relation to a sub-fund of a CCIV, has the meaning given by section 1233L of the Corporations Act;\n\nS. 3(1) def. of *liability date* inserted by No. 46/2001 s. 3(1)(a).\n\n***liability date***, for a mortgage, means the date the mortgage is liable under section 152 for mortgage duty;\n\n***licensed motor car trader*** has the same meaning as in the **Motor Car Traders Act 1986**;\n\nS. 3(1) def. of *life insurance* amended by No. 40/2014 s. 3(c).\n\n***life insurance*** has the meaning given by section 196A;\n\nS. 3(1) def. of *life insurer* repealed by No. 40/2014 s. 3(d).\n\nS. 3(1) def. of *linked entity* inserted by No. 46/2004 s. 3(2)(b), amended by No. 38/2012 s. 6(c).\n\n***linked entity*** has the meaning given in section 75;\n\nS. 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).\n\nS. 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).\n\n***listed company*** means—\n\n(a) a corporation all the shares in which are quoted on the ASX or an equivalent exchange; or\n\n(ab) a corporation all the shares in which are quoted on the LSE, NYSE or NZX; or\n\n(b) 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);\n\nS. 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).\n\n***listed trust*** means—\n\n(a) a unit trust scheme all the units in which are quoted on the ASX or an equivalent exchange; or\n\n(ab) a unit trust scheme, all the units in which are quoted on the LSE, NYSE or NZX; or\n\n(b) 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);\n\nS. 3(1) def. of *load* inserted by No. 26/2015 s. 3(a).\n\n***load***, in relation to a vehicle, includes anything that is removed from the vehicle when not in use;\n\nS. 3(1) def. of *LSE*  \ninserted by No. 28/2017 s. 42(1).\n\n***LSE*** means the London Stock Exchange;\n\nS. 3(1) def. of *majority shareholder* inserted by No. 46/2004 s. 3(2)(b).\n\n***majority shareholder*** in a company means—\n\n(a) 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\n\n(b) 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;\n\nS. 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).\n\n***managed investment scheme*** means a managed investment scheme within the meaning of Chapter 5C of the Corporations Act;\n\nS. 3(1) def. of *market capitalisation* inserted by No. 38/2012 s. 4(1)(a).\n\n***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;\n\n***marketable securities*** means the following—\n\n(a) shares referred to in section 10(1)(b);\n\n(b) units referred to in section 10(1)(c);\n\n(c) an interest in shares or units referred to in paragraph (a) or (b);\n\nS. 3(1) def. of *member* inserted by No. 18/2023 s. 3.\n\n***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;\n\nS. 3(1) def. of *minority shareholder* inserted by No. 46/2004 s. 3(2)(b).\n\n***minority shareholder*** in a company, means a shareholder in that company who is not a majority shareholder;\n\nS. 3(1) def. of *mortgage* substituted by No. 46/2001 s. 3(1)(d).\n\n***mortgage***—\n\n(a) subject to paragraph (b), has the meaning given by section 149;\n\n(b) 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;\n\nS. 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).\n\n***mortgage-backed security*** means—\n\n(a) an interest in a trust that entitles the holder of or beneficial owner under the interest—\n\n(i) 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\n\n(ii) 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\n\n(iii) 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—\n\nand that may, in addition, entitle the holder or beneficial owner to a transfer or assignment of the mortgage or mortgages; or\n\n(b) 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\n\n(c) any of the following—\n\n(i) 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;\n\n(ii) 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;\n\n(iii) 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—\n\nbut does not include an instrument or property comprising—\n\n(d) a mortgage; or\n\n(e) the transfer of a mortgage; or\n\n(f) a declaration of trust; or\n\n(g) 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;\n\n***mortgage package*** has the meaning given by section 160;\n\nS. 3(1) def. of *motor vehicle* amended by No. 26/2015 s. 3(b).\n\n***motor vehicle*** means—\n\n(a) a motor vehicle within the meaning of the **Road Safety Act 1986**; or\n\n(b) a heavy trailer, other than in section 233 and Schedule 1;\n\nS. 3(1) def. of *MRC* substituted by Nos 85/2005 s. 3(1)(c), 26/2015 s. 3(c).\n\n***MRC*** (mass rating for charging), in relation to a vehicle, means—\n\n(a) 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\n\n(b) in relation to a vehicle for which there is no compliance plate—its maximum mass, including any load;\n\nS. 3(1) def. of *National Schedule* inserted by No. 85/2005 s. 3(1)(a), repealed by No. 26/2015 s. 3(g).\n\nS. 3(1) def. of *net tangible assets* inserted by No. 38/2012 s. 4(1)(a).\n\n***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;\n\nS. 3(1) def. of *NYSE*  \ninserted by No. 28/2017 s. 42(1).\n\n***NYSE*** means the New York Stock Exchange;\n\nS. 3(1) def. of *NZX* inserted by No. 41/2013 s. 13(a).\n\n***NZX*** means the company registered in New Zealand known as NZX Limited;\n\nS. 3(1) def. of *on-line duty payment system* inserted by No. 36/2010 s. 3.\n\n***on-line duty payment system*** means a system for the electronic payment of duty authorised by the Commissioner under a taxation law;\n\nS. 3(1) def. of *partner* inserted by No. 27/2001 s. 3(Sch. 1 item 2.1(a)).\n\n***partner*** of a person means the person's spouse or domestic partner;\n\n***passenger car*** means—\n\n(a) a motor vehicle constructed principally for the carriage of passengers; or\n\n(b) a motor vehicle that—\n\n(i) is designed principally for the conveyance of not more than 8 adults; and\n\n(ii) is constructed either on a truck chassis or with special features for off-road operation—\n\nbut does not include—\n\n(c) a motor cycle; or\n\n(d) 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\n\n(e) a motor vehicle constructed for the carriage of passengers and equipped to seat more than 8 adults (including the driver);\n\nS. 3(1) def. of  \n*person* amended by No. 46/2001 s. 3(1)(e).\n\n***person*** includes an unincorporated association and a partnership;\n\n***person*** also includes a body corporate—see section 38 of the **Interpretation of Legislation Act 1984**.\n\n***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;\n\nS. 3(1) def. of *pool of mortgages* inserted by No. 46/2001 s. 3(1)(a).\n\n***pool of mortgages*** means a pool or collection of assets—\n\n(a) that consists solely of mortgages; or\n\n(b) 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—\n\n(i) cash;\n\n(ii) 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**;\n\n(iii) assets of a class of assets declared under subsection (2)(e);\n\nS. 3(1) def. of *potential voting power* inserted by No. 26/2015 s. 14.\n\n***potential voting power*** has the same meaning as in the Foreign Acquisitions and Takeovers Act 1975 of the Commonwealth;\n\nS. 3(1) def. of *PPR transfer* inserted by No. 28/2017 s. 3.\n\n***PPR transfer*** has the meaning given by section 57I;\n\n***premium***, in relation to general insurance, has the meaning given by section 177;\n\nS. 3(1) def. of *prescribed property* inserted by No. 30/2002 s. 3(1)(b).\n\n***prescribed property*** means any of the following—\n\n(a) cash;\n\n(b) 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**;\n\nS. 3(1) def. of *primary producer* inserted by No. 17/2019 s. 16.\n\n***primary producer*** means a person—\n\n(a) engaged solely or substantially in agricultural, horticultural, viticultural, dairying, pastoral or other like activities; or\n\n(b) who is the holder of a licence under the **Fisheries Act 1995** to take fish for sale;\n\nS. 3(1) def. of *primary producer* *passenger car* inserted by No. 17/2019 s. 16.\n\n***primary producer passenger car*** means a passenger car that is—\n\n(a) registered or to be registered in the name of a person who is a primary producer; and\n\n(b) used or to be used primarily in the business of the person as a primary producer;\n\nS. 3(1) def. of *primary production* amended by No. 58/2003 s. 3(a).\n\n***primary production*** means the use of land primarily for—\n\n(a) cultivation for the purpose of selling the produce of cultivation (whether in a natural, processed or converted state); or\n\n(b) the maintenance of animals or poultry for the purpose of selling them or their natural increase or bodily produce; or\n\n(c) the keeping of bees for the purpose of selling their honey; or\n\n(d) commercial fishing, including the preparation for commercial fishing or the storage or preservation of fish or fishing gear; or\n\n(e) the cultivation or propagation for sale of plants, seedlings, mushrooms or orchids;\n\nS. 3(1) def. of *principal beneficiary* inserted by No. 50/2024 s. 13.\n\n***principal beneficiary***, of a special disability trust, has the meaning given by—\n\n(a) 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\n\n(b) 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;\n\nS. 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).\n\n***private company*** means a corporation that is not a listed company;\n\nS. 3(1) def. of *private corporation* repealed by No. 46/2004 s. 3(2)(e).\n\nS. 3(1) def. of *private unit trust scheme* substituted by No. 46/2004 s. 3(2)(f).\n\n***private unit trust scheme*** means a unit trust scheme that is not—\n\n(a) a public unit trust scheme; or\n\n(b) a wholesale unit trust scheme;\n\nS. 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.\n\n***public unit trust scheme*** means any of the following unit trust schemes—\n\n(a) a listed trust;\n\n(b) a widely held trust;\n\n(d) a registered declared public unit trust scheme—\n\nbut does not include a unit trust scheme that is a wholesale unit trust scheme;\n\nS. 3(1) def. of *qualified investor* inserted by No. 46/2004 s. 3(2)(b), amended by No. 38/2012 s. 6(d).\n\n***qualified investor*** has the meaning given in section 89P;\n\nS. 3(1) def. of *qualifying dutiable transaction* inserted by No. 16/2024 s. 36.\n\n***qualifying dutiable transaction*** has the meaning given by section 3 of the **Commercial and Industrial Property Tax Reform Act 2024**;\n\nS. 3(1) def. of *qualifying interest* inserted by No. 16/2024 s. 36.\n\n***qualifying interest***, in relation to land,  has the meaning given by section 3 of the **Commercial and Industrial Property Tax Reform Act 2024**;\n\nS. 3(1) def. of *qualifying landholder transaction* inserted by No. 16/2024 s. 36.\n\n***qualifying landholder transaction*** has the meaning given by section 3 of the **Commercial and Industrial Property Tax Reform Act 2024**;\n\nS. 3(1) def. of *qualifying use* inserted by No. 16/2024 s. 36.\n\n***qualifying use***, in relation to land,  has the meaning given by section 3 of the **Commercial and Industrial Property Tax Reform Act 2024**;\n\nS. 3(1) def. of *receiving body* amended by Nos 38/2012 s. 13, 18/2023 s. 22(1).\n\n***receiving body***, in Chapter 4, has the same meaning as in the Financial Sector (Transfer and Restructure) Act 1999 of the Commonwealth;\n\nS. 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).\n\n***recognised stock exchange*** means—\n\n(a) a stock exchange that is a member of the World Federation of Exchanges; or\n\n(b) a prescribed financial market (within the meaning of section 9 of the Corporations Act); or\n\n(c) 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;\n\nS. 3(1) def. of *referable* inserted by No. 18/2023 s. 3.\n\n***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;\n\nS. 3(1) def. of *referrable point* inserted by No. 46/2001 s. 3(1)(a).\n\n***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;\n\nS. 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).\n\n***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;\n\nS. 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).\n\n***registered insurer*** means an insurer registered under Part 2 of Chapter 8;\n\n***registered operator*** has the same meaning as in the **Road Safety Act 1986**;\n\nS. 3(1) def. of *registered used car dealer* repealed by No. 30/2002 s. 3(2).\n\nS. 3(1) def. of *related body corporate* amended by No. 44/2001 s. 3(Sch. item 32.1(d)).\n\n***related body corporate*** has the same meaning as in the Corporations Act;\n\nS. 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).\n\n***related person*** means a person who is related to another person in accordance with any of the following provisions—\n\n(a) natural persons are related persons if one of them is a relative of the other;\n\n(b) companies are related persons if they are related bodies corporate within the meaning of the Corporations Act;\n\n(c) 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;\n\n(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;\n\n(e) 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;\n\n(f) 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);\n\nS. 3(1) def. of *relative* amended by No. 27/2001 s. 3(Sch. 1 item 2.1(c)).\n\n***relative*** in relation to a natural person, means a person who is—\n\n(a) a child or remoter lineal descendant of the person or of the partner of the person;\n\n(b) a parent or remoter lineal ancestor of the person or of the partner of the person;\n\n(c) a brother or sister of the person or of the partner of the person;\n\n(d) the partner of the person or a partner of any person referred to in paragraph (a), (b) or (c);\n\n(e) a child of a brother or sister of the person or of the partner of the person;\n\n(f) a brother or sister of a parent of the person or of a parent of the partner of the person;\n\nS. 3(1) def. of *relevant entry transaction* inserted by No. 16/2024 s. 36.\n\n***relevant entry transaction***, in respect of land, means the entry transaction under which the land becomes tax reform scheme land;\n\nS. 3(1) def. of *rent reserved* inserted by No. 39/2009 s. 3.\n\n***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;\n\nAmounts paid under the lease for the following purposes are payments for the right to use the land under the lease—\n\n(a) rates;\n\n(b) charges;\n\n(c) taxes;\n\n(d) maintenance;\n\n(e) utilities;\n\n(f) legal costs required to be paid by the lessee on behalf of the lessor in relation to the grant of the lease;\n\n(g) insurance premiums;\n\n(h) marketing costs;\n\n(i) car park contributions.\n\nS. 3(1) def. of *residential property* inserted by No. 26/2015 s. 14, substituted by No. 40/2016 s. 3(b).\n\n***residential property*** has the meaning given by section 3G;\n\nS. 3(1) def. of *responsible entity* amended by No. 44/2001 s. 3(Sch. item 32.1(d)).\n\n***responsible entity*** of a managed investment scheme, has the same meaning as in the Corporations Act;\n\n***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;\n\nS. 3(1) def. of *service demonstrator vehicle* inserted by No. 17/2019 s. 16.\n\n***service demonstrator vehicle*** means a motor vehicle that is—\n\n(a) used for the purposes of the sale of another vehicle of the same class; and\n\n(b) 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;\n\nS. 3(1) def. of *shared equity arrangement* inserted by No. 22/2021 s. 3.\n\n***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;\n\nS. 3(1) def. of *shares* substituted by No. 26/2015 s. 3(e).\n\n***shares*** means—\n\n(a) subject to paragraph (b), shares or rights to shares; and\n\n(b) 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;\n\n***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;\n\nS. 3(1) def. of *special disability trust* inserted by No. 50/2024 s. 13.\n\n***special disability trust*** means—\n\n(a) a special disability trust within the meaning of section 1209L of the Social Security Act 1991 of the Commonwealth; or\n\n(b) a special disability trust within the meaning of section 52ZZZW of the Veterans' Entitlements Act 1986 of the Commonwealth;\n\n***special hiring agreement*** has the meaning given by section 133;\n\nS. 3 def. of *spouse* substituted by No. 27/2001 s. 3(Sch. 1 item 2.1(d)).\n\n***spouse*** of a person means a person to whom the person is married;\n\n***stamp*** means duty stamp whether impressed by machine imprint or adhesive;\n\nS. 3 def. of *sub-fund* inserted by No. 18/2023 s. 3.\n\n***sub-fund***, of a CCIV, has the meaning given by section 1222Q(1) of the Corporations Act;\n\nS. 3(1) def. of *substantial interest* inserted by No. 26/2015 s. 14.\n\n***substantial interest*** has the meaning given by section 3B;\n\nS. 3(1) def. of *tax reform scheme land* inserted by No. 16/2024 s. 36.\n\n***tax reform scheme land***  has the meaning given by section 3 of the **Commercial and Industrial Property Tax Reform Act 2024**;\n\nS. 3(1) def. of *tax reform scheme transaction* inserted by No. 16/2024 s. 36, substituted by No. 50/2024 s. 3(d).\n\n***tax reform scheme transaction*** means—\n\n(a) a standard transaction within the meaning of section 69AN(1); or\n\n(b) a non-standard transaction within the meaning of section 69AN(2);\n\nS. 3(1) def. of *tenant's fixtures* inserted by No. 17/2019 s. 5(a).\n\n***tenant's fixtures*** has the meaning given by section 22A(3);\n\n***Territory*** means Territory of the Commonwealth;\n\nS. 3 def. of *transfer* amended by No. 44/2001 s. 3(Sch. item 32.1(d)).\n\n***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;\n\nS. 3(1) def. of *trustee* inserted by No. 46/2004 s. 3(2)(b).\n\n***trustee*** of a unit trust scheme that is a managed investment scheme, includes—\n\n(a) a responsible entity of the scheme; and\n\n(b) an agent appointed, or other person engaged, by a responsible entity of the scheme under Part 5C.2 of the Corporations Act;\n\n***unencumbered value*** of dutiable property has the meaning given by section 22;\n\nS. 3(1) def. of *unit* amended by No. 46/2004 s. 3(3), substituted by No. 26/2015 s. 3(f).\n\n***unit*** in a unit trust scheme means—\n\n(a) 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\n\n(b) 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\n\n(c) for the purposes of the definition of ***widely held trust*** and Part 2 of Chapter 3—\n\n(i) 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\n\n(ii) a right to any such right or interest;\n\n***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;\n\nS. 3(1) def. of *variation* repealed by No. 48/2001 s. 5(a).\n\nS. 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).\n\n***Victorian company*** means—\n\n(a) a company incorporated or taken to be incorporated under the Corporations Act that is taken to be registered in Victoria; or\n\n(b) any other body corporate that is incorporated under a Victorian Act;\n\nS. 3(1) def. of *voting power* inserted by No. 26/2015 s. 14.\n\n***voting power*** has the same meaning as in the Foreign Acquisitions and Takeovers Act 1975 of the Commonwealth;\n\nS. 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).\n\n***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;\n\nS. 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).\n\n***widely held trust*** means a unit trust scheme—\n\n(b) that has not less than 300 registered unitholders; and\n\n(d) 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.\n\nS. 3(2) inserted by No. 46/2001 s. 3(2).\n\n(2) The Governor in Council, by order published in the Government Gazette, may declare—\n\nS. 3(2)(a)–(c) repealed by No. 30/2002 s. 3(3).\n\n(d) the extent to which a pool of assets consists of mortgages or money paid under mortgages, or both, to be a pool of mortgages;\n\n(e) a class of assets to be assets included in a pool of mortgages.\n\nS. 3(2A) inserted by No. 22/2024 s. 3(2).\n\n(2A) The Treasurer, by notice published in the Government Gazette, may declare one or more of the following—\n\n(a) a class of business to be a class of business for the purposes of paragraph (g) of the definition of ***business insurance***;\n\n(b) a kind of insurance to be a kind of insurance that is excluded from the definition of ***business insurance***.\n\nS. 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).\n\n(3) For the  purposes of the definition of ***domestic relationship*** in subsection  (1)—\n\nS. 3(3)(a) amended by No. 4/2009 s. 37(Sch. 1 item 10.2(a)).\n\n(a) ***registered domestic relationship*** has the same meaning as in the **Relationships Act 2008**; and\n\nS. 3(3)(b) amended by No. 4/2009 s. 37(Sch. 1 item 10.2(b)).\n\n(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.\n\nS. 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).\n\nS. 3(4A) inserted by No. 38/2012 s. 4(3).\n\n(4A) For the purposes of the definition of ***equivalent exchange*** in subsection (1), the requirements are—\n\n(a) 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\n\n(b) either—\n\n(i) the following apply—\n\n(A) 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\n\n(B) 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\n\n(ii) 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\n\n(c) the entity must have—\n\n(i) net tangible assets of at least $2 000 000 at the time of listing; or\n\n(ii) a market capitalisation of at least $10 000 000.\n\nS. 3(5) inserted by No. 85/2005 s. 3(2).\n\n(5) 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.\n\nS. 3AA inserted by No. 48/2025 s. 25.\n\n\t3AA What is an *entry interest*?\n\n(1) For the purposes of this Act, ***entry interest***, in relation to tax reform scheme land, means—\n\n(a) 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\n\n(b) 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.\n\n(2) 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).\n\n(3) 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.\n\n(4) 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—\n\n\t**D** is the dutiable value of the land the subject of the qualifying dutiable transaction;\n\n\t**U** is the unencumbered value of the whole of the land at the time of the qualifying dutiable transaction.\n\nS. 3A (Heading) amended by No. 22/2018 s. 3(1).\n\nS. 3A inserted by No. 26/2015 s. 15.\n\n","sortOrder":10},{"sectionNumber":"3A","sectionType":"section","heading":"What is a *controlling interest* for the purposes of the definition of *foreign corporation*?","content":"\t3A What is a *controlling interest* for the purposes of the definition of *foreign corporation*?\n\nS. 3A(1) amended by No. 22/2018 s. 3(2).\n\n(1) 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—\n\n(a) is in a position to control more than 50% of the voting power in the corporation; or\n\n(b) is in a position to control more than 50% of the potential voting power in the corporation; or\n\n(c) has an interest in more than 50% of the issued shares in the corporation; or\n\n(d) is a person in respect of whom the Commissioner has made a determination under section 3C.\n\nS. 3A(2) substituted by No. 22/2018 s. 3(3).\n\n(2) Subsection (1) applies whether or not the person has the controlling interest—\n\n(a) alone; or\n\n(b) together with—\n\n(i) an associated person; or\n\n(ii) a foreign natural person, foreign corporation or trustee of a foreign trust.\n\nS. 3A(3) amended by No. 22/2018 s. 3(4).\n\n(3) 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.\n\nS. 3A(4) amended by No. 40/2016 s. 10(1).\n\n(4) 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.\n\nS. 3B (Heading) amended by No. 22/2018 s. 4(1).\n\nS. 3B inserted by No. 26/2015 s. 15.\n\n","sortOrder":11},{"sectionNumber":"3B","sectionType":"section","heading":"What is a *substantial interest* in a trust estate for the purposes of the definition of *foreign trust*?","content":"\t3B What is a *substantial interest* in a trust estate for the purposes of the definition of *foreign trust*?\n\nS. 3B(1) amended by No. 22/2018 s. 4(2)(a).\n\n(1) 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—\n\nS. 3B(1)(a) amended by No. 22/2018 s. 4(2)(b).\n\n(a) the person has a beneficial interest of more than 50% of the capital of the estate of the trust; or\n\n(b) the Commissioner has made a determination under section 3D in respect of the person.\n\nS. 3B(2) amended by No. 22/2018 s. 4(3).\n\n(2) 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.\n\nS. 3B(3) substituted by No. 22/2018 s. 4(4).\n\n(3) Subsection (1) applies whether or not the person has the substantial interest—\n\n(a) alone; or\n\n(b) together with—\n\n(i) an associated person; or\n\n(ii) a foreign natural person, foreign corporation or trustee of a foreign trust.\n\nS. 3C inserted by No. 26/2015 s. 15.\n\n","sortOrder":12},{"sectionNumber":"3C","sectionType":"section","heading":"Commissioner may determine person has a controlling interest in a corporation","content":"\t3C Commissioner may determine person has a controlling interest in a corporation\n\n(1) For the purposes of section 3A(1)(d), the Commissioner may determine that a person has a controlling interest in a corporation if, in the Commissioner's opinion, the person has the capacity to determine or influence, directly or indirectly, the outcome of decisions about the corporation's financial and operating policies, taking into account—\n\n(b) any practice or behaviour affecting the corporation's financial or operating polices (even if that practice or pattern of behaviour involves the breach of an agreement or a breach of trust).\n\n(2) This section applies regardless of any interests that any other person has in the corporation.\n\nS. 3D inserted by No. 26/2015 s. 15.\n\n","sortOrder":13},{"sectionNumber":"3D","sectionType":"section","heading":"Commissioner may determine person has a substantial interest in a trust","content":"\t3D Commissioner may determine person has a substantial interest in a trust\n\n(1) For the purposes of section 3B(1)(b), the Commissioner may determine that a person has a substantial interest in a trust estate if, in the Commissioner's opinion, the person has the capacity to determine or influence the outcome of decisions about the administration and conduct of the trust, taking into account—\n\n(b) any practice or behaviour affecting the trustee's administration and conduct of the trust (even if that practice or pattern of behaviour involves the breach of an agreement or a breach of trust).\n\n(2) This section applies regardless of any interests that any other person has in the trust estate.\n\nS. 3E inserted by No. 26/2015 s. 15.\n\n\t3E Exemptions from holding controlling interests in foreign corporations or substantial interests in trust estates of foreign trusts\n\n(1) Despite sections 3A, 3B, 3C and 3D, a person is taken not to have a controlling interest in a foreign corporation, or a substantial interest in the trust estate of a foreign trust, if the person has an exemption under subsection (2).\n\n(2) The Treasurer, for the purposes of subsection (1), may, in writing, exempt a person who has a controlling interest in a foreign corporation, or a substantial interest in the trust estate of a foreign trust, if the Treasurer is satisfied that, having regard to any one or more of the following matters, the person should not be taken to have that interest—\n\n(a) in the case of a person who has a controlling interest in a foreign corporation—\n\n(i) the nature and degree of ownership and control the person has in the corporation;\n\n(ii) the practical influence the person exerts or any rights the person enforces to determine or influence, directly or indirectly, the outcome of decisions about the corporation's financial and operating policies;\n\n(iii) any practice or behaviour of the person affecting the corporation's financial or operating policies;\n\n(iv) any other relevant circumstances;\n\n(b) in the case of a person who has a substantial interest in the trust estate of a foreign trust—\n\n(i) the nature and degree of the person's beneficial interest in the capital of the estate of the trust;\n\n(ii) the practical influence the person exerts or any rights the person enforces to determine or influence, directly or indirectly, the outcome of decisions about the administration and conduct of the trust;\n\n(iii) any practice or behaviour of the person affecting the trustee's administration and conduct of the trust;\n\n(iv) any other relevant circumstances.\n\nS. 3E(3) amended by No. 38/2023 s. 3.\n\n(3) At least once every 12 months the Treasurer must cause to be laid before each House of Parliament, and publish on an appropriate government website, a report setting out—\n\n(a) in respect of the exemptions (if any) granted by the Treasurer under subsection (2) during the period covered by the report—\n\n(i) the number of exemptions; and\n\n(ii) the name of each foreign corporation or foreign trust in relation to which an exemption was granted; and\n\n(iii) the value of each exemption, being the amount of duty foregone, or likely to be foregone, by the State because of the exemption; and\n\n(b) in respect of the exemptions (if any) granted by the Commissioner or a member of staff of the State Revenue Office during the period covered by the report under a delegation under section 3F—\n\n(i) the number of exemptions; and\n\n(ii) the total value of the exemptions, being the total amount of duty foregone, or likely to be foregone, by the State because of the exemptions.\n\n(4) The Treasurer must issue guidelines for the exercise of the power of exemption under subsection (2).\n\n(5) The Treasurer must cause guidelines issued under subsection (4) to be published in the Government Gazette.\n\n(6) Guidelines issued under subsection (4) are not a legislative instrument within the meaning of the **Subordinate Legislation Act 1994**.\n\nS. 3F inserted by No. 26/2015 s. 15.\n\n","sortOrder":14},{"sectionNumber":"3F","sectionType":"section","heading":"Delegation of exemption power","content":"\t3F Delegation of exemption power\n\n(1) The Treasurer may delegate, by instrument, to the Commissioner—\n\n(a) the power of the Treasurer to exempt a person under section 3E(2);\n\n(b) the power to delegate the power delegated under paragraph (a).\n\n(2) If power has been delegated under subsection (1)(b), the Commissioner may, subject to the terms of the instrument of delegation, sub-delegate, by instrument, to a member of staff of the State Revenue Office the power that is the subject of the delegation, other than the power of sub‑delegation.\n\n(3) Subject to subsection (4), sections 42 and 42A of the **Interpretation of Legislation Act 1984** apply in relation to a sub-delegation in the same manner as they apply in relation to a delegation.\n\n(4) Despite section 42A(1)(a) of the **Interpretation of Legislation Act 1984**, the Treasurer cannot exercise the power to exempt a person under section 3E(2) while a delegation under subsection (1)(a) is in effect.\n\n***member of staff of the State Revenue Office*** means—\n\n(a) an employee referred to in section 67 of the **Taxation Administration Act 1997**; or\n\n(b) a consultant or contractor engaged under section 68 of that Act.\n\nS. 3G inserted by No. 40/2016 s. 4.\n\n","sortOrder":15},{"sectionNumber":"3G","sectionType":"section","heading":"What is *residential property*?","content":"\t3G What is *residential property*?\n\n(1) ***Residential property*** is—\n\n(a) land capable of being used solely or primarily for residential purposes and that may lawfully be used in that way; or\n\n(b) land which includes a building, or part of a building, that a person intends to refurbish or extend so the land is capable of being used solely or primarily for residential purposes and may lawfully be used in that way; or\n\n(c) land—\n\n(i) on which a person intends to construct a building so the land is capable of being used solely or primarily for residential purposes and may lawfully be used in that way; or\n\n(ii) in respect of which a person has undertaken or intends to undertake land development for the purposes of—\n\n(A) constructing a building so the land is capable of being used solely or primarily for residential purposes and may lawfully be used in that way; or\n\n(B) enabling another person to construct a building so the land is capable of being used solely or primarily for residential purposes and may lawfully be used in that way.\n\n(2) Despite subsection (1), ***residential property*** does not include any of the following—\n\n(a) land—\n\n(i) capable of being used solely or primarily as commercial residential premises, a residential care facility, a supported residential service or for the purposes of a retirement village and that may lawfully be used in that way; and\n\n(ii) that a person intends to use solely or primarily as commercial residential premises, a residential care facility, a supported residential service or for the purposes of a retirement village;\n\n(b) land which includes a building, or part of a building, that a person intends to refurbish or extend so the land is capable of being used solely or primarily as commercial residential premises, a residential care facility, a supported residential service or for the purposes of a retirement village and that may lawfully be used in that way;\n\n(c) land—\n\n(i) on which a person intends to construct a building so the land is capable of being used solely or primarily as commercial residential premises, a residential care facility, a supported residential service or for the purposes of a retirement village and that may lawfully be used in that way; or\n\n(ii) in respect of which a person has undertaken or intends to undertake land development for the purposes of—\n\n(A) constructing a building so the land is capable of being used solely or primarily as commercial residential premises, a residential care facility, a supported residential service or for the purposes of a retirement village and that may lawfully be used in that way; or\n\n(B) enabling another person to construct a building so the land is capable of being used solely or primarily as commercial residential premises, a residential care facility, a supported residential service or for the purposes of a retirement village and that may lawfully be used in that way.\n\n***commercial residential premises*** has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth;\n\n***refurbish*** means to undertake building work that requires a building permit to be issued under the **Building Act 1993** for the conversion of an existing building;\n\n***residential care facility*** has the same meaning as in section 76 of the **Land Tax Act 2005**;\n\n***retirement village*** has the same meaning as in the **Retirement Villages Act 1986**;\n\nS. 3G(3) def. of *supported residential service* amended by No. 37/2021 s. 391.\n\n***supported residential service*** has the same meaning as in section 214 of the **Social Services Regulation Act 2021**.\n\n1 A person purchases a fee simple interest in land on which there is a free standing home that was designed and constructed as a residence. The land is capable of being used solely or primarily for residential purposes and may lawfully be used in that way. The person has acquired a land-related interest in residential property.\n\n2 A person purchases a fee simple interest in a warehouse that was designed and constructed for industrial purposes. The person purchases the interest with the intention of refurbishing the warehouse into residential apartments. At the time of purchase, the land is not capable of being used solely or primarily for residential purposes and may not lawfully be used in that way. However, the person has acquired a land‑related interest in residential property.\n\n3 A person purchases a fee simple interest in an apartment on the tenth floor of a building. The premises on the ground floor of the building were designed and constructed as shops. The person has acquired a land-related interest in residential property because the person has purchased an interest in land that is capable of being used solely or primarily for residential purposes and may lawfully be used in that way.\n\nS. 3H inserted by No. 22/2018 s. 9.\n\n","sortOrder":16},{"sectionNumber":"3H","sectionType":"section","heading":"Partners taken to have beneficial ownership of individual partnership property","content":"\t3H Partners taken to have beneficial ownership of individual partnership property\n\n(1) For the purposes of this Act, a partner in a partnership is taken to have beneficial ownership of each item of partnership property in the same proportion as the partner's partnership interest.\n\nS. 3H(1A) inserted by No. 47/2020 s. 4.\n\n(1A) Without limiting subsection (1), if the partnership property of a partnership (***first partnership***) includes an interest in another partnership, whether directly or indirectly through one or more other partnerships, a partner in the first partnership is also taken to have beneficial ownership of each item of the partnership property of each other partnership—\n\n(a) to the extent of the direct or indirect interest in the other partnership; and\n\n(b) in the same proportion as the partner's partnership interest in the first partnership.\n\n(2) The value of the partner's beneficial ownership of an item of partnership property must be determined without regard to any liabilities of the partnership.\n\nA partnership consists of 4 partners each of whom has contributed equally to the capital of the partnership and would be entitled to a 25% share of any surplus on dissolution of the partnership in respect of capital. The sole partnership property is land with an unencumbered value of $4 million. The registered proprietor of the land is a person who holds the land as custodian for the benefit of the partnership. The liabilities of the partnership are $3 million. Under this section, each partner is taken to have 25% beneficial ownership of the land without regard to any liabilities of the partnership. For example, if a partner left the partnership and another partner joined the partnership on the same terms, there would be a change of beneficial ownership in the land to the value of $1 million.\n\n(3) To avoid doubt, for the purposes of section 75, partnership property is taken to be held by the partnership for the benefit of each partner in the same proportion as the partner's beneficial ownership referred to in subsection (1).\n\n(4) To avoid doubt, for the purposes of Part 2 of Chapter 11, if partnership property consists of or includes shares or units, a partner is taken to have the ability to cast, or to control the casting of, the votes attaching to the shares or units of which the partner is taken to have beneficial ownership under subsection (1).\n\n***partnership interest***, of a partner, means the proportion of any surplus to which the partner would be entitled in respect of capital if the partnership were to be dissolved;\n\n***partnership property*** has the same meaning as in section 24(1) of the **Partnership Act 1958**.\n\nS. 3I inserted by No. 22/2021 s. 4.\n\n","sortOrder":17},{"sectionNumber":"3I","sectionType":"section","heading":"Purchasers of dutiable property under a shared equity arrangement","content":"\t3I Purchasers of dutiable property under a shared equity arrangement\n\nFor the purpose of assessing duty chargeable under this Chapter, including the application of any exemptions or concessions, on a transfer of land to a person who purchases the land under a shared equity arrangement, no account is to be taken of any beneficial ownership the State has in the land.\n\nS. 3IA inserted by No. 10/2025 s. 12.\n\n\t3IA Purchasers of dutiable property under a Help to Buy arrangement\n\n(1) For the purposes of assessing duty chargeable under this Chapter, including the application of any exemptions or concessions, on a transfer of land to a person who purchases the land under a Help to Buy arrangement, no account is to be taken of any beneficial ownership the Commonwealth or Housing Australia has in the land.\n\n***Help to Buy arrangement*** has the same meaning as in the Help to Buy Act 2024 of the Commonwealth;\n\n***Housing Australia*** has the same meaning as in the Housing Australia Act 2018 of the Commonwealth.\n\nS. 3J inserted by No. 18/2023 s. 4.\n\n","sortOrder":18},{"sectionNumber":"3J","sectionType":"section","heading":"Application of this Act to corporate collective investment vehicles","content":"\t3J Application of this Act to corporate collective investment vehicles\n\n(1) For the purposes of this Act, each sub-fund of a CCIV is taken to be a unit trust scheme of which—\n\n(a) the CCIV is the trustee; and\n\n(b) the business, assets and liabilities of the sub‑fund are the trust property; and\n\n(c) the members of the sub-fund are the beneficiaries.\n\nA CCIV has 2 sub-funds: sub-fund A and sub-fund B. The assets of sub-fund B include land with an unencumbered value of $5 million. Each sub-fund is taken to be a separate unit trust scheme. In the case of sub-fund B—\n\n• the CCIV is the trustee; and\n\n• the land is the trust property; and\n\n• the members of the sub-fund are the beneficiaries of the unit trust scheme.\n\n(2) For a sub-fund that is taken to be a unit trust scheme under subsection (1)—\n\n(a) a share in the CCIV that is referable to that sub-fund is taken to be a unit in the unit trust scheme; and\n\n(b) a shareholder of that share*,* as a member of that sub-fund, is taken to be a registered unitholder of the unit in the unit trust scheme; and\n\n(c) any rights, entitlements, obligations and other characteristics attaching to that share are taken, as far as practicable, to be the same rights, entitlements, obligations and other characteristics attaching to the unit; and\n\n(d) a winding up of the sub-fund is taken to be a winding up of the unit trust scheme; and\n\n(e) a person who has an entitlement, whether directly or through another person, to a distribution of property on the winding up of the sub-fund is taken to have the same entitlement to a distribution of property on the winding up of the unit trust scheme.\n\n1 A CCIV has one sub-fund: sub-fund C. The shares that are referable to sub-fund C entitle the shareholders to a distribution of property on the winding up of the sub‑fund. Sub-fund C is taken to be a unit trust scheme for which—\n\n• a share that is referable to the sub-fund is taken to be a unit in the unit trust scheme; and\n\n• a shareholder of that share is taken to be a unitholder of the unit in the unit trust scheme; and\n\n• the entitlement of that shareholder to a distribution of property on the winding up of the sub-fund is taken to be the entitlement of a unitholder to a distribution of property on the winding up of the unit trust scheme.\n\n2 A CCIV has 2 sub-funds: sub-fund D and sub‑fund E. The assets of sub-fund E include land with an unencumbered value of $10 million. Each sub-fund is taken to be a separate unit trust scheme. The unit trust scheme that is sub-fund E is a landholder for the purposes of Part 2 of Chapter 3. The CCIV, in respect of sub-fund D, then acquires 100% of the shares referable to sub-fund E. That acquisition is a relevant acquisition within the meaning given by section 78. In accordance with section 75, the unit trust scheme that is sub-fund E is then a linked entity of the unit trust scheme that is sub‑fund D.\n\n(3) For the purposes of this Act, a CCIV is taken to be a separate person in relation to each unit trust scheme of which it is the trustee under subsection (1).\n\n(4) This Act does not apply to a CCIV or the members of a sub-fund of a CCIV except as provided in this section.\n\nS. 3K inserted by No. 48/2025 s. 22.\n\n","sortOrder":19},{"sectionNumber":"3K","sectionType":"section","heading":"Who is a *resident of Australia* for the purposes of the definition of *foreign natural person*?","content":"\t3K Who is a *resident of Australia* for the purposes of the definition of *foreign natural person*?\n\n(1) For the purposes of paragraph (c) of the definition of ***foreign natural person*** and determining a liability for duty, a New Zealand citizen is taken to be a resident of Australia if the Commissioner is satisfied that the person has complied with, or will comply with, the residence requirement specified in subsection (2) in relation to—\n\n(a) a dutiable transaction under which a land-related interest in residential property is transferred to the person; or\n\n(b) an acquisition by the person of an interest in a landholder that holds a land-related interest in residential property.\n\n(2) For the purposes of subsection (1), the residence requirement is that the person ordinarily resides in Australia for a continuous period of at least 6 months within a period—\n\n(a) commencing 12 months prior to the date of the dutiable transaction or relevant acquisition; and\n\n(b) ending 12 months after the date of the dutiable transaction or relevant acquisition.\n\n(3) If satisfied that there is a good reason why a person cannot satisfy the residence requirement specified in subsection (2), the Commissioner may—\n\n(a) reduce the duration of the period for which the person must ordinarily reside in Australia; or\n\n(b) extend the period within which a person must complete a period of ordinarily residing in Australia.\n\nS. 3L inserted by No. 48/2025 s. 22.\n\n","sortOrder":20},{"sectionNumber":"3L","sectionType":"section","heading":"Liability for duty if residence requirement not complied with","content":"\t3L Liability for duty if residence requirement not complied with\n\n(1) If a New Zealand citizen does not comply with the residence requirement specified in section 3K(2) in relation to a dutiable transaction or relevant acquisition referred to in section 3K(1)—\n\n(a) the person is a foreign purchaser in respect of the dutiable transaction or relevant acquisition; and\n\n(b) the Commissioner may reassess duty on the dutiable transaction or relevant acquisition accordingly.\n\n(2) A liability for any additional duty imposed because of subsection (1) arises when the residence requirement specified in section 3K(2) is not complied with.\n\nSection 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.\n\n(3) A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made.\n\nSection 9(3)(c) of the **Taxation Administration Act 1997** allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.\n\nS. 3M inserted by No. 48/2025 s. 22.\n\n","sortOrder":21},{"sectionNumber":"3M","sectionType":"section","heading":"New Zealand citizen to notify Commissioner of change in circumstances","content":"\t3M New Zealand citizen to notify Commissioner of change in circumstances\n\n(1) A New Zealand citizen must lodge a written notice with the Commissioner within 30 days after becoming aware of any circumstances that may result in the residence requirement specified in section 3K(2) not being complied with.\n\n(2) A failure of a New Zealand citizen to comply with subsection (1) does not affect the Commissioner's power to exercise a discretion under section 3K(3) or to reassess duty on a dutiable transaction or relevant acquisition under section 3L(1)(b).\n\n","sortOrder":22},{"sectionNumber":"4","sectionType":"section","heading":"Division of Act into Chapters","content":"\t4 Division of Act into Chapters\n\n(1) This Act is divided into Chapters, Parts and Divisions.\n\n(2) If a provision of this Act refers to a Chapter by number, the reference must, unless the context otherwise requires, be construed as a reference to the Chapter designated by that number in this Act.\n\n(3) If a provision of this Act refers to a Part by a number, the reference must, unless the context otherwise requires, be construed as a reference to the Part designated by that number of the Chapter in which the reference occurs.\n\n","sortOrder":23},{"sectionNumber":"5","sectionType":"section","heading":"Taxation Administration Act 1997","content":"\t5 Taxation Administration Act 1997\n\nThis Act is to be read together with the **Taxation Administration Act 1997** which provides for the administration and enforcement of this Act and other taxation laws.\n\n","sortOrder":24},{"sectionNumber":"6","sectionType":"section","heading":"Act binds the Crown","content":"\t6 Act binds the Crown\n\n(1) This Act binds the Crown in right of Victoria and, so far as the legislative power of the Parliament permits, the Crown in all its other capacities.\n\n(2) Nothing in this Act makes the Crown in any of its capacities liable to be prosecuted for an offence.\n\n","sortOrder":25},{"sectionNumber":"Part 2","sectionType":"part","heading":"Transactions concerning dutiable property","content":"Chapter 2—Transactions concerning dutiable property\n\n","sortOrder":26},{"sectionNumber":"7","sectionType":"section","heading":"Imposition of duty on certain transactions concerning dutiable property","content":"\t7 Imposition of duty on certain transactions concerning dutiable property\n\n(1) This Chapter charges duty on—\n\n(a) a transfer of dutiable property; and\n\n(b) the following transactions—\n\n(i) a declaration of trust relating to dutiable property the specification of which forms part of the declaration of trust or part of the transaction constituted by the declaration of trust;\n\nS. 7(1)(b)(ii) substituted by No. 39/2009 s. 4(1).\n\n(ii) a surrender of dutiable property;\n\nS. 7(1)(b)(iia) inserted by No. 71/2004 s. 5.\n\n(iia) a disclaimer of an interest or a right in respect of dutiable property (other than dutiable property referred to in section 10(1)(b) or section 10(1)(c)) under the will or codicil of a deceased person or in or under the estate of a deceased person, irrespective of whether the will, codicil or estate has been fully administered;\n\nS. 7(1)(b)(iib) inserted by No. 71/2004 s. 5.\n\n(iib) a vesting of land in Victoria by, or expressly authorised by, statute law of this or another jurisdiction, whether in or outside Australia;\n\n(iii) a vesting of dutiable property by a court order or an order of the Registrar of Titles;\n\n(iv) the enlargement of a term into a fee‑simple under section 153 of the **Property Law Act 1958**; or\n\nS. 7(1)(b)(v) substituted by No. 39/2009 s. 4(2).\n\n(v) the granting of a lease for which any consideration other than rent reserved is paid or agreed to be paid, either in respect of the lease or in respect of—\n\n(A) a right to purchase the land or a right to a transfer of the land;\n\n(B) an option to purchase the land or an option for the transfer of the land;\n\n(C) a right of first refusal in respect of the sale or transfer of the land;\n\n(D) any other lease, licence, contract, scheme or arrangement by which the lessee, or an associated person of the lessee, obtains any right or interest in the land that is the subject of the lease other than the leasehold estate;\n\nS. 7(1)(b)(va) inserted by No. 39/2009 s. 4(2).\n\n(va) the transfer or assignment of a lease for which any consideration is paid or agreed to be paid, either in respect of the transfer or assignment or in respect of—\n\n(A) a right to purchase the land or a right to a transfer of the land;\n\n(B) an option to purchase the land or an option for the transfer of the land;\n\n(C) a right of first refusal in respect of the sale or transfer of the land;\n\n(D) any other lease, licence, contract, scheme or arrangement by which the transferee or assignee, or an associated person of the transferee or assignee, obtains any right or interest in the land that is the subject of the lease other than the leasehold estate;\n\nS. 7(1)(b)(vi) amended by No. 30/2002 s. 4(a), substituted by No. 58/2003 s. 4(1).\n\n(vi) any other transaction that results in a change in beneficial ownership of dutiable property (other than an excluded transaction).\n\n(2) Such a transfer or transaction is a ***dutiable transaction*** for the purposes of this Act.\n\nS. 7(2A) inserted by No. 58/2003 s. 4(2).\n\n(2A) Despite subsection (1)(b)(vi), an excluded transaction that results in a change in beneficial ownership of dutiable property is a dutiable transaction if it is part of a scheme or arrangement that, in the Commissioner's opinion, was made with a collateral purpose of reducing the duty otherwise chargeable under this Chapter.\n\nS. 7(3) amended by No. 39/2009 s. 4(3).\n\n(3) Despite subsection (1), the assignment of a term referred to in section 153 of the **Property Law Act 1958** is not a dutiable transaction unless it is a transaction referred to in subsection (1)(b)(va).\n\nS. 7(3AA) inserted by No. 39/2009 s. 4(4).\n\n(3AA) Despite subsection (1), the granting, transfer, assignment or surrender of a lease creating or giving rise to a residency right in a retirement village within the meaning of the **Retirement Villages Act 1986** is not a dutiable transaction.\n\nS. 7(3AAB) inserted by No. 39/2009 s. 4(4).\n\n(3AAB) Despite subsection (1), the granting of a lease is not a dutiable transaction if the lease was granted as a result of the exercise of an option for a further term where—\n\n(a) the option was provided for by a lease which was granted before 21 November 2008; and\n\n(b) the lease referred to in paragraph (a) required the payment of consideration for the exercise of the option.\n\nS. 7(3A) inserted by No. 48/2001 s. 6(1), amended by No. 29/2002 s. 3.\n\n(3A) Despite subsection (1), a transfer of marketable securities, or a transaction referred to in subsection (1)(b) in respect of marketable securities, that takes place or occurs on or after 1 July 2002 is not a dutiable transaction.\n\n(4) In this Chapter—\n\nS. 7(4) def. of *beneficial ownership* inserted by No. 39/2009 s. 4(5).\n\n***beneficial ownership*** includes, but is not limited to, ownership of dutiable property by a person as trustee of a trust;\n\nS. 7(4) def. of *change in beneficial ownership* inserted by No. 39/2009 s. 4(5).\n\n***change in beneficial ownership*** includes, but is not limited to—\n\n(a) the creation of dutiable property;\n\n(b) the extinguishment of dutiable property;\n\n(c) a change in equitable interests in dutiable property;\n\n(d) dutiable property becoming the subject of a trust;\n\n(e) dutiable property ceasing to be the subject of a trust;\n\n***declaration of trust*** means any declaration (other than by a will or testamentary instrument) that any identified property vested or to be vested in the person making the declaration is or is to be held in trust for the person or persons, or the purpose or purposes, mentioned in the declaration although the beneficial owner of the property, or the person entitled to appoint the property, may not have joined in or assented to the declaration;\n\nS. 7(4) def. of *excluded transaction* inserted by No. 58/2003 s. 4(3), substituted by No. 39/2009 s. 4(6).\n\n***excluded transaction*** means—\n\n(a) the purchase, gift, allotment or issue of a unit in a unit trust scheme;\n\n(b) the cancellation, redemption or surrender of a unit in a unit trust scheme;\n\n(c) the abrogation or alteration of a right pertaining to a unit in a unit trust scheme;\n\n(d) the payment of an amount owing for a unit in a unit trust scheme;\n\n(e) any combination of the transactions referred to in paragraphs (a), (b), (c) and (d).\n\nS. 7A inserted by No. 71/2004 s. 6.\n\n","sortOrder":27},{"sectionNumber":"7A","sectionType":"section","heading":"Vesting of land in Victoria by statute law","content":"\t7A Vesting of land in Victoria by statute law\n\n(1) Without limiting section 7(1)(b)(iib), land in Victoria is vested under statute law if the law vests the land in an entity that the law states is the successor in law of, continuation of or same entity as, the entity in which the land was previously vested.\n\n(2) Despite subsection (1), land in Victoria is not vested under statute law on the registration of a company under Part 5B.1 of Chapter 5B of the Corporations Act.\n\n(3) The merger of a corporation (***company A***) with and into another corporation (***company B***) in circumstances where neither subsection (4) nor subsection (5) applies is taken to be a vesting of the land in Victoria of company A in company B by statute law.\n\n(4) A merger of corporations (the ***merging corporations***) in circumstances where another corporation (***company C***) results as a consequence of the merger is taken to be a vesting of the land in Victoria of the merging corporations in company C by statute law.\n\n(5) A merger of corporations (the ***merging corporations***) with and into each other in circumstances where each of the merging corporations continues in existence is taken to be a vesting in the merging corporations, jointly, of 50% (in value) of the land in Victoria of the merging corporations by statute law.\n\n","sortOrder":28},{"sectionNumber":"8","sectionType":"section","heading":"Imposition of duty on dutiable transactions that are not transfers","content":"\t8 Imposition of duty on dutiable transactions that are not transfers\n\n(1) The duty charged by this Chapter on a dutiable transaction referred to in section 7(1)(b) is to be charged as if each such dutiable transaction were a transfer of dutiable property.\n\n(2) Accordingly, for the purpose of charging duty under this Chapter, in relation to a dutiable transaction specified in Column 1 of the following Table—\n\n(a) the property specified in Column 2 opposite the dutiable transaction is taken to be the property transferred (and a reference in this Act to property transferred includes a reference to such property); and\n\n(b) the person specified in Column 3 opposite the dutiable transaction is taken to be the transferee of the dutiable property (and a reference in this Act to a transferee includes a reference to such a person); and\n\n(c) the transfer of the dutiable property is taken to have occurred at the time specified in Column 4 opposite the dutiable transaction (and a reference in this Act to the time at which a transfer occurs includes a reference to such a time).\n\nS. 8(2) (Table) amended by Nos 46/2001 s. 4, 71/2004 s. 7, 39/2009 s. 5.\n\n| *Column 1* | *Column 2* | *Column 3* | *Column 4* |\n| --- | --- | --- | --- |\n| *Dutiable transaction* | *Property transferred* | *Transferee* | *When transfer occurs* |\n| declaration of trust | the property vested in the declarant as is subjected to the trust | the person declaring the trust | when the declaration becomes effective |\n| surrender | the surrendered dutiable property | the person to whom the property is surrendered | when the surrender takes place |\n| disclaimer | the disclaimed interest or right under a will, codicil or estate | the person who benefits from the disclaimer | when the interest or right is disclaimed |\n| vesting by statute law | the vested land in Victoria | the person in whom the property is vested | when the vesting by statute law occurs |\n| vesting by court order | the vested property | the person in whom the property is vested | when the order takes effect |\n| vesting by order of the Registrar of Titles | the vested property | the person in whom the property is vested | when the order takes effect |\n| enlargement of interest into fee-simple | the estate in fee simple | the person in whom the term was previously vested | when the interest is enlarged |\n| granting of a lease for consideration other than rent reserved | the leased property | the lessee | when the lease is granted |\n| transfer or assignment of lease | the leased property | the transferee or assignee | when the lease is transferred or assigned |\n| any other transaction that results in a change in beneficial ownership of dutiable property | the property the beneficial ownership of which is changed | the person who obtains the beneficial ownership or whose beneficial ownership is increased | when beneficial ownership changes |\n\n","sortOrder":29},{"sectionNumber":"9","sectionType":"section","heading":"What form must a dutiable transaction take?","content":"\t9 What form must a dutiable transaction take?\n\n(1) A dutiable transaction may be effected or evidenced—\n\n(a) wholly in writing; or\n\n(b) partly in writing and partly orally; or\n\n(c) wholly orally as evidenced by whole or part performance.\n\n(2) A dutiable transaction may be effected or recorded by any means, including electronic means.\n\n","sortOrder":30},{"sectionNumber":"10","sectionType":"section","heading":"What is *dutiable property*?","content":"\t10 What is *dutiable property*?\n\n(1) ***Dutiable property*** is any of the following—\n\nS. 10(1)(a) amended by No. 46/2004 s. 4(a).\n\n(a) each of the following estates or interests in land in Victoria—\n\n(i) an estate in fee-simple;\n\nS. 10(1)(a)(ia) inserted by No. 58/2003 s. 5(1).\n\n(ia) a life estate;\n\nS. 10(1)(a)(ib) inserted by No. 58/2003 s. 5(1).\n\n(ib) an estate in remainder;\n\n(ii) a Crown leasehold estate;\n\n(iii) a term referred to in section 153 of the **Property Law Act 1958** that may be enlarged into a fee-simple under that section;\n\nS. 10(1)(a)(iv) repealed by No. 39/2009 s. 6(1).\n\nS. 10(1)(a)(v) inserted by No. 46/2004 s. 4(b).\n\n(v) a land use entitlement;\n\nS. 10(1)(ab) inserted by No. 39/2009 s. 6(2).\n\n(ab) a lease, if the lease is of a kind referred to in section 7(1)(b)(v) or 7(1)(b)(va);\n\nS. 10(1)(ac) inserted by No. 39/2009 s. 6(2).\n\n(ac) an interest in any dutiable property referred to in paragraph (a) or (ab) other than—\n\n(i) a security interest;\n\n(ii) an option to purchase;\n\n(iii) a lease other than a lease referred to in paragraph (ab);\n\nS. 10(1)(ad) inserted by No. 17/2019 s. 6(1), amended by No. 47/2020 s. 5.\n\n(ad) an interest (other than a security interest) in fixtures that is created, dealt with or held separately from an estate or interest in the land on which the fixtures are located;\n\n(b) shares—\n\n(i) in a Victorian company; or\n\n(ii) in a corporation incorporated outside Australia that are kept on the Australian register kept in Victoria;\n\n(c) units in a unit trust scheme, being units—\n\n(i) registered on a register kept in Victoria; or\n\n(ii) that are not registered on a register kept in Australia, but in respect of which the manager (or, if there is no manager, the trustee) of the unit trust scheme is a Victorian company or is a natural person resident in Victoria;\n\nS. 10(1)(d) amended by Nos 30/2002 s. 4(b), 46/2004 s. 4(c).\n\n(d) goods in Victoria, if the subject of an arrangement that includes a dutiable transaction over an estate or interest in land elsewhere referred to in this section, including goods used in connection with a business carried on or in connection with the land, but not including the following—\n\n(i) goods that are stock-in-trade;\n\n(ii) materials held for use in manufacture;\n\n(iii) goods under manufacture;\n\nS. 10(1)(d)(iv) amended by No. 58/2003 s. 5(2).\n\n(iv) goods held or used in connection with primary production;\n\n(v) livestock;\n\n(e) an interest—\n\n(i) under the will or codicil of a deceased person disposing of property elsewhere referred to in this section; or\n\n(ii) in or under the estate of a deceased person comprising property elsewhere referred to in this section;\n\nS. 10(1)(f) amended by No. 46/2004 s. 4(c), repealed by No. 36/2005 s. 7.\n\nS. 10(1)(g) amended by No. 79/2001 s. 4.\n\n(g) an interest in shares referred to in paragraph (b) or in units referred to in paragraph (c) (other than an interest as mortgagee).\n\n(2) Despite subsection (1), the following marketable securities are not dutiable property—\n\nS. 10(2)(a) amended by Nos 9/2002 s. 3(Sch. item 4.2), 28/2011 s. 21.\n\n(a) shares, or units in a unit trust scheme, that are listed for quotation on the ASX or a recognised stock exchange;\n\nS. 10(2)(b) amended by Nos 9/2002 s. 3(Sch. item 4.2), 28/2011 s. 21.\n\n(b) an interest in shares or units referred to in paragraph (a), whether or not the interest is listed for quotation on the ASX or a recognised stock exchange.\n\nS. 10(3) inserted by No. 17/2019 s. 6(2).\n\n***fixtures*** means—\n\n(a) anything that constitutes a fixture at law; or\n\n(b) any other items fixed to land, including tenant's fixtures.\n\n","sortOrder":31},{"sectionNumber":"11","sectionType":"section","heading":"When does a liability for duty arise?","content":"\t11 When does a liability for duty arise?\n\n(1) A liability for duty charged by this Chapter arises when a dutiable transaction occurs.\n\nS. 11(2) repealed by No. 30/2002 s. 4(c).\n\n","sortOrder":32},{"sectionNumber":"12","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t12 Who is liable to pay the duty?\n\nDuty charged by this Chapter is payable by the transferee, unless this Chapter requires another person to pay the duty.\n\n","sortOrder":33},{"sectionNumber":"13","sectionType":"section","heading":"The liability of joint tenants","content":"\t13 The liability of joint tenants\n\nFor the purpose of assessing duty charged by this Chapter, joint tenants of dutiable property are taken to hold the dutiable property as tenants in common in equal shares.\n\n","sortOrder":34},{"sectionNumber":"14","sectionType":"section","heading":"Necessity for written instrument or written statement","content":"\t14 Necessity for written instrument or written statement\n\n(1) If a dutiable transaction that is liable to ad valorem duty under this Chapter is not effected by a written instrument, the transferee must make a written statement in the approved form.\n\nS. 14(2) amended by No. 69/2011 s. 5(1).\n\n(2) The written statement must be made within 30 days after the liability arises.\n\nS. 14(3) amended by No. 69/2011 s. 5(2).\n\n(3) If a dutiable transaction is completed or evidenced by a written instrument within 30 days after the date on which the dutiable transaction occurs, the requirement to lodge a statement and pay duty in respect of the statement may be satisfied by the lodgement of, and payment of duty on, the written instrument within 30 days after the date on which the dutiable transaction occurs.\n\nS. 14(4) inserted by No. 79/2001 s. 5.\n\n(4) For the purposes of this Act, an instrument of transfer of an estate in land is to be taken to effect the transfer of dutiable property referred to in section 10(1)(d) in respect of that land.\n\nS. 14(5) inserted by No. 71/2004 s. 8, amended by No. 69/2013 s. 5(a).\n\n(5) This section does not apply in respect of a dutiable transaction that is effected electronically by means of an ELN or in accordance with the **Electronic Transactions (Victoria) Act 2000**.\n\nS. 15 amended by No. 71/2004 s. 9 (ILA s. 39B(1)).\n\n","sortOrder":35},{"sectionNumber":"15","sectionType":"section","heading":"Lodging written instrument or statement with Commissioner","content":"\t15 Lodging written instrument or statement with Commissioner\n\nS. 15(1) amended by No. 69/2011 s. 6.\n\n(1) A transferee who is liable to pay duty in respect of a dutiable transaction must, within 30 days after the liability arises, lodge with the Commissioner—\n\n(a) the written instrument that effects the dutiable transaction or, if there is more than one such written instrument, each one of them as provided by section 10; or\n\n(b) the written statement made in compliance with section 14.\n\nS. 15(2) inserted by No. 71/2004 s. 9, amended by No. 69/2013 s. 5(b).\n\n(2) This section does not apply in respect of a dutiable transaction that is effected electronically  by means of an ELN or in accordance with the **Electronic Transactions (Victoria) Act 2000**.\n\nS. 15(3) inserted by No. 36/2010 s. 4.\n\n(3) A written instrument that effects a dutiable transaction or a written statement made in compliance with section 14 is taken to be lodged with the Commissioner if—\n\n(a) the on-line duty payment system is used in respect of the dutiable transaction effected or evidenced by the instrument or written statement; and\n\n(b) it is determined that—\n\n(i) duty is payable on the dutiable transaction and the duty is paid in full; or\n\n(ii) no duty is payable on the dutiable transaction.\n\nS. 16 amended by No. 69/2011 s. 7.\n\n","sortOrder":36},{"sectionNumber":"16","sectionType":"section","heading":"When must duty be paid?","content":"\t16 When must duty be paid?\n\nA tax default does not occur for the purposes of the **Taxation Administration Act 1997** if duty is paid within 30 days after the liability to pay the duty arises.\n\nS. 17 amended by No. 30/2002 s. 5 (ILA s. 39B(1)).\n\n","sortOrder":37},{"sectionNumber":"17","sectionType":"section","heading":"No double duty","content":"\t17 No double duty\n\n(1) If a dutiable transaction is effected by more than one instrument, one instrument is to be stamped with the duty payable on the dutiable transaction and each other instrument is to be denoted with a statement of the amount, and date of payment, of the duty.\n\nS. 17(1A) inserted by No. 71/2004 s. 10.\n\n(1A) If a dutiable transaction is effected electronically (in accordance with the **Electronic Transactions (Victoria) Act 2000**)  in whole or in part and duty has been paid, no further duty is payable in respect of an instrument or electronic transaction that forms part of the dutiable transaction.\n\nS. 17(2) inserted by No. 30/2002 s. 5.\n\n(2) No duty is chargeable under this Chapter on a transfer to a trustee of dutiable property subject to a declaration of trust if ad valorem duty has been paid on the declaration of trust in respect of the same dutiable property.\n\nS. 17(3) inserted by No. 30/2002 s. 5.\n\n(3) No duty is chargeable under this Chapter on a declaration of trust that declares the same trusts as those upon and subject to which the same dutiable property was transferred to the person declaring the trust if ad valorem duty has been paid on the transfer.\n\n","sortOrder":38},{"sectionNumber":"18","sectionType":"section","heading":"What is the rate of duty?","content":"\t18 What is the rate of duty?\n\nDuty is charged on the dutiable value of the dutiable property the subject of the dutiable transaction at the relevant rate set out in Part 3.\n\nS. 18A inserted by No. 26/2015 s. 16.\n\n","sortOrder":39},{"sectionNumber":"18A","sectionType":"section","heading":"Foreign purchasers—duty in respect of change of use of land","content":"\t18A Foreign purchasers—duty in respect of change of use of land\n\n(a) on or after 1 July 2015, under a dutiable transaction, a land-related interest in property that is not residential property is transferred to a foreign purchaser; and\n\nS. 18A(1)(b) substituted by No. 40/2016 s. 5(1).\n\n(b) after the land-related interest is transferred, it becomes a land-related interest in residential property when the foreign purchaser forms an intention referred to in section 3G(1)(b) or (c).\n\n(2) Within 14 days after the foreign purchaser forms the intention, the foreign purchaser must lodge with the Commissioner a statement of the foreign purchaser's intention.\n\nS. 18A(3) substituted by No. 40/2016 s. 5(2).\n\n(3) Within 30 days after the foreign purchaser forms the intention, the foreign purchaser must pay duty in relation to the land-related interest in residential property at the following rates—\n\n(a) if the foreign purchaser forms the intention on or after 1 July 2015 but before 1 July 2016—3% of the dutiable value of the interest at the time that it was transferred; or\n\nS. 18A(3)(b) amended by No. 17/2019 s. 14(a).\n\n(b) if the foreign purchaser forms the intention on or after 1 July 2016 but before 1 July 2019—7% of the dutiable value of the interest at the time that it was transferred; or\n\nS. 18A(3)(c) inserted by No. 17/2019 s. 14(b).\n\n(c) if the foreign purchaser forms the intention on or after 1 July 2019—8% of the dutiable value of the interest at the time that it was transferred.\n\n","sortOrder":40},{"sectionNumber":"19","sectionType":"section","heading":"Concessions and exemptions from duty","content":"\t19 Concessions and exemptions from duty\n\nConcessions and exemptions from duty charged by this Chapter are dealt with in Part 5.\n\nS. 19A inserted by No. 26/2015 s. 17.\n\n","sortOrder":41},{"sectionNumber":"19A","sectionType":"section","heading":"Foreign purchasers not entitled to concessions","content":"\t19A Foreign purchasers not entitled to concessions\n\nA foreign purchaser is not entitled to a concession from duty or a concessional rate of duty under Part 5 in respect of any duty determined in accordance with the rate set out in section 18A or 28A.\n\nPart 2—Dutiable value\n\nS. 20 amended by No. 58/2003 s. 6 (ILA s. 39B(1)).\n\n","sortOrder":42},{"sectionNumber":"20","sectionType":"section","heading":"What is the *dutiable value* of dutiable property?","content":"\t20 What is the *dutiable value* of dutiable property?\n\n(1) The ***dutiable value*** of dutiable property that is the subject of a dutiable transaction is the greater of—\n\n(a) the consideration (if any) for the dutiable transaction (being the amount of a monetary consideration or the value of a non-monetary consideration); and\n\n(b) the unencumbered value of the dutiable property.\n\nS. 20(2) inserted by No. 58/2003 s. 6.\n\n(2) In determining the dutiable value of dutiable property, there is to be no discount for the amount of GST (if any) payable on the supply of that property.\n\nS. 20(3) inserted by No. 39/2009 s. 7.\n\n(3) Despite subsection (1), the dutiable value of a lease referred to in section 10(1)(ab) that is the subject of a dutiable transaction is the greater of—\n\n(a) any consideration (being the amount of a monetary consideration or the value of a non-monetary consideration) other than rent reserved that is paid or agreed to be paid; and\n\n(b) the unencumbered value of the land that is subject to the lease.\n\n","sortOrder":43},{"sectionNumber":"21","sectionType":"section","heading":"What is the consideration for the transfer of dutiable property?","content":"\t21 What is the consideration for the transfer of dutiable property?\n\n(1) The consideration for the transfer of dutiable property is taken to include the amount or value of all encumbrances, whether certain or contingent, subject to which the dutiable property is transferred.\n\nS. 21(2) repealed by No. 36/2005 s. 7, new s. 21(2) inserted by No. 28/2017 s. 4(1), amended by No. 22/2018 s. 17.\n\n(2) The consideration for a transfer of dutiable property is to be adjusted under subsection (3) or (4) only for the following purposes—\n\n(a) calculating duty under section 57J;\n\nS. 21(2)(b) amended by No. 18/2023 s. 11(a).\n\n(b) applying an exemption or concession under section 57JA;\n\nS. 21(2)(c) inserted by No. 18/2023 s. 11(b).\n\n(c) applying an exemption or concession under section 60, if the dutiable value of the property is not more than the maximum amount specified in section 57J.\n\nS. 21(2A) inserted by No. 22/2021 s. 5.\n\n(2A) Despite subsection (2) but subject to subsection (2B), the consideration for a transfer of dutiable property is also to be adjusted under subsection (3) or (4) if—\n\n(a) the adjustment would result in the consideration being not more than $1 000 000; and\n\n(b) the transfer meets all the requirements to receive a concessional rate of duty under section 57J other than the requirement that the dutiable value of the dutiable property is not more than $550 000; and\n\n(c) the contract for purchase of the dutiable property is entered into on or after 1 July 2021 but before 1 July 2023.\n\nS. 21(2B) inserted by No. 22/2021 s. 5.\n\n(2B) Subsection (2A) does not apply if the Commissioner determines that the contract for purchase of the dutiable property replaces a previous contract for the purchase of the same property entered into before 1 July 2021.\n\nS. 21(3) amended by No. 28/2017 s. 4(2).\n\n(3) The consideration for the transfer of land on the sale of that land is to be adjusted to exclude any amount paid or payable in respect of the construction of a building to be constructed on that land on or after the date on which the contract of sale was entered into.\n\nS. 21(4) amended by Nos 31/2008 s. 3(1)(a), 28/2017 s. 4(3).\n\n(4) The consideration for the transfer of land that is a lot on a plan of subdivision within the meaning of the **Subdivision Act 1988** on a sale of that lot is to be adjusted to exclude an amount, attributable to that lot, in respect of refurbishment of that lot carried out on or after the date on which the contract of sale was entered into and before the date of the transfer if—\n\nS. 21(4)(a) amended by No. 79/2001 s. 6(a).\n\n(a) the transferor was a first registered proprietor within the meaning of the **Transfer of Land Act 1958** of that lot; and\n\nS. 21(4)(b) amended by No. 79/2001 s. 6(b).\n\n(b) the sale of that lot to the transferee is the first sale of the lot after registration of the plan of subdivision; and\n\nS. 21(4)(c) amended by No. 31/2008 s. 3(1)(b).\n\n(c) the transferee has not entered into a contract for refurbishment of the lot, other than in respect of the refurbishment referred to above.\n\nS. 21(4)(d) repealed by No. 31/2008 s. 3(1)(c).\n\nS. 21(4A) inserted by No. 31/2008 s. 3(2).\n\n(4A) Subsection (3) or (4) does not apply unless the transfer, when presented to or lodged with the Commissioner, is accompanied by—\n\n(a) a copy of the building permit, or building approval or permit; and\n\n(b) a copy of the contract with the transferee for the construction or refurbishment; and\n\nS. 21(4A)(c) amended by Nos 37/2009 s. 3, 28/2017 s. 18(1).\n\n(c) information in the approved form given by the transferor as to (but not limited to) whether or not the transferor has entered into any agreement with the transferee in respect of works (other than construction or refurbishment) to be undertaken in relation to the land or the lot before the transfer; and\n\nS. 21(4A)(d) amended by No. 28/2017 s. 18(1).\n\n(d) if the Commissioner requires, information in the approved form given by the transferee declaring that the transferee has not entered any contract, other than the contract referred to in paragraph (b), for the construction of the building or refurbishment of the lot; and\n\nS. 21(4A)(e) amended by No. 28/2017 s. 18(1).\n\n(e) if the Commissioner requires, information in the approved form given by the person that issued the building permit or building approval or permit.\n\nNote to s. 21(4A) inserted by No. 28/2017 s. 18(2).\n\nS. 21(4B) inserted by No. 26/2015 s. 18.\n\n(4B) Subsection (3) or (4) does not apply when determining the duty chargeable at the rate set out in section 18A or 28A.\n\n***refurbishment*** means building work for which a building permit has been issued under the **Building Act 1993**, being work for the conversion of an existing building for which such a permit or approval is required.\n\nS. 21AA inserted by No. 45/2024 s. 3.\n\n\t21AA Consideration for the transfer of dutiable property—adjustment for construction costs\n\n(1) Despite section 21(2), the consideration for a transfer of dutiable property is to be adjusted under section 21(3) or (4) if—\n\n(a) the dutiable property is residential property consisting of a single dwelling; and\n\n(b) the residential property is a lot in a strata subdivision that has common property; and\n\nS. 21AA(1)(c) amended by No. 24/2025 s. 6.\n\n(c) the contract for the purchase of the dutiable property is entered into on or after 21 October 2024 and before 21 October 2026.\n\n(2) Subsection (1) does not apply if the Commissioner determines that the contract for purchase of the dutiable property replaces a previous contract for the purchase of the same property entered into before 21 October 2024.\n\n***lot*** has the meaning given by section 3(1) of the **Subdivision Act 1985**;\n\n***strata subdivision*** has the meaning given by section 4(1) of the **Transfer of Land Act 1958**.\n\nS. 21A inserted by No. 31/2008 s. 4.\n\n","sortOrder":44},{"sectionNumber":"21A","sectionType":"section","heading":"Commissioner may publish percentage","content":"\t21A Commissioner may publish percentage\n\n(1) For the purposes of sections 21(3) and 21(4), the Commissioner may from time to time publish percentage amounts being a percentage of the consideration for a transfer of dutiable property that represents any amount paid or payable in respect of construction of a building or refurbishment of a lot on or after the date on which the contract of sale was entered into.\n\n(2) The Commissioner may publish different percentage amounts for different classes of buildings or refurbishments.\n\n(3) If the Commissioner publishes a percentage under subsection (1)—\n\n(a) the transferor may use that percentage for the purposes of determining the amount paid or payable in respect of construction of the building or refurbishment of the lot; and\n\n(b) if the transferor does so, duty payable on the transfer is to be assessed on that basis.\n\nS. 21B inserted by No. 31/2008 s. 4, amended by No. 28/2017 s. 19.\n\n","sortOrder":45},{"sectionNumber":"21B","sectionType":"section","heading":"Records to be kept","content":"\t21B Records to be kept\n\nIf a transferor of dutiable property gives information under section 21(4A), the transferor must keep, or cause to be kept, all records that are necessary to enable the duty payable on that transfer to be assessed.\n\n1. 500 penalty units in the case of a body corporate;\n\n100 penalty units in any other case.\n\nNote to s. 21B inserted by No. 13/2013 s. 56(1).\n\nS. 21C inserted by No. 31/2008 s. 4.\n\n","sortOrder":46},{"sectionNumber":"21C","sectionType":"section","heading":"Period of retention","content":"\t21C Period of retention\n\n(1) A transferor who is required to keep a record under section 21B must retain the record for not less than 5 years after—\n\n(a) the date it was made or obtained; or\n\n(b) the date on which the dutiable transaction occurred—\n\nwhichever is the later.\n\n1. 500 penalty units in the case of a body corporate;\n\n100 penalty units in any other case.\n\ns. 21C(1) inserted by No. 13/2013 s. 56(2).\n\n(2) Subsection (1) does not apply to a transferor if the Commissioner authorises them in writing to destroy the record before the end of the 5-year period.\n\nS. 21D inserted by No. 31/2008 s. 4.\n\n","sortOrder":47},{"sectionNumber":"21D","sectionType":"section","heading":"Power to require documents","content":"\t21D Power to require documents\n\n(1) The Commissioner, by written notice, may require a person to produce to the Commissioner a document that is required to be kept under section 21B.\n\n(2) The person to whom a notice is given under subsection (1) must comply with the notice within the period specified in the notice or any extended period allowed by the Commissioner.\n\n1. 200 penalty units in the case of a body corporate;\n\n40 penalty units in any other case.\n\ns. 21D(2) inserted by No. 13/2013 s. 56(2).\n\nS. 21E inserted by No. 31/2008 s. 4.\n\n","sortOrder":48},{"sectionNumber":"21E","sectionType":"section","heading":"Joint and several liability for additional duty","content":"\t21E Joint and several liability for additional duty\n\nIf a transferor of dutiable property—\n\nS. 21E(a) amended by No. 28/2017 s. 20(a).\n\n(a) gives information under section 21(4A); and\n\nS. 21E(b) amended by No. 28/2017 s. 20(b).\n\n(b) that information is incorrect—\n\nthe transferor is jointly and severally liable with the transferee for any additional duty payable on the transfer and any penalty or interest.\n\n","sortOrder":49},{"sectionNumber":"22","sectionType":"section","heading":"What is the *unencumbered value* of dutiable property?","content":"\t22 What is the *unencumbered value* of dutiable property?\n\nS. 22(1) substituted by No. 79/2001 s. 7.\n\n(1) The ***unencumbered value*** of dutiable property is the amount for which the property might reasonably have been sold in the open market—\n\n(a) in the case of a transfer of dutiable property on a sale of the property—at the time the contract of sale was entered into;\n\n(b) in any other case—at the time the dutiable transaction occurred—\n\nfree from any encumbrance to which the property was subject at that time.\n\n(2) In determining the amount for which land or goods might reasonably have been sold free from encumbrances, there must be disregarded subject to subsection (3), any interest, agreement or arrangement (other than an encumbrance) granted or made in respect of the land or goods, that has the effect of reducing the value of the land or goods.\n\nS. 22(2A) inserted by No. 46/2004 s. 5.\n\n(2A) A reference in subsection (2) to an interest includes a reference to an equitable interest that—\n\n(a) was created before the time of the transfer of the land or goods; and\n\n(b) is in existence at that time.\n\n(3) An interest, agreement or arrangement referred to in subsection (2) is not to be disregarded if the Commissioner is satisfied that it was not granted or made as a part of an arrangement or scheme with a collateral purpose of reducing the duty otherwise payable on the transfer of the land or goods.\n\n(4) In considering whether or not he or she is satisfied for the purposes of subsection (3), the Commissioner may have regard to—\n\n(a) the duration of the interest, agreement or arrangement before the transfer; and\n\n(b) whether the interest, agreement or arrangement has been granted to or made with an associate, a related corporation or a trustee of the transferor or transferee; and\n\n(c) whether there is any commercial efficacy to the granting of the interest or the making of the agreement or arrangement other than to reduce duty; and\n\n(d) any other matters he or she considers relevant.\n\nS. 22(5) inserted by No. 46/2001 s. 5.\n\n(5) In computing for the purposes of this Chapter the unencumbered value of any marketable securities of a company, there must be disregarded any provision in the constitution of the company which, or the operation of which, restricts or would restrict the sale or disposition or reduces or would reduce the unencumbered value of the marketable securities, and the marketable securities are to be valued as if no such provision existed.\n\nS. 22(6) inserted by No. 46/2001 s. 5.\n\n(6) Despite anything to the contrary in this section, the Commissioner may adopt as the unencumbered value of any marketable securities of a company the net benefit that, in the opinion of the Commissioner, the holder of the marketable securities would receive after payment of all income taxes in respect of the marketable securities in the event of the company being voluntarily wound up at the time the dutiable transaction occurred, whether or not any such winding up was intended or contemplated at that time.\n\nS. 22A inserted by No. 46/2004 s. 6.\n\n","sortOrder":50},{"sectionNumber":"22A","sectionType":"section","heading":"Tenant's fixtures to be included in the value of land","content":"\t22A Tenant's fixtures to be included in the value of land\n\n(1) In determining for the purposes of this Part the unencumbered value of land, the value of any tenant's fixtures on that land is to be included in that value.\n\n(2) However, the value of tenant's fixtures is not to be included if the Commissioner is satisfied that the fixtures are not sold or transferred to the purchaser, the transferee of the land or an associated person of the purchaser or the transferee of the land.\n\nS. 22A(3) def. of *tenant's fixtures* amended by No. 1/2010 s. 104.\n\n***tenant's fixtures***, in relation to land, means fixtures on that land that, under section 154A of the **Property Law Act 1958**, are the property of a tenant.\n\nS. 22B inserted by No. 46/2004 s. 6.\n\n","sortOrder":51},{"sectionNumber":"22B","sectionType":"section","heading":"Interdependent sale of land and business goods","content":"\t22B Interdependent sale of land and business goods\n\n(a) an estate or interest in land referred to in section 10(1)(a) is transferred to a person (***the land transferee***) under a contract of sale of land; and\n\n(b) business goods relating to that land are sold to another person (***the goods transferee***) under a contract of sale of goods, or a contract of sale of a business; and\n\n(c) the land transferee and the goods transferee are not associated persons; and\n\n(d) the Commissioner is satisfied that the contract of sale referred to in paragraph (a) and the contract of sale referred to in paragraph (b) are not substantially one transaction; and\n\n(e) at least one of the contracts of sale referred to in paragraph (a) and (b) is conditional on the other.\n\n(2) If this section applies—\n\n(a) in determining the unencumbered value of the land transferred to the land transferee, the value of the business goods is to be disregarded;\n\n(b) nothing in section 24 applies to the transfer.\n\n(3) However, if at any subsequent time the business goods or any of them are transferred to the land transferee or to an associated person of the land transferee, the value of the business goods transferred is deemed to have formed part of the value of the land and duty payable under this Part is to be assessed or reassessed on that basis.\n\nS. 22B(4) amended by No. 69/2011 s. 8.\n\n(4) Any duty payable because of the operation of subsection (3) is payable within 30 days after the date on which the business goods were transferred to the land transferee.\n\n(5) Subsection (3) does not apply if the Commissioner is satisfied that—\n\n(a) the land transferee acquired the business goods at least 3 years after acquiring the land; and\n\n(b) the acquisition of the business goods by the land transferee at a subsequent time was not contemplated at the time of the contract of sale of the land.\n\nS. 22B(6) def. of *business goods* amended by No. 36/2005 s. 8.\n\n***business goods*** means goods used in connection with a business carried on or in connection with land, other than goods referred to in section 10(1)(d)(i), (ii), (iii), (iv) or (v).\n\n","sortOrder":52},{"sectionNumber":"23","sectionType":"section","heading":"Arrangements that reduce the dutiable value of marketable securities","content":"\t23 Arrangements that reduce the dutiable value of marketable securities\n\n(1) In computing for the purposes of this Chapter the unencumbered value of any marketable securities of a company, the Commissioner may include the value of any assets formerly owned or controlled by the company if—\n\n(a) those assets were transferred to the ownership or control of the transferee of the marketable securities or to an associated person of the transferee before the transfer of the marketable securities; and\n\n(b) those assets are necessary for the continuing operation of the company after the transfer of the marketable securities; and\n\n(c) the value of the marketable securities was reduced following the transfer of ownership or control of assets because the proceeds of that transfer were not retained by the company.\n\n(2) In determining whether assets are necessary for the continuing operation of a company the Commissioner may take into account—\n\n(a) whether or not the assets were removed from the company's premises after the transfer of ownership or control;\n\n(b) whether or not the assets continued to be used by the company under an arrangement with the transferee.\n\n(3) This section does not apply if the Commissioner is satisfied that the transfer of ownership or control of assets—\n\n(a) was part of the normal business operations of the transferee; or\n\n(b) was not part of a scheme or arrangement devised for the principal purpose of minimising duty chargeable under this Chapter on the transfer of marketable securities.\n\n","sortOrder":53},{"sectionNumber":"24","sectionType":"section","heading":"Aggregation of certain dutiable transactions","content":"\t24 Aggregation of certain dutiable transactions\n\nS. 24(1) amended by No. 17/2019 s. 7(1).\n\n(1) Dutiable transactions relating to separate items of dutiable property referred to in section 10(1)(a), (ad) or (d) or section 10(1)(e) as it relates to dutiable property referred to in section 10(1)(a), (ad) or (d), or separate parts of such property are to be aggregated and treated as a single dutiable transaction if—\n\nS. 24(1)(a) substituted by No. 30/2002 s. 6(1)(a).\n\n(a) either—\n\n(i) in the case of dutiable transactions that are transfers on a sale of an item or part of dutiable property—the contracts of sale are entered into within 12 months; or\n\n(ii) in any other case—the dutiable transactions occur within 12 months; and\n\nS. 24(1)(b) repealed by No. 30/2002 s. 6(1)(b).\n\n(c) the dutiable transactions together form, evidence, give effect to or arise from what is, substantially, one arrangement relating to all of the items or parts of the dutiable property.\n\nNotes to s. 24(1) inserted by No. 17/2019 s. 7(2).\n\n**Notes**\n\n1 See section 57FB for the calculation of duty on an aggregation of dutiable transactions in relation to an interest in fixtures referred to in section 10(1)(ad) and dutiable transactions in relation to land other than the land on which the fixtures are located.\n\n2 See section 64C for the calculation of duty on an aggregation of dutiable transactions in relation to eligible transfers (within the meaning of section 64A) if duty on at least one of the transactions is subject to a reduction of duty under section 64B and at least one of the transactions is either not an eligible transfer or is an eligible transfer subject to a reduction in duty calculated on a different percentage.\n\nS. 24(1A) inserted by No. 17/2019 s. 7(3).\n\n(1A) Subsection (1)(a) does not apply in the case of an arrangement that comprises one or more dutiable transactions that relate to dutiable property referred to in section 10(1)(ad).\n\nS. 24(2) substituted by No. 42/2012 s. 3(1).\n\n(2) Dutiable transactions are not to be aggregated under this section if  the Commissioner is satisfied that—\n\n(a) the items or parts of dutiable property to which the dutiable transactions relate are comprised of vacant land; and\n\n(b) the transferee is registered as a domestic builder under the **Building Act 1993** and is a builder within the meaning of the **Domestic Building Contracts Act 1995**; and\n\n(c) the transferee intends to construct residential premises on the vacant land for the purpose of selling that land to the public.\n\nS. 24(2A) inserted by No. 46/2001 s. 6.\n\n(2A) Dutiable transactions are not to be aggregated under this section if the Commissioner is satisfied that—\n\n(a) each item or part of dutiable property to which the arrangement referred to in subsection (1) relates is—\n\nS. 24(2A)(a)(i) amended by Nos 58/2003 s. 7, 88/2005 s. 117(Sch. 2 item 1.1).\n\n(i) an estate in land referred to in section 65, 66 or 67 of the **Land Tax Act 2005** (not being a partial interest in a parcel of land); or\n\n(ii) goods in Victoria held or used in connection with land referred to in subparagraph (i); or\n\n(iii) property referred to in section 10(1)(e) as it relates to property referred to in subparagraph (i) or (ii); and\n\n(b) following the series of dutiable transactions giving effect to or arising from the arrangement referred to in subsection (1), the land referred to in paragraph (a) will continue to be used for primary production.\n\nS. 24(2B) inserted by No. 46/2001 s. 6.\n\n(2B) A transferee of a dutiable transaction referred to in subsection (2A) must make a written declaration to the Commissioner, at or before the time at which an instrument or statement relating to the transaction is lodged for stamping—\n\n(a) disclosing details known to the transferee of all of the items or parts of the dutiable property included or to be included in the arrangement referred to in subsection (1); and\n\n(b) that following the series of dutiable transactions giving effect to or arising from the arrangement, the land will continue to be used for primary production.\n\nS. 24(2C) inserted by No. 46/2001 s. 6.\n\n(2C) A declaration required by subsection (2B) must be in the approved form.\n\nS. 24(3) substituted by No. 30/2002 s. 6(2).\n\n(3) The dutiable value of aggregated dutiable property is the sum of the dutiable values of the items or parts of the dutiable property as at—\n\n(a) in the case of a transfer on a sale of the item or part—the time the contract of sale was entered into;\n\n(b) in any other case—the time the dutiable transaction relating to the item or part occurred.\n\n(4) The amount of duty payable in accordance with this section is to be reduced by the amount of any ad valorem duty paid on a prior dutiable transaction that is, or prior dutiable transactions that are, aggregated in accordance with this section.\n\n(5) Duty may be apportioned to the instruments effecting or evidencing the dutiable transactions, or may be charged in accordance with section 17, as determined by the Commissioner.\n\nS. 24(6) amended by No. 28/2017 s. 38(1).\n\n(6) A transferee to whom this section applies must disclose to the Commissioner, in writing, at or before the time at which an instrument or statement relating to the dutiable transactions is lodged for stamping, details known to the transferee of—\n\n(a) all of the items or parts of the dutiable property included or to be included in the arrangement referred to in subsection (1); and\n\n(b) the consideration for each item or part of that dutiable property.\n\ns. 24(6) inserted by No. 13/2013 s. 56(2).\n\nS. 24(6A) inserted by No. 28/2017 s. 38(2).\n\n(6A) A person does not commit an offence against subsection (6) if the person has a reasonable excuse for a failure to disclose details in accordance with that subsection.\n\nS. 24(7) inserted by No. 42/2012 s. 3(2).\n\n(7) The Commissioner may treat land as vacant land for the purposes of this section if the Commissioner is satisfied that the land is substantially vacant apart from there being the remnant of any building, or any other object or structure, that the Commissioner is satisfied has been preserved because of its heritage significance.\n\nS. 24A inserted by No. 42/2012 s. 4.\n\n","sortOrder":54},{"sectionNumber":"24A","sectionType":"section","heading":"Dutiable transactions relating to vacant land and construction of residential premises—where not constructed","content":"\t24A Dutiable transactions relating to vacant land and construction of residential premises—where not constructed\n\n(1) Dutiable transactions in respect of vacant land that would have been aggregated under section 24(1) but were not aggregated because of section 24(2) are chargeable with duty in accordance with this section if any of the following occurs in respect of the land—\n\n(a) another dutiable transaction occurs in respect of the vacant land and at the time that the other dutiable transaction occurs no residential premises that are ready for occupation as a place of residence have been constructed on the land by the transferee;\n\n(b) premises other than residential premises have been constructed on the vacant land and those premises are ready for occupation or use for the purposes for which they were constructed;\n\n(c) the transferee has not constructed residential premises on the vacant land that are ready for occupation as a place of residence within 5 years after the date on which the land was transferred to the transferee.\n\n(2) If duty is chargeable under subsection (1), the Commissioner may reassess duty on the transactions.\n\n(3) The duty chargeable under this section is calculated as follows—\n\n(a) firstly, aggregate the dutiable transactions that would have been aggregated under section 24(1) but were not aggregated because of section 24(2), as if the dutiable value of each dutiable transaction is the same as it was at the time of the dutiable transaction; and\n\n(b) secondly, calculate the duty that would be payable on the dutiable value of the aggregated dutiable property; and\n\n(c) thirdly, apportion the amount of duty that would be payable on the aggregated dutiable property to each dutiable transaction that would have been aggregated but was not; and\n\n(d) the amount of duty payable for each dutiable transaction that is chargeable with duty under subsection (1) is the amount apportioned to it under paragraph (c), less an allowance for any duty already paid in respect of that transaction.\n\nOn 1 September 2012, a builder acquires 10 lots of vacant land by completing 10 dutiable transactions. The value of each dutiable transaction is $100 000. The transactions would have been aggregated under section 24(1) and duty would have been calculated on an aggregated amount of $1 000 000. However, the builder intends to construct residential premises on each lot of vacant land. Section 24(2) applies and the transactions are not aggregated and duty is calculated on each transaction separately.\n\nOn 1 September 2015, the builder on-sells two of the lots without building residential premises on them. Duty is calculated in the following way. The 10 dutiable transactions are aggregated based on the dutiable value of the dutiable transactions at the time they occurred (10 lots x $100 000 = $1 000 000). The duty that would be payable on the dutiable value of the aggregated property is then apportioned to each dutiable transaction. The builder is re‑assessed for duty in respect of each lot the builder on‑sold, less an allowance for each lot for the duty previously paid on it. The builder must pay the difference in respect of each on-sold lot.\n\n(4) A liability for duty charged under this section arises—\n\n(a) in the case of subsection (1)(a)—when the other dutiable transaction occurs;\n\n(b) in the case of subsection (1)(b)—when the premises are ready for occupation or use for the purposes for which they were constructed;\n\n(c) in the case of subsection (1)(c)—5 years after the date on which the land was transferred to the transferee.\n\n(5) A reassessment referred to in subsection (2) is authorised if more than 5 years have passed since the initial assessment was made.\n\nSection 9(3) of the **Taxation Administration Act 1997** allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.\n\n(6) If dutiable transactions would have been aggregated under section 24(1) but were not aggregated because of the operation of section 24(2), the transferee must lodge written notice with the Commissioner within 30 days after becoming aware that any of the circumstances set out in subsection (1) have occurred in respect of any of those transactions.\n\n(7) A failure of a transferee to comply with subsection (6) does not affect the Commissioner's power to reassess duty under this section.\n\n","sortOrder":55},{"sectionNumber":"25","sectionType":"section","heading":"Apportionment—dutiable property and other property","content":"\t25 Apportionment—dutiable property and other property\n\n(1) If a dutiable transaction relates to dutiable property and property that is not dutiable property, it is chargeable with duty under this Chapter only to the extent that it relates to dutiable property.\n\n(2) If a dutiable transaction relates to different types of dutiable property for which different rates of duty are chargeable under this Chapter, the dutiable transaction is chargeable with duty under this Chapter as if a separate dutiable transaction had occurred in relation to each such type of dutiable property.\n\n","sortOrder":56},{"sectionNumber":"26","sectionType":"section","heading":"Partitions of marketable securities","content":"\t26 Partitions of marketable securities\n\nIn determining the duty to be paid on any dutiable transaction that gives effect to a partition or division of any marketable securities the Commissioner must, before assessing the duty (if any) payable on the transaction, deduct from the value of those marketable securities the value of the beneficial interest in those marketable securities held prior to the transaction by the transferee.\n\nS. 27 amended by No. 26/2015 s. 19 (ILA s. 39B(1)).\n\n","sortOrder":57},{"sectionNumber":"27","sectionType":"section","heading":"Partitions of land","content":"\t27 Partitions of land\n\n(1) In determining the duty to be paid on any dutiable transaction that gives effect to a partition or division of any estate in land, the Commissioner must, before assessing the duty (if any) payable on the transaction, deduct from the value of that estate the value of the beneficial interest in that estate held prior to the transaction by the transferee.\n\nS. 27(2) inserted by No. 26/2015 s. 19.\n\n(2) Subsection (1) does not apply when determining the duty chargeable at the rate set out in section 18A or 28A.\n\n","sortOrder":58},{"sectionNumber":"Part 3","sectionType":"part","heading":"Rates of duty","content":"Part 3—Rates of duty\n\n","sortOrder":59},{"sectionNumber":"28","sectionType":"section","heading":"General rate","content":"\t28 General rate\n\n(1) The rate of duty chargeable on a dutiable transaction is chargeable to the nearest whole dollar of the amount determined as follows or, if that amount is an amount of dollars and fifty cents, to the nearest whole dollar below that amount—\n\nS. 28(1) (Table) substituted by No. 31/2008 s. 5, amended by No. 22/2021 s. 6.\n\n| **Dutiable value of the dutiable property the subject of the dutiable transaction** | **Rate of duty** |\n| Not more than $25 000 | 1⋅4% of the dutiable value |\n| More than $25 000 but not more than $130 000 | $350 plus 2⋅4% of that part of the dutiable value that exceeds $25 000 |\n| More than $130 000 but not more than $960 000 | $2870 plus 6% of that part of the dutiable value that exceeds $130 000 |\n| More than $960 000 but   not more than $2 000 000 | 5⋅5% of the dutiable value |\n| More than $2 000 000 | $110 000 plus 6⋅5% of that part of the dutiable value that exceeds $2 000 000 |\n\n(2) This rate applies unless other provision is made by this Chapter[[1]](#endnote-2).\n\nS. 28A inserted by No. 26/2015 s. 20.\n\n","sortOrder":60},{"sectionNumber":"28A","sectionType":"section","heading":"Rate for additional duty chargeable for foreign purchasers—residential property","content":"\t28A Rate for additional duty chargeable for foreign purchasers—residential property\n\n(1) This section applies to a dutiable transaction under which a land-related interest in residential property is transferred to a foreign purchaser.\n\nS. 28A(2) amended by Nos 40/2016 s. 6, 67/2017 s. 5, 17/2019 s. 15.\n\n(2) In addition to the duty otherwise chargeable under this Chapter, duty is also chargeable at a rate of 8% of the dutiable value of the land-related interest in residential property.\n\n","sortOrder":61},{"sectionNumber":"29","sectionType":"section","heading":"Marketable securities","content":"\t29 Marketable securities\n\nThe rate of duty chargeable on dutiable transactions in respect of marketable securities is 60 cents per $100, or part, of the dutiable value of the marketable securities.\n\n","sortOrder":62},{"sectionNumber":"Part 4","sectionType":"part","heading":"Special provisions","content":"Part 4—Special provisions\n\n","sortOrder":63},{"sectionNumber":"30","sectionType":"section","heading":"Interim payment of duty","content":"\t30 Interim payment of duty\n\n(1) If the full dutiable value of dutiable property the subject of a dutiable transaction cannot, in the Commissioner's opinion, be immediately ascertained, the Commissioner may make an assessment by way of estimate under section 11(2) of the **Taxation Administration Act 1997**.\n\n(2) The written instrument or the written statement required by section 14 may be stamped \"interim stamp only\".\n\n(3) When the full dutiable value has been ascertained, the Commissioner must reassess the duty payable on the dutiable transaction.\n\n(4) If no further duty is payable, the interim stamp is to be cancelled and any amount paid in excess of the amount assessed is to be refunded.\n\n(5) If further duty is payable, liability for the further duty arises when the notice of assessment issues, despite section 11.\n\n(6) On payment of the balance of the duty (and any interest or penalty tax), the written instrument or the written statement required by section 14 is to be stamped with the amount of the balance and marked to indicate that duty has been duly paid.\n\nS. 30(7) inserted by No. 71/2004 s. 11, amended by No. 69/2013 s. 5(c).\n\n(7) This section does not apply in respect of a dutiable transaction that is effected electronically by means of an ELN or in accordance with the **Electronic Transactions (Victoria) Act 2000**.\n\nS. 30(8) inserted by No. 36/2010 s. 5.\n\n(8) This section does not apply in respect of a dutiable transaction if duty is paid using the on-line duty payment system.\n\nS. 30A inserted by No. 71/2004 s. 12.\n\n","sortOrder":64},{"sectionNumber":"30A","sectionType":"section","heading":"Interim payment of duty in relation to electronic transactions","content":"\t30A Interim payment of duty in relation to electronic transactions\n\n(1) The Commissioner may make an assessment by way of estimate under section 11(2) of the **Taxation Administration Act 1997** of  the full dutiable value of dutiable property if—\n\n(a) the property is the subject of a contract that is to be settled electronically in accordance with the **Electronic Transactions (Victoria) Act 2000**; and\n\n(b) an assessment of the probable duty liability in respect of the dutiable property is sought; and\n\n(c) the Commissioner is of the opinion that the duty liability cannot be ascertained immediately.\n\n(2) When the full dutiable value has been ascertained, the Commissioner must reassess the duty payable on the dutiable transaction.\n\n(3) If no further duty is payable, any amount paid in excess of the amount assessed is to be refunded.\n\n(4) If further duty is payable, liability for the further duty arises when the notice of assessment issues, despite section 11.\n\nS. 31 amended by Nos 44/2001 s. 3(Sch. item 32.2), 79/2001 s. 8, 58/2003 s. 8, repealed by No. 36/2005 s. 9.\n\n","sortOrder":65},{"sectionNumber":"32","sectionType":"section","heading":"Transfers arising from mortgages of land","content":"\t32 Transfers arising from mortgages of land\n\n(1) The mortgagor and the mortgagee are jointly and severally liable to pay the duty chargeable on a transfer by way of mortgage of dutiable property that is land registered under the **Transfer of Land Act 1958**.\n\n(2) If the Commissioner is satisfied that—\n\n(a) duty has been paid in accordance with this section on a transfer of dutiable property to which this section applies; and\n\n(b) the dutiable property has been re-transferred to the mortgagor (or a person to whom the land has been transmitted by death or bankruptcy) and the mortgagor (or person) is the registered proprietor of the land—\n\nthe Commissioner must refund the ad valorem duty paid on the transfer less the amount of duty that would have been payable on a mortgage under Chapter 7 (Mortgages).\n\n(3) For the purposes of this section, a transfer by way of mortgage of land registered under the **Transfer of Land Act 1958** means a transfer as a result of which the transferee becomes the registered proprietor of an estate in fee simple in the land but holds that estate, as against the transferor, by way of security.\n\nCh. 2 Pt 4A (Headings and  \nss 32A–32X) inserted by No. 36/2005 s. 10.\n\n","sortOrder":66},{"sectionNumber":"Part 4A","sectionType":"part","heading":"Transactions treated as sub-sales of land","content":"Part 4A—Transactions treated as sub-sales of land\n\nDivision 1—Introduction\n\nS. 32A inserted by No. 36/2005 s. 10, amended by No. 84/2008 s. 3(3) (ILA s. 39B(1)).\n\n","sortOrder":67},{"sectionNumber":"32A","sectionType":"section","heading":"Definitions","content":"\t32A Definitions\n\n(1) In this Part—\n\n***associate*** of a person means—\n\n(a) an associated person of that person; or\n\n(b) a person acting in concert with that person;\n\n***consideration*** means the amount of a monetary consideration or the value of a non-monetary consideration;\n\nS. 32A(1) def. of *excluded costs* inserted by No. 84/2008 s. 3(1).\n\n***excluded costs*** means—\n\n(a) legal costs or other fees or charges, including reasonable selling agents' fees and any statutory fees or charges;\n\n(b) survey or valuation payments;\n\n(c) GST other than in circumstances where an input tax credit or reduced input tax credit is available;\n\n(d) any other costs that, in the Commissioner's opinion, were reasonably incurred—\n\n(i) if the subsequent purchaser obtained the transfer right from the first purchaser—by the first purchaser as part of the sale contract;\n\n(ii) if the subsequent purchaser obtained the transfer right from another subsequent purchaser—by that other subsequent purchaser or an associate of that other subsequent purchaser in order for that other subsequent purchaser to obtain a transfer right;\n\nS. 32A(1) def. of *first purchaser* inserted by No. 84/2008 s. 3(1), amended by No. 28/2017 s. 23(1)(a).\n\n***first purchaser***—\n\n(a) for the purposes of Division 2, has the meaning given in section 32B(1)(a);\n\n(b) for the purposes of Division 3, has the meaning given in section 32I(1)(a);\n\n(ba) for the purposes of Division 3A, has the meaning given in section 32O(1)(a);\n\n(c) for the purposes of Division 4, has the meaning given in section 32P(1)(a);\n\nS. 32A(1) def. of *land development* repealed by No. 40/2016 s. 7.\n\nS. 32A(1) def. of *option* amended by No. 84/2008 s. 3(2).\n\n***option*** means—\n\n(a) a right, granted by an owner of property to another person, that entitles that other person, or a person to whom the right is assigned, to require the owner to—\n\n(i) enter into a contract of sale of the property to that other person or a subsequent assignee of that other person; or\n\n(ii) transfer the property to that other person or a subsequent assignee of that other person; or\n\n(b) a right, granted to an owner of property by another person, that entitles the owner to require that other person, or a person approved by the owner and nominated by that other person, to—\n\n(i) enter into a contract to buy the property from the owner; or\n\n(ii) accept a transfer of the property from the owner;\n\nS. 32A(1) def. of *specified Chapter 2 exemption* inserted by No. 28/2017 s. 23(1)(b).\n\n***specified Chapter 2 exemption*** means an exemption under Chapter 2 other than the following—\n\n(a) an exemption under Division 1 or 2 of Part 5;\n\n(b) an exemption under section 43;\n\nS. 32A(1) def. of *subsequent purchaser* inserted by No. 84/2008 s. 3(1), amended by No. 28/2017 s. 23(1)(c).\n\n***subsequent purchaser***—\n\n(a) for the purposes of Division 2, has the meaning given in section 32B(1)(b);\n\n(b) for the purposes of Division 3, has the meaning given in section 32I(1)(b);\n\n(ba) for the purposes of Division 3A, has the meaning given in section 32O(1)(b);\n\n(c) for the purposes of Division 4, has the meaning given in section 32P(1)(b);\n\nS. 32A(1) def. of *subsequent transaction* inserted by No. 84/2008 s. 3(1), amended by No. 28/2017 s. 23(1)(d).\n\n***subsequent transaction***—\n\n(a) for the purposes of Division 2, has the meaning given in section 32B(3);\n\n(b) for the purposes of Division 3, has the meaning given in section 32I(3);\n\n(ba) for the purposes of Division 3A, has the meaning given in section 32O(3);\n\n(c) for the purposes of Division 4, has the meaning given in section 32P(3);\n\nS. 32A(1) def. of *transfer right* inserted by No. 84/2008 s. 3(1), amended by No. 28/2017 s. 23(1)(e)(f).\n\n***transfer right***—\n\n(a) for the purposes of Division 2, has the meaning given in section 32B(1)(b);\n\n(b) for the purposes of Division 3, has the meaning given in section 32I(1)(b);\n\n(ba) for the purposes of Division 3A, has the meaning given in section 32O(4);\n\n(c) for the purposes of Division 4, has the meaning given in section 32P(4).\n\nS. 32A(2) inserted by No. 84/2008 s. 3(3), repealed by No. 28/2017 s. 23(2).\n\n","sortOrder":68},{"sectionNumber":"Div 2","sectionType":"division","heading":"Transfers involving additional consideration","content":"Division 2—Transfers involving additional consideration\n\nS. 32B inserted by No. 36/2005 s. 10.\n\n","sortOrder":69},{"sectionNumber":"32B","sectionType":"section","heading":"Application of Division","content":"\t32B Application of Division\n\n(a) a person (***the vendor***) enters into a contract (***the sale contract***) to sell or transfer the property to another person (***the first purchaser***); and\n\nS. 32B(1)(b) substituted by No. 84/2008 s. 4(1).\n\n(b) any of the following persons (a ***subsequent purchaser***) obtains the right (a ***transfer right***) to have the property or any part of it transferred, on completion of the sale contract, to the subsequent purchaser—\n\n(iii) if there is more than one first purchaser, one or more of the first purchasers in different proportions from those in the sale contract; and\n\nS. 32B(1)(c) amended by No. 84/2008 s. 4(2).\n\n(c) a subsequent purchaser or an associate of a subsequent purchaser gives or agrees to give additional consideration in order for the subsequent purchaser to obtain the transfer right; and\n\n(2) It is immaterial whether a subsequent purchaser obtains a transfer right—\n\n(a) by way of an assignment, nomination, novation or otherwise; and\n\n(3) Each assignment, nomination, novation or other arrangement by which a subsequent purchaser obtains a transfer right is called a ***subsequent transaction***.\n\nS. 32B(4) def. of *additional consideration* amended by No. 84/2008 s. 4(3)(a).\n\n***additional consideration*** for a transfer right means any consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain the transfer right (other than reimbursement of excluded costs or any increase in consideration that arises because of the operation of section 32V)—\n\n(a) if the subsequent purchaser obtained the transfer right from the first purchaser—that exceeds the consideration given or agreed to be given to the vendor by the first purchaser under the sale contract in respect of the property the subject of the transfer right;\n\n(b) if the subsequent purchaser obtained the transfer right from another subsequent purchaser—that exceeds the consideration given or agreed to be given by that other subsequent purchaser or an associate of that other subsequent purchaser in order for that other subsequent purchaser to obtain a transfer right, to the extent that the consideration relates to the first-mentioned transfer right;\n\nS. 32B(4) def. of *excluded costs* repealed by No. 84/2008 s. 4(3)(b).\n\nS. 32B(4) def. of *parallel arrangement* inserted by No. 42/2012 s. 5(1).\n\n***parallel arrangement*** means an arrangement entered into by a subsequent purchaser or an associate of the subsequent purchaser before, at the time or within 12 months after the subsequent purchaser obtains a transfer right under a sale contract, under which the following occurs—\n\n(a) if the subsequent purchaser obtained the transfer right from a first purchaser—the first purchaser or an associate of the first purchaser is required to construct, or to arrange for the construction of, improvements to the property the subject of the sale contract for consideration; or\n\n(b) if the subsequent purchaser obtained the transfer right from another subsequent purchaser—the other subsequent purchaser or an associate of the other subsequent purchaser is required to construct, or to arrange for the construction of, improvements to the property the subject of the sale contract for consideration.\n\nS. 32B(5) inserted by No. 42/2012 s. 5(2).\n\n(5) For the purposes of the definition of ***additional consideration*** in subsection (4), a subsequent purchaser or an associate of a subsequent purchaser who enters into a parallel arrangement is taken to have given or agreed to give the consideration under that arrangement in order for the subsequent purchaser to obtain the transfer right in addition to any other consideration given or agreed to be given in order for the subsequent purchaser to obtain the transfer right.\n\nS. 32B(6) inserted by No. 42/2012 s. 5(2).\n\n(6) For the purposes of subsections (4) and (5), section 32V(3) does not apply in determining the consideration under a parallel arrangement.\n\nNote to s. 32B(6) amended by No. 28/2017 s. 5.\n\nSection 32V(3) provides that in certain circumstances consideration is to be adjusted to exclude any amount paid or payable in respect of the construction of a building to be constructed on land on or after the date of the relevant transaction.\n\nS. 32C inserted by No. 36/2005 s. 10.\n\n","sortOrder":70},{"sectionNumber":"32C","sectionType":"section","heading":"How duty is charged on transfer","content":"\t32C How duty is charged on transfer\n\n(1) Duty on a transfer to which this Division applies is not charged in respect of the transfer from the vendor to the transferee, but is charged separately and distinctly on—\n\n(a) the dutiable value of the sale contract as if it had been completed by the first purchaser; and\n\nS. 32C(1)(b) substituted by No. 84/2008 s. 4(4).\n\n(b) the dutiable value of the subsequent transaction by which the final subsequent purchaser obtained the transfer right; and\n\nS. 32C(1)(c) inserted by No. 84/2008 s. 4(4).\n\nS. 32C(3) inserted by No. 84/2008 s. 4(5).\n\n(3) If a subsequent purchaser or an associate of a subsequent purchaser has not given or agreed to give additional consideration in order to obtain a transfer right, duty is not chargeable under this Division—\n\n(a) if the subsequent purchaser obtained the transfer right from the first purchaser—on the sale contract to the extent of the transfer right obtained by the subsequent purchaser; or\n\n(b) in the case of a subsequent transaction referred to in subsection (1)(c)—on the subsequent transaction by which the subsequent purchaser obtained the transfer right to the extent of the transfer right obtained by the subsequent purchaser.\n\nS. 32C(4) inserted by No. 84/2008 s. 4(5).\n\n(4) Subsection (3)(b) applies only where a subsequent purchaser obtained a transfer right from another subsequent purchaser.\n\nS. 32C(5) inserted by No. 28/2017 s. 24.\n\n(5) Despite subsection (1), duty is not charged under subsection (1)(a) or (c) (as the case requires) on an initial transaction—\n\n(a) if a person obtains a transfer right under a latter transaction that is greater than a transfer right the person obtained under the initial transaction—to the extent of the transfer right obtained by the person under the initial transaction; and\n\n(b) if a person obtains a transfer right under a latter transaction that is less than a transfer right the person obtained under the initial transaction—to the extent of the transfer right obtained by the person under the latter transaction.\n\n1 Persons A and B enter into a sale contract for dutiable property (the ***initial transaction***) and each obtain a transfer right to a 50% interest in the property. Under a subsequent transaction immediately following the sale contract (a ***latter transaction***), person A obtains a transfer right in respect of a 100% interest in the property. Duty is not charged under subsection (1)(a) in respect of the sale contract to the extent of the transfer right obtained by person A under the initial transaction (50%).\n\n2 Persons C and D enter into a subsequent transaction in relation to dutiable property (the ***initial transaction***) and each obtain a transfer right to a 50% interest in the property. Under a further subsequent transaction immediately following the initial transaction (a ***latter transaction***), person C obtains a transfer right in respect of a 75% interest in the property and person D obtains a transfer right in respect of a 25% interest in the property. Duty is not charged under subsection (1)(c) in respect of the initial transaction to the extent of—\n\n• the transfer right obtained by person C under the initial transaction (50%); and\n\n• the transfer right obtained by person D under the latter transaction (25%).\n\nS. 32C(6) inserted by No. 28/2017 s. 24.\n\n(6) In subsection (5)—\n\n***initial transaction*** means the sale contract or a subsequent transaction;\n\nS. 32D inserted by No. 36/2005 s. 10.\n\n","sortOrder":71},{"sectionNumber":"32D","sectionType":"section","heading":"Dutiable value of transactions","content":"\t32D Dutiable value of transactions\n\n(1) For the purposes of this Division, the dutiable value of the sale contract referred to in section 32C(1)(a) is the greater of—\n\n(a) the consideration given or agreed to be given under the sale contract; and\n\n(b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the sale contract was entered into.\n\nS. 32D(2) substituted by No. 84/2008 s. 4(6).\n\n(2) For the purposes of this Division, the dutiable value of a subsequent transaction referred to in section 32C(1)(b) or (c) is the greater of—\n\nS. 32D(2)(a) amended by No. 28/2017 s. 25(1).\n\n(a) the consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain the transfer right under the transaction, other than any increase in consideration that arises because of the operation of section 32V; and\n\n(b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the subsequent transaction was entered into.\n\nS. 32D(3) inserted by No. 84/2008 s. 4(6), repealed by No. 28/2017 s. 25(2).\n\nS. 32E inserted by No. 36/2005 s. 10.\n\n","sortOrder":72},{"sectionNumber":"32E","sectionType":"section","heading":"When does the liability to duty arise?","content":"\t32E When does the liability to duty arise?\n\nS. 32F inserted by No. 36/2005 s. 10.\n\n","sortOrder":73},{"sectionNumber":"32F","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t32F Who is liable to pay the duty?\n\n(a) in the case of duty referred to in section 32C(1)(a)—by the first purchaser;\n\nS. 32F(1)(b) substituted by No. 84/2008 s. 4(7).\n\n(b) in the case of duty referred to in section 32C(1)(b)—by the final subsequent purchaser;\n\nS. 32F(1)(c) inserted by No. 84/2008 s. 4(7).\n\n(c) in the case of duty referred to in section 32C(1)(c)—by the subsequent purchaser who obtains a transfer right under the relevant subsequent transaction.\n\n(2) A transferee who pays duty payable under this Division by another person may recover the amount of that duty as a debt due to the transferee from the other person.\n\nS. 32G inserted by No. 36/2005 s. 10.\n\n","sortOrder":74},{"sectionNumber":"32G","sectionType":"section","heading":"Exemptions and concessions","content":"\t32G Exemptions and concessions\n\nS. 32G(1) amended by No. 28/2017 s. 26.\n\n(1) Duty is not chargeable under section 32C(1)(a) if the sale contract would be exempt from duty under a specified Chapter 2 exemption if it were a transfer of dutiable property to the first purchaser.\n\n(2) If the first purchaser would be entitled to a concession under this Chapter if the sale contract were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32C(1)(a).\n\nS. 32G(3) amended by Nos 84/2008 s. 4(8), 28/2017 s. 26.\n\n(3) Duty is not chargeable under section 32C(1)(b) or (c) if the subsequent transaction would be exempt from duty under a specified Chapter 2 exemption if it were a transfer of dutiable property to the subsequent purchaser who obtains the transfer right under the subsequent transaction.\n\nS. 32G(4) amended by No. 84/2008 s. 4(8).\n\n(4) If a subsequent purchaser would be entitled to a concession under this Chapter if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that concession in respect of duty charged under section 32C(1)(b) or (c).\n\nS. 32G(5) inserted by No. 38/2023 s. 4.\n\n(5) If the first purchaser would be entitled to a concession under Part 2 of Chapter 11 if the sale contract were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32C(1)(a).\n\nS. 32G(6) inserted by No. 38/2023 s. 4.\n\n(6) Subject to subsection (7), a subsequent purchaser is entitled to a concession under Part 2 of Chapter 11 in respect of duty charged under section 32C(1)(b) or (c) if—\n\n(a) the subsequent purchaser would be entitled to a concession under Part 2 of Chapter 11 if the subsequent transaction were a transfer to the subsequent purchaser; and\n\n(i) a first purchaser who is liable to pay the amount of duty charged under section 32C(1)(a); or\n\n(ii) another subsequent purchaser who is liable to pay the amount of duty charged under section 32C(1)(c).\n\nS. 32G(7) inserted by No. 38/2023 s. 4.\n\n(7) If a subsequent purchaser would be entitled to an exemption under section 250B(2) if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that exemption in respect of duty charged under section 32C(1)(b) or (c).\n\nS. 32H inserted by No. 36/2005 s. 10, repealed by No. 84/2008 s. 4(9).\n\n","sortOrder":75},{"sectionNumber":"Div 3","sectionType":"division","heading":"Transfers involving land development","content":"Division 3—Transfers involving land development\n\nS. 32I inserted by No. 36/2005 s. 10.\n\n","sortOrder":76},{"sectionNumber":"32I","sectionType":"section","heading":"Application of Division","content":"\t32I Application of Division\n\n(a) a person (***the vendor***) enters into a contract (***the sale contract***) to sell or transfer the property to another person (***the first purchaser***); and\n\nS. 32I(1)(b) substituted by No. 84/2008 s. 5(1).\n\n(b) any of the following persons (a ***subsequent purchaser***) obtains the right (a ***transfer right***) to have the property or any part of it transferred, on completion of the sale contract, to the subsequent purchaser—\n\n(iii) if there is more than one first purchaser, one or more of the first purchasers in different proportions from those in the sale contract; and\n\n(c) after the sale contract is entered into, but before the property or any part of it is transferred, land development occurs in relation to the property or part; and\n\n(2) It is immaterial whether a subsequent purchaser obtains a transfer right—\n\n(a) by way of an assignment, nomination, novation or otherwise; and\n\n(3) Each assignment, nomination, novation or other arrangement by which a subsequent purchaser obtains a transfer right is called a ***subsequent transaction***.\n\nS. 32J inserted by No. 36/2005 s. 10.\n\n","sortOrder":77},{"sectionNumber":"32J","sectionType":"section","heading":"How duty is charged on transfer","content":"\t32J How duty is charged on transfer\n\n(1) Duty on a transfer to which this Division applies is not charged in respect of the transfer from the vendor to the transferee, but is charged separately and distinctly on—\n\n(a) the dutiable value of the sale contract as if it had been completed by the first purchaser; and\n\nS. 32J(1)(b) substituted by No. 84/2008 s. 5(2).\n\n(b) the dutiable value of the subsequent transaction by which the final subsequent purchaser obtained the transfer right; and\n\nS. 32J(1)(c) inserted by No. 84/2008 s. 5(2).\n\n(3) Despite subsection (1), duty is not charged under this Division on the dutiable value of a sale contract if—\n\n(a) the consideration given or agreed to be given by the first purchaser under the sale contract included consideration for the land development; or\n\nS. 32J(3)(b) amended by No. 84/2008 s. 5(3)(a).\n\n(b) the land development did not occur until after a subsequent transaction occurred; or\n\nS. 32J(3)(c) inserted by No. 84/2008 s. 5(3)(b).\n\n(c) duty is charged on the sale contract under Division 2.\n\n(4) Subsection (3)(a) does not apply if the first purchaser or an associate of the first purchaser undertook or participated in the land development at any time before a subsequent transaction occurred.\n\nS. 32J(5) amended by No. 84/2008 s. 5(4)(a).\n\n(5) Despite subsection (1), duty is not charged under this Division on the dutiable value of a subsequent transaction referred to in subsection (1)(c) if—\n\n(a) the consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain a transfer right under the transaction included consideration for the land development; or\n\nS. 32J(5)(b) substituted by No. 84/2008 s. 5(4)(b), amended by No. 28/2017 s. 27(1)(a).\n\n(b) the land development did not occur before the subsequent purchaser obtained a transfer right.\n\nS. 32J(5)(c) inserted by No. 84/2008 s. 5(4)(b), repealed by No. 28/2017 s. 27(1)(b).\n\nS. 32J(6) inserted by No. 84/2008 s. 5(5).\n\n(6) Subsection (5)(a) does not apply if the subsequent purchaser who is the transferor of the transfer right or an associate of that subsequent purchaser undertook or participated in the land development at any time before the next subsequent purchaser held a transfer right.\n\nS. 32J(7) inserted by No. 28/2017 s. 27(2).\n\n(7) Despite subsection (1), duty is not charged under this Division on the dutiable value of a subsequent transaction referred to in subsection (1)(b) or (c) (as the case requires) if duty is charged on the subsequent transaction under Division 2.\n\nS. 32J(8) inserted by No. 28/2017 s. 27(2).\n\n(8) Despite subsection (1), duty is not charged under subsection (1)(a) or (c) (as the case requires) on an initial transaction—\n\n(a) if a person obtains a transfer right under a latter transaction that is greater than a transfer right the person obtained under the initial transaction—to the extent of the transfer right obtained by the person under the initial transaction; and\n\n(b) if a person obtains a transfer right under a latter transaction that is less than a transfer right the person obtained under the initial transaction—to the extent of the transfer right obtained by the person under the latter transaction.\n\n1 Persons A and B enter into a sale contract for dutiable property (the ***initial transaction***) and each obtain a transfer right to a 50% interest in the property. Under a subsequent transaction immediately following the sale contract (a ***latter transaction***), person A obtains a transfer right in respect of a 100% interest in the property. Duty is not charged under subsection (1)(a) in respect of the sale contract to the extent of the transfer right obtained by person A under the initial transaction (50%).\n\n2 Persons C and D enter into a subsequent transaction in relation to dutiable property (the ***initial transaction***) and each obtain a transfer right to a 50% interest in the property. Under a further subsequent transaction immediately following the initial transaction (a ***latter transaction***), person C obtains a transfer right in respect of a 75% interest in the property and person D obtains a transfer right in respect of a 25% interest in the property. Duty is not charged under subsection (1)(c) in respect of the initial transaction to the extent of—\n\n• the transfer right obtained by person C under the initial transaction (50%); and\n\n• the transfer right obtained by person D under the latter transaction (25%).\n\nS. 32J(9) inserted by No. 28/2017 s. 27(2).\n\n(9) In subsection (8)—\n\n***initial transaction*** means the sale contract or a subsequent transaction;\n\nS. 32K inserted by No. 36/2005 s. 10.\n\n","sortOrder":78},{"sectionNumber":"32K","sectionType":"section","heading":"Dutiable value of transactions","content":"\t32K Dutiable value of transactions\n\n(1) For the purposes of this Division, the dutiable value of the sale contract referred to in section 32J(1)(a) is the greater of—\n\n(a) the consideration given or agreed to be given under the sale contract; and\n\n(b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date the sale contract was entered into.\n\nS. 32K(2) substituted by No. 84/2008 s. 5(6).\n\n(2) For the purposes of this Division, the dutiable value of a subsequent transaction referred to in section 32J(1)(b) or (c) is the greater of—\n\nS. 32K(2)(a) amended by No. 28/2017 s. 28(1).\n\n(a) the consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain the transfer right under the transaction, other than any increase in consideration that arises because of the operation of section 32V; and\n\n(b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the subsequent transaction was entered into.\n\nS. 32K(3) inserted by No. 84/2008 s. 5(6), repealed by No. 28/2017 s. 28(2).\n\nS. 32L inserted by No. 36/2005 s. 10.\n\n","sortOrder":79},{"sectionNumber":"32L","sectionType":"section","heading":"When does the liability to duty arise?","content":"\t32L When does the liability to duty arise?\n\nS. 32M inserted by No. 36/2005 s. 10.\n\n","sortOrder":80},{"sectionNumber":"32M","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t32M Who is liable to pay the duty?\n\n(a) in the case of duty referred to in section 32J(1)(a)—by the first purchaser;\n\nS. 32M(1)(b) substituted by No. 84/2008 s. 5(7).\n\n(b) in the case of duty referred to in section 32J(1)(b)—by the final subsequent purchaser;\n\nS. 32M(1)(c) inserted by No. 84/2008 s. 5(7).\n\n(c) in the case of duty referred to in section 32J(1)(c)—by the subsequent purchaser who obtains a transfer right under the relevant subsequent transaction.\n\n(2) A transferee who pays duty payable under this Division by another person may recover the amount of that duty as a debt due to the transferee from the other person.\n\nS. 32N inserted by No. 36/2005 s. 10.\n\n","sortOrder":81},{"sectionNumber":"32N","sectionType":"section","heading":"Exemptions and concessions","content":"\t32N Exemptions and concessions\n\nS. 32N(1) amended by No. 28/2017 s. 29.\n\n(1) Duty is not chargeable under section 32J(1)(a) if the sale contract would be exempt from duty under a specified Chapter 2 exemption if it were a transfer of dutiable property to the first purchaser.\n\n(2) If the first purchaser would be entitled to a concession under this Chapter if the sale contract were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32J(1)(a).\n\nS. 32N(3) amended by Nos 84/2008 s. 5(8), 28/2017 s. 29.\n\n(3) Duty is not chargeable under section 32J(1)(b) or (c) if the subsequent transaction would be exempt from duty under a specified Chapter 2 exemption if it were a transfer of dutiable property to the subsequent purchaser who obtains the transfer right under the subsequent transaction.\n\nS. 32N(4) amended by No. 84/2008 s. 5(8).\n\n(4) If a subsequent purchaser would be entitled to a concession under this Chapter if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that concession in respect of duty charged under section 32J(1)(b) or (c).\n\nS. 32N(5) inserted by No. 38/2023 s. 5.\n\n(5) If the first purchaser would be entitled to a concession under Part 2 of Chapter 11 if the sale contract were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32J(1)(a).\n\nS. 32N(6) inserted by No. 38/2023 s. 5.\n\n(6) Subject to subsection (7), a subsequent purchaser is entitled to a concession under Part 2 of Chapter 11 in respect of duty charged under section 32J(1)(b) or (c) if—\n\n(a) the subsequent purchaser would be entitled to a concession under Part 2 of Chapter 11 if the subsequent transaction were a transfer to the subsequent purchaser; and\n\n(i) a first purchaser who is liable to pay the amount of duty charged under section 32J(1)(a); or\n\n(ii) another subsequent purchaser who is liable to pay the amount of duty charged under section 32J(1)(c).\n\nS. 32N(7) inserted by No. 38/2023 s. 5.\n\n(7) If a subsequent purchaser would be entitled to an exemption under section 250B(2) if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that exemption in respect of duty charged under section 32J(1)(b) or (c).\n\nS. 32O inserted by No. 36/2005 s. 10, repealed by No. 84/2008 s. 5(9).\n\nCh. 2 Pt 4A Div. 3A (Heading and ss 32O-32OE) inserted by No. 28/2017 s. 30.\n\n","sortOrder":82},{"sectionNumber":"Div 3A","sectionType":"division","heading":"Transfers resulting from options involving additional consideration","content":"Division 3A—Transfers resulting from options involving additional consideration\n\nNew s. 32O inserted by No. 28/2017 s. 30.\n\n","sortOrder":83},{"sectionNumber":"32O","sectionType":"section","heading":"Application of Division","content":"\t32O Application of Division\n\n(a) the owner of the property (the ***vendor***) grants an option to, or is granted an option by, another person (the ***first purchaser***); and\n\n(b) any of the following persons (a ***subsequent purchaser***) obtains or assumes a transfer right in relation to the property*—*\n\n(i) a person other than the first purchaser;\n\n(ii) the first purchaser and a person other than the first purchaser;\n\n(iii) if there is more than one first purchaser, one or more of the first purchasers in different proportions from those specified in the option; and\n\n(c) a subsequent purchaser or an associate of a subsequent purchaser gives or agrees to give additional consideration in order for the subsequent purchaser to obtain or assume the transfer right;  and\n\n(2) It is immaterial whether a subsequent purchaser obtains or assumes a transfer right—\n\n(a) by way of an assignment, nomination, novation, option, contract of sale or otherwise; and\n\n(3) Each assignment, nomination, novation, option, contract of sale or other arrangement by which a subsequent purchaser obtains or assumes a transfer right is called a ***subsequent transaction***.\n\n***additional consideration*** for a transfer rightmeans any consideration given or agreed to be given by a subsequent purchaser or an associate of a subsequent purchaser in order for the subsequent purchaser to obtain or assume the transfer right, other than the following—\n\n(a) if the subsequent purchaser obtained or assumed the transfer right from the first purchaser, any consideration equal to the amount (if any) that the first purchaser paid to obtain the transfer right;\n\n(b) if the subsequent purchaser obtained or assumed the transfer right from another subsequent purchaser, any consideration equal to the amount (if any) that the other subsequent purchaser paid to obtain or assume the transfer right;\n\n(c) any reimbursement of excluded costs;  \n\n(d) any increase in consideration that arises because of the operation of section 32V;  \n\n***parallel arrangement*** means an arrangement entered into by a subsequent purchaser or an associate of the subsequent purchaser before, at the time or within 12 months after the subsequent purchaser obtains or assumes a transfer right, under which the following occurs—\n\n(a) if the subsequent purchaser obtained or assumed the transfer right from a first purchaser—the first purchaser or an associate of the first purchaser is required to construct, or to arrange for the construction of, improvements to the property the subject of the transfer right for consideration;\n\n(b) if the subsequent purchaser obtained or assumed the transfer right from another subsequent purchaser—the other subsequent purchaser or an associate of the other subsequent purchaser is required to construct, or to arrange for the construction of, improvements to the property the subject of the transfer right for consideration;\n\n***transfer right*** means—\n\n(a) a right to enter into a contract of sale of a property or any part of a property; or\n\n(b) a right to a transfer of a property or any part of a property; or\n\n(c) an obligation to enter into a contract of sale of a property or any part of a property; or\n\n(d) an obligation to accept a transfer of a property or any part of a property.\n\n(5) For the purposes of the definition of ***additional consideration*** in subsection (4), a subsequent purchaser or an associate of a subsequent purchaser who enters into a parallel arrangement is taken to have given or agreed to give the consideration under that arrangement in order for the subsequent purchaser to obtain or assume the transfer right in addition to any other consideration given or agreed to be given in order for the subsequent purchaser to obtain or assume the transfer right.\n\n(6) For the purposes of subsection (4) and (5), section 32V(3) does not apply in determining the consideration under a parallel arrangement.\n\nSection 32V(3) provides that in certain circumstances consideration is to be adjusted to exclude any amount paid or payable in respect of the construction of a building to be constructed on land on or after the date of the relevant transaction.\n\nS. 32OA inserted by No. 28/2017 s. 30.\n\n\t32OA How duty is charged on transfer\n\n(1) Duty on a transfer to which this Division applies is not charged in respect of the transfer from the vendor to the transferee, but is charged separately and distinctly on—\n\n(a) the dutiable value of the option; and\n\n(b) the dutiable value of the subsequent transaction by which the final subsequent purchaser obtained or assumed the transfer right; and\n\n(3) Despite subsection (1), duty is not charged under this Division on the dutiable value of a subsequent transaction referred to in subsection (1)(b) or (c) (as the case requires) if duty is charged on the subsequent transaction under Division 2 or 3.\n\n(4) Despite subsection (1), duty is not charged under subsection (1)(a) or (c) (as the case requires) on an initial transaction—\n\n(a) if a person obtains a transfer right under a latter transaction that is greater than a transfer right the person obtained under the initial transaction—to the extent of the transfer right obtained by the person under the initial transaction; and\n\n(b) if a person obtains a transfer right under a latter transaction that is less than a transfer right the person obtained under the initial transaction—to the extent of the transfer right obtained by the person under the latter transaction.\n\nA vendor grants an option that entitles persons A and B to require the vendor to enter into a contract of sale of dutiable property (the ***initial transaction***). Under the option, persons A and B each obtain a transfer right to a 50% interest in the property. Under a subsequent transaction immediately following the granting of the option (a ***latter transaction***), person A obtains a transfer right in respect of a 100% interest in the property. Duty is not charged under subsection (1)(a) in respect of the option to the extent of the transfer right obtained by person A under the initial transaction (50%).\n\n(5) In subsection (4)—\n\n***initial transaction*** means the option or a subsequent transaction;\n\n***latter transaction*** means a subsequent transaction immediately following the initial transaction.\n\nS. 32OB inserted by No. 28/2017 s. 30.\n\n\t32OB Dutiable value of transactions\n\n(1) For the purposes of this Division, the dutiable value of the option referred to in section 32OA(1)(a) is the greater of—\n\n(a) the consideration that would need to be given to complete the sale or transfer contemplated by the option (including any consideration already given for the option); and\n\n(b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the option was granted.\n\n(2) For the purposes of this Division, the dutiable value of a subsequent transaction referred to in section 32OA(1)(b) or (c) is the greater of—\n\n(a) the consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain or assume the transfer right under the transaction, other than any increase in consideration that arises because of the operation of section 32V; and\n\n(b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the subsequent transaction was entered into.\n\nS. 32OC inserted by No. 28/2017 s. 30.\n\n\t32OC When does the liability to duty arise?\n\nS. 32OD inserted by No. 28/2017 s. 30.\n\n\t32OD Who is liable to pay the duty?\n\n(a) in the case of duty referred to in section 32OA(1)(a)—by the first  \npurchaser;\n\n(b) in the case of duty referred to in section 32OA(1)(b)—by the final subsequent purchaser;\n\n(c) in the case of duty referred to in section 32OA(1)(c)—by the subsequent purchaser who obtains or assumes a transfer right under the relevant subsequent transaction.\n\n(2) A transferee who pays duty payable under this Division by another person may recover the amount of that duty as a debt due to the transferee from the other person.\n\nS. 32OE inserted by No. 28/2017 s. 30.\n\n\t32OE Exemptions and concessions\n\n(1) Duty is not chargeable under section 32OA(1)(a) if the option would be exempt from duty under a specified Chapter 2 exemption if it were a transfer of dutiable property to the first purchaser.\n\n(2) If the first purchaser would be entitled to a concession under this Chapter if the option were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32OA(1)(a).\n\n(3) Duty is not chargeable under section 32OA(1)(b) or (c) if the subsequent transaction would be exempt from duty under a specified Chapter 2 exemption if it were a transfer of dutiable property to the subsequent purchaser who obtains or assumes the transfer right under the subsequent transaction.\n\n(4) If a subsequent purchaser would be entitled to a concession under this Chapter if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that concession in respect of duty charged under section 32OA(1)(b) or (c).\n\nS. 32OE(5) inserted by No. 38/2023 s. 6.\n\n(5) If the first purchaser would be entitled to a concession under Part 2 of Chapter 11 if the option were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32OA(1)(a).\n\nS. 32OE(6) inserted by No. 38/2023 s. 6.\n\n(6) Subject to subsection (7), a subsequent purchaser is entitled to a concession under Part 2 of Chapter 11 in respect of duty charged under section 32OA(1)(b) or (c) if—\n\n(a) the subsequent purchaser would be entitled to a concession under Part 2 of Chapter 11 if the subsequent transaction were a transfer to the subsequent purchaser; and\n\n(i) a first purchaser who is liable to pay the amount of duty charged under section 32OA(1)(a); or\n\n(ii) another subsequent purchaser who is liable to pay the amount of duty charged under section 32OA(1)(c).\n\nS. 32OE(7) inserted by No. 38/2023 s. 6.\n\n(7) If a subsequent purchaser would be entitled to an exemption under section 250B(2) if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that exemption in respect of duty charged under section 32OA(1)(b) or (c).\n\nCh. 2 Pt 4A Div. 4 (Heading) amended by No. 28/2017 s. 31.\n\n","sortOrder":84},{"sectionNumber":"Div 4","sectionType":"division","heading":"Transfers resulting from options involving land development","content":"Division 4—Transfers resulting from options involving land development\n\nS. 32P inserted by No. 36/2005 s. 10.\n\n","sortOrder":85},{"sectionNumber":"32P","sectionType":"section","heading":"Application of Division","content":"\t32P Application of Division\n\n(a) the owner of the property (***the vendor***) grants an option to, or is granted an option by, another person (***the first purchaser***); and\n\nS. 32P(1)(b) substituted by No. 84/2008 s. 6(1), amended by No. 28/2017 s. 32(1)(a).\n\n(b) any of the following persons (a ***subsequent purchaser***) obtains or assumes a transfer right in relation to the property—\n\nS. 32P(1)(b)(iii) amended by No. 28/2017 s. 32(1)(b).\n\n(iii) if there is more than one first purchaser, one or more of the first purchasers in different proportions from those specified in the option; and\n\n(c) after the option is granted, but before the property or any part of it is transferred, land development occurs in relation to the property or part; and\n\nS. 32P(2) amended by No. 28/2017 s. 32(2).\n\n(2) It is immaterial whether a subsequent purchaser obtains or assumes a transfer right—\n\n(a) by way of an assignment, nomination, novation, option, contract of sale or otherwise; and\n\nS. 32P(3) amended by No. 28/2017 s. 32(2).\n\n(3) Each assignment, nomination, novation, option, contract of sale or other arrangement by which a subsequent purchaser obtains or assumes a transfer right is called a ***subsequent transaction***.\n\nS. 32P(4) inserted by No. 28/2017 s. 32(3).\n\n***transfer right*** means—\n\n(a) a right to enter into a contract of sale of a property or any part of a property; or\n\n(b) a right to a transfer of a property or any part of a property; or\n\n(c) an obligation to enter into a contract of sale of a property or any part of a property; or\n\n(d) an obligation to accept a transfer of a property or any part of a property.\n\nS. 32Q inserted by No. 36/2005 s. 10.\n\n","sortOrder":86},{"sectionNumber":"32Q","sectionType":"section","heading":"How duty is charged on transfer","content":"\t32Q How duty is charged on transfer\n\n(1) Duty on a transfer to which this Division applies is not charged in respect of the transfer from the vendor to the transferee, but is charged separately and distinctly on—\n\n(a) the dutiable value of the option; and\n\nS. 32Q(1)(b) substituted by No. 84/2008 s. 6(2), amended by No. 28/2017 s. 33(1).\n\n(b) the dutiable value of the subsequent transaction by which the final subsequent purchaser obtained or assumed the transfer right; and\n\nS. 32Q(1)(c) inserted by No. 84/2008 s. 6(2).\n\n(3) Despite subsection (1), duty is not charged under this Division on the dutiable value of an option if—\n\n(a) the consideration given or agreed to be given by the first purchaser for the option (or for the sale or transfer contemplated by the option) included consideration for the land development; or\n\nS. 32Q(3)(b) amended by No. 28/2017 s. 33(2)(a).\n\n(b) the land development did not occur until after a subsequent transaction occurred; or\n\nS. 32Q(3)(c) inserted by No. 28/2017 s. 33(2)(b).\n\n(c) duty is charged on the option under Division 3A.\n\n(4) Subsection (3)(a) does not apply if the first purchaser or an associate of the first purchaser undertook or participated in the land development at any time before a subsequent transaction occurred.\n\nS. 32Q(5) amended by No. 84/2008 s. 6(3)(a).\n\n(5) Despite subsection (1), duty is not charged under this Division on the dutiable value of a subsequent transaction referred to in subsection (1)(c) if—\n\nS. 32Q(5)(a) inserted by No. 28/2017 s. 33(3)(a).\n\n(a) the consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain or assume a transfer right under the transaction included consideration for the land development; or\n\nS. 32Q(5)(b) substituted by No. 84/2008 s. 6(3)(b), amended by No. 28/2017 s. 33(3)(b).\n\n(b) the land development did not occur before the subsequent purchaser obtained or assumed a transfer right.\n\nS. 32Q(5)(c) inserted by No. 84/2008 s. 6(3)(b), repealed by No. 28/2017 s. 33(3)(c).\n\nS. 32Q(6) inserted by No. 84/2008 s. 6(4).\n\n(6) Subsection (5)(a) does not apply if the subsequent purchaser who is the transferor of the transfer right or an associate of that subsequent purchaser undertook or participated in the land development at any time before the next subsequent purchaser held a transfer right.\n\nS. 32Q(7) inserted by No. 28/2017 s. 33(4).\n\n(7) Despite subsection (1), duty is not charged under this Division on the dutiable value of a subsequent transaction referred to in subsection (1)(b) or (c) (as the case requires) if duty is charged on the subsequent transaction under Division 2, 3 or 3A.\n\nS. 32Q(8) inserted by No. 28/2017 s. 33(4).\n\n(8) Despite subsection (1), duty is not charged under subsection (1)(a) or (c) (as the case requires) on an initial transaction—\n\n(a) if a person obtains a transfer right under a latter transaction that is greater than a transfer right the person obtained under the initial transaction—to the extent of the transfer right obtained by the person under the initial transaction; and\n\n(b) if a person obtains a transfer right under a latter transaction that is less than a transfer right the person obtained under the initial transaction—to the extent of the transfer right obtained by the person under the latter transaction.\n\nA vendor grants an option that entitles persons A and B to require the vendor to enter into a contract of sale of dutiable property (the ***initial transaction***). Under the option, persons A and B each obtain a transfer right to a 50% interest in the property. Under a subsequent transaction immediately following the granting of the option (a ***latter transaction***), person A obtains a transfer right in respect of a 100% interest in the property. Duty is not charged under subsection (1)(a) in respect of the option to the extent of the transfer right obtained by person A under the initial transaction (50%).\n\nS. 32Q(9) inserted by No. 28/2017 s. 33(4).\n\n(9) In subsection (8)—\n\n***initial transaction*** means the option or a subsequent transaction;\n\nS. 32R inserted by No. 36/2005 s. 10.\n\n","sortOrder":87},{"sectionNumber":"32R","sectionType":"section","heading":"Dutiable value of transactions","content":"\t32R Dutiable value of transactions\n\n(1) For the purposes of this Division, the dutiable value of the option referred to in section 32Q(1)(a) is the greater of—\n\n(a) the consideration that would need to be given to complete the sale or transfer contemplated by the option (including any consideration already given for the option); and\n\n(b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the option was granted.\n\nS. 32R(2) substituted by No. 84/2008 s. 6(5).\n\n(2) For the purposes of this Division, the dutiable value of a subsequent transaction referred to in section 32Q(1)(b) or (c) is the greater of—\n\nS. 32R(2)(a) amended by No. 28/2017 s. 34(1).\n\n(a) the consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain or assume the transfer right under the transaction, other than any increase in consideration that arises because of the operation of section 32V; and\n\n(b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the subsequent transaction was entered into.\n\nS. 32R(3) inserted by No. 84/2008 s. 6(5), repealed by No. 28/2017 s. 34(2).\n\nS. 32S inserted by No. 36/2005 s. 10.\n\n","sortOrder":88},{"sectionNumber":"32S","sectionType":"section","heading":"When does the liability to duty arise?","content":"\t32S When does the liability to duty arise?\n\nS. 32T inserted by No. 36/2005 s. 10.\n\n","sortOrder":89},{"sectionNumber":"32T","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t32T Who is liable to pay the duty?\n\n(a) in the case of duty referred to in section 32Q(1)(a)—by the first purchaser;\n\nS. 32T(1)(b) substituted by No. 84/2008 s. 6(6).\n\n(b) in the case of duty referred to in section 32Q(1)(b)—by the final subsequent purchaser;\n\nS. 32T(1)(c) inserted by No. 84/2008 s. 6(6), amended by No. 28/2017 s. 35.\n\n(c) in the case of duty referred to in section 32Q(1)(c)—by the subsequent purchaser who obtains or assumes a transfer right under the relevant subsequent transaction.\n\n(2) A transferee who pays duty payable under this Division by another person may recover the amount of that duty as a debt due to the transferee from the other person.\n\nS. 32U inserted by No. 36/2005 s. 10.\n\n","sortOrder":90},{"sectionNumber":"32U","sectionType":"section","heading":"Exemptions and concessions","content":"\t32U Exemptions and concessions\n\nS. 32U(1) amended by No. 28/2017 s. 36(1).\n\n(1) Duty is not chargeable under section 32Q(1)(a) if the option would be exempt from duty under a specified Chapter 2 exemption if it were a transfer of dutiable property to the first purchaser.\n\n(2) If the first purchaser would be entitled to a concession under this Chapter if the option were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32Q(1)(a).\n\nS. 32U(3) amended by Nos 84/2008 s. 6(7), 28/2017 s. 36(2).\n\n(3) Duty is not chargeable under section 32Q(1)(b) or (c) if the subsequent transaction would be exempt from duty under a specified Chapter 2 exemption if it were a transfer of dutiable property to the subsequent purchaser who obtains or assumes the transfer right under the subsequent transaction.\n\nS. 32U(4) amended by No. 84/2008 s. 6(7).\n\n(4) If a subsequent purchaser would be entitled to a concession under this Chapter if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that concession in respect of duty charged under section 32Q(1)(b) or (c).\n\nS. 32U(5) inserted by No. 38/2023 s. 7.\n\n(5) If the first purchaser would be entitled to a concession under Part 2 of Chapter 11 if the option were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32Q(1)(a).\n\nS. 32U(6) inserted by No. 38/2023 s. 7.\n\n(6) Subject to subsection (7), a subsequent purchaser is entitled to a concession under Part 2 of Chapter 11 in respect of duty charged under section 32Q(1)(b) or (c) if—\n\n(a) the subsequent purchaser would be entitled to a concession under Part 2 of Chapter 11 if the subsequent transaction were a transfer to the subsequent purchaser; and\n\n(i) a first purchaser who is liable to pay the amount of duty charged under section 32Q(1)(a); or\n\n(ii) another subsequent purchaser who is liable to pay the amount of duty charged under section 32Q(1)(c).\n\nS. 32U(7) inserted by No. 38/2023 s. 7.\n\n(7) If a subsequent purchaser would be entitled to an exemption under section 250B(2) if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that exemption in respect of duty charged under section 32Q(1)(b) or (c).\n\n","sortOrder":91},{"sectionNumber":"Div 5","sectionType":"division","heading":"Miscellaneous","content":"Division 5—Miscellaneous\n\nS. 32V inserted by No. 36/2005 s. 10.\n\n","sortOrder":92},{"sectionNumber":"32V","sectionType":"section","heading":"Provisions for determining consideration","content":"\t32V Provisions for determining consideration\n\n(1) This section applies for the purpose of determining—\n\n(a) in Division 2 or 3—\n\n(i) the consideration given or agreed to be given under a sale contract;\n\n(ii) the consideration given or agreed to be given to obtain a transfer right under a subsequent transaction;\n\nS. 32V(1)(b) amended by No. 28/2017 s. 37(a).\n\n(b) in Division 3A or 4—\n\n(i) the consideration that would need to be given to complete the sale or transfer contemplated by an option;\n\nS. 32V(1)(b)(ii) amended by No. 28/2017 s. 37(b).\n\n(ii) the consideration given or agreed to be given to obtain or assume a transfer right under a subsequent transaction.\n\n(2) The consideration is taken to include the amount or value of all encumbrances, whether certain or contingent, subject to which the property would be transferred in accordance with, or as contemplated by, the relevant transaction.\n\nS. 32V(2A) inserted by No. 28/2017 s. 6(1), amended by No. 22/2018 s. 18(1).\n\n(2A) The consideration for a transaction under this Part is to be adjusted under subsection (3) or (4) only for the following purposes—\n\n(a) calculating duty under section 57J, if that section applies by operation of section 32G, 32N, 32OE or 32U;\n\n(b) applying an exemption or a concession under section 57JA that applies by operation of section 32G, 32N, 32OE or 32U.\n\nS. 32V(2B) inserted by No. 28/2017 s. 6(1), repealed by No. 22/2018 s. 18(2), new s. 32V(2B) inserted by No. 22/2021 s. 7.\n\n(2B) Despite subsection (2A) but subject to subsection (2C), the consideration for a transaction under this Part is also to be adjusted under subsection (3) or (4) if—\n\n(a) the adjustment would result in the consideration being not more than $1 000 000; and\n\n(b) the transfer meets all the requirements to receive a concessional rate of duty under section 57J other than the requirement that the dutiable value of the dutiable property is not more than $550 000; and\n\n(c) the contract for purchase of the dutiable property is entered into on or after 1 July 2021 but before 1 July 2023.\n\nS. 32V(2C) inserted by No. 22/2021 s. 7.\n\n(2C) Subsection (2B) does not apply if the Commissioner determines that the contract for purchase of the dutiable property replaces a previous contract for the purchase of the same property entered into before 1 July 2021.\n\nS. 32V(3) amended by No. 28/2017 s. 6(2).\n\n(3) The consideration is to be adjusted to exclude any amount paid or payable in respect of the construction of a building to be constructed on land on or after the date of the relevant transaction.\n\nS. 32V(4) amended by Nos 31/2008 s. 6(1)(a), 28/2017 s. 6(3).\n\n(4) The consideration in relation to land that is a lot on a plan of subdivision within the meaning of the **Subdivision Act 1988** is to be adjusted to exclude an amount, attributable to that lot, in respect of refurbishment of that lot carried out on or after the date of the relevant transaction and before the date of the transfer of the land if—\n\n(a) the transferor was a first registered proprietor within the meaning of the **Transfer of Land Act 1958** of that lot; and\n\n(b) the sale of that lot to the transferee is the first sale of the lot after registration of the plan of subdivision; and\n\nS. 32V(4)(c) amended by No. 31/2008 s. 6(1)(b).\n\n(c) the transferee has not entered into a contract for refurbishment of the lot, other than in respect of the refurbishment referred to above.\n\nS. 32V(4)(d) repealed by No. 31/2008 s. 6(1)(c).\n\nS. 32V(4A) inserted by No. 31/2008 s. 6(2).\n\n(4A) Subsection (3) or (4) does not apply unless the transfer, when presented to or lodged with the Commissioner, is accompanied by—\n\n(a) a copy of the building permit, or building approval or permit; and\n\n(b) a copy of the contract with the transferee for the construction or refurbishment; and\n\nS. 32V(4A)(c) amended by Nos 37/2009 s. 4, 28/2017 s. 21(1).\n\n(c) information in the approved form given by the transferor as to (but not limited to) whether or not the transferor has entered into any agreement with the transferee in respect of works (other than construction or refurbishment) to be undertaken in relation to the land or the lot before the transfer; and\n\nS. 32V(4A)(d) amended by No. 28/2017 s. 21(1).\n\n(d) if the Commissioner requires, information in the approved form given by the transferee declaring that the transferee has not entered any contract, other than the contract referred to in paragraph (b), for the construction of the building or refurbishment of the lot; and\n\nS. 32V(4A)(e) amended by No. 28/2017 s. 21(1).\n\n(e) if the Commissioner requires, information in the approved form given by the person that issued the building permit or building approval or permit.\n\nNote to s. 32V(4A) inserted by No. 28/2017 s. 21(2).\n\nS. 32V(4B) inserted by No. 31/2008 s. 6(2), amended by No. 28/2017 s. 21(3).\n\n(4B) Sections 21A to 21E apply to information given under subsection (4A) as if a reference in those sections to subsections (3), (4) and (4A) of section 21 were a reference to subsections (3), (4) and (4A) of this section.\n\nS. 32V(4C) inserted by No. 26/2015 s. 21.\n\n(4C) Subsection (3) or (4) does not apply when determining the duty chargeable at the rate set out in section 18A or 28A.\n\n(5) For the purposes of this section, the date of a relevant transaction is—\n\n(a) for an option—the date on which the option was granted;\n\n(b) for a sale contract or subsequent transaction—the date on which the contract or transaction was entered into.\n\n***refurbishment*** means building work for which a building permit has been issued under the **Building Act 1993**, being work for the conversion of an existing building for which such a permit or approval is required;\n\n***relevant transaction*** means—\n\n(a) an option;\n\n(b) a sale contract;\n\n(c) a subsequent transaction.\n\nS. 32W inserted by No. 36/2005 s. 10, substituted by No. 84/2008 s. 7.\n\n","sortOrder":93},{"sectionNumber":"32W","sectionType":"section","heading":"Transactions between relatives","content":"\t32W Transactions between relatives\n\n(1) If a subsequent purchaser who obtains a transfer right from the first purchaser is—\n\n(a) a relative of the first purchaser acting on the relative's own behalf; or\n\n(b) a trustee of a fixed trust the only beneficiaries of which are relatives of the first purchaser—\n\nduty is not chargeable under this Part on the sale contract or option to the extent of the transfer right obtained by the subsequent purchaser.\n\n(2) If a subsequent purchaser (the ***second subsequent purchaser***) obtains a transfer right from another subsequent purchaser (the ***first subsequent purchaser***) under a subsequent transaction referred to in section 32C(1)(c), 32J(1)(c) or 32Q(1)(c) and the second subsequent purchaser is—\n\n(a) a relative of the first subsequent purchaser acting on the relative's own behalf; or\n\n(b) a trustee of a fixed trust the only beneficiaries of which are relatives of the first subsequent purchaser—\n\nduty is not chargeable under this Part in respect of the subsequent transaction under which the first subsequent purchaser obtained its transfer right to the extent of the transfer right obtained by the second subsequent purchaser.\n\nS. 32X inserted by No. 36/2005 s. 10.\n\n","sortOrder":94},{"sectionNumber":"32X","sectionType":"section","heading":"Parties required to provide information to Commissioner","content":"\t32X Parties required to provide information to Commissioner\n\n(a) a person (***the vendor***) enters into a contract to sell or transfer any dutiable property referred to in section 10(1)(a) or (d) to another person (***the first purchaser***), or an option is granted with respect to that property to or by the first purchaser; and\n\n(b) the transfer executed by the vendor transfers the property or any part of it not to the first purchaser but to another person (***the transferee***).\n\nS. 32X(2) amended by No. 28/2017 s. 22(1).\n\n(2) The transferee must give the Commissioner information in the approved form, containing the details required by the Commissioner for the purposes of determining any liability of the transferee or any other person to duty under this Chapter.\n\nS. 32X(3) amended by No. 28/2017 s. 22(1).\n\n(3) If the Commissioner considers it necessary for the purposes of determining liability to duty under this Chapter, the Commissioner may require any person he or she reasonably believes may be liable to duty to give the Commissioner information in the approved form, containing the details required by the Commissioner.\n\nNote to s. 32X inserted by No. 28/2017 s. 22(2).\n\nPt 4B (Heading and ss 32XA–32XI) inserted by No. 17/2019 s. 10.\n\n","sortOrder":95},{"sectionNumber":"Part 4B","sectionType":"part","heading":"Acquisition of economic entitlements in relation to relevant land","content":"Part 4B—Acquisition of economic entitlements in relation to relevant land\n\nS. 32XA inserted by No. 17/2019 s. 10.\n\n\t32XA Application of Part\n\nThis Part applies if a person acquires an economic entitlement in relation to relevant land other than by a transaction that is a dutiable transaction apart from this Part.\n\nS. 32XB inserted by No. 17/2019 s. 10.\n\n\t32XB Definition\n\nIn this Part—\n\n***relevant land*** means dutiable property referred to in section 10(1)(a), (ab), (ac) or (ad).\n\nS. 32XC inserted by No. 17/2019 s. 10.\n\n\t32XC What is an economic entitlement?\n\n(1) For the purposes of this Part, a person acquires an ***economic entitlement*** if—\n\n(a) an arrangement is made in relation to relevant land that has an unencumbered value that exceeds $1 000 000; and\n\n(b) under that arrangement the person is or will be entitled, whether directly or through another person, to any one or more of the following—\n\n(i) to participate in the income, rents or profits derived from the relevant land;\n\n(ii) to participate in the capital growth of the relevant land;\n\n(iii) to participate in the proceeds of sale of the relevant land;\n\n(iv) to receive any amount determined by reference to subparagraphs (i), (ii) or (iii);\n\n(v) to acquire any entitlement described in subparagraph (i), (ii), (iii) or (iv).\n\n(2) It is immaterial whether or not the person who acquires the economic entitlement is a party to the arrangement by which it is acquired.\n\n(3) For the avoidance of doubt, a person may acquire an economic entitlement by any means, including, but not limited to, the creation of the economic entitlement or the transfer of the economic entitlement to the person.\n\nS. 32XD inserted by No. 17/2019 s. 10.\n\n\t32XD Economic entitlement taken to be beneficial ownership of relevant land\n\n(1) A person who acquires an economic entitlement in relation to relevant land is taken to have acquired beneficial ownership of the relevant land and, subject to this Part, duty is chargeable under this Chapter accordingly.\n\n(2) For the purposes of subsection (1), the beneficial ownership of the relevant land that a person is taken to have acquired is a percentage determined under section 32XE.\n\nS. 32XE inserted by No. 17/2019 s. 10.\n\n\t32XE Calculation of percentage of beneficial ownership taken to have been acquired\n\n(1) Subject to subsection (2), the beneficial ownership acquired under an economic entitlement is the percentage of the total of all entitlements referred to in section 32XC(1)(b)(i), (ii), (iii), (iv) or (v) (as the case requires) that the person is  or will be entitled to receive or acquire under the economic entitlement.\n\n(2) The beneficial ownership acquired under an economic entitlement is 100% if—\n\n(a) the arrangement under which the economic entitlement is acquired does not specify the percentage of the economic entitlement referred to in subsection (1); or\n\n(b) the arrangement under which the economic entitlement is acquired, in addition to specifying the percentage of the economic entitlement referred to in subsection (1), includes any other entitlement of, or amount payable to, the person or an associated person; or\n\n(c) the arrangement under which the economic entitlement is acquired entitles the person or an associated person to 2 or more of the entitlements referred to in section 32XC(1)(b)(i), (ii), (iii), (iv) and (v).\n\n(3) Despite subsection (2), the Commissioner may determine a lesser percentage than the percentage referred to in that subsection in any particular case if the Commissioner considers it appropriate in the circumstances.\n\nS. 32XF inserted by No. 17/2019 s. 10.\n\n\t32XF Dutiable value of relevant land to which an economic entitlement relates\n\nDespite section 20, the dutiable value of relevant land to which an economic entitlement relates is the unencumbered value of the relevant land at the time that the economic entitlement is acquired.\n\nS. 32XG inserted by No. 17/2019 s. 10.\n\n\t32XG Phasing-in of duty\n\nIf the unencumbered value of relevant land in relation to which an economic entitlement is acquired exceeds $1 000 000 but does not exceed $2 000 000, duty is chargeable under this Chapter in accordance with the following formula—\n\n **A** is the unencumbered value of the relevant land;\n\n **B** is the duty that, apart from this section, would be chargeable under this Chapter on the acquisition of the economic entitlement.\n\nS. 32XH inserted by No. 17/2019 s. 10.\n\n\t32XH Aggregation of dutiable transactions\n\nSection 24(2) does not apply in relation to the aggregation of dutiable transactions under section 24 if any of the dutiable transactions subject to aggregation are dutiable transactions because of this Part.\n\nS. 32XI inserted by No. 17/2019 s. 10.\n\n\t32XI Reduction of duty on subsequent transfer of relevant land to person holding economic entitlement\n\nThe amount of duty payable on a transfer of relevant land to a person who, before the transfer, held an economic entitlement in relation to the relevant land is to be reduced by the amount of duty the person paid under this Part in respect of the acquisition of the relevant entitlement to the extent that, after the transfer, the beneficial ownership of the relevant land represented by the economic entitlement is held as a result of the transfer rather than under the arrangement giving rise to the economic entitlement.\n\nPart 5—Exemptions and concessional rates of duty\n\nDivision 1—Trusts\n\nS. 32XJ inserted by No. 18/2023 s. 6.\n\n\t32XJ Definitions\n\nS. 32XJ def. of *principal beneficiary* repealed by No. 50/2024 s. 14.\n\n***residence requirement*** means the requirement referred to in section 38AC as varied (if at all) by the Commissioner under section 38AD.\n\nS. 32Y inserted by No. 39/2009 s. 8.\n\n","sortOrder":96},{"sectionNumber":"32Y","sectionType":"section","heading":"References to dutiable property","content":"\t32Y References to dutiable property\n\n(a) a declaration of trust over dutiable property includes a declaration of trust over a lease referred to in section 7(1)(b)(v) or 7(1)(b)(va);\n\n(b) a transfer of dutiable property includes—\n\n","sortOrder":97},{"sectionNumber":"33","sectionType":"section","heading":"Change in trustees","content":"\t33 Change in trustees\n\n(1) In this section—\n\n***new trustee*** means a trustee appointed in substitution for a trustee or trustees or a trustee appointed in addition to a trustee or trustees;\n\nS. 33(1) def. of *special trustee* amended by No. 69/2011 s. 25.\n\n***special trustee*** means—\n\n(a) a trustee company within the meaning of the **Trustee Companies Act 1984**;\n\n(b) a corporation constituted under the law of another State or a Territory that, in the Commissioner's opinion, corresponds to a trustee company referred to in paragraph (a);\n\n(c) the trustees of a fund that is a complying superannuation fund or that, in the opinion of the trustees, will become a complying superannuation fund within 12 months after the execution of—\n\n(i) an instrument appointing a new trustee; or\n\n(ii) an instrument by which a trustee retires without a new trustee being appointed in place of the retiree.\n\nS. 33(2) amended by No. 30/2002 s. 7(1).\n\n(2) No duty is chargeable under this Chapter in respect of a transfer of dutiable property to a special trustee solely because of the retirement of a trustee or the appointment of a new trustee.\n\nS. 33(3) substituted by No. 46/2001 s. 7(1).\n\n(3) No duty is chargeable under this Chapter in respect of a transfer of dutiable property to a person other than a special trustee if the Commissioner is satisfied that the transfer is made solely—\n\n(a) because of the retirement of a trustee or the appointment of a new trustee, or other change in trustees; and\n\n(b) in order to vest the property in the trustees for the time being entitled to hold it.\n\nS. 33(4) substituted by No. 46/2001 s. 7(1).\n\n(4) If the Commissioner is not satisfied as mentioned in subsection (3), the transfer is chargeable with duty, unless subsection (5) applies.\n\n(5) No duty is chargeable under this Chapter in respect of a transfer of property as a consequence of—\n\n(a) the retirement of a responsible entity of a managed investment scheme; or\n\n(b) the appointment of a new responsible entity of a managed investment scheme—\n\nif the Commissioner is satisfied that the only beneficial interest acquired by a person in relation to the property as a result of the transfer is a beneficial interest acquired by the replacement or new responsible entity solely because of its appointment as responsible entity for the scheme.\n\n","sortOrder":98},{"sectionNumber":"34","sectionType":"section","heading":"Property vested in an apparent purchaser","content":"\t34 Property vested in an apparent purchaser\n\nS. 34(1)(a) amended by No. 30/2002 s. 7(2)(a)(i).\n\n(a) a declaration of trust made by an  apparent purchaser in respect of identified dutiable property or marketable securities referred to in section 10(2)—\n\nS. 34(1)(a)(i) amended by No. 30/2002 s. 7(2)(a)(ii).\n\n(i) vested in the apparent purchaser upon trust for the real purchaser who provided the money for the purchase of the dutiable property or marketable securities; or\n\nS. 34(1)(a)(ii) amended by No. 30/2002 s. 7(2)(a)(ii).\n\n(ii) to be vested in the apparent purchaser upon trust for the real purchaser, if the Commissioner is satisfied that the money for the purchase of the dutiable property or marketable securities has been or will be provided by the real purchaser; or\n\nS. 34(1)(b) substituted by No. 30/2002 s. 7(2)(b).\n\n(b) a transfer of dutiable property or marketable securities referred to in section 10(2) from an apparent purchaser to the real purchaser in a case where dutiable property or marketable securities are vested in an apparent purchaser upon trust for the real purchaser who provided the money for the purchase of the dutiable property or marketable securities.\n\nS. 34(1A) inserted by No. 22/2018 s. 10(1).\n\n(1A) In addition, no duty is chargeable under this Chapter as follows—\n\n(a) if a declaration of trust is made by anapparent purchaser in respect of identified dutiable property or marketable securities referred to in section 10(2) and—\n\n(i) a real purchaser has provided less than 100% of the money for the purchase of the dutiable property or marketable securities (a ***real purchaser's contribution***)—to the extent that the declaration of trust vested in the apparent purchaser on trust for the real purchaser the dutiable property or marketable securities in proportion to the real purchaser's contribution; or\n\n(ii) the Commissioner is satisfied that a real purchaser has provided or will provide less than 100% of the money for the purchase of the dutiable property or marketable securities (a ***real purchaser's contribution***)—to the extent that the declaration of trust will vest in the apparent purchaser on trust for the real purchaser the dutiable property or marketable securities in proportion to the real purchaser's contribution;\n\n(b) if there is a transfer of dutiable property or marketable securities referred to in section 10(2) from an apparent purchaser to a real purchaser and the real purchaser has provided less than 100% of the money for the purchase of the dutiable property or marketable securities (a ***real purchaser's contribution***)—to the extent that the dutiable property or marketable securities are vested in the apparent purchaser on trust in proportion to the real purchaser's contribution.\n\nPerson A and Person B purchase an estate in fee simple together, making equal contributions to the purchase price. They intend to be registered as tenants in common in equal shares. However, only Person A is registered. As a result, Person A holds 50% of the estate in fee simple as an apparent purchaser on trust for Person B, the real purchaser of that 50%.\n\nPerson A transfers the whole of the estate in fee simple to Person B. Under this transfer, 50% represents Person B's beneficial interest in the property held by Person A and the other 50% is purchased by Person B. Although the transfer is for the whole of the estate in fee simple, no duty is chargeable in respect of the 50% that was held on trust by Person A as apparent purchaser for Person B, the real purchaser.\n\nS. 34(1B) inserted by No. 22/2018 s. 10(1).\n\n(1B) For the purposes of subsection (1) and (1A), money provided by a person other than the real purchaser is taken to be provided by the real purchaser, if the Commissioner is satisfied that the money—\n\n(a) was provided as a loan; and\n\n(b) has or will be repaid by the real purchaser.\n\n(2) In this section, ***purchase*** includes an allotment.\n\nS. 34(2A) inserted by No. 71/2004 s. 13, repealed by No. 22/2018 s. 10(2).\n\nS. 34(3) inserted by No. 58/2003 s. 9(1).\n\n(3) This section applies whether or not there has been a change in the legal description of the dutiable property or marketable securities.\n\nAn example of a change in the legal description of dutiable property is the issuing of new certificates of title of land following a subdivision of the land.\n\n","sortOrder":99},{"sectionNumber":"35","sectionType":"section","heading":"Transfers to and from a trustee or nominee","content":"\t35 Transfers to and from a trustee or nominee\n\nS. 35(1) substituted by No. 84/2008 s. 8(1).\n\n(a) a transfer of dutiable property that is made by the transferor to a trustee or nominee to be held solely as trustee or nominee of the transferor, without any change in the beneficial ownership of the property; or\n\n(b) a declaration of trust by a trustee or nominee referred to in paragraph (a) under which the dutiable property referred to in that paragraph is held on trust solely for the transferor, without any change in the beneficial ownership of the property; or\n\n(c) a transfer made by way of re-transfer of dutiable property referred to in paragraph (a) to the transferor, without any change in the beneficial ownership of the dutiable property, if no person other than the transferor has had a beneficial interest in the property between the transfer to the trustee or nominee and the retransfer.\n\n(2) A reference in subsection (1) to a change in beneficial ownership of dutiable property does not include a reference to the creation of a trustee's right of indemnity from the property.\n\nS. 35(3) inserted by No. 58/2003 s. 9(2), amended by No. 84/2008 s. 8(2).\n\n(3) This section applies whether or not there has been a change in the legal description of the dutiable property.\n\nAn example of a change in the legal description of dutiable property is the issuing of new certificates of title of land following a subdivision of the land.\n\nS. 35A inserted by No. 48/2025 s. 23.\n\n","sortOrder":100},{"sectionNumber":"35A","sectionType":"section","heading":"Custodian transfers","content":"\t35A Custodian transfers\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property between—\n\n(a) a trustee of a trust and a custodian in relation to the trust; or\n\n(b) a custodian in relation to a trust and another custodian in relation to the trust; or\n\n(c) a custodian in relation to a trust and a sub-custodian in relation to the trust; or\n\n(d) a sub-custodian in relation to a trust and another sub-custodian in relation to the trust—\n\nif the transferee is to hold the property solely in the capacity of the transferee described in paragraph (a), (b), (c) or (d).\n\n***custodian***, in relation to a trust, means a custodian of a trustee of the trust;\n\n***sub-custodian***, in relation to a trust, means a sub-custodian of a custodian of a trustee of the trust.\n\nS. 36 amended by No. 46/2001 s. 7(2)(a)(b)(3), substituted by Nos 79/2001 s. 9, 84/2006 s. 3.\n\n","sortOrder":101},{"sectionNumber":"36","sectionType":"section","heading":"Property passing to beneficiaries of fixed trusts","content":"\t36 Property passing to beneficiaries of fixed trusts\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property that is subject to a fixed trust (***the principal trust***) to a beneficiary of the trust if—\n\n(a) the duty (if any) charged by this Act in respect of the dutiable transaction that resulted in the dutiable property becoming subject to the principal trust has been paid or the Commissioner is satisfied that the duty will be paid; and\n\n(b) the beneficiary was a beneficiary at the relevant time; and\n\n(c) the transfer is—\n\n(i) to the beneficiary absolutely; or\n\n(ii) to the beneficiary as trustee of another trust all the beneficiaries of which are—\n\n(A) natural persons who were beneficiaries of that other trust at the relevant time; or\n\n(B) a corporation as trustee of a further trust all the beneficiaries of which are natural persons who were beneficiaries of that further trust at the relevant time; and\n\n(d) the dutiable value of the property transferred does not exceed the value of the beneficiary's interest in the principal trust; and\n\n(e) the Commissioner is satisfied that the transfer is not part of a sale or other arrangement under which there exists any consideration for the transfer.\n\n(2) If a beneficiary would be entitled to an exemption from duty under subsection (1) but for subsection (1)(d), the beneficiary is entitled to a concession from duty in respect of so much of the dutiable value of the dutiable property that does not exceed the value of the beneficiary's interest in the principal trust.\n\n(3) Nothing in this section limits the application of the exemption in section 34.\n\n(4) A reference in this section to dutiable property becoming or first becoming subject to a trust includes a reference to property from which that dutiable property was derived, by subdivision or consolidation of titles, becoming or first becoming subject to the trust at a time when the transferee was a beneficiary of the trust.\n\n***fixed trust*** means a trust other than—\n\n(a) a discretionary trust (within the meaning of section 36A); or\n\n(b) a trust to which a unit trust scheme relates; or\n\n(c) a superannuation fund (within the meaning of section 41A);\n\n***relevant time*** in relation to dutiable property that is subject to the principal trust, means the time at which the property first became subject to the principal trust.\n\nS. 36A inserted by No. 84/2006 s. 3.\n\n","sortOrder":102},{"sectionNumber":"36A","sectionType":"section","heading":"Property passing to beneficiaries of discretionary trusts","content":"\t36A Property passing to beneficiaries of discretionary trusts\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property that is subject to a discretionary trust (***the principal trust***) to a beneficiary of the trust if—\n\n(a) the duty (if any) charged by this Act in respect of the dutiable transaction that resulted in the dutiable property becoming subject to the principal trust has been paid or the Commissioner is satisfied that the duty will be paid; and\n\n(b) the beneficiary—\n\n(i) was a beneficiary at the relevant time; or\n\n(ii) became a beneficiary after the relevant time by reason of—\n\n(A) becoming a spouse or domestic partner of a beneficiary within a class of beneficiary described in the principal trust; or\n\n(B) becoming an adopted child or step child of, or being a lineal descendant of, a beneficiary within a class of beneficiary described in the principal trust; or\n\n(C) being an adopted child, step child or lineal descendant of a person referred to in sub‑subparagraph (A); and\n\n(c) the transfer is—\n\n(i) to the beneficiary absolutely; or\n\n(ii) to the beneficiary as trustee of another trust of which all the beneficiaries are relevant beneficiaries; and\n\n(d) if—\n\n(i) the transfer is to the beneficiary absolutely; and\n\n(ii) the beneficiary is a corporation—\n\nall the shareholders of the corporation are natural persons who were beneficiaries of the principal trust at the relevant time; and\n\n(e) the Commissioner is satisfied that the transfer is not part of a sale or other arrangement under which there exists any consideration for the transfer.\n\n(2) A reference in this section to dutiable property becoming or first becoming subject to a trust includes a reference to property from which that dutiable property was derived, by subdivision or consolidation of titles, becoming or first becoming subject to the trust at a time when the transferee was a beneficiary of the trust.\n\n***beneficiary*** of a discretionary trust means a person, or a member of a class of person, in whom, by the terms of the trust, the whole or any part of the capital of the trust estate may be vested or remain vested—\n\n(a) in the event of the exercise of a power or discretion in favour of the person (whether or not that power is presently exercisable); or\n\n***discretionary trust*** means a trust under which the vesting of the whole or any part of the capital of the trust estate—\n\n(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; or\n\n(b) will occur in the event that a discretion conferred under the trust is not exercised; or\n\n(c) has occurred but under which the whole or any part of that capital will be divested from the person or persons in whom it is vested if a discretion conferred under the trust is exercised—\n\nbut does not include a trust to which a unit trust scheme relates;\n\n***relevant beneficiary*** of a trust means—\n\n(a) a natural person who—\n\n(i) was a beneficiary of that trust at the relevant time; or\n\n(ii) became a beneficiary of that trust after the relevant time by reason of—\n\n(A) becoming a spouse or domestic partner of a beneficiary within a class of beneficiary described in the principal trust; or\n\n(B) becoming an adopted child or step child of, or being a lineal descendant of, a beneficiary within a class of beneficiary described in the principal trust; or\n\n(C) being an adopted child, step child or lineal descendant of a person referred to in sub-subparagraph (A); or\n\n(b) a corporation as trustee of a further trust, all the beneficiaries of which are persons referred to in paragraph (a);\n\n***relevant time*** in relation to dutiable property that is subject to the principal trust, means the time at which the property first became subject to the principal trust.\n\nS. 36B inserted by No. 84/2006 s. 3, substituted by No. 31/2008 s. 7.\n\n","sortOrder":103},{"sectionNumber":"36B","sectionType":"section","heading":"Property passing to unitholders in unit trust schemes","content":"\t36B Property passing to unitholders in unit trust schemes\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property that is subject to a unit trust scheme (***the principal scheme***) to a unitholder in the scheme if—\n\n(a) the duty (if any) charged by this Act in respect of the dutiable transaction that resulted in the dutiable property becoming subject to the principal scheme has been paid or the Commissioner is satisfied that the duty will be paid; and\n\n(b) the unitholder was a unitholder at the relevant time; and\n\n(c) the transfer is in accordance with subsection (2); and\n\n(d) the dutiable value of the property transferred as a proportion of the net assets of the principal scheme does not exceed the value of that proportion of the net assets of the principal scheme represented by the unitholding of the unitholder in the principal scheme at the relevant time; and\n\n(e) as a result of the transfer, the value of the unitholder's unitholding in the principal scheme is reduced by the same amount as the dutiable value of the property transferred; and\n\n(f) the Commissioner is satisfied that any duty charged as a result of the occurrence of a dutiable transaction referred to in section 7(1)(b)(vi) in relation to the property has been paid; and\n\n(g) the Commissioner is satisfied that the transfer is not part of a sale or other arrangement under which there exists any consideration for the transfer.\n\n(2) The transfer must be—\n\n(a) to the unitholder absolutely, if the unitholder is—\n\n(i) a natural person; or\n\n(ii) a corporation all the shareholders of which are natural persons who were shareholders of the corporation at the relevant time; or\n\n(b) to the unitholder as trustee of a fixed trust all the beneficiaries of which are—\n\n(i) natural persons who were beneficiaries of that fixed trust at the relevant time; or\n\n(ii) a corporation all the shareholders of which are natural persons who were shareholders of the corporation at the relevant time—\n\nbeing natural persons or a corporation that do not hold their interests in the fixed trust as trustee of another trust; or\n\n(c) to the unitholder as trustee of a discretionary trust of which all the beneficiaries are—\n\n(i) natural persons who were relevant beneficiaries of that discretionary trust at the relevant time or who became beneficiaries after the relevant time by reason of—\n\n(A) becoming a spouse or domestic partner of a beneficiary within a class of beneficiary described in the discretionary trust; or\n\n(B) becoming an adopted child or step child of, or being a lineal descendant of, a beneficiary within a class of beneficiary described in the discretionary trust; or\n\n(C) being an adopted child, step child or lineal descendant of a person referred to in sub‑subparagraph (A); or\n\n(ii) a corporation all the shareholders of which are natural persons who were shareholders of the corporation at the relevant time—\n\nbeing natural persons or a corporation that do not hold their rights, entitlements or interests in the discretionary trust as trustee of another trust; or\n\n(d) to the unitholder as trustee of another unit trust scheme of which all the unitholders are—\n\n(i) natural persons who were unitholders of that other unit trust scheme at the relevant time; or\n\n(ii) a corporation all the shareholders of which are natural persons who were shareholders of the corporation at the relevant time—\n\nbeing natural persons or a corporation that do not hold their units in that other unit trust scheme as trustee of another trust; or\n\n(e) to the unitholder as trustee of a superannuation fund all the beneficiaries of which were beneficiaries at the relevant time.\n\n(3) If a unitholder would be entitled to an exemption from duty under subsection (1) but for subsection (1)(d), the unitholder is entitled to a concession from duty in respect of that proportion of the dutiable value of the dutiable property that does not exceed that proportion of the net assets of the scheme represented by the unitholding of the unitholder in the principal scheme at the relevant time.\n\n(4) A reference in this section to dutiable property becoming or first becoming subject to a unit trust scheme includes a reference to property from which that dutiable property was derived, by subdivision or consolidation of titles, becoming or first becoming subject to the scheme at a time when the unitholder was a unitholder in the principal scheme.\n\n***relevant beneficiary*** of a discretionary trust means a natural person who—\n\n(a) was a beneficiary of that trust at the relevant time; or\n\n(b) became a beneficiary of that trust after the relevant time by reason of—\n\n(i) becoming a spouse or domestic partner of a beneficiary within a class of beneficiary described in the discretionary trust; or\n\n(ii) becoming an adopted child or step child of, or being a lineal descendant of, a beneficiary within a class of beneficiary described in the discretionary trust; or\n\n(iii) being an adopted child, step child or lineal descendant of a person referred to in subparagraph (i);\n\n***relevant time*** in relation to dutiable property that is subject to the principal scheme, means the time at which the property first became subject to the principal scheme;\n\n***superannuation fund*** has the same meaning as in section 41A.\n\nS. 36C inserted by No. 84/2006 s. 3.\n\n","sortOrder":104},{"sectionNumber":"36C","sectionType":"section","heading":"Effect of certain mortgages on trust exemptions","content":"\t36C Effect of certain mortgages on trust exemptions\n\n(1) Despite section 21, the Commissioner is not to treat a transfer as part of a sale or arrangement for the purposes of section 36, 36A or 36B only because, at the time of or immediately after the transfer, the beneficiary or unitholder—\n\n(a) gives a mortgage to secure the same or a greater amount as that outstanding under a mortgage to which the property was subject immediately before the time of the transfer; or\n\n(b) assumes the liabilities under a mortgage to which the property was subject immediately before the time of the transfer—\n\nif the Commissioner is satisfied that the giving of the mortgage or the assumption of liability is not part of a sale or other arrangement designed to take advantage of an exemption or concession under section 36, 36A or 36B (as the case requires).\n\n(2) Despite section 21, in determining, for the purposes of section 36 or 36B, the dutiable value of property transferred to a beneficiary or unitholder, the dutiable value is to be reduced by the value of any mortgage to which the property is subject at or immediately after the time of the transfer if—\n\n(a) the mortgage is given by the beneficiary or unitholder to secure the same or a greater amount as that outstanding under a mortgage to which the property was subject immediately before the time of the transfer, or the liabilities under the mortgage are assumed by the beneficiary or unitholder; and\n\n(b) the Commissioner is satisfied that the giving of the mortgage or the assumption of liability under it is not part of a sale or other arrangement designed to take advantage of an exemption or concession under section 36 or 36B (as the case requires).\n\n(3) Without limiting the ways in which the Commissioner may be satisfied for the purposes of subsection (1) or (2)(b), the Commissioner will be taken to be satisfied if—\n\n(a) the mortgage was created at or before the time the property became subject to the principal trust or the unit trust scheme (as the case requires); or\n\n(b) the mortgage was part of a genuine re‑financing of a mortgage referred to in paragraph (a); or\n\n(c) the mortgage was created to secure borrowings that have been applied to the improvement of the property.\n\n","sortOrder":105},{"sectionNumber":"37","sectionType":"section","heading":"Establishment of a trust relating to unidentified property and non‑dutiable property","content":"\t37 Establishment of a trust relating to unidentified property and non‑dutiable property\n\n(1) Duty of $200 is chargeable in respect of an instrument executed in Victoria that declares a trust over Victorian property none of which is dutiable property.\n\n(2) Duty of $200 is chargeable in respect of an instrument executed in Victoria that declares that property, although not identified in the instrument, when vested in the person executing the instrument is to be held in trust for a person or persons or a purpose or purposes mentioned in the instrument.\n\n(3) It is immaterial whether or not the beneficial owner or person entitled to appoint the property has joined in or assented to the instrument.\n\n(4) A liability for duty charged by this section arises when the instrument is executed.\n\n(5) Duty charged by this section is payable by the person declaring the trust.\n\n","sortOrder":106},{"sectionNumber":"38","sectionType":"section","heading":"Exemptions from duty under section 37","content":"\t38 Exemptions from duty under section 37\n\nS. 38(1) repealed by No. 71/2004 s. 14.\n\n(2) No duty is chargeable under section 37 in respect of a declaration of trust if—\n\nS. 38(2)(a) amended by No. 58/2003 s. 10.\n\n(a) the Commissioner is satisfied that the declaration of trust has been made because of the breakdown of a marriage or domestic relationship; and\n\nS. 38(2)(b) amended by No. 58/2003 s. 10.\n\n(b) the settlor is or was a party to the marriage or domestic relationship; and\n\nS. 38(2)(c) amended by No. 58/2003 s. 10.\n\n(c) no person other than a party to the marriage or domestic relationship or a child of a party to the marriage or domestic relationship is a beneficiary of the trust.\n\n(3) No duty is chargeable under section 37 in respect of a declaration of trust over property to be held on trust solely for—\n\n(a) a religious, charitable or educational purpose; or\n\n(b) a corporation or body of persons established for a religious, charitable or educational purpose.\n\nS. 38A inserted by No. 31/2008 s. 8.\n\n","sortOrder":107},{"sectionNumber":"38A","sectionType":"section","heading":"Special disability trusts","content":"\t38A Special disability trusts\n\nS. 38A(1) amended by No. 18/2023 s. 7(1).\n\n(a) a declaration of trust that establishes a special disability trust; or\n\n(b) a transfer of dutiable property to the trustee of a special disability trust—\n\nin the circumstances set out in subsections (2), (3), (4) and (4A).\n\n(2) The person declaring the trust, or the transferor of the dutiable property (as the case requires) must be an immediate family member of the principal beneficiary of the special disability trust.\n\n(3) There must be no consideration provided for the declaration or transfer.\n\nS. 38A(4) substituted by No. 18/2023 s. 7(2).\n\n(4) The dutiable value of the property that is the subject of the declaration or transfer must not exceed—\n\n(a) for dutiable property that is an interest in land to which a building is affixed that the principal beneficiary intends to use as their principal place of residence, $1 500 000; or\n\n(b) for any other property, $500 000.\n\nS. 38A(4A) inserted by No. 18/2023 s. 7(2).\n\n(4A) For dutiable property referred to in subsection (4)(a), at the time of the transfer—\n\n(a) the dutiable property must meet the building requirement in section 38AB; and\n\n(b) it is intended that the principal beneficiary occupy the land in accordance with the residence requirement.\n\nS. 38A(5) amended by No. 18/2023 s. 7(3).\n\n(5) If, but for subsection (4), duty would not be chargeable in respect of a declaration of trust or transfer of dutiable property because of this section, duty is chargeable on the declaration or transfer only in respect of the dutiable value of the property that exceeds—\n\nS. 38A(5)(a) inserted by No. 18/2023 s. 7(3).\n\n(a) for subsection (4)(a), $1 500 000; or\n\nS. 38A(5)(b) inserted by No. 18/2023 s. 7(3).\n\n(b) for subsection (4)(b), $500 000.\n\nS. 38A(6) def. of *immediate family member* amended by No. 50/2024 s. 15(a).\n\n***immediate family member*** of a principal beneficiary, means an individual—\n\n(a) who is a natural parent, adoptive parent or step-parent of the principal beneficiary; or\n\n(b) who is, or was when the principal beneficiary was under 18 years of age, a legal guardian of the principal beneficiary; or\n\n(c) who is a grandparent of the principal beneficiary; or\n\n(d) who is a sibling of the principal beneficiary.\n\nS. 38A(6) def. of *principal beneficiary* amended by No. 46/2019 s. 10, repealed by No. 18/2023 s. 7(4).\n\nS. 38A(6) def. of *Social Security Act* repealed by No. 50/2024 s. 15(b).\n\nS. 38A(6) def. of *special disability trust* repealed by No. 50/2024 s. 15(b).\n\nS. 38A(6) def. of *Veterans' Entitlements Act* repealed by No. 50/2024 s. 15(b).\n\nS. 38AB inserted by No. 18/2023 s. 8.\n\n\t38AB Building requirement—special disability trusts\n\nFor the purposes of section 38A(4A)(a), it is a requirement that, at the time of the declaration or transfer, there is a building affixed to the land that in the Commissioner's opinion—\n\n(a) is designed and constructed primarily for residential purposes; and\n\n(b) may lawfully be used as a place of residence.\n\nS. 38AC inserted by No. 18/2023 s. 8.\n\n\t38AC Residence requirement—special disability trusts\n\n(1) For the purposes of section 38A(4A)(b), it is a requirement that the principal beneficiary occupies the land as the principal beneficiary's principal place of residence for a continuous period of at least 12 months commencing within the 12 month period immediately after the declaration or transfer.\n\n(2) In determining whether land is occupied as the principal place of residence of a principal beneficiary, account must be taken of every place of residence of the principal beneficiary, whether in Victoria or elsewhere.\n\nS. 38AD inserted by No. 18/2023 s. 8.\n\n\t38AD Variation of residence requirement—special disability trusts\n\nS. 38AE inserted by No. 18/2023 s. 8.\n\n\t38AE Liability for duty if residence requirement not complied with—special disability trusts\n\n(1) If the residence requirement for a declaration or transfer referred to in section 38A(4)(a) or (5)(a) is not complied with, the declaration or transfer is chargeable with duty—\n\n(a) at the rate set out in section 28(1) without any exemption or concession from duty under section 38A (that would otherwise have applied because of section 38A(4)(a) or (5)(a)), subject to any other exemption or concession (including the exemption or concession in section 38A that would apply because of section 38A(4)(b) or (5)(b)); and\n\n(b) the Commissioner may reassess duty on the declaration or transfer accordingly.\n\n(2) A liability for duty imposed because of subsection (1) on a declaration or transfer arises when the residence requirement for that declaration or transfer is not complied with.\n\nSection 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.\n\n(3) A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made.\n\nSection 9(3)(c) of the **Taxation Administration Act 1997** allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.\n\n(4) If the residence requirement for a declaration or transfer referred to in section 38A(4)(a) or (5)(a) is not complied with, subsection (5) applies until the trustee has paid duty for which the trustee is liable because of this section.\n\n(5) For the purposes of subsection (4)—\n\n(a) section 38A does not apply to any other declaration of a special disability trust, or transfer of dutiable property to a trustee of a special disability trust, of which the principal beneficiary is the same person as the principal beneficiary in relation to the declaration or transfer for which duty has been reassessed under subsection (1)(b); and\n\n(b) section 57P does not apply to any other transfer of dutiable property to the principal beneficiary.\n\nS. 38AF inserted by No. 18/2023 s. 8.\n\n\t38AF Trustee to notify Commissioner of change in circumstances—special disability trusts\n\n(1) A trustee who has received an exemption or concession from duty under section 38A, for a declaration or transfer referred to in section 38A(4)(a) or (5)(a), must lodge a written notice with the Commissioner within 30 days after becoming aware of any circumstances that may result in the residence requirement not being complied with.\n\n(2) A failure of a trustee to comply with subsection (1) does not affect the Commissioner's power to reassess duty under section 38AE or to exercise a discretion under section 38AD.\n\nDivision 2—Superannuation\n\nS. 38B inserted by No. 39/2009 s. 9.\n\n","sortOrder":108},{"sectionNumber":"38B","sectionType":"section","heading":"References to dutiable property","content":"\t38B References to dutiable property\n\nFor the purposes of this Division, a reference to a transfer of dutiable property includes—\n\n(a) the granting of a lease referred to in section 7(1)(b)(v);\n\n(b) the transfer or assignment of a lease referred to in section 7(1)(b)(va).\n\n","sortOrder":109},{"sectionNumber":"39","sectionType":"section","heading":"Instruments relating to superannuation","content":"\t39 Instruments relating to superannuation\n\nThe following instruments are exempt from duty—\n\n(a) an instrument that establishes, or that amends provisions governing, a fund or trust that—\n\n(i) at the time of the instrument is; or\n\n(ii) within 12 months after the instrument takes effect, in the opinion of the trustees, will be—\n\na complying superannuation fund, a complying approved deposit fund, a pooled superannuation trust or an eligible rollover fund;\n\n(b) an instrument under which an employer agrees to participate in or contribute to a fund that—\n\n(i) at the time the employer agrees to participate or contribute is; or\n\n(ii) within 12 months after that time, in the opinion of the trustees, will be—\n\na complying superannuation fund;\n\n(c) an instrument that is executed in order to set out or vary the terms of custodial arrangements concerning a fund or trust that—\n\n(i) at the time of the instrument is; or\n\n(ii) within 12 months after the instrument takes effect, in the opinion of the trustees, will be—\n\na complying superannuation fund, a complying approved deposit fund, a pooled superannuation trust or an eligible rollover fund (whether or not the instrument contains any other terms).\n\n","sortOrder":110},{"sectionNumber":"40","sectionType":"section","heading":"Transfer of property from one superannuation fund to another","content":"\t40 Transfer of property from one superannuation fund to another\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property from one superannuation fund to another if the Commissioner is satisfied that—\n\n(a) the transfer is made from a complying superannuation fund or from a fund that was a complying superannuation fund within the period of 12 months before the transfer was made; and\n\n(b) the transfer is made to a complying superannuation fund or to a superannuation fund that, in the opinion of the trustees, will be a complying superannuation fund within 12 months after the transfer is made; and\n\n(c) the transfer occurs in connection with a person's ceasing to be a member of, or otherwise ceasing to be entitled to benefits in respect of, the fund from which the dutiable property is transferred and the person's becoming a member of, or otherwise becoming entitled to benefits in respect of, the fund to which the dutiable property is transferred.\n\n(2) An application to the Commissioner for the purposes of this section is to be accompanied by the following—\n\n(a) a brief explanation of the background to the transfer and the entitlements to be extinguished and created;\n\n(b) copies of the governing rules of the complying superannuation funds concerned;\n\n(c) a statement of the property to be transferred;\n\n(d) a copy of each instrument relating to the transfer;\n\n(e) a statutory declaration from a trustee (or a director of a corporate trustee) of each of the superannuation funds concerned stating that, in the opinion of the trustee (or director), the fund will be a complying superannuation fund within 12 months after the transfer occurs.\n\n(3) The Commissioner may require further information for the purposes of this section.\n\n(4) In this section, ***complying superannuation fund*** includes a complying approved deposit fund and an eligible rollover fund.\n\n","sortOrder":111},{"sectionNumber":"41","sectionType":"section","heading":"Transfers to trustees or custodians of superannuation funds or trusts","content":"\t41 Transfers to trustees or custodians of superannuation funds or trusts\n\nS. 41(1) amended by No. 58/2003 s. 11.\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property made without monetary consideration to a trustee or custodian of a complying superannuation fund, a complying approved deposit fund, a pooled superannuation trust or an eligible rollover fund, or a fund or trust that, in the opinion of the trustees, will be a complying superannuation fund, a complying approved deposit fund, a pooled superannuation trust or an eligible rollover fund within 12 months after the transfer takes effect, where there is no change in the beneficial ownership of the property.\n\n(2) A transfer of property to or from a trustee or custodian of a pooled superannuation trust in exchange for the issue or redemption of units in the trust does not, for the purposes of this section, effect a change in the beneficial ownership of the property.\n\n(3) A transfer of property to a trustee or custodian of a complying superannuation fund, a complying approved deposit fund or an eligible rollover fund by a beneficiary of the fund does not, for the purposes of this section, effect a change in the beneficial ownership of the property.\n\nS. 41A inserted by No. 84/2006 s. 4.\n\n","sortOrder":112},{"sectionNumber":"41A","sectionType":"section","heading":"Property passing to beneficiaries of superannuation funds","content":"\t41A Property passing to beneficiaries of superannuation funds\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property that forms part of a superannuation fund to a beneficiary of the fund if—\n\n(a) the duty (if any) charged by this Act in respect of the dutiable transaction that resulted in the dutiable property becoming part of the fund has been paid or the Commissioner is satisfied that the duty will be paid; and\n\n(b) the beneficiary was a beneficiary when the property first became part of the fund; and\n\n(c) the dutiable value of the property transferred does not exceed the value of the beneficiary's interest in the fund.\n\n(2) If a beneficiary would be entitled to an exemption from duty under subsection (1) but for subsection (1)(c), the beneficiary is entitled to a concession from duty in respect of so much of the dutiable value of the dutiable property that does not exceed the value of the beneficiary's interest in the fund.\n\n(3) A reference in this section to dutiable property becoming or first becoming part of a fund includes a reference to property from which that dutiable property was derived, by subdivision or consolidation of titles, becoming or first becoming part of the fund at a time when the transferee was a beneficiary of the fund.\n\n***superannuation fund*** means a complying superannuation fund, a complying approved deposit fund, a pooled superannuation fund or an eligible rollover fund.\n\nDivision 3—Other general exemptions and concessions\n\nS. 41B inserted by No. 39/2009 s. 10.\n\n","sortOrder":113},{"sectionNumber":"41B","sectionType":"section","heading":"References to dutiable property","content":"\t41B References to dutiable property\n\n(a) a transfer of dutiable property or a vesting of dutiable property includes—\n\n(b) a declaration of trust over dutiable property includes a declaration of trust over a lease referred to in section 7(1)(b)(v) or 7(1)(b)(va).\n\n","sortOrder":114},{"sectionNumber":"42","sectionType":"section","heading":"Deceased estates","content":"\t42 Deceased estates\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property not made for valuable consideration by the legal personal representative of a deceased person to a beneficiary, being—\n\n(a) a transfer made under and in conformity with the trusts contained in the will of the deceased person or arising on an intestacy; or\n\n(b) a transfer of property the subject of a trust for sale contained in the will of the deceased person.\n\n(2) No duty is chargeable under this Chapter in respect of the vesting of any dutiable property by virtue of section 13 of the **Administration and Probate Act 1958**.\n\nS. 42(3) inserted by No. 37/2009 s. 5.\n\n(3) No duty is chargeable under this Chapter in respect of a transfer of dutiable property not made for valuable consideration by a legal personal representative of a deceased person to a beneficiary to the extent that the transfer is made in satisfaction of the beneficiary's entitlement arising under the will of the deceased person or arising on an intestacy.\n\nS. 43 amended by Nos 27/2001 s. 3(Sch. 1 items 2.3, 2.4), 71/2004 s. 15, substituted by No. 28/2017 s. 41.\n\n","sortOrder":115},{"sectionNumber":"43","sectionType":"section","heading":"Marriage and domestic relationships—transfer of principal place of residence","content":"\t43 Marriage and domestic relationships—transfer of principal place of residence\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property from one person to another person, or from 2 persons to 1 of them, or from one person to themselves and another person if—\n\n(a) the persons are spouses or domestic partners of each other; and\n\n(b) the transaction meets the requirements set out in subsection (2).\n\n(2) For the purposes of subsection (1), the requirements are—\n\n(a) no person (other than a person referred to in subsection (1)) takes or is entitled to take an interest in the dutiable property the subject of the transfer; and\n\n(b) there is no consideration for the transfer; and\n\n(c) the property is residential property.\n\nS. 43AA inserted by No. 22/2018 s. 11.\n\n\t43AA Circumstances in which consideration does not include a mortgage\n\n(1) Despite section 21, for the purposes of section 43, the consideration for a transfer does not include the amount or value of a mortgage to which the dutiable property is subject if—\n\n(a) the dutiable property that is the subject of the transfer is subject to a mortgage immediately before the transfer and the transferee, at the time of or immediately after the transfer—\n\n(i) gives a mortgage to secure the same or a greater amount as that outstanding under the mortgage immediately before the transfer; or\n\n(ii) assumes the liabilities under the mortgage; and\n\n(b) the Commissioner is satisfied that the giving of the mortgage or the assumption of the liability is not part of a sale or other arrangement designed to take advantage of the exemption under section 43.\n\n(2) Without limiting the ways in which the Commissioner may be satisfied for the purposes of subsection (1)(b), the Commissioner is taken to be satisfied if—\n\n(a) the mortgage was created at or before the time of the transfer; or\n\n(b) the mortgage was part of a genuine re‑financing of a mortgage created at or before the time of the transfer; or\n\n(c) the mortgage was created to secure borrowings that have been applied to the improvement of the property.\n\nS. 43A inserted by No. 28/2017 s. 41.\n\n","sortOrder":116},{"sectionNumber":"43A","sectionType":"section","heading":"Residence requirement for section 43 exemption","content":"\t43A Residence requirement for section 43 exemption\n\n(1) The exemption under section 43 is subject to the requirement that a person who received the exemption occupies the land as the person's principal place of residence for a continuous period of at least 12 months commencing within the 12 month period immediately after the transfer.\n\n(2) The requirement under subsection (1) is complied with if the land is occupied for the period referred to in that subsection as the principal place of residence of at least one of the persons referred to in section 43(1) (whether separately or together and whether or not the same person occupies the land for the whole period).\n\nS. 43B inserted by No. 28/2017 s. 41.\n\n","sortOrder":117},{"sectionNumber":"43B","sectionType":"section","heading":"Variation of residence requirement for section 43 exemption","content":"\t43B Variation of residence requirement for section 43 exemption\n\n(1) If satisfied there is a good reason for doing so, the Commissioner may—\n\n(a) reduce the period of residence required by section 43A; or\n\n(b) determine that a temporary absence from residence does not break the continuity of residence for the purposes of section 43A; or\n\n(c) extend the period in which the residence required by section 43A must begin.\n\n(2) If the Commissioner determines that a temporary absence from residence does not break the continuity of residence, the person who received an exemption under section 43 is not entitled to an exemption under that section in respect of any other transfer during the period of temporary absence unless the person pays duty on the original transfer calculated at the rate set out in section 28(1), subject to any other exemption or concession.\n\n(3) If a person who is occupying land the subject of a transfer to which an exemption under section 43 applies as the person's principal place of residence, or is temporarily absent from the land in accordance with a determination under subsection (1), dies, the requirement under section 43A is taken to have been complied with for the transfer.\n\nS. 43C inserted by No. 28/2017 s. 41.\n\n","sortOrder":118},{"sectionNumber":"43C","sectionType":"section","heading":"Liability for duty if residence requirement for section 43 exemption not complied with","content":"\t43C Liability for duty if residence requirement for section 43 exemption not complied with\n\n(1) If the period of residence required by section 43A for an exemption under section 43 is not complied with—\n\n(a) the transfer is chargeable with duty at the rate set out in section 28(1), subject to any other exemption or concession; and\n\n(2) A liability for duty imposed because of subsection (1) on the transfer arises when the required period of residence for the transfer is not complied with.\n\nSection 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.\n\n(3) A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made.\n\nSection 9(3)(c) of the **Taxation Administration Act 1997** allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.\n\n(4) If the period of residence required by section 43A for an exemption under section 43 is not complied with, the person who received the exemption is not entitled to an exemption under that section in respect of any other transfer until the person has paid duty for which the person is liable because of this section.\n\nS. 43D inserted by No. 28/2017 s. 41.\n\n","sortOrder":119},{"sectionNumber":"43D","sectionType":"section","heading":"Persons must notify Commissioner of change in circumstance—section 43 exemption","content":"\t43D Persons must notify Commissioner of change in circumstance—section 43 exemption\n\n(1) A person who has received an exemption under section 43 must lodge a written notice with the Commissioner within 30 days after becoming aware of any circumstances that may result in the residence requirement not being complied with.\n\n(2) A failure of the person to comply with subsection (1) does not affect the Commissioner's power to exercise a discretion under section 43B or to reassess duty under section 43C.\n\nS. 44 amended by No. 27/2001 s. 3(Sch. 1 items 2.5, 2.6), substituted by No. 84/2006 s. 5.\n\n","sortOrder":120},{"sectionNumber":"44","sectionType":"section","heading":"Breakdown of marriage and domestic relationships","content":"\t44 Breakdown of marriage and domestic relationships\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property if the Commissioner is satisfied that—\n\n(a) the transfer has been made solely because of the breakdown of a marriage or domestic relationship; and\n\n(b) the transferor is—\n\n(ii) a trustee of a trust of which a party (or both parties) to the marriage or domestic relationship is a beneficiary (or are beneficiaries); and\n\n(iii) a person referred to in subparagraph (i) and a person referred to in subparagraph (ii); or\n\n(iv) a trustee of a trust of which no person is a beneficiary other than a person referred to in subparagraph (i) or (ii); and\n\n(d) no other person takes or is entitled to take an interest in the property under the transfer.\n\n(2) No duty is chargeable under this Chapter in respect of a declaration of trust over dutiable property if the Commissioner is satisfied that—\n\n(a) the declaration of trust has been made solely because of the breakdown of a marriage or domestic relationship; and\n\n(b) the person declaring the trust is a party (or both parties) to the marriage or domestic relationship; and\n\n(c) the only persons who are beneficiaries of the trust are—\n\n(iii) a person referred to in subparagraph (i) and a person referred to in subparagraph (ii).\n\n(3) No duty is chargeable under this Chapter in respect of a transfer of dutiable property if the Commissioner is satisfied that—\n\n(a) the transfer has been made solely because of the breakdown of a marriage or domestic relationship; and\n\n(b) the transferor is a corporation; and\n\n(iii) a person referred to in subparagraph (i) and a person referred to in subparagraph (ii); or\n\n(iv) a trustee of a trust of which no person is a beneficiary other than a person referred to in subparagraph (i) or (ii); and\n\n(d) no other person takes or is entitled to take an interest in the property under the transfer; and\n\n(e) the dutiable value of the transfer does not exceed the value of the interests of the parties to the marriage or domestic relationship in the corporation; and\n\n(f) as a result of the transfer, the value of the interests of the parties to the marriage or domestic relationship in the corporation is reduced by the same amount as the dutiable value of the property transferred.\n\n(4) No duty is chargeable under this Chapter in respect of a declaration of trust over dutiable property if the Commissioner is satisfied that—\n\n(a) the declaration of trust has been made solely because of the breakdown of a marriage or domestic relationship; and\n\n(b) the person declaring the trust is a corporation; and\n\n(c) the only persons who are beneficiaries of the trust are—\n\n(iii) a person referred to in subparagraph (i) and a person referred to in subparagraph (ii); and\n\n(d) at the time of the declaration of trust, the dutiable value of the trust property does not exceed the value of the interests of the parties to the marriage or domestic relationship in the corporation; and\n\n(e) as a result of the declaration of trust, the value of the interests of the parties to the marriage or domestic relationship in the corporation is reduced by the same amount as the dutiable value of the trust property.\n\n(5) If a person would be entitled to an exemption from duty under subsection (3) but for subsection (3)(e), or under subsection (4) but for subsection (4)(d), the person is entitled to a concession from duty in respect of so much of the dutiable value of the dutiable property that does not exceed the value of the interests in the corporation referred to in subsection (3)(e) or (4)(d), as the case requires.\n\n(6) A reference in subsection (3)(e), (4)(d) or (5) to the value of the interest of a party to a marriage or domestic relationship in a corporation is a reference to the amount to which that party would be entitled on a winding-up of the corporation.\n\n***dependent child*** of a party to a marriage or domestic relationship means a child of either party (or both parties) to the marriage or domestic relationship who is in the custody, care and control of, and ordinarily resident with, either party (or both parties) to the marriage or domestic relationship.\n\nS. 45 (Heading) inserted by No. 24/2025 s. 7.\n\n","sortOrder":121},{"sectionNumber":"45","sectionType":"section","heading":"Charities","content":"\t45 Charities\n\nNo duty is chargeable under this Chapter in respect of a transfer of dutiable property to, or a declaration of trust over dutiable property to be held on trust for—\n\n(a) a religious, charitable or educational purpose; or\n\nS. 45(b) amended by No. 50/2024 s. 16(a).\n\n(b) a corporation or body of persons established for a religious, charitable or educational purpose.\n\nS. 45(c) repealed by No. 50/2024 s. 16(b).\n\nS. 45A inserted by No. 84/2006 s. 6.\n\n","sortOrder":122},{"sectionNumber":"45A","sectionType":"section","heading":"Health centres and services","content":"\t45A Health centres and services\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property to, or a declaration of trust over dutiable property to be held on trust for—\n\n(a) an ambulance service; or\n\nS. 45A(1)(b) substituted by No. 79/2008 s. 16(1).\n\n(b) a registered community health centre; or\n\n(c) a denominational hospital; or\n\n(d) a multi-purpose service; or\n\n(e) a public health service; or\n\n(f) a public hospital; or\n\nS. 45A(1)(g) amended by Nos 26/2014 s. 455(Sch. item 9), 39/2022 s. 823.\n\n(g) the Victorian Institute of Forensic Mental Health established by section 610 of the **Mental Health and Wellbeing Act 2022**.\n\n(2) Nothing in this section limits the application of any other exemption from duty.\n\nIf a denominational hospital is also a body established for charitable purposes, the exemption under section 45 may still apply.\n\n***ambulance service*** means an ambulance service created under section 23 of the **Ambulance Services Act 1986**;\n\nS. 45A(3) def. of *community health centre* repealed by No. 79/2008 s. 16(2)(a).\n\n***denominational hospital*** means a hospital listed in Schedule 2 to the **Health Services Act 1988**;\n\n***multi-purpose service*** means—\n\n(a) a body referred to in section 115V(2) of the **Health Services Act 1988**; or\n\n(b) a body declared under Part 4A of that Act to be a multi purpose service;\n\n***public health service*** means a public health service listed in Schedule 5 to the **Health Services Act 1988**;\n\nS. 45A def. of *public hospital* amended by No. 79/2008 s. 16(2)(b).\n\n***public hospital*** means a hospital listed in Schedule 1 to the **Health Services Act 1988**;\n\nS. 45A def. of *registered community health centre* inserted by No. 79/2008 s. 16(2)(c).\n\n***registered community health centre*** means a community health centre registered under Division 6 of Part 3 of the **Health Services Act 1988**.\n\n","sortOrder":123},{"sectionNumber":"46","sectionType":"section","heading":"Co-operatives","content":"\t46 Co-operatives\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property to a co‑operative that—\n\n(a) has as its primary activity the providing of any community service or benefit; and\n\nS. 46(1)(b) amended by No. 9/2013 s. 42(Sch. 2 item 7(2)).\n\n(b) was, before it was incorporated under the Co‑operatives National Law (Victoria), an unincorporated club, association or body operating to provide sporting or recreational facilities for its members and not carried on for the pecuniary profit of its members—\n\nbeing property that, immediately before the co‑operative was incorporated, was held by or on behalf of the unincorporated club, association or body.\n\n(2) No duty is chargeable under this Chapter in respect of a transfer of dutiable property—\n\nS. 46(2)(a) amended by No. 9/2013 s. 42(Sch. 2 item 7(3)).\n\n(a) because of, or to give effect to, section 413 of the Co‑operatives National Law (Victoria) (mergers of co-operatives); or\n\nS. 46(2)(b) amended by No. 9/2013 s. 42(Sch. 2 item 7(4)).\n\n(b) because of, or to give effect to, section 472 of the Co‑operatives National Law (Victoria) in respect of a transfer of engagements; or\n\nS. 46(2)(c) amended by No. 9/2013 s. 42(Sch. 2 item 7(4)).\n\n(c) because of, or to give effect to, section 472 of the Co‑operatives National Law (Victoria) in respect of a merger if the co-operative formed by the merger is a non-trading co-operative within the meaning of that Act.\n\n","sortOrder":124},{"sectionNumber":"47","sectionType":"section","heading":"Government bodies and diplomats","content":"\t47 Government bodies and diplomats\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property to—\n\n(a) the Crown in right of Victoria; or\n\nS. 47(1)(b) amended by No. 9/2020 s. 390(Sch. 1 item 27).\n\n(b) a Council within the meaning of the **Local Government Act 2020**; or\n\n(c) the Municipal Association of Victoria; or\n\nS. 47(1)(d) repealed by No. 36/2010 s. 6.\n\n(e) an authority within the meaning of the **Water Act 1989**; or\n\n(f) any person on behalf of any of the above persons.\n\n(2) No duty is chargeable under this Chapter in respect of a transfer of dutiable property to—\n\n(a) the representative in Australia of the government of another country; or\n\n(b) a foreign consul; or\n\n(c) a trade commissioner of any part of the British Commonwealth.\n\nS. 47A inserted by No. 6/2010 s. 203(1)  \n(Sch. 6 item 13.1) (as amended by No. 45/2010 s. 22).\n\n","sortOrder":125},{"sectionNumber":"47A","sectionType":"section","heading":"Transfer to Victorian Rail Track","content":"\t47A Transfer to Victorian Rail Track\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property to Victorian Rail Track from—\n\nS. 47A(1)(a) amended by No. 61/2011 s. 25(Sch. 1 item 3.1), repealed by No. 49/2019 s. 186(Sch. 4 item 14.1).\n\nS. 47A(1)(aa) inserted by No. 3/2017 s. 50(Sch. 1 item 2.1), amended by No. 49/2019 s. 186(Sch. 4 item 14.2).\n\n(aa) the Head, Transport for Victoria; or\n\nS. 47A(1)(b) amended by Nos 70/2013 s. 4(Sch. 2 item 13), 49/2019 s. 186(Sch. 4 item 14.3), substituted by No. 43/2021  \ns. 219(Sch. 1 item 4.1(a)), amended by No. 25/2025 s. 106(Sch. 1 item 12).\n\n(b) the Secretary to the Department of Transport and Planning; or\n\nS. 47A(1)(c) repealed by No. 49/2019 s. 186(Sch. 4 item 14.4), new s. 47A(1)(c) inserted by No. 43/2021  \ns. 219(Sch. 1 item 4.1(a)).\n\n(c) the Suburban Rail Loop Authority.\n\nS. 47A(2) def. of *Director of Public Transport* repealed by No. 61/2011 s. 25(Sch. 1 item 3.2(a)).\n\nS. 47A(2) def. of  \n*Head, Transport for Victoria* inserted by No. 3/2017 s. 50(Sch. 1 item 2.2).\n\n***Head, Transport for Victoria*** has the same meaning as it has in section 3 of the **Transport Integration Act 2010**;\n\nS. 47A(2) def. of  \n*Public Transport Development Authority* inserted by No. 61/2011 s. 25(Sch. 1 item 3.2(b)), repealed by No. 49/2019 s. 186(Sch. 4 item 14.5).\n\nS. 47A(2) def. of *Suburban Rail Loop Authority* inserted by No. 43/2021 s. 219(Sch. 1 item 4.1(b)(i)).\n\n***Suburban Rail Loop Authority*** means the Authority within the meaning of section 3 of the **Suburban Rail Loop Act 2021**;\n\nS. 47A(2) def. of *Transport Infrastructure Development Agent* repealed by No. 43/2021 s. 219(Sch. 1 item 4.1(b)(ii)).\n\n ** * * * **\n\n***Victorian Rail Track*** has the same meaning as it has in section 3 of the **Transport Integration Act 2010**.\n\n","sortOrder":126},{"sectionNumber":"48","sectionType":"section","heading":"Bankruptcies and administrations","content":"\t48 Bankruptcies and administrations\n\nNo duty is chargeable under this Chapter in respect of—\n\n(a) a transfer of dutiable property because of—\n\n(i) the appointment of a receiver or trustee in bankruptcy; or\n\n(ii) the appointment of a liquidator; or\n\nS. 48(b) amended by No. 44/2001 s. 3(Sch. item 32.2).\n\n(b) the vesting of any dutiable property in a liquidator by an order under section 474(2) of the Corporations Act; or\n\n(c) a transfer of dutiable property for no consideration to a former bankrupt from the estate of the former bankrupt; or\n\nS. 48(ca) inserted by No. 71/2004 s. 16.\n\n(ca) a transfer for consideration of dutiable property previously held by a bankrupt from a trustee in bankruptcy to the spouse or domestic partner of the bankrupt if, after the transfer, the property is the principal place of residence of the bankrupt's spouse or domestic partner; or\n\n(d) the vesting of any dutiable property by a vesting order made under section 51 of the **Trustee Act 1958**.\n\nS. 48A inserted by No. 46/2001 s. 8.\n\n","sortOrder":127},{"sectionNumber":"48A","sectionType":"section","heading":"Amalgamation of industrial organisations","content":"\t48A Amalgamation of industrial organisations\n\nNo duty is chargeable under this Chapter in respect of a transfer of dutiable property made under, or in accordance with, the rules of an industrial organisation, if the transfer is made to another industrial organisation as a consequence of the amalgamation of two or more industrial organisations.\n\nS. 49 repealed by No. 36/2005 s. 11,  \nnew s. 49 inserted by No. 39/2009 s. 11.\n\n","sortOrder":128},{"sectionNumber":"49","sectionType":"section","heading":"Leases of residential sites in caravan parks","content":"\t49 Leases of residential sites in caravan parks\n\n(1) No duty is chargeable under this Chapter in respect of the granting, transfer, assignment or surrender of a lease if—\n\n(a) the lease is a lease for a site or a site and caravan in a registered caravan park; and\n\n(b) a caravan is located or to be located on the site and is used or intended to be used as the principal place of residence of the lessee or intended lessee.\n\nS. 49(2)(a) substituted by No. 67/2010 s. 171.\n\n(a) ***site*** has the same meaning as it has in the **Residential Tenancies Act 1997** and includes a ***Part 4A site*** under that Act; and\n\nS. 49(2)(ab) inserted by No. 67/2010 s. 171.\n\n(ab) ***caravan*** has the same meaning as it has in the **Residential Tenancies Act 1997** and includes a ***Part 4A dwelling*** under that Act; and\n\nS. 49(2)(ac) inserted by No. 67/2010 s. 171.\n\n(ac) ***caravan park*** has the same meaning as it has in the **Residential Tenancies Act 1997**; and\n\n(b) ***registered caravan park*** means a caravan park that is registered in accordance with the regulations made under section 515 of the **Residential Tenancies Act 1997**.\n\nS. 50 amended by No. 44/2001 s. 3(Sch. item 32.3), repealed by No. 36/2005 s. 11.\n\nS. 50A inserted by No. 46/2004 s. 7.\n\n","sortOrder":129},{"sectionNumber":"50A","sectionType":"section","heading":"Conversion of land use entitlements to different form of title","content":"\t50A Conversion of land use entitlements to different form of title\n\nNo duty is chargeable under this Chapter in respect of the transfer of an estate in fee simple in a lot on a registered plan of subdivision within the meaning of the **Subdivision Act 1988** if—\n\n(a) the transferee, immediately before registration of the plan, held a land use entitlement in respect of the land or part of the land the subject of the plan; and\n\n(b) the transfer is part of an arrangement under which the transferee will take an interest in the lot similar in effect to, and in substitution for, the interest the transferee held under the land use entitlement immediately before the registration of the plan; and\n\n(c) either of the following applies—\n\n(i) ad valorem duty was paid at the time the land use entitlement was acquired by the transferee; or\n\n(ii) no duty was chargeable on the acquisition of the land use entitlement because of section 34, 36, 42 or 44.\n\nDivision 4—Exemptions and concessions in relation to land\n\nS. 50B inserted by No. 39/2009 s. 12.\n\n","sortOrder":130},{"sectionNumber":"50B","sectionType":"section","heading":"References to dutiable property","content":"\t50B References to dutiable property\n\n(a) a transfer of dutiable property includes—\n\n(b) a transfer of an estate in fee simple includes—\n\nS. 51 substituted by No. 42/2012 s. 8.\n\n","sortOrder":131},{"sectionNumber":"51","sectionType":"section","heading":"Public rights of way","content":"\t51 Public rights of way\n\nNo duty is chargeable under this Chapter in respect of the dedication of a free and perpetual right of way to the use of the public.\n\n","sortOrder":132},{"sectionNumber":"52","sectionType":"section","heading":"Government bodies","content":"\t52 Government bodies\n\nNo duty is chargeable under this Chapter in respect of a transfer of dutiable property referred to in section 10(1)(a) to—\n\n(a) the Minister administering the **Crown Land (Reserves) Act 1978**; or\n\n(b) the Minister administering the **Planning and Environment Act 1987**; or\n\nS. 52(c) amended by No. 40/2022 s. 51.\n\n(c) Homes Victoria (within the meaning of section 4(1) of the **Housing Act 1983**); or\n\nS. 52(d) substituted by No. 6/2010 s. 203(1)  \n(Sch. 6 item 13.2) (as amended by No. 45/2010 s. 22), amended by No. 49/2019 s. 186(Sch. 4 item 14.6).\n\n(d) the Head, Transport for Victoria within the meaning of the **Transport Integration Act 2010**; or\n\n(e) a person on behalf of a public department of Victoria or the Commonwealth.\n\nS. 52A inserted by No. 37/2009 s. 6.\n\n","sortOrder":133},{"sectionNumber":"52A","sectionType":"section","heading":"Joint government enterprise—water saving projects","content":"\t52A Joint government enterprise—water saving projects\n\nNo duty is chargeable under this Chapter in respect of a transfer of dutiable property being an estate in fee simple to a joint government enterprise that has the function of allocating funds for water saving projects if the joint government enterprise acquires the property for the purposes of encouraging water efficiency measures.\n\n","sortOrder":134},{"sectionNumber":"53","sectionType":"section","heading":"Defence service homes","content":"\t53 Defence service homes\n\nNo duty is chargeable under this Chapter in respect of a transfer of dutiable property referred to in section 10(1)(a) by the Director of Defence Service Homes—\n\n(a) to a purchaser within the meaning of section 4 of the Defence Service Homes Act 1918 of the Commonwealth; or\n\n(b) to the personal representative of such a purchaser.\n\n","sortOrder":135},{"sectionNumber":"54","sectionType":"section","heading":"Joint tenants and tenants in common","content":"\t54 Joint tenants and tenants in common\n\nNo duty is chargeable under this Chapter in respect of a transfer of dutiable property referred to in section 10(1)(a)—\n\n(a) by joint tenants to themselves as tenants in common in equal shares; or\n\n(b) by tenants in common in equal shares to themselves as joint tenants.\n\nS. 55 repealed by No. 36/2005 s. 11, new s. 55 inserted by No. 85/2005 s. 4.\n\n","sortOrder":136},{"sectionNumber":"55","sectionType":"section","heading":"Equity release programs","content":"\t55 Equity release programs\n\n(1) No duty is chargeable under this Chapter in respect of a transaction if, on application, the Commissioner is satisfied that it is a transaction taking place on or after 15 June 2005 under an equity release program that results in a change in beneficial ownership of dutiable property, being—\n\nS. 55(1)(a) amended by No. 22/2018 s. 12(1).\n\n(a) the acquisition of a beneficial interest in the property by the permitted provider as a result of the execution of the sale contract and payment of the amount payable by the permitted provider to the homeowner on the day the sale contract is executed or within 5 business days afterwards; or\n\n(b) the extinction of the beneficial interest, or part of the beneficial interest, in the property referred to in paragraph (a).\n\n(2) An application for an exemption under this section—\n\n(a) must be in the approved form; and\n\n(b) must be accompanied by a copy of the sale contract.\n\n(3) The Commissioner may require further information for the purposes of this section.\n\nS. 55(3A) inserted by No. 47/2020 s. 6(1).\n\n(3A) The Commissioner, in accordance with guidelines issued under subsection (3B), may by instrument approve a person to be a permitted provider for the purposes of this section.\n\nS. 55(3B) inserted by No. 47/2020 s. 6(1).\n\n(3B) The Treasurer must issue guidelines for the exercise of the Commissioner's power of approval under subsection (3A).\n\nS. 55(3C) inserted by No. 47/2020 s. 6(1).\n\n(3C) The Treasurer must cause guidelines issued under subsection (3B) to be published in the Government Gazette.\n\nS. 55(4) def. of *equity release program* amended by No. 22/2018 s. 12(2)(b).\n\n***equity release program*** means an arrangement between a permitted provider and a homeowner in accordance with which the permitted provider and the homeowner enter into a contract of sale of land occupied as the homeowner's principal place of residence (***the sale contract***), under which—\n\n(a) the permitted provider purchases a part interest in the land; and\n\n(b) the permitted provider pays the homeowner an amount for that interest on the day that the sale contract is executed or within 5 business days afterwards; and\n\n(c) subject to paragraph (d), the homeowner retains legal title to the whole of the land and the land is not mortgaged after the sale contract has come into existence; and\n\n(d) the sale contract may be terminated only in one of the following ways—\n\n(i) by the homeowner paying an amount to the permitted provider; or\n\n(ii) if the homeowner vacates the land, by the permitted provider requiring the homeowner to pay an amount to the permitted provider and the homeowner paying that amount; or\n\n(iii) by the homeowner selling the property to a third party and paying an amount to the permitted provider on the completion of that sale; or\n\n(iv) if the homeowner (or, if there is more than one, the surviving homeowner) dies, by the land being sold to a third party and an amount being paid to the permitted provider on the completion of that sale; and\n\n(e) the homeowner is not required to make any payments to the permitted provider during the life of the sale contract in any form that in substance reflects interest;\n\nS. 55(4) def. of *financial institution* repealed by No. 22/2018 s. 12(2)(d).\n\nS. 55(4) def. of *homeowner* substituted by No. 84/2008 s. 9(a), amended by No. 22/2018 s. 12(2)(c).\n\n***homeowner*** means a person—\n\n(a) who is of or over the age of 60 years on the day on which the sale contract is entered into; and\n\n(b) who, immediately before entering into the sale contract, holds an estate in fee simple in the whole of the land that is occupied by the person as his or her principal place of residence and whose estate is not subject to any mortgage;\n\nS. 55(4) def. of *pension age* repealed by No. 84/2008 s. 9(b).\n\nS. 55(4) def. of *permitted provider* inserted by No. 22/2018 s. 12(2)(a), amended by No. 47/2020 s. 6(2).\n\n***permitted provider*** means—\n\n(a) a body regulated by APRA within the meaning of section 3(2) of the Australian Prudential Regulation Authority Act 1998 of the Commonwealth; or\n\n(b) a co-operative within the meaning of the Co-operatives National Law (Victoria); or\n\n(c) a co-operative housing society within the meaning of the **Co‑operative Housing Societies Act 1958**; or\n\n(d) a friendly society; or\n\n(e) a body referred to in paragraph (d) of the definition of ***financial institution*** in section 3(1); or\n\n(f) a person approved by the Commissioner under subsection (3A).\n\n(5) Two or more persons together are homeowners if each of them satisfies the definition of ***homeowner*** in subsection (4).\n\nS. 55A inserted by No. 22/2021 s. 8.\n\n","sortOrder":137},{"sectionNumber":"55A","sectionType":"section","heading":"Shared equity arrangements","content":"\t55A Shared equity arrangements\n\nNo duty is chargeable under this Chapter in respect of a change in beneficial ownership resulting from an owner of land purchased under a shared equity arrangement paying money to the State under the arrangement.\n\nS. 55B inserted by No. 10/2025 s. 13.\n\n","sortOrder":138},{"sectionNumber":"55B","sectionType":"section","heading":"Commonwealth Help to Buy arrangements","content":"\t55B Commonwealth Help to Buy arrangements\n\n(1) No duty is chargeable under this Chapter in respect of a change in beneficial ownership resulting from an owner of land purchased under a Help to Buy arrangement paying money to the Commonwealth or Housing Australia under the arrangement.\n\n***Help to Buy arrangement*** has the same meaning as in the Help to Buy Act 2024 of the Commonwealth;\n\n***Housing Australia*** has the same meaning as in the Housing Australia Act 2018 of the Commonwealth.\n\n","sortOrder":139},{"sectionNumber":"56","sectionType":"section","heading":"Transfers of farms to relatives or charities","content":"\t56 Transfers of farms to relatives or charities\n\n(1) No duty is chargeable under this Chapter in respect of a transfer of dutiable property if the Commissioner is satisfied that—\n\nS. 56(1)(a) amended by Nos 58/2003 s. 12, 88/2005 s. 117(Sch. 2 item 1.1).\n\n(a) the dutiable property is an estate in fee simple, life estate or estate in remainder in land referred to in section 65, 66 or 67 of the **Land Tax Act 2005**; and\n\n(b) the transferor is a person referred to in subsection (2); and\n\n(c) the transferee is a person referred to in subsection (3); and\n\n(d) the transfer does not arise from arrangements or a scheme devised for the principal purpose of taking advantage of the benefit of this section.\n\n(2) The transferor must be—\n\n(a) a natural person; or\n\n(b) a trustee for a natural person; or\n\nS. 56(2)(c) substituted by No. 37/2009 s. 7(1).\n\n(c) a company (not acting in the capacity of trustee under a trust) all the shares in which are owned by natural persons who are relatives of each other; or\n\nS. 56(2)(d) inserted by No. 37/2009 s. 7(1).\n\n(d) a trustee under—\n\n(i) a discretionary trust, the capital beneficiaries of which are limited to natural persons who are relatives of each other; or\n\n(ii) a fixed trust, the beneficiaries of which are limited to natural persons who are relatives of each other.\n\n(3) The transferee must be—\n\n(a) a relative of a natural person referred to in subsection (2); or\n\n(b) a trustee under a fixed trust, the beneficiaries of which are limited to—\n\n(i) a present or future relative of a natural person referred to in subsection (2); or\n\n(ii) a charitable institution; or\n\n(iii) a present or future relative of a natural person referred to in subsection (2) and a charitable institution; or\n\n(iv) a present or future relative of a natural person referred to in subsection (2) and a natural person referred to in subsection (2); or\n\n(v) a charitable institution and a natural person referred to in subsection (2); or\n\n(vi) a present or future relative of a natural person referred to in subsection (2), a natural person referred to in subsection (2) and a charitable institution; or\n\nS. 56(3)(c) amended by No. 88/2005 s. 117(Sch. 2 item 1.1).\n\n(c) a trustee under a discretionary trust the terms of which do not allow the distribution of the whole or any part of the capital of the trust that comprises land referred to in section 65, 66 or 67 of the **Land Tax Act 2005** to any person or body other than a person or body referred to in paragraph (b); or\n\nS. 56(3)(d) amended by No. 37/2009 s. 7(2).\n\n(d) a natural person referred to in subsection (2)(c) or (2)(d).\n\nS. 56(4) def. of *capital beneficiary* inserted by No. 37/2009 s. 7(3).\n\n***capital beneficiary*** of a discretionary trust means a person, or a member of a class of person, in whom, by the terms of the trust, the whole or any part of the capital of the trust estate may be vested or remain vested—\n\n(a) in the event of the exercise of a power or discretion in favour of the person (whether or not that power is presently exercisable); or\n\n***charitable institution*** means a corporation or body of persons associated for charitable purposes;\n\n***fixed trust*** means a trust under which the identity of the beneficiaries and the quantum of their interests are ascertained.\n\nS. 57 substituted by No. 39/2009 s. 13.\n\n","sortOrder":140},{"sectionNumber":"57","sectionType":"section","heading":"Subsequent transfer not dutiable if duty paid on lease","content":"\t57 Subsequent transfer not dutiable if duty paid on lease\n\nIf duty is paid under this Chapter in respect of a dutiable transaction referred to in section 7(1)(b)(v) or 7(1)(b)(va), no duty is chargeable under this Chapter in respect of—\n\n(a) the subsequent transfer of the land to the lessee, transferee or assignee; or\n\n(b) the enlargement of a term into fee simple under section 153 of the **Property Law Act 1958**.\n\nS. 57A inserted by No. 71/2004 s. 17.\n\n","sortOrder":141},{"sectionNumber":"57A","sectionType":"section","heading":"Land sold initially to financial institution and natural person and then leased to natural person","content":"\t57A Land sold initially to financial institution and natural person and then leased to natural person\n\n(a) an estate in fee simple in land is transferred from a third party to the financial institution and the natural person as co-owners (***the first transaction***); and\n\n(b) at the same time as the first transaction, the financial institution leases its interest in the land to the natural person for a fixed term; and\n\n(c) at the end of the fixed term referred to in paragraph (b), or some other term agreed by the parties, the financial institution transfers its interest in the land to the natural person (***the second transaction***).\n\n(2) No duty is chargeable under this Chapter in respect of the second transaction.\n\nS. 57B inserted by No. 71/2004 s. 17.\n\n","sortOrder":142},{"sectionNumber":"57B","sectionType":"section","heading":"Land sold initially to financial institution and then re‑sold to natural person","content":"\t57B Land sold initially to financial institution and then re‑sold to natural person\n\n(a) a third party and the natural person acting as agent for the financial institution enter into a contract of sale for an estate in fee simple in land; and\n\n(b) in accordance with the contract of sale referred to in paragraph (a), the estate in fee simple in land is transferred from the third party to the financial institution (***the first transaction***); and\n\n(c) at the same time as the first transaction, the financial institution and the natural person enter into a contract of sale for the estate in fee simple in land; and\n\n(d) in accordance with the contract of sale referred to in paragraph (c), the financial institution transfers the estate in fee simple to the natural person for a determined consideration (***the second transaction***).\n\n(2) No duty is chargeable under this Chapter in respect of the second transaction.\n\nS. 57C inserted by No. 71/2004 s. 17.\n\n","sortOrder":143},{"sectionNumber":"57C","sectionType":"section","heading":"Land sold initially to financial institution and then leased to natural person","content":"\t57C Land sold initially to financial institution and then leased to natural person\n\n(a) a third party and the natural person acting as agent for the financial institution enter into a contract of sale for an estate in fee simple in land; and\n\n(b) in accordance with the contract of sale referred to in paragraph (a), the estate in fee simple in land is transferred from the third party to the financial institution (***the first transaction***); and\n\n(c) at the same time as the first transaction, the financial institution leases its interest in the land to the natural person for a fixed term in accordance with a lease agreement entered into between the financial institution and the natural person that contains an option for the natural person to purchase the estate in fee simple in land (***the second transaction***); and\n\n(d) at the end of the fixed term referred to in paragraph (c), or some other term agreed by the parties, the natural person exercises his or her option to purchase the estate in fee simple in land and the financial institution transfers its estate in fee simple to the natural person for a determined consideration (***the third transaction****).*\n\n(2) No duty is chargeable under this Chapter in respect of the second or third transaction.\n\nS. 57D inserted by No. 71/2004 s. 17.\n\n","sortOrder":144},{"sectionNumber":"57D","sectionType":"section","heading":"Land sold initially to natural person, beneficial interest then transferred to financial institution","content":"\t57D Land sold initially to natural person, beneficial interest then transferred to financial institution\n\n(a) an estate in fee simple in land is transferred from a third party to the natural person (***the first transaction***); and\n\n(b) at the same time as the first transaction—\n\n(i) the natural person declares a trust in favour of the financial institution in relation to the natural person's beneficial interest in the land (***the second transaction***); and\n\n(ii) the financial institution leases its interest in the land to the natural person for a fixed term; and\n\n(c) at the end of the fixed term referred to in paragraph (b)(ii), or some other time agreement by the parties, the trust is determined with the effect that the beneficial interest in the land reverts to the natural person (***the third transaction***).\n\n(2) No duty is chargeable under this Chapter in respect of the second or third transaction.\n\nS. 57E inserted by No. 71/2004 s. 17.\n\n","sortOrder":145},{"sectionNumber":"57E","sectionType":"section","heading":"Change of financial institution","content":"\t57E Change of financial institution\n\n(a) a natural person and a financial institution enter into an arrangement described in section 57A, 57B, 57C or 57D; and\n\n(b) the financial institution transfers its estate in fee simple in land to another financial institution (***the first transaction***) on the condition that the other financial institution transfer its interest in the land to the natural person in compliance with the terms of the relevant arrangement; and\n\n(c) the other financial institution transfers its interest in the land to the natural person in compliance with the terms of the relevant arrangement (***the second transaction***).\n\n(2) No duty is chargeable under this Chapter in respect of the first or second transaction.\n\nS. 57F inserted by No. 71/2004 s. 17.\n\n","sortOrder":146},{"sectionNumber":"57F","sectionType":"section","heading":"If the natural person dies","content":"\t57F If the natural person dies\n\nIf, before an arrangement described in section 57A, 57B, 57C or 57D has been completed, the natural person dies, no duty is chargeable under this Chapter in respect of—\n\n(a) the transfer of any interest held by the natural person under the arrangement to another natural person by virtue of—\n\n(i) a testamentary gift; or\n\n(ii) the right of survivorship; or\n\n(iii) the **Administration and Probate Act 1958**; or\n\n(b) the transfer of any interest held by the financial institution under the arrangement to another natural person by virtue of—\n\n(i) a testamentary gift; or\n\n(ii) the right of survivorship; or\n\n(iii) the **Administration and Probate Act 1958**.\n\nS. 57FA inserted by No. 17/2019 s. 8.\n\n\t57FA Dealing with fixtures separately from land\n\n(1) No duty is chargeable under this Chapter on a dutiable transaction in relation to dutiable property referred to in section 10(1)(ad) if the unencumbered value of the fixtures to which the dutiable property relates does not exceed $2 000 000.\n\n(2) If the unencumbered value of the fixtures to which dutiable property referred to in section 10(1)(ad) relates  exceeds $2 000 000 but does not exceed $3 000 000, duty is chargeable on a dutiable transaction in relation to the dutiable property, subject to subsection (3), in accordance with the following formula—\n\n **A** is the unencumbered value of the fixtures to which dutiable property referred to in section 10(1)(ad) relates;\n\n **B** is the duty that, apart from this subsection, would be chargeable on the dutiable transaction under this Chapter.\n\n(3) This section does not apply if the dutiable transaction in relation to dutiable property referred to in section 10(1)(ad) is part of an arrangement that includes a dutiable transaction in relation to any estate or interest in the land on which the fixtures are located.\n\nS. 57FB inserted by No. 17/2019 s. 8.\n\n\t57FB Calculation of duty for aggregated transactions involving fixtures and land\n\n(1) This section applies to the aggregation under section 24(1) of—\n\n(a) one or more dutiable transactions in relation to dutiable property referred to in section 10(1)(ad) if the total unencumbered value of the fixtures to which the dutiable property relates does not exceed $3 000 000; and\n\n(b) one or more dutiable transactions in relation to land other than land on which the fixtures to which the dutiable property referred to in section 10(1)(ad) are located.\n\n(2) The duty chargeable on the aggregated dutiable transactions is the sum of—\n\n(a) the duty (if any) that would be chargeable on the dutiable transaction or transactions in relation to dutiable property referred to in section 10(1)(ad) in accordance with section 57FA, assuming they were the only dutiable transactions being aggregated; and\n\n(b) the duty that would be chargeable on the other dutiable transactions in the aggregation, assuming they were the only dutiable transactions being aggregated.\n\nS. 57FC inserted by No. 22/2021 s. 9.\n\n\t57FC Exemption or concession for new homes in City of Melbourne\n\n(1) Subject to subsections (3) and (4), no duty is chargeable under this Chapter on a transfer of eligible property if—\n\n(a) the transferee, or each transferee if there are more than one, is a bona fide purchaser of the eligible property for adequate consideration; and\n\n(b) an occupancy permit for the new home affixed to the eligible property was issued at least 12 months before the date of the contract for the purchase of the eligible property; and\n\n(c) the contract for the purchase of the eligible property was entered into on or after 21 May 2021 but before 1 July 2022.\n\n(2) Subject to subsections (1), (3) and (4), the duty otherwise chargeable under this Chapter on a transfer of eligible property is to be reduced by 50% if—\n\n(a) the transferee, or each transferee if there are more than one, is a bona fide purchaser of the eligible property for adequate consideration; and\n\n(b) the contract for the purchase of the eligible property was entered into on or after 1 July 2021 but before 1 July 2022.\n\n(3) Subsection (1) or (2) does not apply if the Commissioner determines that the contract for purchase of the eligible property replaces a previous contract for the purchase of the same eligible property entered into before—\n\n(a) 21 May 2021 in the case of a contract referred to in subsection (1); or\n\n(b) 1 July 2021 in the case of a contract referred to in subsection (2).\n\nS. 57FC(4) substituted by No. 18/2023 s. 12.\n\n(4) No account is to be taken of this section in determining any duty chargeable under section 28A(2) on a transfer to a foreign purchaser of a land-related interest in residential property.\n\n(5) Despite section 89D or 89E, nothing in this section applies for the purposes of determining any duty payable under Part 2 of Chapter 3.\n\n(6) If the transfer is of a partial interest in dutiable property, the dutiable value of the dutiable property for the purpose of determining if it is eligible property is the unencumbered value of the whole of the dutiable property at the time of the transfer.\n\n***City of Melbourne*** has the meaning given by section 3 of the **City of Melbourne Act 2001**;\n\n***eligible property*** means dutiable property referred to in section 10(1)(a) or (ab) that—\n\n(a) is residential property wholly within the City of Melbourne to which a new home is affixed; and\n\n(b) subject to subsection (6), has a dutiable value of no more than $1 000 000;\n\n***new home*** has the meaning given by section 3 of the **First Home Owner Grant and Home Buyer Schemes Act 2000**;\n\n***occupancy permit*** has the same meaning as in the **Building Act 1993**.\n\nCh. 2 Pt 5 Div. 4A (Heading) amended by No. 28/2011 s. 3, substituted by No. 28/2017 s. 7.\n\nCh. 2 Pt 5 Div. 4A (Heading and ss 57G–57O) inserted by No. 86/2006 s. 3.\n\n","sortOrder":147},{"sectionNumber":"Div 4A","sectionType":"division","heading":"Principal places of residence and first home buyers","content":"Division 4A—Principal places of residence and first home buyers\n\nS. 57G inserted by No. 86/2006 s. 3, amended by No. 39/2009 s. 14 (ILA s. 39B(1)).\n\n","sortOrder":148},{"sectionNumber":"57G","sectionType":"section","heading":"Definitions","content":"\t57G Definitions\n\nS. 57G(1) def. of  \n*eligible first home buyer* inserted by No. 28/2011 s. 4, repealed by No. 41/2013 s. 15.\n\nS. 57G(1) def. of *guardian* amended by No. 13/2019 s. 221(Sch. 1 item 13).\n\n***guardian*** of a person under a legal disability includes—\n\n(a) a trustee who holds property on trust for the person under an instrument of trust or direction of a court or tribunal;\n\n(b) an administrator for the person within the meaning of the **Guardianship and Administration Act 2019**;\n\nS. 57G(1) def. of *PPR concessional rate* inserted by No. 28/2017 s. 8.\n\n***PPR concessional rate*** means a rate of duty specified in section 57J for a PPR transfer where the dutiable value of the dutiable property is more than $130 000 but not more than $550 000;\n\n***residence requirement*** means the requirement referred to in section 57K as varied (if at all) by the Commissioner under section 57L.\n\nS. 57G(2) inserted by No. 39/2009 s. 14.\n\n(2) For the purposes of this Division, a reference to—\n\n(a) a bona fide purchaser of the land for adequate consideration includes a reference to—\n\n(i) a person to whom a lease referred to in section 7(1)(b)(v) has been granted;\n\n(ii) a person to whom a lease referred to in section 7(1)(b)(va) has been transferred or assigned;\n\n(b) a contract for the purchase of the land includes a reference to—\n\n(c) a transfer of dutiable property, being an estate in fee simple includes a reference to—\n\n(d) a transferee includes a person to whom a lease referred to in section 7(1)(b)(v) or 7(1)(b)(va) is granted, transferred or assigned.\n\nS. 57H inserted by No. 86/2006 s. 3, substituted by No. 47/2020 s. 7.\n\n","sortOrder":149},{"sectionNumber":"57H","sectionType":"section","heading":"Land to which this Division applies","content":"\t57H Land to which this Division applies\n\n(1) This Division applies to the following—\n\n(a) land to which is affixed a building that, in the Commissioner's opinion—\n\n(i) is designed and constructed primarily for residential purposes; and\n\n(ii) may lawfully be used as a place of residence;\n\n(b) land that, in the Commissioner's opinion, is vacant land on which a person intends to construct a building referred to in subsection (a).\n\n(2) The Commissioner may treat land as vacant land for the purposes of this Division if the Commissioner is satisfied that the land is substantially vacant apart from there being on the land—\n\n(a) the remnant of any building, or any other object or structure, that the Commissioner is satisfied has been preserved because of its heritage significance; or\n\n(b) any building or structure that the Commissioner is satisfied is intended to be demolished.\n\nS. 57I inserted by No. 86/2006 s. 3.\n\n","sortOrder":150},{"sectionNumber":"57I","sectionType":"section","heading":"What is a PPR transfer?","content":"\t57I What is a PPR transfer?\n\nS. 57I(1) amended by No. 47/2020 s. 8.\n\n(1) A ***PPR transfer*** is a transfer of dutiable property, being an estate in fee simple in land referred to in section 57H, if—\n\n(a) the transferee, or each transferee if there are more than one, is—\n\nS. 57I(1)(a)(i) substituted by No. 50/2024 s. 17(1)(a).\n\n(i) any of the following—\n\n(A) a natural person who is at least 18 years of age;\n\n(B) if such a person is under a legal disability, a guardian of the person;\n\n(C) if such a person is the principal beneficiary of a special disability trust, a trustee of that trust; and\n\n(ii) a bona fide purchaser of the land for adequate consideration; and\n\nS. 57I(1)(b) substituted by No. 50/2024 s. 17(1)(b).\n\n(b) any of the following intends to occupy the land as their principal place of residence—\n\n(i) if the transferee is a guardian, the person under the legal disability;\n\n(ii) if the transferee is a trustee of a special disability trust, the principal beneficiary of that trust;\n\n(iii) in any other case, the transferee or at least one of the transferees; and\n\nS. 57I(1)(c) amended by No. 28/2017 s. 9(a).\n\n(c) the contract for the purchase of the land was entered into on or after 1 January 2007.\n\nS. 57I(1)(d) amended by Nos 31/2008 s. 9(1), 28/2011 s. 5, 41/2013 s. 16, repealed by No. 28/2017 s. 9(b).\n\nS. 57I(2) amended by No. 50/2024 s. 17(2).\n\n(2) The Commissioner may determine that a transfer is a PPR transfer despite a transferee, person under a legal disability or principal beneficiary being under 18 years of age if the Commissioner is satisfied that the transfer does not form part of a scheme or arrangement designed to take advantage of the benefit of this Division.\n\nS. 57J (Heading) amended by Nos 28/2011 s. 6(1), 28/2017 s. 10(1).\n\nS. 57J inserted by No. 86/2006 s. 3, amended by Nos 28/2011 s. 6(2), 28/2017 s. 10(2).\n\n","sortOrder":151},{"sectionNumber":"57J","sectionType":"section","heading":"Rates of duty for certain PPR transfers","content":"\t57J Rates of duty for certain PPR transfers\n\nThe rate of duty chargeable on a PPR transfer where the dutiable value of the dutiable property is not more than $550 000 is chargeable to the nearest whole dollar of the amount determined as follows, or if that amount is an amount of dollars and fifty cents, to the nearest whole dollar below that amount—\n\nS. 57J (Table) substituted by Nos 31/2008 s. 9(2), 28/2017 s. 10(3).\n\n| **Item** | **Dutiable value of the dutiable property** | **Rate of duty** |\n| 1 | Not more than $25 000 | 1⋅4% of the dutiable value |\n| 2 | More than $25 000 but not more than $130 000 | $350 plus 2⋅4% of that part of the dutiable value that exceeds $25 000 |\n| 3 | More than $130 000 but not more than $440 000 | $2870 plus 5% of that part of the dutiable value that exceeds $130 000 |\n| 4 | More than $440 000 but not more than $550 000 | $18 370 plus 6% of that part of the dutiable value that exceeds $440 000 |\n\nNote to s. 57J inserted by No. 28/2011 s. 6(3), amended by Nos 41/2013 s. 17, 69/2013 s. 9, substituted by No. 28/2017 s. 10(4).\n\nA PPR transfer where the dutiable value of the dutiable property is more than $550 000 is chargeable with duty at the rate set out in section 28(1), subject to any exemption or concession.\n\nS. 57JA (Heading) amended by No. 50/2024 s. 18(1).\n\nS. 57JA inserted by No. 28/2011 s. 7, substituted by Nos 41/2013 s. 18, 28/2017 s. 11.\n\n\t57JA First home buyer exemption or concession on PPR transfers\n\n(1) A transferee is entitled to an exemption from duty under this Chapter in respect of a PPR transfer if—\n\nS. 57JA(1)(a) substituted by No. 50/2024 s. 18(2).\n\n(a) the requirements specified in section 57JB are satisfied at the time of the transfer; and\n\n(b) the dutiable value of the dutiable property the subject of the PPR transfer is not more than $600 000.\n\n(2) A transferee is entitled to a concession from duty under this Chapter in respect of a PPR transfer if—\n\nS. 57JA(2)(a) substituted by No. 50/2024 s. 18(3).\n\n(a) the requirements specified in section 57JB are satisfied at the time of the transfer; and\n\n(b) the dutiable value of the dutiable property the subject of the PPR transfer is more than $600 000 but not more than $750 000.\n\nS. 57JA(3) amended by No. 67/2017 s. 6.\n\n(3) For the purposes of subsection (2), the concessional amount of duty payable is an amount calculated in accordance with the formula—\n\n![]()![]()\n\n **B** is the amount of duty paid or payable  \n(but for this section) on the PPR transfer.\n\nS. 57JB inserted by No. 28/2017 s. 11, amended by No. 47/2020 s. 9(2) (ILA s. 39B(1)).\n\n\t57JB Requirements—first home buyers\n\nS. 57JB(1) amended by Nos 47/2020 s. 9(1)(a), 50/2024 s. 19(1)(a).\n\n(1) For the purposes of section 57JA, the first requirement is that a first home owner grant—\n\nS. 57JB(1)(a) amended by Nos 22/2021 s. 19(1), 50/2024 s. 19(1)(b).\n\n(a) is paid or payable under section 7 of the **First Home Owner Grant and Home Buyer Schemes Act 2000** in respect of the PPR transfer; or\n\nS. 57JB(1)(b) amended by Nos 22/2021 s. 19(1), 50/2024 s. 19(1)(b).\n\n(b) would be payable under section 7 of the **First Home Owner Grant and Home Buyer Schemes Act 2000** in respect of the PPR transfer except that any of the following apply in relation to the PPR transfer—\n\n(i) the home the subject of the PPR transfer is not a new home within the meaning of that Act;\n\nS. 57JB  \n(1)(b)(ii) amended by No. 47/2020 s. 9(1)(b).\n\n(ii) the PPR transfer does not meet the requirement in section 13(1A) of that Act; or\n\nS. 57JB(1)(c) inserted by No. 47/2020 s. 9(1)(c), amended by No. 22/2021 s. 19(1).\n\n(c) in the case of land referred to in section 57H(1)(b), would be payable under section 7 of the **First Home Owner Grant and Home Buyer Schemes Act 2000** if—\n\n(i) at the date of the transfer, there was a new home on the land; and\n\n(ii) section 12 of that Act did not apply.\n\nS. 57JB(2) inserted by No. 47/2020 s. 9(2), substituted by No. 50/2024 s. 19(2).\n\n(2) For the purposes of section 57JA, the second requirement is that—\n\n(a) if the transferee is acting in their personal capacity, the transferee or their partner (if any) has not received an exemption or concession under that section in relation to an earlier transfer; or\n\n(b) if the transferee is a guardian on behalf of a person under a legal disability—\n\n(i) the person under a legal disability or their partner (if any) has not received an exemption or concession under that section in relation to an earlier transfer; and\n\n(ii) no guardian has previously received, on behalf of the person under a legal disability, an exemption or concession under that section in relation to an earlier transfer; or\n\n(c) if the transferee is a trustee of a special disability trust on behalf of the principal beneficiary of that trust—\n\n(i) the principal beneficiary or their partner (if any) has not received an exemption or concession under that section in relation to an earlier transfer; and\n\n(ii) no trustee has previously received, on behalf of the principal beneficiary, an exemption or concession under that section in relation to an earlier transfer.\n\nS. 57JB(3) inserted by No. 24/2025 s. 8.\n\n(3) The requirement specified in subsection (2)(a) does not apply to a transferee or a transferee's partner if that person received an exemption or concession under section 57JA in relation to an earlier transfer and that person—\n\n(a) does not reside in the home the subject of the earlier exemption or concession because another person subjected the person or the person's family member to family violence; and\n\n(b) has not received and will not receive any financial benefit from the home to which the earlier exemption or concession relates.\n\n***family violence*** has the same meaning as in section 4 of the **Family Violence Protection Act 2008**.\n\nS. 57K inserted by No. 86/2006 s. 3.\n\n","sortOrder":152},{"sectionNumber":"57K","sectionType":"section","heading":"Residence requirement","content":"\t57K Residence requirement\n\nS. 57K(1) amended by No. 28/2011 s. 8, substituted by Nos 28/2017 s. 12, 47/2020 s. 10(1).\n\n(1) It is a requirement for the purposes of the matters specified in subsection (1A) that the transferee occupies the land as the transferee's principal place of residence—\n\n(a) in the case of land referred to in section 57H(1)(a), for a continuous period of at least 12 months commencing within the 12 month period immediately after the transferee became entitled to possession of the land; or\n\n(b) in the case of land referred to in section 57H(1)(b), for a continuous period of at least 12 months commencing within the 12 month period immediately after the earlier of—\n\n(i) the date on which the transferee was lawfully first able to use the building as a place of residence; or\n\n(ii) the date that is 24 months after the transferee became entitled to possession of the land.\n\nS. 57K(1A) inserted by No. 47/2020 s. 10(1).\n\n(1A) For the purposes of subsection (1), the following are specified—\n\n(a) a PPR concessional rate;\n\n(b) an exemption or concession from duty under section 57JA;\n\nS. 57K(2) amended by No. 47/2020 s. 10(2).\n\n(2) If there are 2 or more transferees, the residence requirement is complied with if the land is occupied for the period referred to in subsection (1) as the principal residence of at least one of them (whether separately or together with any of the others and whether or not the same transferee occupies the land for the whole period).\n\nS. 57K(2A) inserted by No. 47/2020 s. 10(3).\n\n(2A) In determining whether land is occupied as the principal place of residence of a transferee, account must be taken of every place of residence of the transferee, whether in Victoria or elsewhere.\n\nS. 57K(3) substituted by No. 50/2024 s. 20.\n\n(3) In this section, a reference to a transferee is—\n\n(a) in the case of a guardian who holds property on behalf of a person under a legal disability, a reference to the person under the legal disability; or\n\n(b) in the case of a trustee of a special disability trust who holds property on behalf of the principal beneficiary of that trust, a reference to the principal beneficiary.\n\nS. 57K(4) inserted by No. 22/2018 s. 13.\n\n(4) A transferee is exempted from compliance with the residence requirement in relation to an exemption or concession from duty under section 57JA if, at the time of the PPR transfer—\n\n(a) if there is only one transferee, the transferee is a member of the Defence Force and is enrolled on the register of electors; or\n\n(b) if there are 2 or more transferees—\n\n(i) at least one of the transferees is a member of the Defence Force; and\n\n(ii) each of the transferees is enrolled on the register of electors.\n\nS. 57K(5) inserted by No. 22/2018 s. 13.\n\n***member of the Defence Force*** means a member of the Permanent Forces within the meaning of the Defence Act 1903 of the Commonwealth;\n\n***register of electors*** has the same meaning as in the **Electoral Act 2002**.\n\nS. 57L inserted by No. 86/2006 s. 3.\n\n","sortOrder":153},{"sectionNumber":"57L","sectionType":"section","heading":"Variation of residence requirement","content":"\t57L Variation of residence requirement\n\n(1) If satisfied that there is a good reason for doing so, the Commissioner may—\n\nS. 57L(2) amended by No. 28/2011 s. 9, substituted by No. 28/2017 s. 13.\n\n(2) If the Commissioner determines that a temporary absence from residence does not break the continuity of residence, the transferee is not entitled to a PPR concessional rate, exemption or concession or an adjustment specified in subsection (2A) in respect of any other PPR transfer during the period of temporary absence unless the transferee pays the difference between—\n\n(a) the duty paid on the original PPR transfer; and\n\n(b) the duty on the original PPR transfer calculated—\n\n(i) at the rate set out in section 28(1); and\n\n(ii) without any adjustment of consideration under section 21(3) or (4) or 32V(3) or (4).\n\nS. 57L(2A) inserted by No. 28/2017 s. 13.\n\n(2A) For the purposes of subsection (2), the following are specified—\n\n(a) an exemption or concession from duty under section 57JA;\n\n(b) an adjustment of consideration under section 21(3) or (4) or 32V(3) or (4).\n\nS. 57L(3) amended by No. 50/2024 s. 21.\n\n(3) If a transferee, person under a legal disability or principal beneficiary who is occupying land the subject of a PPR transfer as their principal place of residence, or is temporarily absent from the land in accordance with a determination under subsection (1), dies, the residence requirement is taken to have been complied with for the PPR transfer.\n\nS. 57M inserted by No. 86/2006 s. 3.\n\n","sortOrder":154},{"sectionNumber":"57M","sectionType":"section","heading":"Liability for duty if residence requirement not complied with","content":"\t57M Liability for duty if residence requirement not complied with\n\n(1) If the residence requirement for a PPR transfer is not complied with—\n\nS. 57M(1)(a) amended by No. 28/2011 s. 10, substituted by No. 28/2017 s. 14(1).\n\n(a) the PPR transfer is chargeable with duty—\n\n(i) at the rate set out in section 28(1) without any exemption or concession from duty under section 57JA, subject to any other exemption or concession; and\n\n(ii) without any adjustment of consideration under section 21(3) or (4) or 32V(3) or (4); and\n\n(b) the Commissioner may reassess duty on the PPR transfer accordingly (giving an allowance for any duty already paid on the PPR transfer).\n\n(2) A liability for duty imposed because of subsection (1) on a PPR transfer arises when the residency requirement for that transfer is not complied with.\n\nNote to s. 57M(2) amended by No. 69/2011 s. 9.\n\nSection 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.\n\nS. 57M(3) amended by No. 26/2007 s. 110(a).\n\n(3) A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made.\n\nS. 57M(3) amended by No. 26/2007 s. 110(a).\n\nSection 9(3)(c) of the **Taxation Administration Act 1997** allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.\n\nS. 57M(4) substituted by Nos 28/2017 s. 14(2), 50/2024 s. 22.\n\n(4) If the residence requirement for a PPR transfer is not complied with—\n\n(a) a transferee who received, in respect of the PPR transfer, a relevant benefit in their personal capacity is not entitled to a relevant benefit in respect of any other PPR transfer until the duty imposed because of subsection (1) has been paid;\n\n(b) if a transferee received, in respect of the PPR transfer, a relevant benefit as a guardian on behalf of a person under a legal disability, the guardian in that capacity, any subsequent guardian in that capacity or the person themselves (whether or not they continue to be under a legal disability) is not entitled to a relevant benefit in respect of any other PPR transfer until the duty imposed because of subsection (1) has been paid;\n\n(c) if a transferee received, in respect of the PPR transfer, a relevant benefit as a trustee of a special disability trust on behalf of the person who is the principal beneficiary of that trust, the trustee in that capacity, any subsequent trustee in that capacity or the person themselves (whether or not they continue to be a principal beneficiary of a special disability trust) is not entitled to a relevant benefit in respect of any other PPR transfer until the duty imposed because of subsection (1) has been paid.\n\nS. 57M(5) inserted by No. 50/2024 s. 22.\n\n(5) For the purposes of subsection (4), a ***relevant benefit*** is—\n\n(a) a PPR concessional rate; or\n\n(b) an exemption or concession from duty under section 57JA; or\n\nS. 57N inserted by No. 86/2006 s. 3.\n\n","sortOrder":155},{"sectionNumber":"57N","sectionType":"section","heading":"Transferee to notify Commissioner of change in circumstances","content":"\t57N Transferee to notify Commissioner of change in circumstances\n\nS. 57N(1) amended by No. 28/2011 s. 11, substituted by No. 28/2017 s. 15.\n\n(1) A transferee who has received any of the following must lodge a written notice with the Commissioner within 30 days after becoming aware of any circumstances that may result in the residence requirement not being complied with—\n\n(a) a PPR concessional rate;\n\n(b) an exemption or concession from duty under section 57JA;\n\n(2) A failure of a transferee to comply with subsection (1) does not affect the Commissioner's power to reassess duty under section 57M or to exercise a discretion under section 57L.\n\nS. 57O inserted by No. 86/2006 s. 3,  \nrepealed by No. 31/2008 s. 9(3).\n\nCh. 2 Pt 5 Div. 4B (Heading and ss 57O–57V) inserted by No. 18/2023 s. 9\n\n","sortOrder":156},{"sectionNumber":"Div 4B","sectionType":"division","heading":"Principal places of residence and persons with a disability","content":"Division 4B—Principal places of residence and persons with a disability\n\nNew s. 57O inserted by No. 18/2023 s. 9.\n\n","sortOrder":157},{"sectionNumber":"57O","sectionType":"section","heading":"Definitions","content":"\t57O Definitions\n\n***immediate family member***, of a transferee, means an individual—\n\n(a) who is a natural parent, adoptive parent or step-parent of the transferee; or\n\n(b) who is, or was when the transferee was under 18 years of age, a legal guardian of the transferee; or\n\n(c) who is a grandparent of the transferee; or\n\n(d) who is a sibling of the transferee;\n\n***residence requirement*** means the requirement referred to in section 57S as varied (if at all) by the Commissioner under section 57T.\n\nS. 57P inserted by No. 18/2023 s. 9.\n\n","sortOrder":158},{"sectionNumber":"57P","sectionType":"section","heading":"Exemption for transfer of principal place of residence to person with a disability","content":"\t57P Exemption for transfer of principal place of residence to person with a disability\n\n(1) A transferee is entitled to an exemption from duty under this Chapter in respect of a transfer of dutiable property if—\n\n(a) the transferee meets the qualifying requirement in section 57Q; and\n\n(b) the transferor is an immediate family member of the transferee; and\n\n(c) no consideration is provided for the transfer; and\n\n(d) the dutiable value of the dutiable property the subject of the transfer is not more than $1 500 000; and\n\n(e) the dutiable property is an estate or interest in land and meets the building requirement in section 57R; and\n\n(f) the transferee intends to occupy the land as their principal place of residence.\n\nThe residence requirement must also be met after the transfer of dutiable property or the transfer can be reassessed for duty—see sections 57S to 57V.\n\n(2) If there is more than one transferee in respect of the transfer, each of the transferees must be individually entitled to receive the exemption under subsection (1) for all of the transferees to receive the exemption.\n\n(3) A transferee is not entitled to an exemption under subsection (1) if, after the transfer, a person who does not meet the qualifying requirement in section 57Q is also an owner of the land.\n\nS. 57Q inserted by No. 18/2023 s. 9.\n\n","sortOrder":159},{"sectionNumber":"57Q","sectionType":"section","heading":"Qualifying requirement","content":"\t57Q Qualifying requirement\n\nIt is a requirement for the purposes of an exemption from duty under section 57P that, prior to the transfer, the transferee has received a determination in writing that the transferee meets the impairment or disability conditions for a special disability trust—\n\n(a) from Services Australia under section 1209M of the Social Security Act 1991 of the Commonwealth; or\n\n(b) from the Department of Veterans' Affairs under section 52ZZZWA of the Veterans' Entitlements Act 1986 of the Commonwealth.\n\nS. 57R inserted by No. 18/2023 s. 9.\n\n","sortOrder":160},{"sectionNumber":"57R","sectionType":"section","heading":"Building requirement","content":"\t57R Building requirement\n\nIt is a requirement for the purposes of an exemption from duty under section 57P that, at the time of the transfer, the dutiable property has a building affixed to the land that in the Commissioner's opinion—\n\n(a) is designed and constructed primarily for residential purposes; and\n\n(b) may lawfully be used as a place of residence.\n\nS. 57S inserted by No. 18/2023 s. 9.\n\n","sortOrder":161},{"sectionNumber":"57S","sectionType":"section","heading":"Residence requirement","content":"\t57S Residence requirement\n\n(1) It is a requirement for the purposes of an exemption from duty under section 57P that the transferee, or each of the transferees if there is more than one transferee, occupies the land as their principal place of residence for a continuous period—\n\n(a) of at least 12 months; and\n\n(b) commencing within the 12 month period immediately after the transferee or transferees became entitled to possession of the land.\n\n(2) In determining whether land is occupied as the principal place of residence of a transferee, account must be taken of every place of residence of the transferee, whether in Victoria or elsewhere.\n\nS. 57T inserted by No. 18/2023 s. 9.\n\n","sortOrder":162},{"sectionNumber":"57T","sectionType":"section","heading":"Variation of residence requirement","content":"\t57T Variation of residence requirement\n\nS. 57U inserted by No. 18/2023 s. 9.\n\n","sortOrder":163},{"sectionNumber":"57U","sectionType":"section","heading":"Liability for duty if residence requirement not complied with","content":"\t57U Liability for duty if residence requirement not complied with\n\n(1) If the residence requirement for a transfer referred to in section 57P is not complied with—\n\n(a) the transfer is chargeable with duty at the rate set out in section 28(1) without any exemption from duty under section 57P, subject to any other exemption or concession; and\n\n(2) A liability for duty imposed because of subsection (1) on a transfer arises when the residence requirement for that transfer is not complied with.\n\nSection 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.\n\n(3) A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made.\n\nSection 9(3)(c) of the **Taxation Administration Act 1997** allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.\n\n(4) If the residence requirement for a transfer referred to in section 57P is not complied with, subsection (5) applies until the transferee has paid duty for which the transferee is liable because of this section.\n\n(5) For the purposes of subsection (4)—\n\n(a) section 38A does not apply to any other transfer of dutiable property to a trustee of a special disability trust, or a declaration of a special disability trust, of which the transferee is the principal beneficiary; and\n\n(b) section 57P does not apply to any other transfer of dutiable property to the transferee.\n\nS. 57U(6) repealed by No. 50/2024 s. 23.\n\nS. 57V inserted by No. 18/2023 s. 9.\n\n","sortOrder":164},{"sectionNumber":"57V","sectionType":"section","heading":"Transferee to notify Commissioner of change in circumstances","content":"\t57V Transferee to notify Commissioner of change in circumstances\n\n(1) A transferee who has received an exemption from duty under section 57P must lodge a written notice with the Commissioner within 30 days after becoming aware of any circumstances that may result in the residence requirement not being complied with.\n\n(2) A failure of a transferee to comply with subsection (1) does not affect the Commissioner's power to exercise a discretion under section 57T or reassess duty under section 57U.\n\nCh. 2 Pt 5 Div. 5 (Heading) substituted by No. 28/2017 s. 16, amended by Nos 18/2023 s. 13, 50/2024 s. 24.\n\nDivision 5—Pensioner and concession card and eligible first home owner exemptions and concessions\n\nS. 58AA (Heading) substituted by No. 50/2024 s. 25(1).\n\nS. 58AA inserted by No. 18/2023 s. 14.\n\n\t58AA Definitions\n\nS. 58AA(1) def. of *guardian* inserted by No. 50/2024 s. 25(2).\n\n***guardian***, of a person under a legal disability, includes—\n\n(a) a trustee who holds property on trust for the person under an instrument of trust or direction of a court or tribunal; and\n\n(b) an administrator for the person within the meaning of the **Guardianship and Administration Act 2019**;\n\n***residence requirement*** means the requirement referred to in section 60AAB as varied (if at all) by the Commissioner under section 60AAC.\n\n(2) For the purposes of this Division, a reference to—\n\n(a) a bona fide purchaser of an estate in fee simple in land includes a reference to—\n\n(i) a person to whom a lease referred to in section 7(1)(b)(v) has been granted; and\n\n(ii) a person to whom a lease referred to in section 7(1)(b)(va) has been transferred or assigned; and\n\n(b) a transfer of dutiable property, being an estate in fee simple in land, includes a reference to—\n\n(i) the granting of a lease referred to in section 7(1)(b)(v); and\n\nS. 58 (Heading) inserted by No. 38/2023 s. 8(1).\n\n","sortOrder":165},{"sectionNumber":"58","sectionType":"section","heading":"Who is an eligible cardholder?","content":"\t58 Who is an eligible cardholder?\n\nS. 58(1) amended by Nos 82/2004 s. 13(Sch. item 2), 28/2011 s. 12, 26/2015 s. 4, 18/2023 s. 15(2), substituted by No. 38/2023 s. 8(2).\n\n(1) A person is an ***eligible cardholder*** for the purposes of this Division if the Commissioner is satisfied that the person is—\n\n(a) an eligible beneficiary within the meaning of the **State Concessions Act 2004**; or\n\n(b) the holder of a Seniors Health Card within the meaning of the Social Security Act 1991 of the Commonwealth.\n\nS. 58(2) amended by No. 18/2023 s. 15(3).\n\n(2) Two or more persons together are eligible cardholders in respect of a transfer if each of them satisfies the criteria set out in subsection (1).\n\nS. 58(3) inserted by No. 39/2009 s. 15, amended by No. 29/2011 s. 3(Sch. 1 item 31), repealed by No. 18/2023 s. 15(4).\n\nS. 58(4) inserted by No. 39/2009 s. 15, repealed by No. 18/2023 s. 15(4).\n\nS. 59 amended by Nos 29/2002 s. 4(1)(a), 46/2004 s. 8(1)(2), 38/2006 s. 3(a), 86/2006 s. 4(a), 31/2008 s. 10(1)(a)–(c), 28/2011 s. 13, 69/2011 s. 26, substituted by No. 18/2023 s. 16.\n\n","sortOrder":166},{"sectionNumber":"59","sectionType":"section","heading":"Land to which an eligible cardholder exemption or concession may apply","content":"\t59 Land to which an eligible cardholder exemption or concession may apply\n\n(1) The exemption or concession under section 60 applies to a transfer of dutiable property, being an estate in fee simple in land—\n\n(a) to which is affixed a building that, in the Commissioner's opinion—\n\n(i) is designed and constructed primarily for residential purposes; and\n\n(ii) may lawfully be used as a place of residence; or\n\nS. 59(1)(b) amended by No. 50/2024 s. 26.\n\n(b) that, in the Commissioner's opinion, is vacant land on which a person intends to construct a building referred to in paragraph (a).\n\n(2) The Commissioner may treat land as vacant land for the purposes of the exemption or concession under section 60 if the Commissioner is satisfied that the land is substantially vacant apart from there being on the land—\n\n(a) the remnant of any building, or any other object or structure, that the Commissioner is satisfied has been preserved because of its heritage significance; or\n\n(b) any building or structure that the Commissioner is satisfied is intended to be demolished.\n\nS. 60 amended by Nos 29/2002 s. 4(1)(b)(2), 46/2004 s. 8(3)(4), 38/2006 s. 3(b), 86/2006 s. 4(b), 31/2008 s. 10(d)–(f), 28/2011 s. 14, substituted by No. 18/2023 s. 16.\n\n","sortOrder":167},{"sectionNumber":"60","sectionType":"section","heading":"Eligible cardholder exemption or concession","content":"\t60 Eligible cardholder exemption or concession\n\n(1) A transfer of dutiable property is exempt from duty if—\n\nS. 60(1)(a) substituted by No. 50/2024 s. 27(1).\n\n(a) the requirements specified in section 60AA are satisfied at the time of the transfer; and\n\n(b) the dutiable value of the dutiable property the subject of the transfer is not more than $600 000; and\n\n(c) the contract for the purchase of dutiable property is entered into on or after 1 July 2023.\n\n(2) A concession from duty under this Chapter applies to a transfer of dutiable property if—\n\nS. 60(2)(a) substituted by No. 50/2024 s. 27(2).\n\n(a) the requirements specified in section 60AA are satisfied at the time of the transfer; and\n\n(b) the dutiable value of the dutiable property the subject of the transfer is more than $600 000 but not more than $750 000; and\n\n(c) the contract for the purchase of dutiable property is entered into on or after 1 July 2023.\n\n(3) For the purposes of subsection (2), the concessional amount of duty payable is an amount calculated in accordance with the following formula—\n\n **B** is the amount of duty paid or payable (but for this section) on the transfer.\n\n(4) If the transfer is of a partial interest in dutiable property, the dutiable value of the dutiable property for the purpose of determining an entitlement to an exemption or concession under this section is the unencumbered value of the whole of the dutiable property at the time of the transfer.\n\nS. 60AA inserted by No. 18/2023 s. 16, amended by No. 38/2023 s. 9, substituted by No. 50/2024 s. 28.\n\n\t60AA Eligible cardholder exemption or concession requirements\n\n(1) For the purposes of section 60, the requirements are—\n\n(a) if the dutiable property is acquired by one or more transferees acting only in their personal capacity, the requirements in subsection (2); or\n\n(b) if the dutiable property is acquired by a guardian on behalf of a person under a legal disability, the requirements in subsection (3); or\n\n(c) if the dutiable property is acquired by a trustee of a special disability trust on behalf of the principal beneficiary of that trust, the requirements in subsection (4).\n\n(2) For the purposes of subsection (1)(a), the requirements are—\n\n(a) that at least one transferee is an eligible cardholder who acquires an interest in the dutiable property of 25% or more; and\n\n(b) that each transferee is a bona fide purchaser of an estate in fee simple in land for adequate consideration; and\n\n(c) that each transferee has not received an exemption, refund or rebate of duty in respect of a transfer—\n\n(d) that each transferee and their partner (if any) has not previously received an exemption or concession from duty on a dutiable transaction under section 60 on or after 1 July 2023; and\n\n(e) that an eligible cardholder referred to in paragraph (a) intends to occupy the land in accordance with the residence requirement.\n\n(3) For the purposes of subsection (1)(b), the requirements are—\n\n(a) that the person under a legal disability is an eligible cardholder; and\n\n(b) that the guardian is a bona fide purchaser of an estate in fee simple for adequate consideration; and\n\n(c) that the person under a legal disability has not received an exemption, refund or rebate of duty in respect of a transfer—\n\n(d) that the person under a legal disability and their partner (if any) has not previously received an exemption or concession from duty on a dutiable transaction under section 60 on or after 1 July 2023; and\n\n(e) that no guardian has previously received, on behalf of the person under a legal disability, an exemption or concession from duty on a dutiable transaction under section 60 on or after the commencement of section 28  of the **State Taxation Further Amendment Act 2024**; and\n\n(f) that the person under a legal disability intends to occupy the land in accordance with the residence requirement.\n\n(4) For the purposes of subsection (1)(c), the requirements are—\n\n(a) that the principal beneficiary is an eligible cardholder; and\n\n(b) that the trustee is a bona fide purchaser of an estate in fee simple for adequate consideration; and\n\n(c) that the principal beneficiary has not received an exemption, refund or rebate of duty in respect of a transfer—\n\n(d) that the principal beneficiary and their partner (if any) has not previously received an exemption or concession from duty on a dutiable transaction under section 60 on or after 1 July 2023; and\n\n(e) that no trustee has previously received, on behalf of the principal beneficiary, an exemption or concession from duty on a dutiable transaction under section 60 on or after the commencement of section 28  of the **State Taxation Further Amendment Act 2024**; and\n\n(f) that the principal beneficiary intends to occupy the land in accordance with the residence requirement.\n\nS. 60AAB inserted by No. 18/2023 s. 16.\n\n\t60AAB Residence requirement\n\n(1) It is a requirement for the purposes of an exemption or concession under section 60 that an eligible cardholder occupies the land as the eligible cardholder's principal place of residence—\n\n(a) in the case of land referred to in section 59(1)(a), for a continuous period of at least 12 months commencing within the 12 month period immediately after the eligible cardholder became entitled to possession of the land; or\n\n(b) in the case of land referred to in section 59(1)(b), for a continuous period of at least 12 months commencing within the 12 month period immediately after the earlier of—\n\n(i) the date on which the eligible cardholder was lawfully first able to use the building as a place of residence; or\n\n(ii) the date that is 24 months after the eligible cardholder became entitled to possession of the land.\n\n(2) Subject to subsection (3), if there are 2 or more eligible cardholders, the residence requirement is complied with if the land is occupied for the period referred to in subsection (1) as the principal residence of at least one of them (whether separately or together with any of the others and whether or not the same eligible cardholder occupies the land for the whole period).\n\n(3) The land must be occupied, at any given time during the period referred to in subsection (1), by an eligible cardholder who has an interest in the dutiable property of 25% or more of the dutiable value.\n\n(4) In determining whether land is occupied as the principal place of residence of an eligible cardholder, account must be taken of every place of residence of the eligible cardholder, whether in Victoria or elsewhere.\n\nS. 60AAC inserted by No. 18/2023 s. 16.\n\n\t60AAC Variation of residence requirement\n\n(1) If satisfied that there is a good reason for doing so, the Commissioner may—\n\nS. 60AAC(2) amended by No. 50/2024 s. 29.\n\n(2) If the Commissioner determines that a temporary absence from residence does not break the continuity of residence, a transferee referred to in section 60AA(1)(a), (b) or (c) is not entitled to an exemption or concession under section 60 in respect of another transfer during the period of temporary absence unless the transferee pays duty on the original transfer at the rate set out in section 28(1), subject to any other exemption or concession.\n\n(3) If an eligible cardholder who is occupying land the subject of a transfer as the eligible cardholder's principal place of residence, or who is temporarily absent from the land in accordance with a determination under subsection (1), dies, the residence requirement is taken to have been complied with for the transfer.\n\nS. 60AAD inserted by No. 18/2023 s. 16.\n\n\t60AAD Liability for duty if residence requirement not complied with\n\n(1) If the residence requirement for an exemption or concession under section 60 is not complied with—\n\n(a) the transfer is chargeable with duty at the rate set out in section 28(1), subject to any other exemption or concession; and\n\n(2) A liability for duty imposed because of subsection (1) on the transfer arises when the residence requirement for that transfer is not complied with.\n\nSection 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.\n\n(3) A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made.\n\nSection 9(3)(c) of the **Taxation Administration Act 1997** allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.\n\nS. 60AAD(4) substituted by No. 50/2024 s. 30.\n\n(4) If the residence requirement for an exemption or concession under section 60 is not complied with—\n\n(a) a transferee who received the exemption or concession in their personal capacity is not entitled to an exemption or concession under that section in respect of any other transfer until the duty imposed because of subsection (1) has been paid;\n\n(b) if a transferee received the exemption or concession as a guardian on behalf of a person under a legal disability, the guardian in that capacity, any subsequent guardian in that capacity or the person themselves (whether or not they continue to be under a legal disability) is not entitled to an exemption or concession under that section in respect of any other transfer until the duty imposed because of subsection (1) has been paid;\n\n(c) if a transferee received the exemption or concession as a trustee of a special disability trust on behalf of the person who is the principal beneficiary of that trust, the trustee in that capacity, any subsequent trustee in that capacity or the person themselves (whether or not they continue to be a principal beneficiary of a special disability trust) is not entitled to an exemption or concession under that section in respect of any other transfer until the duty imposed because of subsection (1) has been paid.\n\nS. 60AAE inserted by No. 18/2023 s. 16.\n\n\t60AAE Persons must notify Commissioner of change in circumstance\n\n(1) A person who has received an exemption or concession from duty under section 60 must lodge a written notice with the Commissioner within 30 days after becoming aware of any circumstances that may result in the residence requirement not being complied with.\n\n(2) A failure of the person to comply with subsection (1) does not affect the Commissioner's power to exercise a discretion under section 60AAC or to reassess duty under section 60AAD.\n\nS. 60A (Heading) amended by Nos 18/2023 s. 17(1), 38/2023 s. 10(1).\n\nS. 60A inserted by No. 46/2004 s. 9, amended by Nos 31/2008 s. 10(2), 37/2009 s. 8, 36/2010 s. 10, substituted by No. 28/2011 s. 15.\n\n","sortOrder":168},{"sectionNumber":"60A","sectionType":"section","heading":"Election to receive exemption/concession","content":"\t60A Election to receive exemption/concession\n\nS. 60A(1) amended by Nos 22/2021 s. 19(1), 18/2023 s. 17(2)(a)(i), 38/2023 s. 10(2).\n\n(1) This section applies to a transferee or, if more than one, transferees who, but for this section or section 18(5) of the **First Home Owner Grant and Home Buyer Schemes Act 2000**, would be entitled to receive—\n\nS. 60A(1)(a) amended by No. 18/2023 s. 17(2)(a)(ii).\n\n(a) an exemption or concession from duty under section 60 in respect of a transfer of an estate in fee simple in land; and\n\n(b) any one or more of the following—\n\nS. 60A(1)(b)(i) amended by No. 28/2017 s. 17.\n\n(i) an exemption or concession from duty under section 57JA;\n\nS. 60A(1)(b)(ii) amended by No. 22/2021 s. 19(1).\n\n(ii) an amount in respect of an eligible transaction (within the meaning of the **First Home Owner Grant and Home Buyer Schemes Act 2000**) relating to that land under—\n\n(A) section 18(2) or 18(2A) of that Act (or both);\n\n(B) section 18(2AA) or 18(2B) of that Act (or both);\n\n(C) section 18(2AB) or 18(2C) of that Act (or both).\n\nS. 60A(2) amended by Nos 18/2023 s. 17(b)(i), 38/2023 s. 10(3).\n\n(2) The transferee or, if more than one, the transferees, by notice in writing to the Commissioner, must elect to receive—\n\nS. 60A(2)(a) amended by No. 18/2023 s. 17(b)(ii).\n\n(a) the exemption or concession under section 60 in respect of the transfer; or\n\n(b) any one or more of the following—\n\nS. 60A(2)(b)(i) amended by No. 28/2017 s. 17.\n\n(i) an exemption or concession from duty under section 57JA;\n\nS. 60A(2)(b)(ii) amended by No. 22/2021 s. 19(1).\n\n(ii) an amount in respect of an eligible transaction (within the meaning of the **First Home Owner Grant and Home Buyer Schemes Act 2000**) relating to that land under—\n\n(A) section 18(2) or 18(2A) of that Act (or both);\n\n(B) section 18(2AA) or 18(2B) of that Act (or both);\n\n(C) section 18(2AB) or 18(2C) of that Act (or both).\n\nS. 60A(3) amended by Nos 18/2023 s. 17(2)(c), 38/2023 s. 10(4).\n\n(3) If the transferee elects or, if there is more than one transferee, the transferees elect to receive any one or more of the following—\n\nS. 60A(3)(a) amended by No. 28/2017 s. 17.\n\n(a) an exemption or concession from duty under section 57JA;\n\nS. 60A(3)(b) amended by No. 22/2021 s. 19(1).\n\n(b) an amount in respect of an eligible transaction (within the meaning of the **First Home Owner Grant and Home Buyer Schemes Act 2000**) relating to that land under—\n\n(i) section 18(2) or 18(2A) of that Act (or both);\n\n(ii) section 18(2AA) or 18(2B) of that Act (or both);\n\n(iii) section 18(2AB) or 18(2C) of that Act (or both)—\n\nor do not make an election under this section, they are not entitled to the exemption or concession under section 60 in respect of the transfer.\n\nS. 60A(4) amended by No. 18/2023 s. 17(2)(d), repealed by No. 38/2023 s. 10(5).\n\nNote to s. 60A repealed by No. 18/2023 s. 17(3).\n\n","sortOrder":169},{"sectionNumber":"61","sectionType":"section","heading":"Who is an eligible first home owner?","content":"\t61 Who is an eligible first home owner?\n\n(1) A person is an ***eligible first home owner*** for the purposes of this Division if the Commissioner is satisfied that—\n\n(a) the person is a bona fide purchaser of an estate in fee simple in land for adequate consideration; and\n\n(b) the person intends to reside in a dwelling on the land as a principal place of residence; and\n\n(c) the person has a dependent child and had a dependent child at the time when, or within 11 months after—\n\n(i) if there was a dwelling on the land when the contract of sale of the land was entered into—the date on which the contract of sale was entered into; or\n\n(ii) if there was no dwelling on the land when the contract of sale of the land was entered into—the earlier of—\n\n(A) the date on which the contract for the construction of the dwelling was entered into; and\n\n(B) the date on which the building of the dwelling commenced; and\n\nS. 61(1)(d) repealed by No. 29/2002 s. 4(3)(a)(i).\n\n(e) the person has not previously held an estate in fee simple in land on which was erected a dwelling which was used as a principal place of residence by that person anywhere in Australia.\n\nS. 61(2) amended by No. 27/2001 s. 3(Sch. 1 item 2.7).\n\n(2) A person and his or her partner together are eligible first home owners if each of them satisfies the criteria set out in subsection (1).\n\nS. 61(3) amended by No. 27/2001 s. 3(Sch. 1 item 2.7), repealed by No. 29/2002 s. 4(3)(a)(ii).\n\n***dependent child***, in relation to a person, means a child under the age of 18 years in the custody, care and control of, and ordinarily resident with, the person.\n\n","sortOrder":170},{"sectionNumber":"62","sectionType":"section","heading":"Eligible first home owner exemption or concession where dwelling exists at the time of transfer","content":"\t62 Eligible first home owner exemption or concession where dwelling exists at the time of transfer\n\n(1) No duty is chargeable under this Chapter in respect of a transfer to an eligible first home owner of dutiable property being an estate in fee simple in land, if—\n\n(a) at the time of the transfer there is a dwelling on the land; and\n\nS. 62(1)(b) amended by No. 29/2002 s. 4(3)(b)(i).\n\n(b) the dutiable value of the dutiable property does not exceed $150 000.\n\n(2) An eligible first home owner is entitled to a concession from duty under this Chapter in respect of a transfer to the eligible home owner of dutiable property being an estate in fee simple in land, if at the time of the transfer there is a dwelling on the land, and—\n\nS. 62(2)(a) amended by No. 29/2002 s. 4(3)(b)(ii).\n\n(a) if there was a dwelling on the land at the time the contract of sale of the land was entered into—the dutiable value of the dutiable property exceeds $150 000 but does not exceed $200 000; or\n\nS. 62(2)(b) amended by No. 29/2002 s. 4(3)(b)(ii).\n\n(b) if the dwelling was constructed after the time the contract of sale of the land was entered into—the aggregate of the dutiable value of the dutiable property and the cost of construction of the dwelling exceeds $150 000 but does not exceed $200 000.\n\nS. 62(3) amended by Nos 29/2002 s. 4(3)(b)(iii), 86/2006 s. 4(c), 31/2008 s. 11(1)(a).\n\n(3) If subsection (2)(a) applies, the concession is an amount calculated in accordance with the formula—\n\nwhere P is the dutiable value of the property.\n\nS. 62(4) amended by Nos 29/2002 s. 4(3)(b)(iv), 86/2006 s. 4(d), 31/2008 s. 11(1)(b), 40/2016 s. 10(2).\n\n(4) If subsection (2)(b) applies, the concession is an amount calculated in accordance with the formula—\n\nD is the amount of duty paid or payable (but for this Division) on the transfer;\n\nP is the aggregate amount referred to in subsection (2)(b).\n\n","sortOrder":171},{"sectionNumber":"63","sectionType":"section","heading":"Eligible first home owner exemption or concession where dwelling is constructed after transfer","content":"\t63 Eligible first home owner exemption or concession where dwelling is constructed after transfer\n\n(1) No duty is chargeable under this Chapter in respect of a transfer to an eligible first home owner of dutiable property being an estate in fee simple in land, if—\n\n(a) at the time of the transfer there is not a dwelling on the land; and\n\n(b) a dwelling is constructed on the land within 3 years after that time; and\n\nS. 63(1)(c) amended by No. 29/2002 s. 4(3)(c)(i).\n\n(c) the aggregate of the dutiable value of the dutiable property and the cost of the construction of the dwelling does not exceed $150 000.\n\n(2) An eligible first home owner is entitled to a concession from or partial refund of duty under this Chapter in respect of a transfer to the eligible first home owner of dutiable property being an estate in fee simple in land, if—\n\n(a) at the time of the transfer there is not a dwelling on the land; and\n\n(b) a dwelling is constructed on the land within 3 years after that time; and\n\nS. 63(2)(c) amended by No. 29/2002 s. 4(3)(c)(ii).\n\n(c) the aggregate of the dutiable value of the dutiable property and the cost of the construction of the dwelling exceeds $150 000 but does not exceed $200 000.\n\nS. 63(3) amended by Nos 29/2002 s. 4(3)(c)(iii), 86/2006 s. 4(d), 31/2008 s. 11(1)(c), 40/2016 s. 10(3).\n\n(3) The concession or refund is an amount calculated in accordance with the formula—\n\nD is the amount of duty paid or payable (but for this Division) on the transfer;\n\nP is the aggregate amount referred to in subsection (2)(c).\n\nS. 63A inserted by No. 46/2004 s. 10.\n\n","sortOrder":172},{"sectionNumber":"63A","sectionType":"section","heading":"Temporary suspension of first home owner exemption or concession","content":"\t63A Temporary suspension of first home owner exemption or concession\n\nS. 63A(1) amended by Nos 36/2005 s. 12, 38/2006 s. 4.\n\n(1) Nothing in this Division applies to a transfer to an eligible first home owner of an estate in fee simple in land if the contract for the commencement date of the eligible transaction is made on or after 1 May 2004 and before 1 January 2006.\n\n(2) Despite subsection (1), if an eligible first home owner referred to in that subsection would, but for that subsection, be entitled to an exemption or concession under this Division, section 167 applies to the home owner as if he or she were so entitled.\n\nS. 63B inserted by No. 38/2006 s. 5.\n\n","sortOrder":173},{"sectionNumber":"63B","sectionType":"section","heading":"Election to receive eligible first home owner exemption/concession or additional first home owner grant","content":"\t63B Election to receive eligible first home owner exemption/concession or additional first home owner grant\n\nS. 63B(1) amended by No. 22/2021 s. 19(1).\n\n(1) This section applies to an eligible first home owner who, but for this section or section 18(6) of the **First Home Owner Grant and Home Buyer Schemes Act 2000**, would be entitled—\n\n(a) to an exemption or concession from duty under section 62 or 63 in respect of a transfer of an estate in fee simple in land; and\n\nS. 63B(1)(b) amended by No. 31/2008 s. 11(2)(a), substituted by No. 37/2009 s. 9(1), amended by No. 22/2021 s. 19(1).\n\n(b) to receive an amount in respect of an eligible transaction (within the meaning of the **First Home Owner Grant and Home Buyer Schemes Act 2000**) relating to that land under—\n\n(i) section 18(2) or 18(2A) of that Act (or both); or\n\nS. 63B(1)(b)(ii) amended by No. 28/2011 s. 17(a)(i).\n\n(ii) section 18(2AA) or 18(2B) of that Act (or both); or\n\nS. 63B(1)(b)(iii) inserted by No. 28/2011 s. 17(a)(ii).\n\n(iii) section 18(2AB) or 18(2C) of that Act (or both).\n\n(2) The eligible first home owner, by notice in writing to the Commissioner, must elect to receive—\n\n(a) the exemption or concession under section 62 or 63 (as the case requires) in respect of the transfer; or\n\nS. 63B(2)(b) amended by No. 31/2008 s. 11(2)(b), substituted by No. 37/2009 s. 9(2), amended by No. 22/2021 s. 19(1).\n\n(b) the amount in respect of the eligible transaction (within the meaning of the **First Home Owner Grant and Home Buyer Schemes Act 2000**) under—\n\nS. 63B(2)(b)(i) amended by No. 28/2011 s. 17(b)(i).\n\n(i) section 18(2) or 18(2A) of that Act (or both); or\n\nS. 63B(2)(b)(ii) amended by No. 28/2011 s. 17(b)(ii).\n\n(ii) section 18(2AA) or 18(2B) of that Act (or both); or\n\nS. 63B(2)(b)(iii) inserted by No. 28/2011 s. 17(b)(iii).\n\n(iii) section 18(2AB) or 18(2C) of that Act (or both).\n\nS. 63B(3) amended by No. 31/2008 s. 11(2)(b), substituted by No. 37/2009 s. 9(3), amended by No. 22/2021 s. 19(1).\n\n(3) If the eligible first home owner elects to receive the amount under—\n\nS. 63B(3)(a) amended by No. 28/2011 s. 17(c)(i).\n\n(a) section 18(2) or 18(2A) (or both); or\n\nS. 63B(3)(b) amended by No. 28/2011 s. 17(c)(ii).\n\n(b) section 18(2AA) or 18(2B) (or both); or\n\nS. 63B(3)(c) inserted by No. 28/2011 s. 17(d).\n\n(c) section 18(2AB) or 18(2C)(or both)—\n\nof the **First Home Owner Grant and Home Buyer Schemes Act 2000**, or does not make an election under this section, he or she is not entitled to the exemption or concession under section 62 or 63 (as the case requires) in respect of the transfer.\n\n","sortOrder":174},{"sectionNumber":"64","sectionType":"section","heading":"Double duty for false or misleading statements","content":"\t64 Double duty for false or misleading statements\n\n(1) If a person—\n\n(a) represents to a tax officer that duty is not chargeable, or that the person is entitled to a concession or refund of duty, because of this Division; and\n\n(b) is convicted of an offence against section 57 of the **Taxation Administration Act 1997** as a consequence—\n\nthe person is liable, by way of further penalty, to pay an amount equal to double the amount of duty that, but for the offence, would have been payable, less any amount of duty that the person did pay.\n\n(2) The penalty in subsection (1) is in addition to any penalty tax or interest that may be payable under the **Taxation Administration Act 1997**.\n\nCh. 2 Pt 5 Div. 5A (Heading and ss 64A−64H) inserted by No. 17/2019 s. 32.\n\n","sortOrder":175},{"sectionNumber":"Div 5A","sectionType":"division","heading":"Commercial and industrial land in regional Victoria","content":"Division 5A—Commercial and industrial land in regional Victoria\n\nS. 64A inserted by No. 17/2019 s. 32.\n\n","sortOrder":176},{"sectionNumber":"64A","sectionType":"section","heading":"Definitions","content":"\t64A Definitions\n\n***AVPCC*** means an Australian Valuation Property Classification Code based on the Valuation Best Practice Specifications Guidelines;\n\n***eligible transfer*** means a transfer of dutiable property referred to in section 10(1)(a) or (ad) that—\n\n(a) is wholly in regional Victoria; and\n\n(b) the transferee intends to use solely or primarily for a qualifying use;\n\n***qualifying use*** means a land use described in an AVPCC in the following ranges—\n\n(a) 210 to 299;\n\n(b) 310 to 499;\n\nS. 64A def. of *regional Victoria* amended by No. 22/2021 s. 19(2).\n\n***regional Victoria*** has the same meaning as in section 18(8) of the **First Home Owner Grant and Home Buyer Schemes Act 2000**;\n\nS. 64A def. of *state of disaster area* inserted by No. 14/2020 s. 3.\n\n***state* *of* *disaster* *area*** means—\n\n(a) the municipal districts of the following municipal councils—\n\n(i) Alpine Shire Council;\n\n(ii) East Gippsland Shire Council;\n\n(iii) Mansfield Shire Council;\n\n(iv) Towong Shire Council;\n\n(v) Wangaratta Rural City Council;\n\n(vi) Wellington Shire Council; and\n\n(b) the following alpine resorts within the meaning of the **Alpine Resorts Act 1983**—\n\n(i) Falls Creek Alpine Resort;\n\n(ii) Mount Buller Alpine Resort;\n\n(iii) Mount Hotham Alpine Resort;\n\n(iv) Mount Stirling Alpine Resort;\n\n***Valuation Best Practice Specifications Guidelines*** has the same meaning as in the **Valuation of Land Act 1960**.\n\nS. 64B inserted by No. 17/2019 s. 32, amended by No. 14/2020 s. 4(1) (ILA s. 39B(1)).\n\n","sortOrder":177},{"sectionNumber":"64B","sectionType":"section","heading":"Reduction in duty in relation to eligible transfers","content":"\t64B Reduction in duty in relation to eligible transfers\n\n(1) Subject to subsection (2), the duty chargeable under section 28(1) on an eligible transfer the contract, arrangement or agreement for which was entered into on a date referred to in column 2 of the following Table is to be reduced by the percentage set out in column 3 opposite that date.\n\nS. 64B(1) (Table) amended by No. 47/2020 s. 11(a)(b).\n\n| *Column 1*<br>*Item* | *Column 2*<br>*Date contract, arrangement or agreement for eligible transfer was entered into* | *Column 3*<br>*Percentage* |\n| 1 | On or after 1 July 2019 but before 1 July 2020 | 10% |\n| 2 | On or after 1 July 2020 but before 1 January 2021 | 20% |\n| 3 | On or after 1 January 2021 | 50% |\n\nS. 64B(2) inserted by No. 14/2020 s. 4(2), amended by No. 47/2020 s. 11(c).\n\n(2) The duty chargeable under section 28(1) on an eligible transfer in relation to land located wholly within a state of disaster area the contract, arrangement or agreement for which was entered into on or after 27 January 2020 but before 1 January 2021 is to be reduced by 50%.\n\nS. 64B(3) inserted by No. 14/2020 s. 4(2).\n\n(3) Subsection (2) is legislated emergency tax relief for the purposes of Part 9A of the **Taxation Administration Act 1997**.\n\nS. 64C inserted by No. 17/2019 s. 32.\n\n","sortOrder":178},{"sectionNumber":"64C","sectionType":"section","heading":"Calculation of duty for certain aggregated transactions","content":"\t64C Calculation of duty for certain aggregated transactions\n\n(1) The duty chargeable in the case of transactions that are aggregated under section 24(1) is to be calculated under this section if—\n\n(a) at least one of the dutiable transactions is an eligible transfer subject to a reduction of duty under section 64B; and\n\n(b) at least one of the dutiable transactions is—\n\n(i) a dutiable transaction that is not an eligible transfer; or\n\n(ii) an eligible transfer that is subject to a reduction in duty under section 64B calculated on a different percentage to the eligible transfer referred to in paragraph (a).\n\nS. 64C(2) amended by No. 14/2020 s. 5.\n\n(2) The duty chargeable on aggregated transactions referred to in subsection (1) is the sum of the duty for each dutiable transaction, where the duty for each dutiable transaction is calculated in accordance with the following formula—\n\n **D** is the amount of duty that is payable for each dutiable transaction;\n\n **A** is the duty that would be chargeable on the aggregated transactions, without taking into account any reduction in duty under section 64B;\n\n **B** is the dutiable value of the dutiable transaction;\n\n **C** is the total dutiable value of all dutiable transactions that are aggregated;\n\n **R** is—\n\n(a) if the dutiable transaction is an eligible transfer—the relevant percentage set out in section 64B, expressed as a fraction; or\n\n(b) if the dutiable transaction is not an eligible transfer—0.\n\nS. 64D inserted by No. 17/2019 s. 32.\n\n","sortOrder":179},{"sectionNumber":"64D","sectionType":"section","heading":"Election to receive reduction or other concession or exemption","content":"\t64D Election to receive reduction or other concession or exemption\n\n(1) A transferee who, but for this section, would be entitled in respect of an eligible transfer to a reduction in duty under section 64B and any other exemption or concession from duty under this Act, must, by notice in writing to the Commissioner, elect to receive—\n\n(a) the reduction in duty under section 64B; or\n\n(b) the other exemption or concession from duty under this Act.\n\n(2) A transferee referred to in subsection (1) who elects to receive the other exemption or concession under this Act or who does not make an election under this section is not entitled to the reduction in duty under section 64B in respect of the eligible transfer.\n\nS. 64E inserted by No. 17/2019 s. 32.\n\n","sortOrder":180},{"sectionNumber":"64E","sectionType":"section","heading":"Use requirement","content":"\t64E Use requirement\n\nA reduction in duty under section 64B is subject to the requirement that the land is used solely or primarily for a qualifying use for a continuous period of at least 12 months commencing within the 2-year period immediately after the transferee became entitled to possession of the land.\n\nS. 64F inserted by No. 17/2019 s. 32.\n\n","sortOrder":181},{"sectionNumber":"64F","sectionType":"section","heading":"Variation of use requirement","content":"\t64F Variation of use requirement\n\n(a) reduce the required period of qualifying use; or\n\n(b) determine that a temporary cessation of qualifying use does not break the continuity of the qualifying use; or\n\n(c) extend the period in which qualifying use must begin.\n\nS. 64G inserted by No. 17/2019 s. 32.\n\n","sortOrder":182},{"sectionNumber":"64G","sectionType":"section","heading":"Liability for duty if use requirement not complied with","content":"\t64G Liability for duty if use requirement not complied with\n\n(1) If the use requirement for an eligible transfer is not complied with—\n\n(a) the eligible transfer is chargeable with duty at the rate set out in section 28(1) as if section 64B does not apply, subject to any exemption or concession other than in this Division; and\n\n(2) A liability for duty imposed because of subsection (1) on an eligible transfer arises when the use requirement for that transfer is not complied with.\n\nSection 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.\n\n(3) A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made.\n\nSection 9(3)(c) of the **Taxation Administration Act 1997** allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.\n\nS. 64H inserted by No. 17/2019 s. 32.\n\n","sortOrder":183},{"sectionNumber":"64H","sectionType":"section","heading":"Transferee to notify Commissioner of change in circumstances","content":"\t64H Transferee to notify Commissioner of change in circumstances\n\n(1) A transferee who has received a reduction of duty under section 64B must lodge a written notice with the Commissioner within 30 days after becoming aware of any circumstances that may result in the use requirement not being complied with.\n\n(2) A failure of a transferee to comply with subsection (1) does not affect the Commissioner's power to reassess duty under section 64G or to exercise a discretion under section 64F.\n\n","sortOrder":184},{"sectionNumber":"Div 6","sectionType":"division","heading":"Exemptions and concessions in relation to marketable securities","content":"Division 6—Exemptions and concessions in relation to marketable securities\n\n","sortOrder":185},{"sectionNumber":"65","sectionType":"section","heading":"Co-operatives and co-operative housing societies","content":"\t65 Co-operatives and co-operative housing societies\n\nNo duty is chargeable under this Chapter in respect of a transfer of marketable securities—\n\n(a) in a co-operative, if the transfer is made for a consideration of not less than the unencumbered value of the marketable securities; or\n\n(b) in a co-operative housing society.\n\n","sortOrder":186},{"sectionNumber":"66","sectionType":"section","heading":"Loans and temporary transfers","content":"\t66 Loans and temporary transfers\n\n(a) a transfer of marketable securities that is made as a security, other than a transfer to secure the rights of a purchaser or intended purchaser of the marketable securities under a contemplated sale; or\n\n(b) a re-transfer of marketable securities referred to in paragraph (a) to the original transferee.\n\n(2) No duty is chargeable under this Chapter in respect of a transfer of marketable securities that is made for the sole purpose of—\n\n(a) vesting the marketable securities in the transferee for sale and delivery; or\n\n(b) qualifying the transferee as nominee director to act and vote on behalf of a holding company as it directs; or\n\n(c) re-transferring marketable securities to a holding company referred to in paragraph (b).\n\n","sortOrder":187},{"sectionNumber":"67","sectionType":"section","heading":"Nomineeing transactions—unquoted marketable securities","content":"\t67 Nomineeing transactions—unquoted marketable securities\n\nNo duty is chargeable under this Chapter in respect of a transfer of marketable securities between any of the following persons—\n\n(a) the beneficial owner;\n\n(b) a trustee or nominee of the beneficial owner;\n\n(c) a custodian of a trustee or nominee of the beneficial owner;\n\n(d) a sub-custodian of a custodian of a trustee or nominee of the beneficial owner—\n\nbut only if—\n\n(e) there is no change in the beneficial ownership of the marketable securities; and\n\n(f) if the transferee is a person referred to in paragraph (b), (c) or (d)—the transferee is to hold the marketable securities solely for another person referred to in paragraph (a), (b) or (c) and there is no contemplation of the marketable securities being held for any other person; and\n\n(g) if the transferor is a person referred to in paragraph (b), (c) or (d)—the marketable securities were held by the person solely for another person referred to in paragraph (a), (b) or (c) and, since the time when the marketable securities were first transferred or issued to the transferor, no person has held the marketable securities other than solely for a person referred to in paragraph (a), (b) or (c).\n\nS. 68 amended by No. 44/2001 s. 3(Sch. item 32.4).\n\n","sortOrder":188},{"sectionNumber":"68","sectionType":"section","heading":"Share buy-backs","content":"\t68 Share buy-backs\n\nNo duty is chargeable under this Chapter in respect of a dutiable transaction arising because of a buy-back of shares in accordance with Division 2 of Part 2J.1 of the Corporations Act, unless the buy-back is effected by the purchaser under one or more agreements, understandings or arrangements that the purchaser will issue marketable securities.\n\n","sortOrder":189},{"sectionNumber":"69","sectionType":"section","heading":"Reduction of duty—payment in non-Australian jurisdiction","content":"\t69 Reduction of duty—payment in non-Australian jurisdiction\n\n(1) The amount of duty chargeable under this Chapter in respect of a transfer of marketable securities is to be reduced by the amount of duty of a similar kind paid in relation to the transfer in accordance with the law of a place outside Australia.\n\n(2) In this section, a reference to a transfer of marketable securities includes a reference to a dealing or arrangement affecting marketable securities by means of a dutiable transaction other than a transfer.\n\nCh. 2 Pt 5  \nDiv. 7 (Heading and ss 69AA–69AI) inserted by No. 28/2011 s. 19.\n\n","sortOrder":190},{"sectionNumber":"Div 7","sectionType":"division","heading":"Young farmers","content":"Division 7—Young farmers\n\nS. 69AA inserted by No. 28/2011 s. 19.\n\n\t69AA Definitions\n\n***capital beneficiary*** of a discretionary trust means a person, or a member of a class of person, in whom, by the terms of the trust, the whole or any part of the capital of the trust estate may be vested or remain vested—\n\n(a) in the event of the exercise of a power or discretion in favour of the person (whether or not that power is presently exercisable); or\n\n***disqualifying interest*** has the meaning given by section 69AB;\n\n***farmland*** means land used, or intended to be used, primarily for the business of primary production;\n\n***fixed trust*** means a trust under which the identity of the beneficiaries and the quantum of their interests are ascertained;\n\nS. 69AA def. of *nominee for a young farmer* inserted by No. 46/2019 s. 3(a).\n\n***nominee for a young farmer*** means a person who holds farmland on trust for a young farmer but has no other active powers in respect of that land;\n\n***primary production requirement*** means the requirement referred to in section 69AC;\n\nS. 69AA def. of *young farmer* substituted by No. 46/2019 s. 3(b).\n\n***young farmer*** means a natural person (not acting in the capacity of a trustee under a trust) who is engaged in, or intends to engage in, primary production on farmland;\n\nS. 69AA def. of *young farmer business entity* amended by No. 46/2019 s. 3(c).\n\n***young farmer business entity*** means—\n\n(a) a nominee for a young farmer; or\n\n(b) a company (not acting in the capacity of a trustee under a trust) all the shares in which are owned by a young farmer, or the young farmer and the young farmer's partner; or\n\n(c) a trustee under a discretionary trust, the capital beneficiaries of which are limited to a young farmer, or the young farmer and the young farmer's partner; or\n\n(d) a trustee under a fixed trust, the beneficiaries of which are limited to a young farmer, or the young farmer and the young farmer's partner.\n\nS. 69AB inserted by No. 28/2011 s. 19.\n\n\t69AB Disqualifying interest\n\nFor the purposes of this Division, ***disqualifying interest*** means—\n\n(a) in respect of a young farmer or the young farmer's partner—\n\n(i) an estate in fee simple in farmland held or previously held by the young farmer or the young farmer's partner; or\n\n(ii) shares in a company—\n\n(A) currently held by the young farmer or the young farmer's partner, if the company holds or has previously held an estate in fee simple in farmland; or\n\n(B) previously held by the young farmer or the young farmer's partner, if those shares were held at the same time that the company held an estate in fee simple in farmland; or\n\n(iii) if the young farmer or the young farmer's partner—\n\n(A) is a beneficiary of a fixed trust and the trust property includes or has previously included an estate in fee simple in farmland; or\n\n(B) was previously a beneficiary of a fixed trust and, while the young farmer or the young farmer's partner was a beneficiary, the trust property included an estate in fee simple in farmland; or\n\n(iv) if the young farmer or the young farmer's partner—\n\n(A) is a capital beneficiary of a discretionary trust and the trust property includes or has previously included an estate in fee simple in farmland; or\n\n(B) was previously a capital beneficiary of a discretionary trust and, while the young farmer or young farmer's partner was a capital beneficiary, the trust property included an estate in fee simple in farmland;\n\n(b) in respect of a young farmer business entity that is—\n\nS. 69AB(b)(i) amended by No. 46/2019 s. 4.\n\n(i) a nominee for a young farmer—if the nominee holds or has previously held an estate in fee simple in farmland on trust for that young farmer; or\n\n(ii) a company (not acting in the capacity of a trustee under a trust)—if the company holds or has previously held an estate in fee simple in farmland; or\n\n(iii) a trustee under a discretionary trust—if the trustee holds or has previously held an estate in fee simple in farmland on trust for that discretionary trust; or\n\n(iv) a trustee under a fixed trust—if the trustee holds or has previously held an estate in fee simple in farmland on trust for that fixed trust.\n\nS. 69AC inserted by No. 28/2011 s. 19, substituted by No. 46/2019 s. 5.\n\n\t69AC Primary production requirement\n\n(1) The concession and exemption under this Division are subject to the requirements in this section (the ***primary production requirement***).\n\n(2) If the transferee of the dutiable property is a young farmer or a nominee for a young farmer, by the end of the relevant period the young farmer—\n\n(a) must carry on the business of primary production on the farmland; and\n\n(b) must normally be engaged in a substantially full-time capacity in that business.\n\n(3) If the transferee of the dutiable property is a company (not acting in the capacity of a trustee under a trust), by the end of the relevant period—\n\n(a) the principal business of the company must be primary production on the farmland; and\n\n(b) the young farmer must normally be engaged in a substantially full-time capacity in that business.\n\n(4) If the transferee of the dutiable property is a trustee under a trust, by the end of the relevant period—\n\n(a) the principal business of the trust must be primary production on the farmland; and\n\n(b) the young farmer must normally be engaged in a substantially full-time capacity in that business.\n\n***relevant period*** means the period of 5 years from the date the transferee entered the contract for the transfer of the dutiable property.\n\nS. 69AD inserted by No. 28/2011 s. 19.\n\n\t69AD Exemption or concession for young farmers\n\n(1) A transferee who is a young farmer or a young farmer business entity is entitled to an exemption or concession from duty under this Chapter in respect of one or more transfers of dutiable property, if—\n\n(a) the dutiable property the subject of each transfer is an estate in fee simple in farmland; and\n\n(b) at the time that the contract or contracts for the transfer or transfers of the dutiable property is or are entered into—\n\n(i) if the transferee is a young farmer—the young farmer is under the age of 35; or\n\n(ii) if the transferee is a young farmer business entity—the young farmer in respect of that entity is under the age of 35; and\n\n(i) a young farmer—\n\n(A) who does not have a disqualifying interest; and\n\n(B) whose partner does not have a disqualifying interest; or\n\n(ii) a young farmer business entity—\n\n(A) that does not have a disqualifying interest; and\n\n(B) where the young farmer or the young farmer's partner in respect of that young farmer business entity does not have a disqualifying interest; and\n\n(d) the dutiable value of the dutiable property—\n\nS. 69AD  \n(1)(d)(i) amended by No. 41/2013 s. 19.\n\n(i) in the case of one transfer of dutiable property—does not exceed $750 000; or\n\nS. 69AD  \n(1)(d)(ii) amended by No. 22/2018 s. 14.\n\n(ii) in the case of two or more transfers of dutiable property—for one of those transfers, does not exceed $600 000; and\n\n(e) the transferee is a young farmer or young farmer business entity who meets the primary production requirement in relation to the dutiable property.\n\n(2) An exemption or concession from duty under subsection (1) will apply in respect of two or more transfers of dutiable property only if those transfers arise from—\n\n(a) a single contract of sale; or\n\n(b) two or more contracts of sale entered into at the same time.\n\nS. 69AE inserted by No. 28/2011 s. 19, substituted by No. 41/2013 s. 20.\n\n\t69AE Calculation of exemption or concession on transfer of single parcel of land or partial interest in single parcel of land\n\n(1) This section applies for the purposes of section 69AD in the case of one transfer of dutiable property.\n\nS. 69AE(2) amended by No. 22/2018 s. 15(1).\n\n(2) If the dutiable value of the dutiable property does not exceed $600 000, the young farmer or young farmer business entity (as the case requires) is entitled to an exemption from duty in respect of the dutiable value of the dutiable transaction.\n\nExamples to s. 69AE(2) substituted as Example by No. 22/2018 s. 15(2).\n\nA young farmer enters into a dutiable transaction with a dutiable value of $275 000. No duty is payable as the young farmer is entitled to an exemption in respect of the whole dutiable value (as it is less than $600 000).\n\nS. 69AE(3) substituted by No. 22/2018 s. 15(3).\n\n(3) If the dutiable value of the dutiable property exceeds $600 000 but does not exceed $750 000, the young farmer or young farmer business entity (as the case requires) is entitled to pay a concessional amount of duty that is calculated in accordance with the following formula—\n\n **B** is the amount of duty paid or payable (but for this section) on the transfer of the dutiable property.\n\nS. 69AF inserted by No. 28/2011 s. 19.\n\n\t69AF Calculation of exemption on transfer of multiple parcels and partial interests of land\n\n(1) For the purposes of section 69AD, in the case of two or more transfers of dutiable property—\n\n(a) the exemption from duty on the dutiable transactions is calculated as if section 24 applies to aggregate the dutiable transactions (whether or not section 24 applies to aggregate the dutiable transactions); and\n\nS. 69AF(1)(b) amended by No. 22/2018 s. 16(1).\n\n(b) the young farmer or young farmer business entity (as the case requires) is entitled to an exemption from duty in respect of $600 000 of the aggregated dutiable value of the dutiable transactions; and\n\n(c) once paragraph (b) has applied, the duty payable on the dutiable transactions is calculated—\n\n(i) in accordance with section 24; and\n\n(ii) as if the dutiable values of the dutiable transactions do not include any amount in respect of which an exemption has been applied under paragraph (b).\n\n(2) The exemption from duty under subsection (1)(c) is applied against the dutiable values of the dutiable transactions in the order of ascending dutiable values of the dutiable transactions.\n\nExample to S. 69AF(2) substituted by No. 22/2018 s. 16(2).\n\nA young farmer enters into 3 dutiable transactions with dutiable values of $200 000 (Transaction A), $300 000 (Transaction B) and $500 000 (Transaction C). An exemption in respect of $600 000 of the aggregated dutiable value of the dutiable transactions is first applied to the dutiable transaction with the lowest dutiable value, and then to the dutiable transaction with the next lowest dutiable value. This means that a full exemption from duty applies to Transaction A and Transaction B, with a partial exemption applied to Transaction C in respect of $100 000 of its dutiable value.\n\nS. 69AG inserted by No. 28/2011 s. 19.\n\n\t69AG Election to receive young farmer exemption/concession or principal place of residence concession\n\n(1) This section applies to a young farmer who, but for this section, in respect of a transfer of an estate in fee simple in farmland, would be entitled—\n\n(a) to an exemption or concession from duty under section 69AD; and\n\n(b) to a concession from duty under section 57J.\n\n(2) The young farmer, by notice in writing to the Commissioner, must elect to receive—\n\n(a) the exemption or concession under section 69AD; or\n\n(b) the concession from duty under section 57J.\n\n(3) If the young farmer elects to receive a concession under section 57J, or does not make an election under this section, he or she is not entitled to the exemption under section 69AD in respect of the transfer.\n\nS. 69AH inserted by No. 28/2011 s. 19.\n\n\t69AH Liability for duty if primary production requirement not complied with\n\n(1) If a young farmer or young farmer business entity has received an exemption or concession from duty under this Division and the primary production requirement is not complied with—\n\n(a) the transfer is chargeable with duty at the rate set out in section 28(1) as if section 69AD does not apply, subject to any exemption or concession other than in this Division; and\n\n(b) the Commissioner may reassess duty on the transfer accordingly (giving an allowance for any duty already paid on the transfer).\n\n(2) A liability for duty imposed because of subsection (1) on a transfer arises when the primary production requirement for that transfer is not complied with.\n\nNote to s. 69AH(2) amended by No. 69/2011 s. 10.\n\nSection 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.\n\n(3) A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made.\n\nSection 9(3)(c) of the **Taxation Administration Act 1997** allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.\n\nS. 69AI inserted by No. 28/2011 s. 19.\n\n\t69AI Farmer to notify Commissioner of change in circumstances\n\n(1) A young farmer or a young farmer business entity who has received an exemption or concession under this Division must lodge a written notice with the Commissioner within 30 days of becoming aware of any circumstances that may result in the primary production requirement not being complied with.\n\n(2) A failure of a young farmer or young farmer business entity to comply with subsection (1) does not affect the Commissioner's power to reassess duty under section 69AH.\n\nCh. 2 Pt 5 Div. 8 (Heading and ss 69AJ–69AM) inserted by No. 22/2018 s. 5.\n\nDivision 8—Exemption from additional duty for foreign purchasers\n\nS. 69AJ inserted by No. 22/2018 s. 5.\n\n\t69AJ Certain foreign purchasers exempt from additional duty under section 28A\n\nA foreign purchaser is entitled to an exemption from additional duty chargeable under section 28A in respect of a dutiable transaction in which a land-related interest in residential property is transferred to the foreign purchaser if—\n\n(a) the foreign purchaser is a foreign natural person who is the spouse or domestic partner of a natural person who is not a foreign natural person; and\n\n(b) the land-related interest in residential property is transferred jointly to the foreign purchaser and the foreign purchaser's spouse or domestic partner; and\n\n(c) subject to section 69AK, the foreign purchaser occupies the residential property as the foreign purchaser's principal place of residence for a continuous period of at least 12 months commencing within the 12 month period immediately after the foreign purchaser becomes entitled to possession of the residential property.\n\nS. 69AK inserted by No. 22/2018 s. 5.\n\n\t69AK Variation of residence requirement for exemption\n\n(1) If satisfied there is a good reason for doing so, the Commissioner may—\n\n(a) reduce the period of residence required by section 69AJ(c); or\n\n(b) determine that a temporary absence from residence does not break the continuity of residence for the purposes of section 69AJ(c); or\n\n(c) extend the period in which the residence required by section 69AJ(c) must commence.\n\n(2) If the Commissioner determines that a temporary absence from residence does not break the continuity of residence, the foreign purchaser is not entitled to an exemption under section 69AJ in respect of any other dutiable transaction of a kind referred to in that section during the period of temporary absence unless the foreign purchaser pays additional duty on the original dutiable transaction calculated at the rate set out in section 28A(2).\n\n(3) If a foreign purchaser who is occupying residential property that is the subject of a dutiable transaction to which an exemption under section 69AJ applies as the foreign purchaser's principal place of residence, or who is temporarily absent from the land in accordance with a determination under subsection (1), dies, the requirement under section 69AJ(c) is taken to have been complied with.\n\nS. 69AL inserted by No. 22/2018 s. 5.\n\n\t69AL Liability for additional duty if residence requirement not complied with\n\n(1) If the period of residence required by section 69AJ(c) for an exemption under section 69AJ is not complied with—\n\n(a) the dutiable transaction is chargeable with additional duty at the rate set out in section 28A(2); and\n\n(2) A liability for additional duty imposed because of subsection (1) on the dutiable transaction arises when the required period of residence is not complied with.\n\nSection 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.\n\n(3) A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made.\n\nSection 9(3)(c) of the **Taxation Administration Act 1997** allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.\n\n(4) If the period of residence required by section 69AJ(c) for an exemption under section 69AJ is not complied with, the foreign purchaser is not entitled to an exemption under that section in respect of any other dutiable transaction of a kind referred to in that section until the foreign purchaser has paid additional duty for which the person is liable because of this section.\n\nS. 69AM inserted by No. 22/2018 s. 5.\n\n\t69AM Foreign purchasers must notify Commissioner of change in circumstance\n\n(1) A foreign purchaser who has received an exemption under section 69AJ must lodge a written notice with the Commissioner within 30 days after becoming aware of any circumstances that may result in the requirement under section 69AJ(c) not being complied with.\n\n(2) A failure of the foreign purchaser to comply with subsection (1) does not affect the Commissioner's power to exercise a discretion under section 69AK or to reassess duty under section 69AL.\n\nCh. 2 Pt 5 Div. 9 (Heading and ss 69AN–69AT) inserted by No. 16/2024 s. 37.\n\nDivision 9—Tax reform scheme transactions\n\nS. 69AN (Heading) amended by No. 50/2024 s. 4(1).\n\nS. 69AN inserted by No. 16/2024 s. 37, amended by No. 50/2024 s. 4(2)(a)(3) (ILA s. 39B(1).\n\n\t69AN Tax reform scheme transactions\n\n(1) For the purposes of this Division, a dutiable transaction is a ***standard transaction*** if—\n\n(a) the transaction is a dutiable transaction described in section 7(1)(a) or (b), other than—\n\n(i) a dutiable transaction described in section 7(1)(b)(v) or (va); or\n\nS. 69AN (1)(a)(ia) inserted by No. 50/2024 s. 4(2)(b).\n\n(ia) a surrender of a lease of a kind referred to in section 7(1)(b)(v) or (va); or\n\nS. 69AN (1)(a)(ii) amended by No. 50/2024 s. 4(2)(c).\n\n(ii) the acquisition of an economic entitlement; and\n\n(b) the dutiable property the subject of the dutiable transaction is an estate or interest in land in Victoria described in section 10(1)(a); and\n\n(c) the land is tax reform scheme land; and\n\n(d) on the date of the dutiable transaction, the land has a qualifying use.\n\nS. 69AN(2) inserted by No. 50/2024 s. 4(3).\n\n(2) For the purposes of this Division, a dutiable transaction is a ***non-standard transaction*** if—\n\n(a) the dutiable transaction is—\n\n(i) the granting of a lease referred to in section 7(1)(b)(v) over tax reform scheme land; or\n\n(ii) the transfer or assignment of a lease referred to in section 7(1)(b)(va) over tax reform scheme land; or\n\n(iii) the surrender of a lease of a kind referred to in section 7(1)(b)(v) or (va) over tax reform scheme land; or\n\n(iv) a dutiable transaction that relates to dutiable property referred to in section 10(1)(ad) located on tax reform scheme land; or\n\n(v) the acquisition of an economic entitlement in relation to tax reform scheme land; and\n\n(b) on the date of the dutiable transaction, the tax reform scheme land has a qualifying use.\n\nS. 69AO inserted by No. 16/2024 s. 37, substituted by No. 50/2024 s. 5.\n\n\t69AO Exemption—3 years after entry transaction\n\n(1) No duty is chargeable under this Chapter on a standard transaction if a period of at least 3 years has elapsed between—\n\n(a) the entry date for the tax reform scheme land to which the standard transaction relates; and\n\n(b) the date on which a contract or other agreement or arrangement for the standard transaction is entered into.\n\n(2) No duty is chargeable under this Chapter on a non-standard transaction if—\n\n(a) a period of at least 3 years has elapsed between—\n\n(i) the entry date for the tax reform scheme land to which the non-standard transaction relates; and\n\n(ii) the date on which a contract or other agreement or arrangement for the non-standard transaction is entered into; and\n\n(b) the value of the tax reform scheme land, for the purposes of calculating the duty payable on the entry transaction and on the acquisition of any further interests in the land—\n\n(ii) did not exclude the value of an interest in fixtures referred to in section 10(1)(ad) located on the land; and\n\n(3) In this section, ***further interest*** has the same meaning as it has in section 69AP.\n\nS. 69AP (Heading) amended by No. 50/2024 s. 6(1).\n\nS. 69AP inserted by No. 16/2024 s. 37.\n\n\t69AP Exemption—tax reform scheme land fully assessed for duty\n\nS. 69AP(1) amended by No. 50/2024 s. 6(2).\n\n(1) No duty is chargeable under this Chapter on a standard transaction if the entry interest for the land to which the standard transaction relates was a 100% interest.\n\nS. 69AP(2) amended by No. 50/2024 s. 6(3).\n\n(2) No duty is chargeable under this Chapter on a standard transaction if the entry interest for the land to which the standard transaction relates and any further interest obtained in the land before the standard transaction amount to a 100% interest in the land.\n\nS. 69AP(2A) inserted by No. 50/2024 s. 6(4).\n\n(2A) No duty is chargeable under this Chapter on a non-standard transaction if—\n\n(a) either—\n\n(i) the entry interest for the land to which the non-standard transaction relates was a 100% interest; or\n\n(ii) the entry interest for the land to which the non-standard transaction relates and any further interest obtained in the land before the non-standard transaction amount to a 100% interest; and\n\n(b) the value of the tax reform scheme land, for the purposes of calculating the duty payable on the entry transaction and on the acquisition of any further interests in the land—\n\n(ii) did not exclude the value of an interest in fixtures referred to in section 10(1)(ad) located on the land; and\n\n(3) For the purposes of subsection (2), a ***further interest*** in land means an interest that is—\n\n(a) obtained under a qualifying dutiable transaction or a qualifying landholder transaction, other than the relevant entry transaction for the land; and\n\n(b) a different interest to the entry interest for the land and any other further interest for the land.\n\nS. 69AQ (Heading) amended by No. 50/2024 s. 7(1).\n\nS. 69AQ inserted by No. 16/2024 s. 37.\n\n\t69AQ Exemption—tax reform scheme land partially assessed for duty\n\nS. 69AQ(1) amended by No. 50/2024 s. 7(2).\n\n(1) No duty is chargeable under this Chapter on a standard transaction to the extent that the dutiable property the subject of the transaction is the same or substantially the same as either or both of the following—\n\n(a) the entry interest for the land;\n\nS. 69AQ(1)(b) amended by No. 50/2024 s. 7(2).\n\n(b) any further interest acquired in the land before the standard transaction.\n\n(2) The Commissioner may treat an interest in land as substantially the same as a qualifying interest in the land if the Commissioner is satisfied that it is appropriate to do so in the circumstances.\n\nS. 69AQ(2) (Examples) amended as (Example) by No. 24/2025 s. 9.\n\nPerson A acquires a 50% interest in land under a transfer of land which occurs on 1 January 2026. This is a qualifying interest in the land and the dutiable transaction is an entry transaction. Person A acquires another 30% interest in the land on 1 January 2027 under a qualifying dutiable transaction. Person B is the beneficial owner of the remaining 20% interest in the land. On 1 July 2027, Person C purchases the land from Person A and Person B. No duty is chargeable on this tax reform scheme transaction to the extent that the interest acquired by Person C is the same, or substantially the same, as the entry interest for the land (50%) and the further interest acquired in the land (30%). Duty is assessed on the remaining 20% interest in the land acquired by Person C.\n\n(3) In this section, a ***further interest*** in land means an interest that is—\n\n(a) obtained under a qualifying dutiable transaction or a qualifying landholder transaction, other than the relevant entry transaction for the land; and\n\n(b) a different interest to the entry interest for the land and any other further interest obtained in the land.\n\nS. 69AQA inserted by No. 50/2024 s. 8.\n\n\t69AQA Exemption or duty reduction—non-standard transaction\n\n(1) The Commissioner may reduce the duty payable on a non-standard transaction relating to tax reform scheme land that is not exempt from duty under section 69AO(2) or 69AP(2A) or determine that the non-standard transaction is exempt from duty if the Commissioner, having regard to the matters in subsection (2), is satisfied that it is appropriate to do so.\n\n(2) For the purposes of subsection (1), the Commissioner must have regard to the following matters—\n\n(a) the quantum of the entry interest and any further interests acquired in the tax reform scheme land; and\n\n(b) the extent to which the value of the tax reform scheme land, for the purposes of calculating the duty payable on the entry transaction and on the acquisition of any further interests in the land—\n\n(i) was reduced by a lease over the land or part of the land; and\n\n(ii) excluded the value of an interest in fixtures referred to in section 10(1)(ad) located on the land; and\n\n(iii) was reduced by an economic entitlement in relation to the land; and\n\n(c) if a specified transaction occurred on or after 1 July 2024 but before the entry transaction for the land, the period of time that elapsed between the specified transaction and the entry transaction occurring; and\n\n(d) if a specified transaction occurred after the entry transaction for the land but before the non-standard transaction that is being assessed, the duty that was paid on the specified transaction; and\n\n(e) any other matter that the Commissioner considers relevant.\n\n***further interest*** has the same meaning as it has in section 69AP;\n\n***specified transaction***, in relation to land,  means—\n\n(a) the granting, transfer, assignment or surrender of a lease of a kind referred to in section 7(1)(b)(v) or (va) over the land; or\n\n(b) a dutiable transaction relating to dutiable property referred to in section 10(1)(ad) located on the land; or\n\n(c) the acquisition of an economic entitlement in relation to the land; or\n\n(d) a relevant acquisition in a landholder, the land holdings of which were comprised wholly or partly of—\n\n(i) a lease of a kind referred to in section 7(1)(b)(v) or (va) over the land; or\n\n(ii) an interest in dutiable property referred to in section 10(1)(ad) located on the land; or\n\n(iii) an interest in the land that is taken to be beneficially owned under section 32XD.\n\nS. 69AQB inserted by No. 50/2024 s. 8.\n\n\t69AQB Exemption—dutiable goods  \n\nNo duty is chargeable under this Chapter on a dutiable transaction to the extent that—\n\n(a) the dutiable property to which the dutiable transaction relates is goods described in section 10(1)(d); and\n\n(b) the goods are the subject of an arrangement that includes a tax reform scheme transaction; and\n\n(c) the tax reform scheme transaction is exempt from duty under this Division.\n\nS. 69AQC inserted by No. 24/2025 s. 10.\n\n\t69AQC Application of Division to subdivided tax reform scheme land\n\n(1) For the purposes of this Division, if tax reform scheme land is a lot (a ***child lot***) in a registered plan of subdivision of tax reform scheme land (the ***parent lot***)—\n\n(a) the child lot is taken to have an entry interest of the same quantum as the entry interest for the parent lot; and\n\n(b) if a further interest was acquired in the parent lot, the child lot is taken to have been the subject of the acquisition of a further interest of the same quantum as the further interest in the parent lot; and\n\n(c) the entry interest and any further interest in the child lot is taken—\n\n(i) to have been subject to the same duty consequences as the entry interest or further interest in the parent lot; and\n\n(ii) to otherwise have the same characteristics, as far as practicable, as the entry interest or further interest in the parent lot.\n\n***further interest*** has the same meaning as in section 69AP;\n\n1. Person A acquires a 100% interest in land under a transfer of land. This is a qualifying interest in the land and the dutiable transaction is an entry transaction. Person A registers a plan of subdivision to subdivide the land (the ***parent lot***) into 4 lots (the ***child lots***). Person B acquires the child lots under 4 transfers of land. No duty is chargeable on these tax reform scheme transactions under section 69AP on the basis that the entry interest for each child lot is taken to be a 100% interest.\n\n2. Person A acquires a 50% interest in land under a transfer of land which occurs on 1 January 2026. This is a qualifying interest in the land and the dutiable transaction is an entry transaction. Person B is the beneficial owner of the remaining 50% interest in the land. Person A and Person B register a plan of subdivision to subdivide the land (the ***parent lot***) into 2 lots (the ***child lots***). On 1 July 2027, Person C purchases a 50% interest in each child lot from Person B. Duty is chargeable on these tax reform scheme transactions as the entry interest for each child lot is taken to have the same quantum (50%), characteristics (acquired by Person A) and duty consequences as the entry interest for the parent lot, and the interest acquired by Person C is not the same, nor substantially the same, as the entry interest for each child lot.\n\nS. 69AR inserted by No. 16/2024 s. 37.\n\n\t69AR Liability for duty if change of land use after tax reform scheme land exemption\n\nS. 69AR(1) amended by No. 50/2024 s. 9(1)(a).\n\n(1) A tax reform scheme transaction relating to tax reform scheme land is chargeable with duty in accordance with this section if—\n\nS. 69AR(1)(a) amended by No. 50/2024 s. 9(1)(a)(b).\n\n(a) an exemption from duty or a partial exemption from duty applied to the tax reform scheme transaction under section 69AO, 69AP, 69AQ, 69AQA or 69AQB; and\n\nS. 69AR(1)(b) amended by No. 50/2024 s. 9(1)(a).\n\n(b) after the tax reform scheme transaction, there is a change of use of the tax reform scheme land; and\n\n(c) as a result of the change of use, the land no longer has a qualifying use; and\n\nS. 69AR(1)(d) amended by No. 50/2024 s. 9(1)(a), substituted by No. 50/2024 s. 9(1)(c).\n\n(d) when the change of use occurs—\n\n(i) in the case of a standard transaction, the transferee under the standard transaction continues to hold an interest in the tax reform scheme land; or\n\n(ii) in the case of a non-standard transaction that is the grant of a lease referred to in section 7(1)(b)(v) or the assignment or transfer of a lease referred to in section 7(1)(b)(va), the lessee continues to lease the tax reform scheme land or part of the tax reform scheme land; or\n\n(iii) in the case of a non-standard transaction that is the surrender of a lease of a kind referred to in section 7(1)(b)(v) or (va), the person to whom the lease is surrendered continues to hold an interest in the tax reform scheme land or part of the tax reform scheme land; or\n\n(iv) in the case of a non-standard transaction that relates to dutiable property referred to in section 10(1)(ad) located on tax reform scheme land, the transferee continues to hold an interest in the dutiable property; or\n\n(v) in the case of a non-standard transaction that is the acquisition of an economic entitlement, the arrangement under which the economic entitlement was obtained is still in effect and the person who acquired the economic entitlement continues to be a party to the arrangement.\n\nS. 69AR(2) amended by No. 50/2024 s. 9(2).\n\n(2) Duty is payable on the tax reform scheme transaction to the extent that the tax reform scheme transaction relates to the estate, interest or right described in subsection (1)(d)(i), (ii), (iii) or (iv) (as the case requires).\n\nS. 69AR(3) amended by No. 50/2024 s. 9(3).\n\n(3) The Commissioner must assess the tax reform scheme transaction at the rate set out in section 28(1), subject to any exemption or concession under this Chapter other than an exemption under section 69AO, 69AP, 69AQ, 69AQA or 69AQB.\n\n(4) The amount of duty calculated under subsection (3) is to be reduced by 10% for each calendar year that has elapsed since the date of the dutiable transaction that is being assessed for duty.\n\n(5) A liability for duty imposed under this section arises on the date of the change of use.\n\nSection 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.\n\nS. 69AS inserted by No. 16/2024 s. 37.\n\n\t69AS Apportionment of duty imposed on change of land use if land has been subdivided\n\n(1) This section applies for the purposes of a calculation of duty imposed on a dutiable transaction under section 69AR if a plan of subdivision of land is registered in respect of the land referred to in that section (the ***parent lot***) before the date of the change of use of the land.\n\n(2) The duty chargeable on the dutiable transaction under section 69AR is to be apportioned to each lot that has had a change of use by reference to the area that lot bears to the parent lot.\n\nS. 69AT inserted by No. 16/2024 s. 37.\n\n\t69AT Duty imposed on change of land use if land has been consolidated\n\nFor the purposes of the calculation of duty chargeable under section 69AR, it does not matter whether the dutiable property the subject of the dutiable transaction has been consolidated with other dutiable property in the period between the date of the dutiable transaction and the change of use.\n\nCh. 2 Pt 6 (Heading and ss 69A–69D) inserted by No. 46/2004 s. 11.\n\n","sortOrder":191},{"sectionNumber":"Part 6","sectionType":"part","heading":"Tax avoidance schemes","content":"Part 6—Tax avoidance schemes\n\nS. 69A inserted by No. 46/2004 s. 11.\n\n","sortOrder":192},{"sectionNumber":"69A","sectionType":"section","heading":"Imposition of duty","content":"\t69A Imposition of duty\n\n(1) This Part imposes duty on a transaction in respect of which duty would have been chargeable under this Chapter but for a tax avoidance scheme.\n\n(2) Duty is payable at the time it would have been payable but for the tax avoidance scheme.\n\nS. 69B inserted by No. 46/2004 s. 11.\n\n","sortOrder":193},{"sectionNumber":"69B","sectionType":"section","heading":"What is a tax avoidance scheme?","content":"\t69B What is a tax avoidance scheme?\n\n(1) For the purposes of this Part, a ***tax avoidance scheme*** is a scheme that directly or indirectly—\n\n(a) has tax avoidance as its purpose or effect; or\n\n(b) has tax avoidance as one of its purposes or effects, if the purpose or effect of tax avoidance is not merely incidental to another purpose or effect of the scheme—\n\nwhether the scheme had that effect at the time that it was entered into, or only subsequently.\n\nS. 69B(1A) inserted by No. 16/2024 s. 38.\n\n(1A) To avoid doubt, a tax avoidance scheme includes a scheme under which an entry transaction is entered into in respect of land for the purpose of tax avoidance on subsequent dutiable transactions in respect of the land.\n\n***scheme*** includes the whole or any part of—\n\n(a) a contract, agreement, arrangement, understanding, promise or undertaking (including all steps and transactions by which it is carried into effect)—\n\n(i) whether made or entered into orally or in writing;\n\n(ii) whether express or implied;\n\n(iii) whether or not enforceable;\n\n(b) a plan, proposal, action, course of action or course of conduct, whether or not unilateral;\n\n(c) a trust;\n\n***tax avoidance*** means—\n\n(a) an elimination or reduction in the liability of a person for duty under this Chapter;\n\n(b) a postponement in the liability of a person to pay duty under this Chapter.\n\nS. 69C inserted by No. 46/2004 s. 11.\n\n","sortOrder":194},{"sectionNumber":"69C","sectionType":"section","heading":"Anti-avoidance provision","content":"\t69C Anti-avoidance provision\n\n(1) If the Commissioner considers that a person has participated in a tax avoidance scheme, the Commissioner may—\n\n(a) disregard the scheme; and\n\n(b) determine what duty would have been payable under this Chapter but for the scheme; and\n\n(c) make an assessment or reassessment under the **Taxation Administration Act 1997** of the tax liability of the person or any other person to give effect to that determination.\n\nS. 69C(2) amended by No. 69/2011 s. 11.\n\n(2) A tax default occurs for the purposes of the **Taxation Administration Act 1997**  if the whole of any duty assessed or reassessed in accordance with subsection (1)(c) is not paid to the Commissioner within 30 days after liability for the duty arose.\n\nS. 69D inserted by No. 46/2004 s. 11.\n\n","sortOrder":195},{"sectionNumber":"69D","sectionType":"section","heading":"Misleading information","content":"\t69D Misleading information\n\nS. 69D(1) amended by No. 71/2004 s. 18(1)(a).\n\n(1) This section applies to a person (other than the Registrar of Titles) who is employed or concerned in—\n\n(a) the preparation of an instrument that effects or evidences a dutiable transaction; or\n\nS. 69D(1)(ab) inserted by No. 71/2004 s. 18(1)(b).\n\n(ab) the entry of data for the purposes of electronically effecting in accordance with the **Electronic Transactions (Victoria) Act 2000** a dutiable transaction; or\n\n(b) the provision of any advice regarding the form of a dutiable transaction.\n\nS. 69D(2) amended by Nos 71/2004 s. 18(2), 13/2013 s. 56(3), substituted by No. 28/2017 s. 39.\n\n(2) The person must not, without reasonable excuse, in the instrument or in any material or data presented to the Commissioner—\n\n(a) omit from, or fail to include, any fact or circumstance affecting the liability of any person for duty under this Chapter; or\n\n(b) give information about any fact or circumstance affecting the liability of any person for duty under this Chapter that is false or misleading in a material particular.\n\nChapter 3—Certain transactions treated as transfers[[2]](#endnote-3)\n\nCh. 3 Pt 1 (Heading and s. 70) amended by No. 46/2004 ss 12, 14, substituted by No. 38/2012 s. 5.\n\nS. 70 amended by No. 26/2015 s. 22(1)(ILA s. 39B(1)).\n\n","sortOrder":196},{"sectionNumber":"70","sectionType":"section","heading":"Imposition of duty","content":"\t70 Imposition of duty\n\n(1) This Chapter charges duty at the same rate as for a transfer of dutiable property under Chapter 2 on certain acquisitions of interests in landholders.\n\nS. 70(2) inserted by No. 26/2015 s. 22(1), amended by No. 22/2018 s. 6.\n\n(2) In the case of a foreign purchaser, in respect of an acquisition of an interest in a landholder that holds a land-related interest in residential property, the duty chargeable is the duty determined at the same rates as for a dutiable transaction under which a land-related interest in residential property is transferred to a foreign purchaser under Chapter 2.\n\nNote to s. 70 amended by No. 26/2015 s. 22(2).\n\nDuty is chargeable under Part 2 on the acquisition by a person of certain interests in private landholders and public landholders that have land holdings in Victoria with an unencumbered value of $1 million or more.\n\nThe duty is chargeable at the general rate for a dutiable transaction under Chapter 2, and in relation to foreign purchasers, also at the rate set out in section 28A in Chapter 2.\n\nDuty was chargeable under Parts 3 and 4 on certain transactions occurring before 1 July 2002.\n\nDuty is charged under Part 5 on the allotment of units or shares that confer a land use entitlement.\n\nCh. 3 Pt 2 (Headings and ss 71–89) amended by Nos 44/2001 s. 3(Sch. item 32.4), 46/2001 s. 9, 58/2003 s. 13, substituted as Ch. 3 Pt 2 (Headings and ss 71–89S) by No. 46/2004 s. 12, amended by Nos 36/2005 ss 13–15, 85/2005  \nss 5–10, 33/2007  \nss 4–6, 28/2011 ss 22, 23, 69/2011 ss 12–17, substituted as Ch. 3 Pt 2 (Headings and ss 71–89Y) by No. 38/2012 s. 5.\n\nPart 2—Acquisition of interests in certain landholders\n\nDivision 1—Landholders\n\nS. 71 substituted by No. 38/2012 s. 5.\n\n","sortOrder":197},{"sectionNumber":"71","sectionType":"section","heading":"Meaning of *landholder*","content":"\t71 Meaning of *landholder*\n\n(1) For the purposes of this Part, a ***landholder***  is any of the following that has land holdings in Victoria with a total unencumbered value of $1 000 000 or more—\n\n(a) a private unit trust scheme;\n\n(b) a private company;\n\n(c) a wholesale unit trust scheme;\n\n(d) a listed company;\n\n(e) a public unit trust scheme.\n\n(2) For the purposes of this Part, a landholder may hold land—\n\n(a) in accordance with section 72;\n\n(b) under an uncompleted agreement in accordance with section 74;\n\n(c) through a linked entity in accordance with section 75;\n\n(d) through a discretionary trust in accordance with section 76.\n\n(3) A ***private landholder*** is a landholder that is a private unit trust scheme, private company or wholesale unit trust scheme.\n\n(4) A ***public landholder*** is a landholder that is a listed company or a public unit trust scheme.\n\nS. 71(5) inserted by No. 28/2017 s. 43.\n\n(5) A landholder that is a private company is taken to be a listed company or a landholder that is a private unit trust scheme is taken to be a public unit trust scheme for the purposes of this Part if—\n\n(a) all the shares in the company or units in the unit trust scheme are quoted on an exchange that was previously a member of the World Federation of Exchanges; and\n\n(b) all the shares in the company or units in the unit trust scheme have been quoted on the exchange referred to in paragraph (a) for a period of 12 months or more; and\n\n(c) the Commissioner is satisfied it is appropriate for the landholder to be treated as a listed company or public unit trust scheme.\n\nS. 72 substituted by No. 38/2012 s. 5.\n\n","sortOrder":198},{"sectionNumber":"72","sectionType":"section","heading":"What are land holdings?","content":"\t72 What are land holdings?\n\nS. 72(1) substituted by No. 17/2019 s. 11.\n\n(1) For the purposes of this Part, a ***land holding*** is—\n\n(a) an interest in land other than the estate or interest of a mortgagee, chargee, or other secured creditor or a profit à prendre; or\n\n(b) dutiable property referred to in section 10(1)(ad); or\n\n(c) an interest in relevant land taken to be beneficially owned under section 32XD.\n\n(2) An interest in land, however—\n\n(a) is not a land holding of a unit trust scheme unless the interest is held by—\n\n(i) a trustee of the scheme in the capacity of trustee; or\n\n(ii) a custodian or other agent in the capacity as custodian or agent of the trustee of the scheme; and\n\n(b) is not a land holding of a company unless the interest of the company in the land is a beneficial interest.\n\n(3) This section is in aid of, but does not limit, the operation of any provision of this Part providing for constructive ownership of interests in land.\n\nS. 72A inserted by No. 17/2019 s. 12.\n\n","sortOrder":199},{"sectionNumber":"72A","sectionType":"section","heading":"Land holdings of unit trust schemes where section 32XD applies","content":"\t72A Land holdings of unit trust schemes where section 32XD applies\n\n(1) A land holding that is taken to be beneficially owned by a trustee of a unit trust scheme under section 32XD is taken to be a land holding of the scheme if the trustee holds the interest on trust in the capacity as trustee of the scheme.\n\n(2) A land holding that is taken to be beneficially owned by a custodian or other agent of a trustee of a unit trust scheme under section 32XD is taken to be a land holding of the scheme if the custodian or other agent holds the interest as a custodian or agent of the trustee of the scheme.\n\nS. 73 substituted by No. 38/2012 s. 5.\n\n","sortOrder":200},{"sectionNumber":"73","sectionType":"section","heading":"What does land include?","content":"\t73 What does land include?\n\n(1) For the purposes of this Part, ***land*** includes anything fixed to the land, whether or not the item—\n\n(a) constitutes a fixture at law; or\n\n(b) is owned separately from the land; or\n\n(c) is notionally severed or considered to be legally separate to the land as a result of the operation of any other Act or law.\n\n(2) For the purposes of subsection (1), a thing can be fixed to land by a physical connection to the land.\n\n(3) For the avoidance of doubt, land includes tenant's fixtures within the meaning of section 22A.\n\n(4) Despite anything in subsection (1), (2) or (3), land does not include goods that are excluded under section 10(1)(d) from the definition of ***dutiable property***.\n\n(5) Despite subsection (1)(b) or (c), the Commissioner may determine that land does not include a thing fixed to land if—\n\n(a) the thing is owned by a person who is not the person who owns the land or an associated person of the person who owns the land; and\n\n(b) the thing is not used in connection with the land.\n\nS. 74 substituted by No. 38/2012 s. 5.\n\n","sortOrder":201},{"sectionNumber":"74","sectionType":"section","heading":"Effect of uncompleted agreements","content":"\t74 Effect of uncompleted agreements\n\n(1) For the purposes of this Part, the vendor and purchaser under an uncompleted agreement for the sale of land are taken to be separately entitled to the whole of the land.\n\n(2) For the purposes of this Part—\n\n(a) a reference to a vendor includes a reference to a person who, at the time of a relevant acquisition, was the grantee of a put option or grantor of a call option;\n\n(b) a reference to a purchaser includes a reference to a person who, at the time of a relevant acquisition—\n\n(ii) was the grantor of a put option or grantee of a call option;\n\n(c) a reference to an uncompleted agreement includes a reference to an arrangement that includes both a put option and a call option.\n\nS. 75 substituted by No. 38/2012 s. 5.\n\n","sortOrder":202},{"sectionNumber":"75","sectionType":"section","heading":"Constructive ownership of land holdings—linked entities","content":"\t75 Constructive ownership of land holdings—linked entities\n\n(1) For the purposes of this Part, a landholder holds land if the landholder is taken under this section to be entitled to land through a linked entity.\n\n(2) Land held because of subsection (1) is in addition to land (if any) that the landholder holds in its own right.\n\n(3) The interest the landholder is taken under this section to hold in land referred to in subsection (1) is the proportion of the land held by a linked entity equivalent to the proportion of the property of the linked entity that the landholder would be entitled to receive if all linked entities were to be wound up as provided in subsection (4).\n\n(4) A landholder is taken to be entitled to land through linked entities, whether linked to the landholder or to other entities linked to the landholder or to each other, if, on the winding up of all linked entities and without having regard to any liabilities of the linked entities, the landholder would receive a distribution of any of the property held by any of the linked entities.\n\n(5) However, land of linked entities is not counted for the purposes of this Part unless at least 20% of the land would be received by the landholder ultimately from linked entities as provided by subsection (4).\n\n(6) The value, for duty purposes, of the interest in land that a landholder is taken to hold through a linked entity under this section is the portion of the unencumbered value of the land of the linked entity which is equivalent to the portion of the unencumbered value of the property of the linked entity to which the landholder would be entitled (without regard to any liabilities of the linked entities) if each linked entity were to be wound up.\n\n***linked entity*** means any person or body, corporate or unincorporated, that may hold property in its own right or for the benefit of any person, and includes a trust but does not include a natural person;\n\n***person*** includes a landholder and a linked entity;\n\n***winding up*** of a linked entity includes any means by which the entity's property is divested in favour of the persons entitled to it and, in the case of a linked entity that is a trust, includes the vesting of the trust property in the beneficiaries.\n\nS. 76 substituted by No. 38/2012 s. 5.\n\n","sortOrder":203},{"sectionNumber":"76","sectionType":"section","heading":"Constructive ownership of land holdings—discretionary trusts","content":"\t76 Constructive ownership of land holdings—discretionary trusts\n\n(1) A person or a member of a class of persons in whose favour, by the terms of a discretionary trust, capital the subject of the trust may be applied—\n\n(a) in the event of the exercise of a power or discretion in favour of the person or class; or\n\n(b) in the event that a discretion conferred under the trust is not exercised—\n\nis, for the purposes of this section, a ***beneficiary*** of the trust.\n\n(2) A beneficiary of a discretionary trust is taken to own or to be otherwise entitled to land the subject of the trust, except to the extent (if any) determined by the Commissioner.\n\n(3) For the purposes of this Part, any land that is the subject of a discretionary trust is taken to be the subject of any other discretionary trust—\n\n(a) that is; or\n\n(b) any trustee of which (in the capacity of trustee) is—\n\na beneficiary of it.\n\n(4) Subsection (3) extends to apply to land that is the subject of a discretionary trust only by the operation of that subsection.\n\n(5) Nothing in this section applies so that a person is taken to own or be entitled to more than 100% of the land the subject of a trust.\n\n***person*** includes a landholder and a linked entity.\n\n***Discretionary trust*** is defined in section 3(1).\n\nDivision 2—Charging of duty\n\nS. 77 substituted by No. 38/2012 s. 5.\n\n","sortOrder":204},{"sectionNumber":"77","sectionType":"section","heading":"When does a liability for duty arise?","content":"\t77 When does a liability for duty arise?\n\nA liability for duty charged by this Part arises when a relevant acquisition is made.\n\nS. 78 substituted by No. 38/2012 s. 5.\n\n","sortOrder":205},{"sectionNumber":"78","sectionType":"section","heading":"What is a *relevant acquisition*?","content":"\t78 What is a *relevant acquisition*?\n\n(1) For the purposes of this Part, a person makes a ***relevant acquisition*** if—\n\n(a) the person acquires an interest in a landholder—\n\n(i) that is of itself a significant interest in the landholder; or\n\n(ii) that amounts to a significant interest in the landholder when aggregated with other interests in the landholder acquired by all or any of the following—\n\n(A) the person; or\n\n(B) an associated person; or\n\n(C) any other person in an associated transaction; or\n\nS. 78(1)(b) amended by No. 26/2015 s. 5.\n\n(b) after an interest referred to in paragraph (a) was acquired, the person referred to in paragraph (a) or an associated person or any other person whose interest was aggregated with the interest under paragraph (a)(ii), acquires a further interest in the landholder.\n\n***Associated person***  and  ***associated transaction***  are defined in section 3(1).\n\n(2) For the purposes of subsection (1)(a)(ii) or (b), a person is not an associated person of another person if the Commissioner is satisfied that the interests of the persons—\n\n(a) were acquired, and will be used, independently; and\n\n(b) were not acquired, and will not be used, for a common purpose.\n\n(3) Subsection (2) does not apply if the persons are associated persons because they are related bodies corporate.\n\nS. 78(4) amended by No. 41/2013 s. 21.\n\n(4) For the purposes of this Part, persons in their capacity as qualified investors of a wholesale unit trust scheme are taken not to be associated persons of other qualified investors in relation to the acquisition or holding of interests in the scheme.\n\n(5) An interest in a landholder is not counted for the purposes of this section if—\n\n(a) the interest was acquired before 15 November 1987; or\n\n(b) the interest was acquired at a time when the landholder did not hold land in Victoria.\n\nS. 79 substituted by No. 38/2012 s. 5.\n\n","sortOrder":206},{"sectionNumber":"79","sectionType":"section","heading":"What are *interests* and *significant interests* in landholders?","content":"\t79 What are *interests* and *significant interests* in landholders?\n\n(1) A person has an ***interest*** in a landholder if the person has an entitlement (otherwise than as a creditor or other person to whom the landholder is liable), whether directly or through another person, to a distribution of property from the landholder on a winding up of the landholder.\n\n(2) A person who, by virtue of subsection (1), has an interest in a landholder has a ***significant interest*** in the landholder if the person, in the event of a distribution of all the property of the landholder immediately after the interest was acquired, would be entitled to—\n\n(a) in the case of a landholder that is a private unit trust scheme—20% or more of the property distributed; or\n\n(b) in the case of a landholder that is a private company or wholesale unit trust scheme—50% or more of the property distributed; or\n\n(c) in the case of a landholder that is a listed company or public unit trust scheme—90% or more of the property distributed.\n\nNote to s. 79(2) inserted by No. 47/2020 s. 12.\n\nFor 3 years following a corporate consolidation, in certain circumstances a landholder that is not a private unit trust scheme is taken to be a private unit trust scheme in determining if a person makes a relevant acquisition—see section 250DG.\n\n***person*** includes a landholder;\n\n***winding up*** of a landholder that is a unit trust scheme means the vesting of the trust property in the beneficiaries.\n\nSection 89H is relevant to ascertaining a person's entitlements on a distribution of property.\n\nS. 80 substituted by No. 38/2012 s. 5.\n\n","sortOrder":207},{"sectionNumber":"80","sectionType":"section","heading":"How may an interest be *acquired*?","content":"\t80 How may an interest be *acquired*?\n\n(1) A person acquires an interest in a landholder if the person obtains an interest beneficially, including if the person's interest increases, in the landholder, regardless of how it is obtained or increased.\n\n(2) Without limiting subsection (1), a person may acquire an interest in a landholder in the following ways—\n\n(a) the purchase, gift, allotment or issue of a unit or share;\n\n(b) the cancellation, redemption or surrender of a unit or share;\n\n(c) the abrogation or alteration of a right pertaining to a unit or share;\n\n(d) the payment of an amount owing for a unit or share.\n\n(3) Without limiting subsection (1), a person is taken to obtain an interest beneficially if the person obtains the interest as trustee of a trust.\n\n(4) A trustee who holds or acquires an interest in a landholder is to be treated as a separate person in respect of each trust of which the trustee is a trustee and the personal capacity of the trustee, if any.\n\n(5) In addition to subsection (1), a person who holds an interest in a landholder acquires an interest in the landholder if the capacity in which the person holds the interest changes.\n\n(6) An acquisition of an interest referred to in subsection (5) is to be treated as a separate acquisition from existing interests held by the acquirer or any other acquisition of an interest in a landholder unless those acquisitions are made on behalf of the same person or associated persons.\n\n(7) For the avoidance of doubt, an acquisition by way of transfer of units or shares is not necessary to acquire an interest in a landholder.\n\nS. 81 (Heading) amended by No. 17/2019 s. 13(1).\n\nS. 81 substituted by No. 38/2012 s. 5.\n\n","sortOrder":208},{"sectionNumber":"81","sectionType":"section","heading":"Acquisition of economic entitlement in relation to private landholder","content":"\t81 Acquisition of economic entitlement in relation to private landholder\n\n(1) Despite anything to the contrary in this Part, this section applies if a person acquires, either alone or together with an associated person, directly or indirectly, an economic entitlement, other than by a relevant acquisition dutiable under this Part.\n\n(2) For the purposes of this section, a person acquires an ***economic entitlement*** if the person acquires shares or units in a private landholder or enters an arrangement in relation to a private landholder under which the person is entitled to all or any of the following—\n\n(a) to participate in the dividends or income of the private landholder;\n\nS. 81(2)(b)–(d) repealed by No. 17/2019 s. 13(2)(a).\n\nS. 81(2)(e) amended by No. 17/2019 s. 13(2)(b).\n\n(e) to receive any amount determined by reference to paragraph (a);\n\nS. 81(2)(f) amended by No. 17/2019 s. 13(2)(c).\n\n(f) to acquire any entitlement described in paragraph (a) or (e).\n\nS. 81(3) substituted by No. 17/2019 s. 13(3).\n\n(3) The interest acquired under an economic entitlement is the proportion of the total dividends or income of the private landholder that the person is entitled to receive or acquire under the economic entitlement.\n\nS. 81(4) repealed by No. 17/2019 s. 13(3).\n\nS. 81(5) amended by No. 41/2013 s. 22.\n\n(5) If—\n\n(a) an economic entitlement acquired by the person, either alone or together with an associated person; or\n\n(b) the total economic entitlements acquired by the person, either alone or together with an associated person,  within a 3 year period—\n\namounts or amount to an interest of 50% or more, the person is taken, for the purposes of this Part, to have made a relevant acquisition of—\n\n(c) that percentage interest in the landholder; or\n\n(d) a lesser percentage interest in the landholder determined by the Commissioner to be appropriate in the circumstances.\n\n(6) The duty chargeable on the relevant acquisition is calculated in accordance with section 86(1), as if—\n\n(a) in the case of subsection (5)(b), all acquisitions of economic entitlements by the person or an associated person (or both) within the 3 year period were a single acquisition; and\n\n(b) a reference to all land holdings of the landholder in Victoria were a reference to the land holdings of the private landholder to which the economic entitlement relates.\n\n(7) For the avoidance of doubt, a person may acquire an economic entitlement by any means, including, but not limited to, the creation of the economic entitlement or the transfer of the economic entitlement to the person.\n\n(8) This section applies regardless of interests held by any other person in the private landholder.\n\nS. 82 substituted by No. 38/2012 s. 5.\n\n","sortOrder":209},{"sectionNumber":"82","sectionType":"section","heading":"Acquisition of control","content":"\t82 Acquisition of control\n\n(1) Despite anything to the contrary in this Part, if a person within a 3 year period acquires, directly or indirectly, control over a private landholder, other than by a relevant acquisition dutiable under this Part, then, on the acquiring of that control, the person is taken, for the purposes of this Part, to have made a relevant acquisition in the landholder of—\n\n(a) 100%; or\n\n(b) a lesser percentage determined by the Commissioner to be appropriate in the circumstances.\n\n(2) For the purposes of subsection (1), a person acquires control over a private landholder if the person acquires the capacity to determine or influence the outcome of decisions about the private landholder's financial and operating policies, taking into account—\n\n(b) any practice or behaviour affecting the private landholder's financial or operating policies (even if that practice or pattern of behaviour involves the breach of an agreement or a breach of trust).\n\n(3) Subsection (1) applies regardless of interests or economic entitlements held by any other person in the private landholder.\n\nS. 83 substituted by No. 38/2012 s. 5.\n\n","sortOrder":210},{"sectionNumber":"83","sectionType":"section","heading":"Acquisition statements","content":"\t83 Acquisition statements\n\n(1) If a relevant acquisition is made, either or both the person who made the acquisition and the landholder (or, if the landholder is a unit trust scheme, the trustee of the landholder) must prepare a statement (an ***acquisition statement***) and lodge it with the Commissioner within 30 days after the date of the relevant acquisition.\n\n(2) The acquisition statement is to be prepared in an approved form and must contain the following information—\n\n(a) the name and address of the person who has acquired the interest;\n\n(b) in relation to each interest acquired, the date on which it was acquired and whether it is an exempt acquisition within the meaning of section 89D;\n\n(c) if the relevant acquisition results from the aggregation of the interests of associated persons, particulars of all the interests acquired by the person and any associated persons;\n\n(d) if the relevant acquisition results from the aggregation of the interests of persons who acquired interests in associated transactions, particulars of the interests acquired by the person and all other persons involved;\n\n(e) particulars of the total interest acquired in the landholder by the person, any associated person or any other person in an associated transaction, as at the date of the relevant acquisition;\n\n(f) the unencumbered value of all land holdings in Victoria of the landholder as at the date of the relevant acquisition;\n\n(g) any other information the Commissioner may require.\n\nIn ascertaining whether or not a liability to lodge a statement under this section exists, it is necessary to have regard to provisions of this Part that deal with—\n\n• acquisitions generally (section 80); and\n\n• acquisitions that are exempt from the operation of this Part (section 89D).\n\nThere is joint and several liability for the duty as between the person lodging the acquisition statement and others—see section 85.\n\nS. 84 substituted by No. 38/2012 s. 5.\n\n","sortOrder":211},{"sectionNumber":"84","sectionType":"section","heading":"When must duty be paid?","content":"\t84 When must duty be paid?\n\nA tax default does not occur for the purposes of the **Taxation Administration Act 1997**  if duty is paid within 30 days after the liability to pay the duty arises.\n\nS. 85 substituted by No. 38/2012 s. 5.\n\n","sortOrder":212},{"sectionNumber":"85","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t85 Who is liable to pay the duty?\n\n(1) The following are jointly and severally liable to pay duty chargeable under this Part—\n\n(a) the person who makes the relevant acquisition; and\n\n(b) the landholder or, if the landholder is a unit trust scheme, the trustee of the landholder; and\n\n(c) if the relevant acquisition results from an aggregation of the interests of the person referred to in paragraph (a) and other persons—each of those other persons.\n\n(2) A person, other than a person referred to in subsection (1)(c), may recover as a debt from the person who made the relevant acquisition or a person referred to in subsection (1)(c) the amount of any duty chargeable under this Part and any penalty paid by the first person in respect of that duty.\n\nS. 86 substituted by No. 38/2012 s. 5.\n\n","sortOrder":213},{"sectionNumber":"86","sectionType":"section","heading":"How duty is charged on relevant acquisitions in private landholders","content":"\t86 How duty is charged on relevant acquisitions in private landholders\n\n(1) Duty on a relevant acquisition in a private landholder is chargeable, at the rate specified under this Act for a transfer of dutiable property, on the amount calculated by multiplying the unencumbered value of all land holdings of the landholder in Victoria (calculated at the date of acquisition of the interest acquired) by the proportion of that value represented by the interest acquired in the relevant acquisition.\n\n(2) If a relevant acquisition results from the aggregation of the interests acquired by all or any of the following—\n\n(a) a person; or\n\n(b) an associated person; or\n\n(c) any other person in an associated transaction—\n\na reference in subsection (1) to the interest acquired includes a reference to any interest acquired by those persons on the same day.\n\n(3) If the relevant acquisition is the acquisition of an interest by a person that amounts to a significant interest in the landholder when aggregated with other interests acquired by all or any of the following—\n\n(a) the person; or\n\n(b) an associated person; or\n\n(c) any other person in an associated transaction—\n\nduty is chargeable at the rate specified under this Act for a transfer of dutiable property on the aggregate of the amounts separately calculated in accordance with subsection (1) in respect of—\n\n(d) the interest acquired by the person; and\n\n(e) each of the other interests that comprise the relevant acquisition that were acquired in the 3 years preceding the acquisition of the interest by the person.\n\n(4) If the relevant acquisition is the acquisition of a further interest as described in section 78(1)(b), duty is chargeable as follows—\n\n(a) first, a calculation is to be made of the duty that would be chargeable under subsection (1) if the further interest were to be added to all interests referred to in section 78(1)(a) and (b) (***the prior interests***);\n\n(b) secondly, a calculation is to be made of the duty chargeable under subsection (1) in respect of the prior interests;\n\n(c) the duty chargeable on the acquisition of the further interest is the amount calculated under paragraph (a) less the amount calculated under paragraph (b).\n\nS. 86(5) amended by No. 16/2024 s. 39.\n\n(5) This section is subject to Divisions 3, 3A and 4 and sections 89B, 89C and 89X*.*\n\nS. 87 substituted by No. 38/2012 s. 5.\n\n","sortOrder":214},{"sectionNumber":"87","sectionType":"section","heading":"How duty is charged on relevant acquisitions in public landholders—concessional rate","content":"\t87 How duty is charged on relevant acquisitions in public landholders—concessional rate\n\n(1) Subject to section 88, duty chargeable on a relevant acquisition in a public landholder is 10% of the duty that would be chargeable, at the rate specified under this Act for a transfer of dutiable property, on a transfer of all the land holdings of the landholder in Victoria (calculated on the unencumbered value of the land holdings at the date of acquisition of the interest acquired).\n\n(2) Subsection (1) applies whether or not the acquisition amounts to a 100% interest in the landholder.\n\n(3) If duty is chargeable in respect of a relevant acquisition by a person in a public landholder, no duty is chargeable in respect of any further interest acquired by that person in that landholder.\n\nS. 87(3A) inserted by No. 26/2015 s. 23.\n\n(3A) Subsection (1) does not apply when determining the duty chargeable at the rate set out in section 28A.\n\nS. 87(3B) inserted by No. 38/2023 s. 11.\n\n(3B) Subsection (1) does not apply to a relevant acquisition in a public landholder that is also—\n\n(a) an eligible transaction to which section 250B applies; or\n\n(b) a relevant acquisition to which section 250DI applies.\n\nS. 87(4) amended by No. 16/2024 s. 40.\n\n(4) This section is subject to Divisions 3, 3A and 4 and sections 89B, 89C and 89X*.*\n\nS. 88 substituted by No. 38/2012 s. 5.\n\n","sortOrder":215},{"sectionNumber":"88","sectionType":"section","heading":"How duty is charged on relevant acquisitions in public landholders—non‑concessional rate","content":"\t88 How duty is charged on relevant acquisitions in public landholders—non‑concessional rate\n\nDuty on a relevant acquisition in a public landholder is chargeable in accordance with section 86, as if the relevant acquisition were in a private landholder, if the landholder—\n\n(a) in the case of a listed company or listed trust, has been listed for less than 12 months at the date of the relevant acquisition; or\n\n(b) in the case of a registered declared public unit trust scheme, has been registered under section 89R for less than 12 months at the date of the relevant acquisition; or\n\n(c) in the case of a widely held trust, has satisfied  the definition of that term for less than 12 months at the date of the relevant acquisition.\n\nS. 89 substituted by No. 38/2012 s. 5.\n\n","sortOrder":216},{"sectionNumber":"89","sectionType":"section","heading":"Phasing-in of duty","content":"\t89 Phasing-in of duty\n\nIf the unencumbered value of land holdings in Victoria of a landholder exceeds $1 000 000 but does not exceed $2 000 000, the duty chargeable under this Part is to be calculated in accordance with the following formula—\n\nA is the unencumbered value of the land holdings in Victoria of the landholder at the time the relevant acquisition was made; and\n\nB is the duty that, apart from this section, would be chargeable under this Part.\n\nS. 89A substituted by No. 38/2012 s. 5.\n\n","sortOrder":217},{"sectionNumber":"89A","sectionType":"section","heading":"Reduction in marketable securities duty","content":"\t89A Reduction in marketable securities duty\n\nDuty payable under this Part is to be reduced by an amount (if any) calculated in accordance with the following formula—\n\nA is the unencumbered value of the land holdings in Victoria of the landholder at the time the relevant acquisition was made; and\n\nB is the unencumbered value of all property of the landholder at that time; and\n\nC is the sum of—\n\n(a) the duty under this Act paid or payable at the rate applicable to transactions involving marketable securities, in respect of—\n\n(i) a dutiable transaction in relation to the units or shares; or\n\n(ii) a capital reduction or a rights alteration under Part 3 by which an interest in the landholder was acquired; or\n\n(iii) an allotment under Part 4 by which an interest in the landholder was acquired; and\n\n(b) any duty of a like nature paid or payable under a law of another Australian jurisdiction.\n\nS. 89B (Heading) amended by No. 17/2019 s. 4(1).\n\nS. 89B substituted by No. 38/2012 s. 5.\n\n","sortOrder":218},{"sectionNumber":"89B","sectionType":"section","heading":"Conversion of a private unit trust scheme or wholesale unit trust scheme to a public unit trust scheme","content":"\t89B Conversion of a private unit trust scheme or wholesale unit trust scheme to a public unit trust scheme\n\nS. 89B(1) amended by No. 17/2019 s. 4(2).\n\n(1) This section applies if, under an agreement or arrangement, a landholder that is a private unit trust scheme or wholesale unit trust scheme becomes, through whatever means, a public unit trust scheme.\n\n(2) All acquisitions of interests in the unit trust scheme under the agreement or arrangement are together taken to have been a relevant acquisition of 100% in the public unit trust scheme.\n\nS. 89B(3) amended by Nos 41/2013 s. 23, 17/2019 s. 4(3).\n\n(3) For the purposes of subsection (2), a relevant acquisition is taken to have been made on the date on which the private unit trust scheme or wholesale unit trust scheme became a public unit trust scheme.\n\n(4) The trustee of the public unit trust scheme must—\n\n(a) prepare an acquisition statement and lodge it with the Commissioner within 30 days after the date of the relevant acquisition; and\n\nS. 89B(4)(b) substituted by No. 22/2018 s. 7(1).\n\n(b) pay the duty chargeable (if any) on the relevant acquisition.\n\nS. 89B(4A) inserted by No. 22/2018 s. 7(2).\n\n(4A) Duty on a relevant acquisition under this section is chargeable at 10% of the duty that would be chargeable, at the rate specified under this Act for a transfer of dutiable property, on a transfer of all the land holdings of the landholder in Victoria (calculated on the unencumbered value of the land holdings at the date of the relevant acquisition).\n\nS. 89B(4B) inserted by No. 22/2018 s. 7(2).\n\n(4B) Subsection (4A) does not apply when determining the duty chargeable at the rate set out in section 28A.\n\nS. 89B(5) amended by No. 26/2015 s. 6.\n\n(5) A tax default occurs for the purposes of the **Taxation Administration Act 1997**  if the whole of any duty chargeable under subsection (4)(b) is not paid to the Commissioner by the trustee of the public unit trust scheme within 30 days after liability for the duty arose.\n\n(6) Despite anything to the contrary in Division 1 of Part 2 of Chapter 11, nothing to which this section applies is capable of being an eligible transaction for the purposes of that Division.\n\nS. 89C substituted by No. 38/2012 s. 5.\n\n","sortOrder":219},{"sectionNumber":"89C","sectionType":"section","heading":"Conversion of a private company to a listed company","content":"\t89C Conversion of a private company to a listed company\n\n(1) This section applies if, under an agreement or arrangement, a landholder that is a private company becomes, through whatever means, a listed company.\n\n(2) All acquisitions of interests in the company under the agreement or arrangement are together taken to have been a relevant acquisition of 100% in the listed company.\n\nS. 89C(3) amended by No. 41/2013 s. 24.\n\n(3) For the purposes of subsection (2), a relevant acquisition is taken to have been made on the date on which the private company became a listed company.\n\n(4) The listed company must—\n\n(a) prepare an acquisition statement and lodge it with the Commissioner within 30 days after the date of the relevant acquisition; and\n\nS. 89C(4)(b) substituted by No. 22/2018 s. 8(1).\n\n(b) pay the duty chargeable (if any) on the relevant acquisition.\n\nS. 89C(4A) inserted by No. 22/2018 s. 8(2).\n\n(4A) Duty on a relevant acquisition under this section is chargeable at 10% of the duty that would be chargeable, at the rate specified under this Act for a transfer of dutiable property, on a transfer of all the land holdings of the landholder in Victoria (calculated on the unencumbered value of the land holdings at the date of the relevant acquisition).\n\nS. 89C(4B) inserted by No. 22/2018 s. 8(2).\n\n(4B) Subsection (4A) does not apply when determining the duty chargeable at the rate set out in section 28A.\n\nS. 89C(5) amended by No. 26/2015 s. 7.\n\n(5) A tax default occurs for the purposes of the **Taxation Administration Act 1997**  if the whole of any duty chargeable under subsection (4)(b) is not paid to the Commissioner by the listed company within 30 days after liability for the duty arose.\n\n(6) Despite anything to the contrary in Division 1 of Part 2 of Chapter 11, nothing to which this section applies is capable of being an eligible transaction for the purposes of that Division.\n\nDivision 3—Exemptions and concessions\n\nS. 89D substituted by No. 38/2012 s. 5.\n\n","sortOrder":220},{"sectionNumber":"89D","sectionType":"section","heading":"Exemptions","content":"\t89D Exemptions\n\nAn acquisition by a person of an interest in a landholder is an exempt acquisition—\n\n(a) if the means by which the person acquired the interest would have resulted in no ad valorem duty being payable under Chapter 2 had the subject of the acquisition been a transfer of the land of the landholder to the person; or\n\n(b) if the interest was acquired in the person's capacity as—\n\n(i) a receiver or trustee in bankruptcy; or\n\n(ii) a liquidator; or\n\n(iii) an executor or administrator of the estate of a deceased person; or\n\n(c) if the interest was acquired solely as the result of the making of a compromise or arrangement with the landholder's creditors under Part 5.1 of the Corporations Act that has been approved by the court, not being a compromise or arrangement that the Commissioner is satisfied was made with the intention of defeating the operation of this Part; or\n\n(d) if the interest concerned is acquired solely from a pro rata increase in the interests of all unit holders or shareholders.\n\nS. 89E substituted by No. 38/2012 s. 5.\n\n","sortOrder":221},{"sectionNumber":"89E","sectionType":"section","heading":"Duty concession—anomalous duty outcome","content":"\t89E Duty concession—anomalous duty outcome\n\n(1) Subject to subsection (3), this section applies to a relevant acquisition if the Commissioner, having regard to all the facts and circumstances, is satisfied that—\n\n(a) the application of this Part results in an anomalous duty outcome; and\n\n(b) the duty payable under this Part is greater than the duty that would be payable under Chapter 2 had the subject of the relevant acquisition been a transfer of the land of the landholder to the person.\n\nS. 89E(1A) inserted by No. 17/2019 s. 33.\n\n(1A) For the purposes of subsection (1)(b), in determining the duty that would have been payable under Chapter 2, no account is to be taken of any reduction in duty under Division 5A of Part 5 of that Chapter.\n\n(2) The Commissioner may reduce the duty payable to an amount not less than the duty that would be payable under Chapter 2, had the subject of the acquisition been a transfer of the land of the landholder to the person.\n\n(3) This section does not apply to a relevant acquisition that is the acquisition of an economic entitlement under section 81 or the acquisition of control under section 82.\n\nS. 89F substituted by No. 38/2012 s. 5.\n\n","sortOrder":222},{"sectionNumber":"89F","sectionType":"section","heading":"Duty concession—acquisitions securing the provision of finance","content":"\t89F Duty concession—acquisitions securing the provision of finance\n\n(1) Except as provided by subsection (3), a relevant acquisition is not chargeable with duty if the relevant acquisition is effected solely for the purpose of securing the provision of finance and—\n\n(a) the person acquiring the interest or economic entitlement is providing finance to the person from whom the interest or economic entitlement is acquired; and\n\n(b) the Commissioner is satisfied that the relevant acquisition is effected solely for that purpose.\n\n(2) The person lodging the acquisition statement must inform the Commissioner at the time of lodgement that the acquisition is effected solely for the purpose of the provision of finance by the person acquiring the interest to the person from whom the interest or economic entitlement is acquired.\n\n(3) The acquisition is chargeable with duty at the expiration of the period of 5 years after the date of the acquisition (or such longer period as may be determined by the Commissioner in the particular case) if the interest or economic entitlement concerned is not—\n\n(a) re-acquired by the person from whom it was acquired; or\n\n(b) in the case of an acquisition by way of mortgage, conveyed by the mortgagee to a third person in exercise of the mortgagee's power of sale, within that period (or that longer period).\n\n(4) The re-acquisition by a person of the interest or economic entitlement concerned is not a relevant acquisition for the purposes of this Part.\n\nCh. 3 Pt 2 Div. 3A (Heading and ss 89FA–89FD) inserted by No. 16/2024 s. 41.\n\nDivision 3A—Tax reform scheme land\n\nS. 89FA (Heading) amended by No. 50/2024 s. 10(1).\n\nS. 89FA inserted by No. 16/2024 s. 41.\n\n\t89FA Value of certain tax reform scheme land holdings to be excluded from duty assessment\n\nS. 89FA(1) substituted by No. 50/2024 s. 10(2).\n\n(a) a relevant acquisition is made in a landholder; and\n\n(b) the land holdings of the landholder are comprised wholly or partly of an interest or estate in tax reform scheme land, other than a lease of a kind referred to in section 7(1)(b)(v) or (va); and\n\n(c) on the date of the relevant acquisition, the tax reform scheme land has a qualifying use.\n\n(2) The unencumbered value of land referred to in subsection (1) is to be excluded from any calculation under section 86 or 87 of the duty chargeable on the relevant acquisition if—\n\nS. 89FA(2)(a) substituted by No. 50/2024 s. 10(3).\n\n(a) a period of at least 3 years has elapsed between the entry date for the tax reform scheme land and the date on which a contract or other agreement or arrangement for the relevant acquisition is entered into; or\n\n(b) the entry interest for the land was a 100% interest; or\n\n(c) the entry interest and any further interest acquired before the relevant acquisition amounts to a 100% interest.\n\n(3) The unencumbered value of land referred to in subsection (1) is to be excluded from any calculation under section 86 or 87 of the duty chargeable on the relevant acquisition to the extent that the interest a person is taken to have obtained in the land under the relevant acquisition is the same or substantially the same as either or both of the following—\n\n(a) the entry interest for the land;\n\nS. 89FA(3)(b) amended by No. 24/2025 s. 12.\n\n(b) any further interest a person is taken to have obtained in the land before the relevant acquisition.\n\n(4) The Commissioner may treat the interest a person is taken to have obtained in land under a relevant acquisition as the same or substantially the same as an interest described in subsection (3) if the Commissioner is satisfied that it is appropriate to do so in the circumstances.\n\nPerson A acquires a 50% interest in a landholder under a relevant acquisition which occurs on 1 September 2025. The landholder holds a 100% interest in land. This relevant acquisition amounts to an interest of 50% in the land which is a qualifying interest and the qualifying landholder transaction is an entry transaction. Person B holds the remaining 50% interest in the landholder. On 1 January 2026, Person C acquires a 100% interest in the landholder from Person A and Person B. The value of the land holding of the landholder is to be excluded from the calculation of duty to the extent that the interest acquired by Person C is the same, or substantially the same, as the entry interest for the land (50%). The value of 50% of the land is included for the purposes of assessing duty on the relevant acquisition made by Person C.\n\n(5) In this section, the interest a person is taken to have obtained in land under a relevant acquisition is the interest the person acquires in the landholder under the relevant acquisition, and on which duty would otherwise be chargeable, multiplied by the interest the landholder holds in the land at the time the relevant acquisition is made.\n\n(6) In this section, a ***further interest*** in land means an interest that is—\n\n(a) obtained under a qualifying dutiable transaction or a qualifying landholder transaction, other than the relevant entry transaction for the land; and\n\n(b) a different interest to the entry interest for the land and any other further interest obtained in the land.\n\nS. 89FAB inserted by No. 50/2024 s. 11.\n\n\t89FAB Exclusion or partial exclusion of value of certain land holdings\n\n(a) a relevant acquisition is made in a landholder; and\n\n(b) the land holdings of the landholder are comprised wholly or partly of—\n\n(i) a lease of a kind referred to in section 7(1)(b)(v) or (va) over tax reform scheme land; or\n\n(ii) an interest in dutiable property referred to in section 10(1)(ad) located on tax reform scheme land; or\n\n(iii) an interest in tax reform scheme land that is taken to be beneficially owned under section 32XD; and\n\n(c) on the date of the relevant acquisition, the tax reform scheme land has a qualifying use.\n\n(2) The unencumbered value of a land holding referred to in subsection (1)(b) is to be excluded from the calculation under section 86 or 87 of the duty chargeable on the relevant acquisition if—\n\n(a) any of the following applies—\n\n(i) a period of at least 3 years has elapsed between the entry date for the tax reform scheme land and the date on which a contract or other agreement or arrangement for the relevant acquisition is entered into; or\n\n(ii) the entry interest for the tax reform scheme land was a 100% interest; or\n\n(iii) the entry interest and any further interest acquired in the tax reform scheme land before the relevant acquisition amounts to a 100% interest; and\n\n(b) the value of the tax reform scheme land, for the purposes of calculating the duty payable on the entry transaction and on the acquisition of any further interest referred to in paragraph (a)(iii)—\n\n(ii) did not exclude the value of an interest in dutiable property referred to in section 10(1)(ad) located on the land; and\n\n(3) The Commissioner may exclude or partially exclude the unencumbered value of a land holding referred to in subsection (1)(b) that is not excluded under subsection (2) from the calculation under section 86 or 87 of the duty chargeable on the relevant acquisition if the Commissioner, having regard to the matters in subsection (4), is satisfied that it is appropriate to do so.\n\n(4) For the purposes of subsection (3), the Commissioner must have regard to—\n\n(a) the quantum of the entry interest and any further interests acquired in the tax reform scheme land; and\n\n(b) the extent to which the value of the tax reform scheme land, for the purposes of calculating the duty payable on the entry transaction and on the acquisition of any further interests in the land—\n\n(i) was reduced by a lease over the land or part of the land; and\n\n(ii) excluded the value of an interest in fixtures referred to in section 10(1)(ad) located on the land; and\n\n(iii) was reduced by an economic entitlement in relation to the land; and\n\n(c) if a specified transaction occurred on or after 1 July 2024 but before the entry transaction for the land, the period of time that elapsed between the specified transaction and the entry transaction occurring; and\n\n(d) if a specified transaction occurred after the entry transaction for the land but before the relevant acquisition that is being assessed, the duty that was paid on the specified transaction; and\n\n(e) any other matter that the Commissioner considers relevant.\n\n(5) Subsections (4), (5) and (6) of section 89FA apply to this section with any necessary modifications.\n\n(6) In this section, ***specified transaction*** has the same meaning as it has in section 69AQA.\n\nS. 89FAC inserted by No. 24/2025 s. 11.\n\n\t89FAC Application of Division to subdivided tax reform scheme land\n\n(1) For the purposes of this Division, if the land holdings of a landholder include tax reform scheme land that is a lot (a ***child lot***) in a registered plan of subdivision of tax reform scheme land (the ***parent lot***)—\n\n(a) the child lot is taken to have an entry interest of the same quantum as the entry interest for the parent lot; and\n\n(b) if a further interest was acquired in the parent lot, the child lot is taken to have been the subject of the acquisition of a further interest of the same quantum as the further interest in the parent lot; and\n\n(c) the entry interest and any further interest in the child lot is taken—\n\n(i) to have been subject to the same duty consequences as the entry interest or further interest in the parent lot; and\n\n(ii) to otherwise have the same characteristics, as far as practicable, as the entry interest or further interest in the parent lot.\n\n***further interest*** has the same meaning as in section 89FA(6);\n\nS. 89FB inserted by No. 16/2024 s. 41.\n\n\t89FB Liability for duty if change of land use after tax reform scheme land exemption\n\n(1) The Commissioner must determine if duty or additional duty is payable on a relevant acquisition, and assess an acquisition statement lodged under Division 2 in respect of the relevant acquisition, if—\n\nS. 89FB(1)(a) substituted by No. 50/2024 s. 12(a).\n\n(a) when the relevant acquisition was made, the land holdings of the landholder included—\n\n(i) an interest or estate in tax reform scheme land, including a lease of a kind referred to in section 7(1)(b)(v) or (va) over tax reform scheme land; or\n\n(ii) an interest in dutiable property referred to in section 10(1)(ad) located on tax reform scheme land; or\n\n(iii) an interest in tax reform scheme land that is taken to be beneficially owned under section 32XD; and\n\nS. 89FB(1)(b) amended by No. 50/2024 s. 12(b).\n\n(b) the value or part of the value of the land holdings referred to in paragraph (a) was excluded under section 89FA or 89FAB from the calculation of duty payable on the relevant acquisition; and\n\nS. 89FB(1)(c) amended by No. 50/2024 s. 12(c).\n\n(c) after the relevant acquisition was made, the tax reform scheme land has a change of use; and\n\nS. 89FB(1)(d) amended by No. 50/2024 s. 12(c).\n\n(d) as a result of the change of use, the tax reform scheme land no longer has a qualifying use; and\n\nS. 89FB(1)(e) amended by No. 50/2024 s. 12(d).\n\n(e) at the time of the change of use, the land holdings of the landholder include the land holding referred to in paragraph (a)(i), (ii) or (iii) (as the case requires); and\n\n(f) at the time of the change of use, the person who made the relevant acquisition continues to hold an interest in the landholder.\n\n(2) Duty is payable on the relevant acquisition to the extent that the interest that a person is taken to have obtained in land under the relevant acquisition is the same as the interest the person is taken to hold in the land at the time of the change of use.\n\n(3) For the purposes of subsection (2)—\n\n(a) the interest a person is taken to have obtained in land under a relevant acquisition is determined in accordance with section 89FA(5); and\n\n(b) the interest a person is taken to hold in land at the time of the change of use is the interest the person holds in the landholder multiplied by the interest the landholder holds in the land at that time.\n\n(4) The amount of duty calculated under subsection (1) is to be reduced by 10% for each calendar year that has elapsed since the date of the relevant acquisition that is being assessed for duty.\n\n(5) A liability for duty imposed under this section arises on the date of the change of use.\n\nSection 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.\n\nS. 89FC inserted by No. 16/2024 s. 41.\n\n\t89FC Apportionment of duty imposed on change of land use if land has been subdivided\n\n(1) This section applies for the purposes of a calculation of duty imposed on a relevant acquisition under section 89FB if a plan of subdivision of land is registered in respect of the land referred to in that section (the ***parent lot***) before the date of the change of use of the land.\n\n(2) The duty chargeable on the relevant acquisition under section 89FB, to the extent that it relates to the subdivided land, is to be apportioned to each lot that has had a change of use by reference to the area that lot bears to the parent lot.\n\nS. 89FD inserted by No. 16/2024 s. 41.\n\n\t89FD Duty imposed on change of land use if land has been consolidated\n\nFor the purposes of the calculation of duty chargeable under section 89FB, it does not matter whether the land the subject of the interest acquired has been consolidated with other land in the period between the date of the relevant acquisition and the change of use.\n\nDivision 4—Valuation and supplementary calculation provisions\n\nS. 89G substituted by No. 38/2012 s. 5.\n\n","sortOrder":223},{"sectionNumber":"89G","sectionType":"section","heading":"Valuation of land holdings","content":"\t89G Valuation of land holdings\n\n(1) The provisions of this Act for ascertaining the value of transfers chargeable with ad valorem duty apply in the same way to a relevant acquisition under this Part and the value of land holdings to which the relevant acquisition relates.\n\n(2) In determining the value of land holdings under this Part, any arrangement made in respect of the land holdings that has the effect of reducing the value is to be disregarded, subject to subsection (3).\n\n(3) An arrangement is not to be disregarded if the Commissioner is satisfied that the arrangement was not made as part of an arrangement or scheme with a collateral purpose of reducing the duty otherwise payable in relation to the relevant acquisition.\n\n(4) In considering whether or not he or she is satisfied for the purposes of subsection (3), the Commissioner may have regard to—\n\n(a) the duration of the arrangement before the relevant acquisition; and\n\n(b) whether the arrangement has been made with an associated person; and\n\n(c) whether there is any commercial efficacy to the making of the arrangement other than to reduce duty; and\n\n(d) any other matters the Commissioner considers relevant.\n\nS. 89H substituted by No. 38/2012 s. 5.\n\n","sortOrder":224},{"sectionNumber":"89H","sectionType":"section","heading":"Maximisation of entitlements on distribution of land holdings","content":"\t89H Maximisation of entitlements on distribution of land holdings\n\n(1) This section applies to any calculation, for the purposes of this Part, of the entitlement of a person (the ***interested person***) to participate in a distribution of the property of a landholder, whether on a winding up, a vesting of trust property or otherwise.\n\n(2) A calculation is to be made based, firstly, on a distribution carried out in accordance with the constitution of the landholder, and with any law relevant to the distribution, as in force at the time of distribution, and the entitlement of the interested person is to be evaluated accordingly.\n\n(3) Next, a calculation is to be made based on a distribution carried out after the interested person, and any other person whom the interested person has power to direct with respect to such a distribution or who is, in relation to the interested person, an associated person, has exercised all powers and discretions exercisable by them—\n\n(a) to effect or compel an alteration to the constitution of the landholder; and\n\n(b) to vary the rights conferred by units or shares in the landholder; and\n\n(c) to effect or compel the substitution or replacement of units or shares in the landholder with other units or shares in it—\n\nin such a manner as would maximise the value of the entitlement, and the entitlement of the interested person is to be evaluated accordingly.\n\n(4) The results obtained by an evaluation of the interested person's entitlement in accordance with subsections (2) and (3) are then to be compared, and whichever evaluation results in a greater entitlement is the correct evaluation, for the purposes of this Part, of the entitlement, unless the Commissioner, being satisfied that the application of this subsection in the particular case would be inequitable, determines otherwise.\n\n(5) A reference in this section to the constitution of a landholder is a reference, if the landholder is a unit trust scheme, to the trust deed or other document that contains the rules of the trust.\n\nS. 89I substituted by No. 38/2012 s. 5.\n\n","sortOrder":225},{"sectionNumber":"89I","sectionType":"section","heading":"Agreements for sale, transfer or purchase of land","content":"\t89I Agreements for sale, transfer or purchase of land\n\n(a) at the time of acquisition of an interest by any person in a landholder that necessitates the lodgement of an acquisition statement under Division 2, the landholder was the vendor under an uncompleted agreement for the sale or transfer of land; and\n\n(b) the agreement is subsequently completed—\n\nthe Commissioner is to determine whether or not duty is payable, and must assess or reassess the statement accordingly, as though the land the subject of the agreement was not, at the time of the acquisition concerned, a land holding of the landholder.\n\n(a) at the time of acquisition of an interest by any person in a landholder that requires the lodgement by any person of an acquisition statement under Division 2, the landholder was the purchaser under an uncompleted agreement for the sale or transfer of land; and\n\n(b) the agreement is subsequently rescinded, annulled or otherwise terminated without completion—\n\nthe Commissioner is to determine whether or not duty is payable, and must assess or reassess the statement accordingly, as though the land the subject of the agreement was not, at the time of the acquisition concerned, a land holding of the landholder.\n\n(3) In this section, a reference to a ***landholder*** includes a reference to a linked entity of the landholder and, in the case of a landholder that is a unit trust scheme, also includes a reference to a trustee of the landholder.\n\n(4) For the purposes of this section—\n\n(a) a reference to a vendor includes a reference to a person who, at the time of a relevant acquisition, was the grantee of a put option or grantor of a call option;\n\n(b) a reference to a purchaser includes a reference to a person who, at the time of a relevant acquisition—\n\n(ii) was the grantor of a put option or grantee of a call option;\n\n(c) a reference to an uncompleted agreement includes a reference to an arrangement that includes both a put option and a call option.\n\nS. 89J substituted by No. 38/2012 s. 5.\n\n","sortOrder":226},{"sectionNumber":"89J","sectionType":"section","heading":"Re-purchase facilities—widely held trusts","content":"\t89J Re-purchase facilities—widely held trusts\n\n(a) the trustee of a unit trust scheme that is a widely held trust redeems any units in the trust; and\n\n(b) as a result of the redemption, the scheme would, but for this section, cease to be a widely held trust because a unit holder, individually or together with any associated person, is beneficially entitled to more than 20% of the units in the trust.\n\n(2) For a period of 30 days beginning on and including the day on which the redemption occurs, the definition of ***widely held trust*** in section 3(1) applies to the unit trust scheme as if a reference in paragraph (d) of that definition to 20% were a reference to 30%.\n\n(3) However, if at the end of the 30-day period beginning on and including the day on which the redemption occurs, a unit holder, individually or together with any associated person, is beneficially entitled to more than 20% of the units in the unit trust scheme—\n\n(a) the definition of ***widely held trust*** in section 3(1) is taken to have applied to the unit trust scheme during that period as if subsection (2) had not been enacted; and\n\n(b) the Commissioner must determine whether any duty is chargeable under this Act as a result of the operation of paragraph (a) and if so, must assess that duty; and\n\n(c) a tax default occurs for the purposes of the **Taxation Administration Act 1997**  if the whole of any duty assessed under paragraph (b) is not paid to the Commissioner within 30 days after liability for the duty arose.\n\nS. 89K substituted by No. 38/2012 s. 5.\n\n","sortOrder":227},{"sectionNumber":"89K","sectionType":"section","heading":"Re-purchase facilities—wholesale unit trust schemes","content":"\t89K Re-purchase facilities—wholesale unit trust schemes\n\n(a) the trustee of a unit trust scheme that is registered under section 89S as a wholesale unit trust scheme redeems any units in the trust; and\n\n(b) as a result of the redemption, the scheme would, but for this section, cease to be registered under section 89S as a wholesale unit trust scheme because either of the following applies—\n\n(i) less than 70% of the units in the scheme are held by qualified investors;\n\n(ii) a qualified investor, either alone or together with associated persons, holds 50% or more of the units in the scheme.\n\n(2) For a period of 30 days beginning on and including the day on which the redemption occurs, the criteria for registration as a wholesale unit trust scheme in section 89S(2) apply to the wholesale unit trust scheme as if—\n\n(a) a reference in paragraph (c) to 70% were a reference to 50%; and\n\n(b) a reference in paragraph (d) to 50% were a reference to 70%.\n\n(3) However, if at the end of the 30-day period beginning on and including the day on which the redemption occurs, either of subsection (1)(b)(i) or (ii) applies—\n\n(a) section 89S(2) is taken to have applied to the wholesale unit trust scheme during that period as if subsection (2) had not been enacted; and\n\n(b) the Commissioner must determine whether any duty is chargeable under this Act as a result of the operation of paragraph (a) and if so, must assess that duty; and\n\n(c) a tax default occurs for the purposes of the **Taxation Administration Act 1997**  if the whole of any duty assessed under paragraph (b) is not paid to the Commissioner within 30 days after liability for the duty arose.\n\nDivision 5—Tax avoidance schemes\n\nS. 89L substituted by No. 38/2012 s. 5.\n\n","sortOrder":228},{"sectionNumber":"89L","sectionType":"section","heading":"Imposition of duty","content":"\t89L Imposition of duty\n\n(1) This Division imposes duty on an acquisition in respect of which duty would have been chargeable under this Part but for a tax avoidance scheme.\n\n(2) Duty is payable at the time it would have been payable but for the tax avoidance scheme.\n\nS. 89M substituted by No. 38/2012 s. 5.\n\n","sortOrder":229},{"sectionNumber":"89M","sectionType":"section","heading":"What is a tax avoidance scheme?","content":"\t89M What is a tax avoidance scheme?\n\n(1) For the purposes of this Division, a ***tax avoidance scheme*** is a scheme that—\n\n(a) directly or indirectly has tax avoidance as its purpose or effect; or\n\n(b) directly or indirectly has tax avoidance as one of its purposes or effects, if the purpose or effect of tax avoidance is not merely incidental to another purpose or effect of the scheme—\n\nwhether the scheme had that effect at the time that it was entered into, or only subsequently.\n\nS. 89M(1A) inserted by No. 16/2024 s. 42.\n\n(1A) To avoid doubt, a tax avoidance scheme includes a scheme under which an entry transaction is entered into in respect of land for the purpose of tax avoidance on subsequent acquisitions in landholders that hold the land.\n\n(2) In this Division—\n\n***scheme*** includes the whole or any part of—\n\n(a) a contract, agreement, arrangement, understanding, promise or undertaking (including all steps and transactions by which it is carried into effect)—\n\n(i) whether made or entered into orally or in writing;\n\n(ii) whether express or implied;\n\n(iii) whether or not enforceable;\n\n(b) a plan, proposal, action, course of action or course of conduct, whether or not unilateral;\n\n(c) a trust;\n\n***tax avoidance*** means—\n\n(a) an elimination or reduction in the liability of a person for duty under this Part;\n\n(b) a postponement in the liability of a person to pay duty under this Part.\n\nS. 89N substituted by No. 38/2012 s. 5.\n\n","sortOrder":230},{"sectionNumber":"89N","sectionType":"section","heading":"Anti-avoidance provision","content":"\t89N Anti-avoidance provision\n\n(1) If the Commissioner considers that a person has participated in a tax avoidance scheme, the Commissioner may—\n\n(a) disregard the scheme; and\n\n(b) determine what duty would have been payable under this Part but for the scheme; and\n\n(c) make an assessment or reassessment under the **Taxation Administration Act 1997** of the tax liability of the person or any other person to give effect to that determination.\n\n(2) For the purposes of making a determination under subsection (1), the Commissioner may—\n\n(a) treat a company or a unit trust scheme as a landholder of a particular class;\n\n(b) treat a landholder (or, if the landholder is a unit trust scheme, the trustee of the scheme) as holding land, and determine the extent of that land holding;\n\n(c) treat a relevant acquisition as having been made by any person and determine the extent of that interest;\n\n(d) determine the value of any land.\n\n(3) Nothing in subsection (2) limits the powers of the Commissioner to make a determination under subsection (1).\n\n(4) A tax default occurs for the purposes of the **Taxation Administration Act 1997**  if the whole of any duty assessed or reassessed in accordance with subsection (1)(c) is not paid to the Commissioner within 30 days after liability for the duty arose.\n\nS. 89O substituted by No. 38/2012 s. 5.\n\n","sortOrder":231},{"sectionNumber":"89O","sectionType":"section","heading":"Misleading information","content":"\t89O Misleading information\n\n(1) This section applies to a person who is employed or concerned in—\n\n(a) the preparation of an instrument in relation to the acquisition of an interest in a landholder; or\n\n(b) the provision of advice in relation to the acquisition of an interest in a landholder; or\n\n(c) the conduct of the acquisition of an interest in a landholder.\n\nS. 89O(2) amended by No. 13/2013 s. 56(2), substituted by No. 28/2017 s. 40.\n\n(2) The person must not, without reasonable excuse, in the instrument or in any material or data presented to the Commissioner—\n\n(a) omit from, or fail to include, any fact or circumstance affecting the liability of any person for duty under this Part; or\n\n(b) give information about any fact or circumstance affecting the liability of any person for duty under this Part that is false or misleading in a material particular.\n\nDivision 6—Registration of unit trust schemes\n\nS. 89P substituted by No. 38/2012 s. 5.\n\n","sortOrder":232},{"sectionNumber":"89P","sectionType":"section","heading":"Definitions","content":"\t89P Definitions\n\n***qualified investor*** in a unit trust scheme means a person who holds units in the unit trust scheme in any of the following capacities—\n\n(a) as trustee of a complying superannuation fund that has no less than 300 members;\n\n(b) as trustee of a complying approved deposit fund that has no less than 300 members;\n\n(c) as trustee of a pooled superannuation trust;\n\n(d) as trustee of a public unit trust scheme;\n\n(e) as trustee of a wholesale unit trust scheme;\n\n(f) as a listed company;\n\n(g) as a life company, if its holding of the units in the unit trust scheme is an investment of a statutory fund maintained by it under the Life Insurance Act 1995 of the Commonwealth;\n\n(h) as the Crown in right of the Commonwealth, a State or a Territory (including any statutory body representing the Crown in right of the Commonwealth, a State or a Territory);\n\n(i) as, for or on behalf of an entity established and wholly-owned by a government agency of a State or Territory or the Commonwealth and primarily used for the purpose of meeting statutory government liabilities or obligations;\n\n(j) as agent, nominee or custodian for a person or entity referred to in any of the preceding paragraphs, in the capacity as such an agent, nominee or custodian and in accordance with the terms of appointment of the agent, nominee or custodian;\n\n(k) as custodian or trustee for an investor directed portfolio service, within the meaning of the relevant ASIC policy statement, if the custodian or trustee holds its interest in the unit trust scheme for no less than 300 clients as investors through the service, none of whom (individually or together with any associated person) is beneficially entitled to more than 20% of the units held by the custodian or trustee in the unit trust scheme;\n\n(l) in a capacity approved by the Commissioner under subsection (4);\n\n***relevant ASIC policy statement*** means the policy statement \"PS 148: Investor Directed Portfolio Services\" published by the Australian Securities and Investments Commission, or any other policy statement published by that Commission that the Commissioner from time to time approves for the purposes of this Division.\n\nS. 89P(2) amended by No. 41/2013 s. 25.\n\n(2) For the purposes of paragraph (g) of the definition of ***qualified investor*** in subsection (1), the holding of units by a life company by way of an investment of a statutory fund of the life company is taken to be a holding of units by the life company in a separate capacity from a holding of units by the life company by way of investment of another statutory fund of the life company.\n\n(3) For the purposes of paragraph (j) of the definition of ***qualified investor*** in subsection (1), the holding of units by an agent, nominee or custodian for any one or more of the persons or entities referred to in subsection (1)(a) to (i) is taken to be a separate holding of units by the agent, nominee or custodian in relation to each person or entity.\n\n(4) The Commissioner may approve a capacity to be a capacity for the purposes of paragraph (l) of the definition of ***qualified investor*** in subsection (1) if satisfied that—\n\nS. 89P(4)(a) amended by No. 26/2015 s. 8.\n\n(a) the capacity corresponds to a capacity referred to in paragraph (a), (b), (c), (d), (e), (f), (g) or (j) of that definition under the law of an external Territory or of a country outside Australia; or\n\n(b) the capacity is as a wholly owned subsidiary (within the meaning of the Corporations Act) or wholly owned trust of a person in a capacity referred to in paragraph (a).\n\nS. 89PA inserted by No. 19/2023 s. 14.\n\n\t89PA Fund manager of Victorian Future Fund is qualified investor\n\n(1) The fund manager is taken to be a qualified investor under section 89P in its capacity as trustee of a unit trust scheme in which, either directly or through other unit trust schemes of which the fund manager is trustee, money in the Victorian Future Fund is invested.\n\n(2) A person appointed as agent, nominee or custodian for the fund manager in its capacity as trustee of a unit trust scheme referred to in subsection (1) is taken to be a qualified investor under section 89P in the capacity as such an agent, nominee or custodian and in accordance with the terms of appointment of the agent, nominee or custodian.\n\n(3) Section 89P(3) applies for the purposes of this section as if a reference in that subsection—\n\n(a) to paragraph (j) of the definition of ***qualified investor*** under subsection (1) were a reference to subsection (2) of this section; and\n\n(b) to one or more of the persons or entities referred to in subsection (1)(a) to (i) were a reference to the persons or entities referred to in subsection (1)(a) to (i) and the fund manager.\n\n***fund manager*** has the meaning given by section 3 of the **Victorian Future Fund Act 2023**;\n\n***Victorian Future Fund*** means the Fund established by section 5(1) of the **Victorian Future Fund Act 2023**.\n\nS. 89Q substituted by No. 38/2012 s. 5.\n\n","sortOrder":233},{"sectionNumber":"89Q","sectionType":"section","heading":"Application for registration","content":"\t89Q Application for registration\n\n(1) The trustee of a unit trust scheme may apply to the Commissioner for registration of the scheme as—\n\n(a) a declared public unit trust scheme; or\n\n(b) a wholesale unit trust scheme; or\n\n(c) an imminent wholesale unit trust scheme; or\n\n(d) a declared wholesale unit trust scheme.\n\n(2) An application must be accompanied by a statement in an approved form made by the applicant.\n\n(3) In considering an application for registration under this Division, the Commissioner may take into account any matter he or she considers relevant.\n\nS. 89R substituted by No. 38/2012 s. 5.\n\n","sortOrder":234},{"sectionNumber":"89R","sectionType":"section","heading":"Registration of declared public unit trust schemes","content":"\t89R Registration of declared public unit trust schemes\n\n(1) On application by the trustee of a unit trust scheme, the Commissioner may register the unit trust scheme as a declared public unit trust scheme if the Commissioner is satisfied that the scheme meets the criteria for registration as a declared public unit trust scheme.\n\n(2) The criteria for registration as a declared public unit trust scheme are—\n\n(a) the scheme should be registered as a declared public unit trust scheme; and\n\n(b) registration is not being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of, avoiding or reducing duty otherwise chargeable under this Part.\n\n(3) The Commissioner may impose any conditions he or she considers appropriate on the registration of a unit trust scheme as a declared public unit trust scheme.\n\nS. 89S substituted by No. 38/2012 s. 5.\n\n","sortOrder":235},{"sectionNumber":"89S","sectionType":"section","heading":"Registration of wholesale unit trust schemes","content":"\t89S Registration of wholesale unit trust schemes\n\n(1) On application by the trustee of a unit trust scheme, the Commissioner may register the unit trust scheme as a wholesale unit trust scheme if the Commissioner is satisfied that the scheme meets the criteria for registration as a wholesale unit trust scheme.\n\n(2) The criteria for registration as a wholesale unit trust scheme are—\n\n(a) the scheme was not established for a particular investor; and\n\n(b) either—\n\n(i) the trustee of the scheme, as trustee, holds directly or indirectly an interest in not less than 3 parcels of land (whether in or outside Victoria), and at least 2 of those interests each have an unencumbered value of $10 000 000 or more; or\n\n(ii) at least 6 of the unit holders in the scheme who are not associated persons each have a subscription under the scheme of not less than $3 000 000; and\n\n(c) not less than 70% of the units in the scheme are held by qualified investors; and\n\n(d) no qualified investor, either alone or together with associated persons, holds 50% or more of the units in the scheme; and\n\n(e) registration is not being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of, avoiding or reducing duty otherwise chargeable under this Part.\n\n(3) For the purposes of subsection (2)(b)(i), the Commissioner may treat 2 or more parcels of land as a single parcel of land if he or she is satisfied that it is appropriate to do so, having regard to—\n\n(a) the ownership of the parcels of land; and\n\n(b) the proximity of the parcels of land; and\n\n(c) the use of the parcels of land; and\n\n(d) any other matter the Commissioner considers to be relevant.\n\nS. 89T inserted by No. 38/2012 s. 5.\n\n","sortOrder":236},{"sectionNumber":"89T","sectionType":"section","heading":"Registration of imminent wholesale unit trust schemes","content":"\t89T Registration of imminent wholesale unit trust schemes\n\n(1) On application by the trustee of a unit trust scheme, the Commissioner may register the unit trust scheme as an imminent wholesale unit trust scheme if the Commissioner is satisfied that the scheme meets the criteria for registration as an imminent wholesale unit trust scheme.\n\n(2) The criteria for registration as an imminent wholesale unit trust scheme are—\n\n(a) the unit trust scheme will meet the criteria for registration as a wholesale unit trust scheme within 12 months after the day on which the first units in the scheme were issued to a qualified investor; and\n\n(b) units issued in the scheme, before the scheme meets the criteria for registration as a wholesale unit trust scheme, have been and will be issued only for the purpose of the scheme meeting those criteria; and\n\n(c) registration is not being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of, avoiding or reducing duty otherwise chargeable under this Part.\n\nS. 89U inserted by No. 38/2012 s. 5.\n\n","sortOrder":237},{"sectionNumber":"89U","sectionType":"section","heading":"Registration of declared wholesale unit trust schemes","content":"\t89U Registration of declared wholesale unit trust schemes\n\n(1) On application by the trustee of a unit trust scheme, the Commissioner may register the unit trust scheme as a declared wholesale unit trust scheme if the Commissioner is satisfied that the scheme meets the criteria for registration as a declared wholesale unit trust scheme.\n\n(2) The criteria for registration as a declared wholesale unit trust scheme are—\n\n(a) the scheme should be registered as a declared wholesale unit trust scheme; and\n\n(b) registration is not being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of, avoiding or reducing duty otherwise chargeable under this Part.\n\n(3) The Commissioner may impose any conditions he or she considers appropriate on the registration of a unit trust scheme as a declared wholesale unit trust scheme.\n\nS. 89V inserted by No. 38/2012 s. 5.\n\n","sortOrder":238},{"sectionNumber":"89V","sectionType":"section","heading":"Duration of registration","content":"\t89V Duration of registration\n\n(1) Registration of a unit trust scheme under this Division takes effect on the day specified by the Commissioner in respect of the scheme, which may be a day occurring before the day on which registration is granted.\n\n(2) Unless cancelled earlier, the duration of registration under this Division is—\n\n(a) 3 years for a registered declared public unit trust scheme, wholesale unit trust scheme or declared wholesale unit trust scheme;\n\n(b) 12 months for a registered imminent wholesale unit trust scheme.\n\n(3) Registration of a unit trust scheme under this Division may be renewed on application made under section 89Q.\n\nS. 89W inserted by No. 38/2012 s. 5.\n\n","sortOrder":239},{"sectionNumber":"89W","sectionType":"section","heading":"Reporting requirements","content":"\t89W Reporting requirements\n\n(1) As a condition of registration under this Division, the Commissioner may impose requirements on the trustee of the registered scheme to give the Commissioner information specified by the Commissioner about the scheme at the times required by the Commissioner.\n\n(2) Requirements may be imposed under subsection (1) at the time of registration or at any subsequent time.\n\nS. 89X inserted by No. 38/2012 s. 5.\n\n","sortOrder":240},{"sectionNumber":"89X","sectionType":"section","heading":"Disqualifying circumstances for certain unit trust schemes","content":"\t89X Disqualifying circumstances for certain unit trust schemes\n\n(1) For the purposes of this section, a ***disqualifying circumstance*** is—\n\n(a) a circumstance that causes a unit trust scheme that is registered under this Division to cease to meet the relevant criteria for registration; or\n\n(b) subject to subsection (2), the failure by a unit trust scheme that is registered under this Division to meet a condition of registration, or the contravention of a condition of registration by a unit trust scheme or the trustee of the scheme.\n\n(2) A failure or contravention referred to in subsection (1)(b) is not a disqualifying circumstance if the Commissioner so determines, being satisfied that the application of this section to the unit trust scheme in the particular case would not be just or reasonable.\n\n(3) If  a  disqualifying circumstance occurs in respect of a unit trust scheme—\n\n(a) the trustee of the unit trust scheme must give the Commissioner notice of the disqualifying circumstance within 28 days after it occurs; and\n\n(b) the unit trust scheme is taken to have been a private unit trust scheme from and including the relevant date; and\n\n(c) if an acquisition of an interest in the unit trust scheme that was made on or after the relevant date is a significant interest within the meaning of section 79(2)(a), it becomes a relevant acquisition; and\n\n(d) the Commissioner must make an assessment of duty chargeable under this Act as a result of the operation of paragraphs (b) and (c); and\n\n(e) a tax default occurs for the purposes of the **Taxation Administration Act 1997**  if the whole of any duty assessed under paragraph (d) is not paid to the Commissioner within 30 days after liability for the duty arose.\n\n(4) The trustee of a unit trust scheme must not fail to comply with subsection (3)(a).\n\nPenalty: 10 penalty units.\n\ns. 89X(4) inserted by No. 13/2013 s. 56(3).\n\n(5) If—\n\n(a) a disqualifying circumstance occurs in relation to a unit trust scheme; and\n\n(b) the trustee of the unit trust scheme fails to comply with subsection (3)(a); and\n\n(c) duty is assessed under this Part as a result of the disqualifying circumstance—\n\nthe trustee of the unit trust scheme is liable to pay to the Commissioner, by way of penalty, an amount equal to double the amount of duty assessed as a result of the disqualifying circumstance, less any amount of duty that the trustee or any other person did pay.\n\n(6) A penalty imposed by subsection (5) is in addition to any penalty imposed for contravention of subsection (4) by the trustee.\n\n(7) The Commissioner, in such circumstances as the Commissioner considers appropriate, may remit the penalty imposed by subsection (5) by any amount.\n\n(8) In this section—\n\n***relevant date*** means—\n\n(a) if the disqualifying circumstance is a circumstance that causes a registered imminent wholesale unit trust scheme to cease to meet the criteria set out in section 89T(2)(a)—the date on which the 12 month period referred to in that section began;\n\n(b) in any other case—the date the disqualifying circumstance occurred.\n\nS. 89Y inserted by No. 38/2012 s. 5.\n\n","sortOrder":241},{"sectionNumber":"89Y","sectionType":"section","heading":"Cancellation of registration","content":"\t89Y Cancellation of registration\n\n(1) The Commissioner may cancel the registration of a unit trust scheme at any time if the Commissioner is satisfied that a disqualifying circumstance within the meaning of section 89X has occurred in respect of that scheme.\n\n(2) The Commissioner cancels the registration of a unit trust scheme by giving written notice of cancellation to the trustee of the scheme including the reasons for the cancellation.\n\nPart 3—Entitlements arising from capital reductions or rights alterations\n\n","sortOrder":242},{"sectionNumber":"90","sectionType":"section","heading":"Definitions","content":"\t90 Definitions\n\n(1) In this Part—\n\nS. 90(1) def. of *capital reduction* amended by No. 44/2001 s. 3(Sch. item 32.5(a)).\n\n***capital reduction*** means—\n\n(a) the redemption, surrender or cancellation of a share (including cancellation as part of a buy-back of shares in accordance with Division 2 of Part 2J.1 of the Corporations Act); or\n\n(b) a reduction in the paid up value of a share;\n\nS. 90(1) def. of *company* amended by Nos 44/2001 s. 3(Sch. item 32.5(a)), 28/2011 s. 24.\n\n***company*** means a Victorian company that is—\n\n(a) a public company within the meaning of the Corporations Act; and\n\n(b) not listed on the ASX or a recognised stock exchange;\n\n***dutiable entitlement*** means a voting share entitlement in respect of whose acquisition a statement is required, under section 94, to be lodged;\n\n***person*** includes persons who are associated persons;\n\n***rights alteration***, in relation to voting shares, means a variation, abrogation or alteration of rights relating to the shares;\n\nS. 90(1) def. of *voting shares* substituted as *voting share* by No. 44/2001 s. 3(Sch. item 32.5(b)).\n\n***voting share*** has the same meaning as in section 9 of the Corporations Act.\n\n(2) For the purposes of this Part, if voting shares acquired by associated persons severally do not, but taken in the aggregate would, confer an entitlement to which this Part applies, the voting shares acquired by the associated persons are taken to be aggregated and are taken to confer the entitlement on the associated person who last acquired any of those voting shares.\n\n(3) If, by subsection (2), an entitlement to voting shares is taken to exist as the aggregate of voting shares of associated persons, the associated persons are jointly and severally liable for payment of the duty chargeable on the statement required to be lodged under this Part.\n\n(4) Voting shares are not to be aggregated in accordance with subsection (2) if the Commissioner is satisfied that the associated persons concerned acquired their several shares independently and for no common purpose.\n\n","sortOrder":243},{"sectionNumber":"91","sectionType":"section","heading":"When does a liability for duty arise?","content":"\t91 When does a liability for duty arise?\n\nA liability for duty charged by this Part arises when a dutiable entitlement is acquired.\n\nS. 92 amended by No. 69/2011 s. 18.\n\n","sortOrder":244},{"sectionNumber":"92","sectionType":"section","heading":"When must duty be paid?","content":"\t92 When must duty be paid?\n\nA tax default does not occur for the purposes of the **Taxation Administration Act 1997** if duty is paid within 30 days after the liability to pay the duty arises.\n\n","sortOrder":245},{"sectionNumber":"93","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t93 Who is liable to pay the duty?\n\nDuty chargeable under this Part is payable by the person who acquires a dutiable entitlement.\n\n","sortOrder":246},{"sectionNumber":"94","sectionType":"section","heading":"Entitlement to voting shares arising from capital reduction or rights alteration","content":"\t94 Entitlement to voting shares arising from capital reduction or rights alteration\n\n(a) a person becomes entitled to at least 50% of the voting shares of a company by means of capital reduction or rights alteration, or both; or\n\n(b) a person who is entitled to at least 50% of the voting shares of a company becomes entitled to at least 10% more of the voting shares over a period of not more than 12 months by means of capital reduction or rights alteration, or both—\n\nthe person must lodge a statement with the Commissioner in respect of the entitlement.\n\n(2) The statement must be lodged within 3 months after the entitlement arises.\n\nS. 94(3) inserted by No. 48/2001 s. 6(2), amended by No. 29/2002 s. 5.\n\n(3) A statement is not required to be lodged under this section in respect of an entitlement that arises on or after 1 July 2002.\n\n","sortOrder":247},{"sectionNumber":"95","sectionType":"section","heading":"Content of statement","content":"\t95 Content of statement\n\nThe statement required to be lodged under this Part by a person is to contain the following information—\n\n(a) the name and address of the person;\n\n(b) the name of the company;\n\n(c) the date on which each relevant capital reduction or rights alteration, or both, occurred;\n\n(d) if the person's entitlement has arisen—\n\n(i) from capital reduction—the total of the unencumbered value, immediately prior to each relevant capital reduction, of the shares the subject of the capital reduction; or\n\n(ii) from rights alteration—the total of the unencumbered value, immediately prior to each relevant rights alteration, of the shares the subject of the rights alteration; or\n\n(iii) from capital reduction and rights alteration—the aggregate of the totals under subparagraphs (i) and (ii);\n\n(e) the total consideration paid to the person in relation to all relevant capital reductions or rights alterations, or both;\n\n(f) any other information required by the Commissioner for the purposes of this Chapter.\n\n","sortOrder":248},{"sectionNumber":"96","sectionType":"section","heading":"Assessment of duty","content":"\t96 Assessment of duty\n\nA statement required to be lodged under this Part by a person is chargeable with duty at the rate of 60 cents for every $100, or part, of the higher of—\n\n(a) the total or aggregate obtained under section 95(d); and\n\n(b) the total amount under section 95(e).\n\nPart 4—Allotment of shares by direction\n\n","sortOrder":249},{"sectionNumber":"97","sectionType":"section","heading":"Application of Part","content":"\t97 Application of Part\n\n(1) This Part applies to an allotment of shares to any person by a Victorian company at another person's direction, in discharge of an obligation to that other person, whether that obligation arises as consideration for the purchase of property by the company or otherwise.\n\n(2) This Part does not apply to—\n\nS. 97(2)(a) amended by No. 28/2011 s. 25.\n\n(a) an allotment of shares by a Victorian company that is listed on the ASX or a recognised stock exchange;\n\nS. 97(2)(b) amended by No. 48/2001 s. 6(3)(a).\n\n1. an allotment of shares at another person's direction if the direction is given by the underwriter in any contract for underwriting shares upon the first issue of the shares by the company;\n\nS. 97(2)(c) inserted by No. 48/2001 s. 6(3)(b), amended by No. 29/2002 s. 5.\n\n(c) an allotment of shares that takes place on or after 1 July 2002.\n\n","sortOrder":250},{"sectionNumber":"98","sectionType":"section","heading":"When does a liability for duty arise?","content":"\t98 When does a liability for duty arise?\n\nA liability for duty charged by this Part arises when the relevant shares are allotted.\n\nS. 99 amended by No. 69/2011 s. 19.\n\n","sortOrder":251},{"sectionNumber":"99","sectionType":"section","heading":"When must duty be paid?","content":"\t99 When must duty be paid?\n\nA tax default does not occur for the purposes of the **Taxation Administration Act 1997** if duty is paid within 30 days after the liability to pay the duty arises.\n\n","sortOrder":252},{"sectionNumber":"100","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t100 Who is liable to pay the duty?\n\nDuty chargeable under this Part is payable by the person to whom the relevant shares are allotted.\n\n","sortOrder":253},{"sectionNumber":"101","sectionType":"section","heading":"Acquisition of shares by allotment","content":"\t101 Acquisition of shares by allotment\n\n(1) A person to whom any shares are allotted in an allotment to which this Part applies must lodge a statement with the Commissioner in respect of the allotment.\n\nS. 101(2) amended by No. 69/2011 s. 20.\n\n(2) The statement must be lodged within 30 days after the shares are allotted.\n\n","sortOrder":254},{"sectionNumber":"102","sectionType":"section","heading":"Allotment statement","content":"\t102 Allotment statement\n\nAn allotment statement required to be lodged by a person is to contain the following information—\n\n(a) the name and address of the person;\n\n(b) the name of the relevant company;\n\n(c) the date on which the shares were allotted to the person;\n\n(d) any other information required by the Commissioner for the purposes of this Chapter.\n\n","sortOrder":255},{"sectionNumber":"103","sectionType":"section","heading":"Assessment of duty","content":"\t103 Assessment of duty\n\nAn allotment to which this Part applies is chargeable with duty at the rate of duty set out in section 29 in respect of a transfer of marketable securities on the dutiable value of the shares.\n\nCh. 3 Pt 5 (Heading and ss 103A–103F) inserted by No. 46/2004 s. 13.\n\nPart 5—Acquisition of land use entitlements  \nby allotment of shares or issue of units\n\nS. 103A inserted by No. 46/2004 s. 13.\n\n","sortOrder":256},{"sectionNumber":"103A","sectionType":"section","heading":"When does a liability for duty arise?","content":"\t103A When does a liability for duty arise?\n\nA liability for duty charged by this Part arises when a land use entitlement is acquired by an allotment of shares or an issue of units to any person.\n\nS. 103B inserted by No. 46/2004 s. 13, amended by No. 69/2011 s. 21.\n\n","sortOrder":257},{"sectionNumber":"103B","sectionType":"section","heading":"When must duty be paid?","content":"\t103B When must duty be paid?\n\nA tax default does not occur for the purposes of the **Taxation Administration Act 1997** if duty is paid within 30 days after the liability to pay the duty arises.\n\nS. 103C inserted by No. 46/2004 s. 13.\n\n","sortOrder":258},{"sectionNumber":"103C","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t103C Who is liable to pay the duty?\n\nDuty chargeable under this Part is payable by the person who acquires the land use entitlement.\n\nS. 103D inserted by No. 46/2004 s. 13.\n\n","sortOrder":259},{"sectionNumber":"103D","sectionType":"section","heading":"Acquisition of land use entitlement","content":"\t103D Acquisition of land use entitlement\n\n(1) A person who acquires a land use entitlement by an allotment of shares or an issue of units must lodge a statement (an ***acquisition statement***) with the Commissioner in respect of the entitlement.\n\nS. 103D(2) amended by No. 69/2011 s. 22.\n\n(2) The statement must be lodged within 30 days after the entitlement is so acquired.\n\nS. 103E inserted by No. 46/2004 s. 13.\n\n","sortOrder":260},{"sectionNumber":"103E","sectionType":"section","heading":"Form of statement","content":"\t103E Form of statement\n\nAn acquisition statement required to be lodged by a person is to be in an approved form and is to contain the following information—\n\n(a) the name and address of the person; and\n\n(b) the name of the relevant company or unit trust scheme; and\n\n(c) the date on which the land use entitlement was acquired; and\n\n(d) the consideration paid for the relevant shares or units; and\n\n(e) any other information required by the Commissioner for the purposes of this Chapter.\n\nS. 103F inserted by No. 46/2004 s. 13.\n\n","sortOrder":261},{"sectionNumber":"103F","sectionType":"section","heading":"Assessment of duty","content":"\t103F Assessment of duty\n\nThe share allotment or unit issue by which a person acquires a land use entitlement is chargeable with duty at the general rate of duty set out in section 28 on the dutiable value of the land use entitlement.\n\nCh. 4 (Heading) amended by Nos 38/2012 s. 14, 18/2023 s. 22(2).\n\nChapter 4—Financial sector (transfer and restructure)\n\nS. 104 amended by Nos 38/2012 s. 15(1), 18/2023 s. 22(3).\n\n","sortOrder":262},{"sectionNumber":"104","sectionType":"section","heading":"Imposition of duty","content":"\t104 Imposition of duty\n\nThis Chapter charges duty in respect of the transfer of dutiable property to a receiving body under Part 3 of the Financial Sector (Transfer and Restructure) Act 1999 of the Commonwealth.\n\n","sortOrder":263},{"sectionNumber":"105","sectionType":"section","heading":"When does a liability for duty arise?","content":"\t105 When does a liability for duty arise?\n\nA liability for duty charged by the Chapter arises when the dutiable property becomes the property of the receiving body[[3]](#endnote-4).\n\n","sortOrder":264},{"sectionNumber":"106","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t106 Who is liable to pay the duty?\n\nDuty chargeable under this Chapter is payable by the receiving body.\n\n","sortOrder":265},{"sectionNumber":"107","sectionType":"section","heading":"Statement on transfer of property","content":"\t107 Statement on transfer of property\n\nS. 107(1) amended by Nos 38/2012 s. 15(1), 18/2023 s. 22(4).\n\n(1) A receiving body to whom dutiable property is transferred under Part 3 of the Financial Sector (Transfer and Restructure) Act 1999 of the Commonwealth must lodge a statement with the Commissioner.\n\n(2) The statement must specify the dutiable property transferred and the dutiable value of the dutiable property at the time it becomes the property of the receiving body.\n\nS. 107(3) amended by No. 69/2011 s. 23.\n\n(3) The statement must be lodged within 30 days after the dutiable property becomes the property of the receiving body.\n\nS. 108 amended by No. 48/2001 s. 6(4).\n\n","sortOrder":266},{"sectionNumber":"108","sectionType":"section","heading":"Assessment of duty","content":"\t108 Assessment of duty\n\nA statement required to be lodged under this Chapter by a receiving body is chargeable with duty at the rate of duty set out in section 28 on the dutiable value of the property as if the transfer of the dutiable property to the receiving body were a dutiable transaction.\n\n","sortOrder":267},{"sectionNumber":"109","sectionType":"section","heading":"Exemption","content":"\t109 Exemption\n\nDuty is not chargeable under this Chapter in respect of a transfer of dutiable property if the transfer is of a class that, under guidelines approved for the time being by the Minister, is a class of transfer in respect of which duty is not chargeable.\n\nChapter 5 (Headings and  \nss 110–124) repealed by No. 48/2001 s. 5(b).\n\nChapter 6—Hire of goods\n\n","sortOrder":268},{"sectionNumber":"125","sectionType":"section","heading":"Imposition of duty","content":"\t125 Imposition of duty\n\nThis Chapter charges duty on the hire of goods if the person hiring out the goods is a commercial hire business.\n\nS. 125A inserted by No. 36/2005 s. 16.\n\n","sortOrder":269},{"sectionNumber":"125A","sectionType":"section","heading":"Hire of goods duty abolished from January 2007","content":"\t125A Hire of goods duty abolished from January 2007\n\nDespite anything to the contrary in this Chapter (except section 147(2)), duty is not chargeable on a hire of goods in respect of any hiring charges received on or after 1 January 2007.\n\n","sortOrder":270},{"sectionNumber":"126","sectionType":"section","heading":"What is a commercial hire business?","content":"\t126 What is a commercial hire business?\n\n(1) A ***commercial hire business*** is a person who hires out goods as a business.\n\n(2) It is immaterial whether or not the hiring out of the goods is the principal business or is ancillary to some other form of business, and whether or not any such principal or ancillary business is carried on wholly or partly outside Victoria.\n\n","sortOrder":271},{"sectionNumber":"127","sectionType":"section","heading":"Hire of goods to which this Chapter applies—jurisdictional nexus","content":"\t127 Hire of goods to which this Chapter applies—jurisdictional nexus\n\n(1) This Chapter applies to the hire of goods only if the goods are used solely or predominantly in Victoria during any return period in respect of which a liability to duty is required to be determined.\n\n(2) A motor vehicle, however—\n\n(a) if it is the subject of an equipment financing arrangement, is taken to be used, at all times in the course of that arrangement, in the State or Territory under whose law it is registered; and\n\n(b) if it is not the subject of an equipment financing arrangement but is hired, is taken to be used at all times in the course of the hire (unless it becomes the subject of an equipment financing arrangement), in the State or Territory in which the motor vehicle is initially delivered under the hire.\n\n(3) If goods hired under a hire of goods are not used or to be used solely or predominantly in any particular State or Territory, the goods are taken to be predominantly used or to be used in Victoria if, under the hire of goods, the goods are initially delivered in Victoria.\n\n(4) For the purposes of this section, goods are predominantly used or to be used in Victoria if they are used or to be used more in Victoria than in any other single State or Territory.\n\n","sortOrder":272},{"sectionNumber":"128","sectionType":"section","heading":"What are *goods*?","content":"\t128 What are *goods*?\n\nFor the purposes of this Chapter, ***goods*** includes all chattels personal and fixtures severable from realty, but does not include money, livestock or things in action.\n\n","sortOrder":273},{"sectionNumber":"129","sectionType":"section","heading":"What is a *hire of goods*?","content":"\t129 What is a *hire of goods*?\n\n(1) A ***hire of goods*** is an arrangement under which goods are or may be used at any time by a person other than the person hiring out the goods, unless the arrangement is excluded under section 132.\n\n(2) There are 2 kinds of hire of goods, namely—\n\n(a) an equipment financing arrangement; and\n\n(b) an ordinary (that is, any other) hire of goods.\n\n","sortOrder":274},{"sectionNumber":"130","sectionType":"section","heading":"What is an *equipment financing arrangement*?","content":"\t130 What is an *equipment financing arrangement*?\n\n(1) An ***equipment financing arrangement*** is a hire of goods that consists of—\n\n(a) a hire purchase agreement; or\n\n(b) some other agreement for a term of not less than 9 months.\n\n(2) A ***hire purchase agreement*** is 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 by which the property in the goods comprised in the agreement passes at the time of the agreement or on or at any time before the delivery of the goods.\n\n","sortOrder":275},{"sectionNumber":"131","sectionType":"section","heading":"What form may a hire of goods take?","content":"\t131 What form may a hire of goods take?\n\nA hire of goods may take any form. It is immaterial whether or not a hire of goods is effected or evidenced by an instrument in writing.\n\n","sortOrder":276},{"sectionNumber":"132","sectionType":"section","heading":"Exclusions from the definition of *hire of goods*","content":"\t132 Exclusions from the definition of *hire of goods*\n\nA hire of goods does not include any of the following—\n\nS. 132(a) substituted by No. 79/2001 s. 10(1).\n\n(a) an arrangement that gives a person a right to use goods that is conferred incidentally with a lease of, or a licence to occupy or use, land if there is no apportionment of consideration between the right to use the goods and the right to occupy or use the land;\n\n(b) an arrangement for the hire of an aircraft, ship or vessel, or for the hire of an engine or other component part of an aircraft, ship or vessel;\n\n(c) an arrangement for the provision of goods to a trader for the purpose of displaying or demonstrating the goods pending their sale or hire to a third party;\n\n(d) an arrangement comprising a ***wet hire*** (that is, an arrangement under which an operator is provided by or at the direction of the person hiring out the goods to operate the goods for the hirer);\n\n(e) an arrangement for the use of goods the provision of which is incidental and ancillary to the provision of a service if the provision of the goods is solely to enable the contractual provision of the service;\n\n(f) an arrangement made between related bodies corporate;\n\n(g) an arrangement under which a motor vehicle is subleased by an employee to an employer in connection with the employee's remuneration or other employment benefits;\n\n(h) an arrangement for the use, by a person who is partially or totally incapacitated, of an invalid aid or prosthetic device or of any similar aid, device or appliance;\n\nS. 132(i) amended by No. 11/2010 s. 42(1).\n\n(i) a credit contract within the meaning of the Consumer Credit (Victoria) Code as in force before its repeal under which the amount of credit does not exceed $35 000;\n\n(j) a hire purchase agreement relating to the use of farm machinery or a commercial vehicle where the purchaser is a natural person;\n\n(k) an arrangement relating to the use of—\n\n(i) a book; or\n\n(ii) an electricity, gas or water meter; or\n\n(iii) a caravan that is to remain on site.\n\n","sortOrder":277},{"sectionNumber":"133","sectionType":"section","heading":"Special hiring agreements","content":"\t133 Special hiring agreements\n\nA ***special hiring agreement*** is a written agreement for the hire of goods—\n\n(a) that describes the goods in such a way (for example, by reference to the make and model of each item) as to enable the nature or character of the goods to be clearly and readily identified, including the number of items; and\n\n(b) that does not include—\n\n(i) an agreement 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—\n\n(A) are lost, destroyed or stolen; or\n\n(B) fail or malfunction in the normal course of operation or use; or\n\n(C) are temporarily replaced during the servicing, maintenance or repair of the goods; or\n\n(D) are otherwise not fit for the purpose for which they are hired; or\n\n(ii) an agreement under which other goods, whether of the same or a different type, may be additionally provided.\n\n","sortOrder":278},{"sectionNumber":"134","sectionType":"section","heading":"What is the rate of duty?","content":"\t134 What is the rate of duty?\n\n(1) The duty chargeable on a hire of goods is 0⋅75% of the total amount of the hiring charges.\n\n(2) The maximum amount of duty chargeable in respect of a special hiring agreement is $10 000.\n\n","sortOrder":279},{"sectionNumber":"135","sectionType":"section","heading":"What are *hiring charges*?","content":"\t135 What are *hiring charges*?\n\n(1) ***Hiring charges*** are payments made to the person who hires out the goods by or on behalf of the hirer, for (or that arise as an incident of) the hire of the goods.\n\n(2) The following charges are included as hiring charges—\n\n(a) payments for damage waiver or for damage excess;\n\n(b) late return fees.\n\n","sortOrder":280},{"sectionNumber":"136","sectionType":"section","heading":"Payments exempted from *hiring charges*","content":"\t136 Payments exempted from *hiring charges*\n\n(1) The following charges are not included as hiring charges—\n\n(a) payments for delivery, repositioning, erection, installation, maintenance or cleaning of the goods;\n\n(b) refundable cash deposits or bonds (unless appropriated as hiring charges);\n\n(c) insurance premiums payable by the hirer;\n\n(d) duty paid or payable under this Act or a corresponding Act;\n\n(e) payments for the sale of goods (such as fuel, replacement parts or theft replacement);\n\n(f) any GST payable on the supply to which the hire of goods relates;\n\n(g) any payment of a type prescribed by the regulations.\n\n(2) No duty is chargeable under this Chapter on a payment by the hirer under a hire of goods if title to the goods passes to the hirer as a consequence of the payment.\n\n","sortOrder":281},{"sectionNumber":"137","sectionType":"section","heading":"Credit for duty paid in another Australian jurisdiction","content":"\t137 Credit for duty paid in another Australian jurisdiction\n\nS. 137(1) amended by No. 46/2001 s. 10.\n\n(1) The duty chargeable under this Chapter on a hire of goods is to be reduced by the amount of duty paid on the hire under a corresponding Act.\n\n(2) Despite subsection (1), the duty on a special hiring agreement that is chargeable with the maximum amount of duty of $10 000 cannot be reduced below $6000.\n\n","sortOrder":282},{"sectionNumber":"138","sectionType":"section","heading":"Splitting or redirection of hiring charges (anti‑avoidance provision)","content":"\t138 Splitting or redirection of hiring charges (anti‑avoidance provision)\n\nThe Commissioner may include, as part of the amount received as hiring charges, any of the following—\n\n(a) any payments under the arrangement that are not hiring charges, including charges referred to in section 136, that the Commissioner is satisfied have been increased for the purpose of minimising duty under this Chapter;\n\n(b) any payments that would be hiring charges except for the fact that they are paid to a person other than the person who hires out the goods.\n\n","sortOrder":283},{"sectionNumber":"139","sectionType":"section","heading":"Ascertainment and disclosure of place of use of goods","content":"\t139 Ascertainment and disclosure of place of use of goods\n\n(1) A person who hires out goods may, in determining the person's liability to duty, rely on a statement of the hirer as to where the goods will be solely or predominantly used in the course of the hire or, in the case of an unregistered motor vehicle, where the motor vehicle will be registered during the course of the hire, unless the person knows that the statement is false.\n\n(2) A person who hires out goods is not bound to inquire as to any change in the place of use of the goods or, in the case of a motor vehicle, the place of its registration.\n\n(3) If goods are solely or predominantly used or, in the case of a motor vehicle, are registered in a place other than the place advised by the hirer in a statement referred to in subsection (1), the Commissioner may assess or reassess the duty payable according to the actual place of sole or predominant use of the goods or, in the case of a motor vehicle, the place of its registration.\n\n(4) A failure to pay duty on the hire of goods by a person who hires out the goods in due reliance on a statement referred to in subsection (1), is not a tax default for the purposes of the **Taxation Administration Act 1997**, if the duty is paid within 3 months after the issue of a notice of assessment of the duty.\n\n(5) A hirer who knowingly falsely represents to the person who hires out goods (or to any person acting for that person) that the goods will be used solely or predominantly outside Victoria is guilty of an offence.\n\ns. 139(5) inserted by No. 13/2013 s. 56(3).\n\nPart 2—Registration of commercial hire businesses and payment of duty\n\n","sortOrder":284},{"sectionNumber":"140","sectionType":"section","heading":"Commercial hire businesses must be registered","content":"\t140 Commercial hire businesses must be registered\n\n(1) A commercial hire business must be registered under this Part if, in any month, the total amount of the hiring charges received in the month exceeds $6000.\n\n(2) An application for registration must be made within 21 days after the end of the month in which the $6000 threshold is first exceeded.\n\ns. 140(2) inserted by No. 13/2013 s. 56(2).\n\nS. 140(3) inserted by No. 36/2005 s. 17(1).\n\n(3) Subsection (1) does not apply to a commercial hire business in respect of hiring charges received in any month after December 2006.\n\n","sortOrder":285},{"sectionNumber":"141","sectionType":"section","heading":"Registration of commercial hire businesses","content":"\t141 Registration of commercial hire businesses\n\n(1) The Commissioner must register a commercial hire business that applies in the approved form for registration under this Part.\n\n(2) The Commissioner may register a commercial hire business that has not applied for registration.\n\n(3) The Commissioner must give written notice to the commercial hire business of the registration.\n\n","sortOrder":286},{"sectionNumber":"142","sectionType":"section","heading":"Cancellation of registration of commercial hire business","content":"\t142 Cancellation of registration of commercial hire business\n\n(1) A registered commercial hire business that ceases to hire out goods as a business must—\n\n(a) give written notice of that fact to the Commissioner; and\n\n(b) lodge the return required to be lodged under this Part; and\n\n(c) pay the duty payable in connection with the return on or before the 21st day of the month after which the notice is given.\n\ns. 142(1) inserted by No. 13/2013 s. 56(3).\n\nS. 142(1A) inserted by No. 36/2005 s. 17(2).\n\n(1A) A registered commercial hire business is not required—\n\n(a) to comply with subsection (1)(a) if the business ceases to hire out goods as a business on or after 1 January 2007; or\n\n(b) to comply with subsection (1)(b) or (c) in respect of any hiring charges received on or after that day.\n\n(2) The Commissioner is to cancel the registration of a commercial hire business on receipt of a notice under subsection (1).\n\n(3) The Commissioner may cancel a commercial hire business's registration under this Part if the Commissioner has reason to believe that registration is no longer required by the commercial hire business. The registration must not be cancelled until at least 30 days after written notice of intention to cancel the registration has been given by the Commissioner to the commercial hire business.\n\n(4) A cancellation of registration has effect from the day specified for the purpose by the Commissioner in a written notice of cancellation given to the commercial hire business.\n\n","sortOrder":287},{"sectionNumber":"143","sectionType":"section","heading":"Register of commercial hire businesses","content":"\t143 Register of commercial hire businesses\n\n(1) The Commissioner must keep a register of the commercial hire businesses who are registered under this Part.\n\n(2) Anyone may inspect the register without charge at the Commissioner's principal office during the hours that the office is open to the public.\n\n","sortOrder":288},{"sectionNumber":"144","sectionType":"section","heading":"Duty base","content":"\t144 Duty base\n\n(1) Duty under this Chapter is to be assessed on the total amount of the hiring charges received in a month by the commercial hire business.\n\n(2) The Commissioner may, however, by notice in writing approve a different basis of calculation of hiring charges if it appears to the Commissioner that duty payable on that basis will, over a period of time, approximate the duty payable in accordance with subsection (1). An amount calculated under any method so approved is taken for duty purposes, while the approval remains in force, to be the amount of hiring charges received. Such an approval may be revoked by the Commissioner at any time by notice in writing to the commercial hire business concerned.\n\n(3) A registered commercial hire business can, with the Commissioner's written consent, change the basis (as between a receipts basis and an approved basis) from month to month but it cannot change the basis within a month.\n\n(4) If consent is given under subsection (3), the Commissioner may assess or reassess the duty payable in any period prior to the change of basis to include any hiring charges that would not be accounted for, or to exclude any hiring charges that would be accounted for twice, because of the change of basis.\n\n","sortOrder":289},{"sectionNumber":"145","sectionType":"section","heading":"Lodgement of returns and payment of duty","content":"\t145 Lodgement of returns and payment of duty\n\n(1) A commercial hire business must, on or before the 21st day of each month—\n\n(a) lodge a return with the Commissioner; and\n\n(b) pay to the Commissioner the appropriate amount of duty calculated in accordance with section 134 in respect of the previous month, subject to the duty-free threshold in subsection (2).\n\nS. 145(2) amended by No. 79/2001 s. 10(2).\n\n(2) A duty-free threshold of $6000 per month applies in respect of hiring charges received from hires that are not special hiring agreements or equipment financing arrangements (that is, duty is payable only on such part of the total amount of those charges as exceeds $6000).\n\n(3) The Commissioner may by notice in writing approve of the lodgement by a commercial hire business of returns in respect of a period of more than one month, and in such a case—\n\n(a) the return must be lodged, and the duty paid, on or before the 21st day of the month following the last month to which the return relates; and\n\n(b) the duty payable on the return is the sum of the duties payable on a monthly basis in accordance with this section for each month to which the return relates.\n\n(4) A commercial hire business may elect to pay the duty payable on a special hiring agreement by lodging a statement under section 147. In that event, returns under this section in respect of the agreement are not necessary.\n\n(5) If, in relation to a special hiring agreement—\n\n(a) a commercial hire business makes an election under subsection (4); and\n\n(b) the special hiring agreement is terminated before the expiry of the term expressed in the agreement—\n\nthe commercial hire business may request a reassessment of duty as if the duty had been paid on a return under this section.\n\nS. 145(6) inserted by No. 36/2005 s. 17(3).\n\n(6) Nothing in this section requires a commercial hire business to—\n\n(a) lodge a return in respect of a month occurring after December 2006; or\n\n(b) pay duty in respect of any hiring charges received on or after 1 January 2007.\n\n","sortOrder":290},{"sectionNumber":"146","sectionType":"section","heading":"Statement of special hiring agreement","content":"\t146 Statement of special hiring agreement\n\nS. 146(1) amended by No. 46/2001 s. 11.\n\n(1) A commercial hire business may make out a written statement in respect of a special hiring agreement if the total amount of hiring charges paid or payable for the hire of the goods is not less than $1 333 333.\n\n(2) The statement must include the following—\n\n(a) the name and address of each party;\n\n(b) a description of the goods;\n\n(c) the commencement date and the term of the hire;\n\n(d) the total of the hiring charges paid or payable over the term of the hire;\n\n(e) the intervals at which the hiring charges are paid or payable.\n\n(3) The statement must be made out not later than—\n\n(a) the time when the commercial hire business receives the first (or only) payment of hiring charges; or\n\n(b) the time when the hiring charges become payable—\n\nwhichever first occurs.\n\nS. 146(4) inserted by No. 36/2005 s. 17(4).\n\n(4) A statement cannot be made under this section on or after 1 January 2007 in respect of any hiring charges that are paid or payable on or after that day.\n\nS. 147 amended by No. 36/2005 s. 17(5) (ILA s. 39B(1)).\n\n","sortOrder":291},{"sectionNumber":"147","sectionType":"section","heading":"Lodgement of statement and payment of duty","content":"\t147 Lodgement of statement and payment of duty\n\n(1) If a statement is made out in accordance with section 146, the commercial hire business must—\n\n(a) lodge the statement with the Commissioner; and\n\n(b) pay to the Commissioner the appropriate rate of duty calculated under section 134 in respect of hiring charges for the whole period of the hire—\n\nwithin 3 months after the statement is made out.\n\nS. 147(2) inserted by No. 36/2005 s. 17(5).\n\n(2) Nothing in this Chapter entitles a commercial hire business that has paid duty under this section to a refund of the duty, or any part of it, in respect of any amount of hiring charges paid or payable on or after 1 January 2007.\n\n","sortOrder":292},{"sectionNumber":"Part 7","sectionType":"part","heading":"Mortgages","content":"Chapter 7—Mortgages\n\nS. 148 amended by No. 46/2001 s. 12(1)(a).\n\n","sortOrder":293},{"sectionNumber":"148","sectionType":"section","heading":"Imposition of duty","content":"\t148 Imposition of duty\n\nThis Chapter charges duty on instruments that are mortgages. Duty chargeable under this Chapter is called ***mortgage duty***.\n\nS. 148A inserted by No. 48/2001 s. 7.\n\n","sortOrder":294},{"sectionNumber":"148A","sectionType":"section","heading":"Mortgage duty abolished from July 2004","content":"\t148A Mortgage duty abolished from July 2004\n\nDespite anything to the contrary in this Chapter, mortgage duty is not chargeable—\n\n(a) on a mortgage first executed, or that first affects property in Victoria, on or after 1 July 2004; or\n\n(b) in respect of an advance or further advance on or after 1 July 2004 under a mortgage first executed, or that first affects property in Victoria, before that day.\n\n","sortOrder":295},{"sectionNumber":"149","sectionType":"section","heading":"What is a *mortgage*?","content":"\t149 What is a *mortgage*?\n\nFor the purposes of this Chapter, an instrument is a ***mortgage*** if it is—\n\nS. 149(a) amended by No. 46/2001 s. 12(1)(b)(i).\n\n(a) a security by way of mortgage or charge over property wholly or partly in Victoria at the liability date; or\n\nS. 149(b) amended by No. 46/2001 s. 12(1)(b)(ii).\n\n(b) a security by way of a transfer of property wholly or partly in Victoria held in trust to be sold or otherwise converted into money and redeemable before the sale or conversion, except if the transfer is for the benefit of creditors who accept it in full satisfaction of debts owed to them; or\n\nS. 149(c) amended by No. 46/2001 s. 12(1)(b)(iii).\n\n(c) any transfer, assignment or disposition of any estate or interest in property wholly or partly in Victoria that is apparently absolute but intended only as a security; or\n\nS. 149(d) amended by No. 46/2001 s. 12(1)(b)(iv).\n\n(d) an instrument that, on the deposit of documents of title, authority to control title or a pledge to provide that control, to property wholly or partly in Victoria becomes a mortgage or evidences the terms of a mortgage.\n\n","sortOrder":296},{"sectionNumber":"150","sectionType":"section","heading":"What is an advance?","content":"\t150 What is an advance?\n\n(1) For the purposes of this Chapter, an ***advance*** is the provision or obtaining of funds by way of financial accommodation by means of—\n\n(a) a loan that is—\n\n(i) an advance of money; or\n\n(ii) the payment of money for or on account of, or on behalf of, or at the request of, any person; or\n\n(iii) a forbearance to require the payment of money owing on any account; or\n\n(iv) any transaction in any form that in substance effects a loan of money; or\n\n(b) a bill facility that is one or more agreements, understandings or arrangements because of which a bill of exchange or promissory note—\n\n(i) is drawn, accepted, endorsed or made; and\n\n(ii) is held, negotiated or discounted to obtain funds—\n\nwhether or not the funds are obtained from the person who draws, accepts, endorses or makes the bill of exchange or promissory note or from a person who is a party to any such agreement, understanding or arrangement.\n\n(2) An advance includes a contingent liability referred to in section 158.\n\n","sortOrder":297},{"sectionNumber":"151","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t151 Who is liable to pay the duty?\n\nThe person liable to pay mortgage duty is the mortgagor or the person who gives the mortgage.\n\n","sortOrder":298},{"sectionNumber":"152","sectionType":"section","heading":"When does a liability arise?","content":"\t152 When does a liability arise?\n\n(1) A mortgage is liable to duty on the date of its first execution.\n\nS. 152(2) amended by No. 46/2001 s. 12(1)(c).\n\n(2) A mortgage is liable to duty on the making of an advance or further advance by which the amount secured by the mortgage exceeds the amount secured by it at the date a liability to duty last arose in respect of it under this or a corresponding Act.\n\nS. 152(3) substituted by No. 46/2001 s. 12(2).\n\n(3) An instrument of security that does not affect property in Victoria at the date of first execution but that affects land in Victoria at any time within 12 months after that date becomes liable to duty as a mortgage on the date on which it first affects the land, unless it is duly stamped under a corresponding Act.\n\nS. 152(4) amended by No. 46/2001 s. 12(3).\n\n(4) An instrument that, on the deposit of documents of title, authority to control title or a pledge to provide that control, to property in Victoria, becomes a mortgage or evidences the terms of a mortgage is liable to duty as a mortgage on the deposit of the documents or instruments or the provision of authority to control title or a pledge to provide such control.\n\nS. 152(5) inserted by No. 30/2002 s. 8(1).\n\n(5) A reference in subsection (3) to land does not include a reference to an interest in land that is held by way of security.\n\n","sortOrder":299},{"sectionNumber":"153","sectionType":"section","heading":"When must duty be paid?","content":"\t153 When must duty be paid?\n\nA tax default does not occur for the purposes of the **Taxation Administration Act 1997** if duty is paid within 3 months after the liability to pay the duty arises.\n\n","sortOrder":300},{"sectionNumber":"154","sectionType":"section","heading":"How is mortgage duty charged?","content":"\t154 How is mortgage duty charged?\n\n(1) The amount of duty chargeable on a mortgage is determined by the amount secured by it as calculated under Part 2.\n\n(2) The amount of duty is—\n\n(a) $4 if no amount is secured by the mortgage or if the amount secured is not more than $10 000; or\n\n(b) if the amount secured by the mortgage exceeds $10 000, $4 for the first $10 000 and $0.80 for every $200, or part, by which the amount secured exceeds $10 000.\n\n(3) The amount of duty chargeable on a mortgage in respect of an advance or further advance is—\n\n(a) determined on the amount secured by it as calculated under Part 2; and\n\n(b) the amount of duty applicable as provided in subsection (2).\n\nS. 155 substituted by No. 46/2001 s. 13.\n\n","sortOrder":301},{"sectionNumber":"155","sectionType":"section","heading":"Extent mortgage is enforceable","content":"\t155 Extent mortgage is enforceable\n\n(1) A mortgage or mortgage package on which duty is imposed under this Act or a corresponding Act is enforceable only to the extent of the amount secured by the mortgage or mortgage package in respect of which duty has been paid under this Act or a corresponding Act.\n\n(2) Subsection (1) does not apply if the property affected by a mortgage or mortgage package (***secured property***) is partly in and partly outside Victoria if—\n\n(a) duty has been paid on the total advances under the mortgage or mortgage package when the mortgage duty paid is taken with the duty paid under a corresponding Act; and\n\n(b) the proportion of secured property in Victoria used to determine mortgage duty liability is—\n\n(i) based on a referrable point for the dutiable proportion of the mortgage; and\n\n(ii) not incorrect by more than 5%.\n\nS. 156 amended by No. 44/2001 s. 3(Sch. item 32.6(a)).\n\n","sortOrder":302},{"sectionNumber":"156","sectionType":"section","heading":"Where is property located?","content":"\t156 Where is property located?\n\nFor the purposes of this Chapter, property in the following forms is taken to be located in the place specified—\n\nS. 156(a) substituted by No. 44/2001 s. 3(Sch. item 32.6(b)).\n\n(a) shares in or securities of a body corporate—\n\n(i) in the case of a company within the meaning of the Corporations Act—in the place in which the company is taken to be registered;\n\n(ii) in any other case—in the place of incorporation of the body corporate;\n\n(b) units in a unit trust scheme—\n\n(i) in the place where the register on which the units are registered is kept; or\n\n(ii) in the place of residence of the manager or responsible entity of the unit trust scheme, if the register on which the units are registered is not kept in Australia;\n\n(c) debt securities of a Government of a State or Territory, in the State or Territory concerned.\n\nS. 156(2) repealed by No. 44/2001 s. 3(Sch. item 32.6(c)).\n\nPart 2—Calculating the amount secured by a mortgage\n\n","sortOrder":303},{"sectionNumber":"157","sectionType":"section","heading":"Secured amount","content":"\t157 Secured amount\n\nS. 157(1) substituted by No. 46/2001 s. 14(1).\n\n(1) A mortgage is chargeable with duty assessed on the amount of advances actually secured by it and recoverable under it.\n\nS. 157(2) amended by No. 46/2001 s. 14(2).\n\n(2) If duty of $4 is paid or taken to be paid in respect of a mortgage, the mortgage is taken to be stamped in respect of an amount of advances of $10 000.\n\nS. 157(3) substituted by No. 46/2001 s. 14(3).\n\n(3) For the purpose of subsection (1), if—\n\n(a) a mortgage has been duly stamped for an amount of advances secured by the mortgage; and\n\n(b) a further advance secured by the mortgage is made; and\n\n(c) the total amount of advances secured by the mortgage exceeds the amount for which the mortgage has been duly stamped—\n\nthe amount of advances secured by the mortgage is the amount by which the amount of advances secured by the mortgage exceeds the amount for which the mortgage has been duly stamped.\n\n(4) If several mortgages over the same property are executed to secure the same advance—\n\n(a) only one is chargeable with duty under this Chapter; and\n\n(b) the Commissioner may denote the payment of the duty on the other mortgages.\n\n(5) If the duty chargeable on a mortgage depends on duty paid on another instrument, the Commissioner may denote the payment of the duty so paid on the mortgage.\n\n","sortOrder":304},{"sectionNumber":"158","sectionType":"section","heading":"Contingent liabilities","content":"\t158 Contingent liabilities\n\nS. 158(1) amended by No. 46/2001 s. 14(4)(a).\n\n(1) A mortgage used or capable of being used, whether directly or indirectly, to recover the whole or any part of an amount contingently payable in connection with an advance—\n\n(a) by a guarantor or indemnifying party under a guarantee or indemnity; or\n\n(b) by another party under another instrument of a different kind—\n\nis chargeable with duty as if the whole or part of the amount of the contingent liability secured by the mortgage were a separate advance secured by the mortgage.\n\n(2) A reference in subsection (1) to a contingent liability is a reference to a contingent liability limited to the amount of any advance by a party referred to in subsection (1) and does not include a reference to any other kind of contingent liability.\n\n(3) This section—\n\n(a) does not apply if the Commissioner is satisfied that there is no connection between the mortgage and any advance by any party to the arrangements;\n\n(b) does not require duty to be paid more than once in respect of an advance.\n\n","sortOrder":305},{"sectionNumber":"159","sectionType":"section","heading":"Mortgages over property not wholly within Victoria","content":"\t159 Mortgages over property not wholly within Victoria\n\n(1) Duty chargeable in respect of a mortgage over property that is partly within Victoria and partly outside Victoria is to be assessed as if the amount secured by it were only the dutiable proportion.\n\nS. 159(2) amended by Nos 46/2001 s. 14(4)(b), 40/2016 s. 10(4).\n\n(2) The dutiable proportion is to be calculated in accordance with the following formula—\n\nDP is the dutiable proportion;\n\nAS is the amount secured by the mortgage on which duty is charged at the liability date;\n\nV is the value of the property in Victoria affected by the mortgage;\n\nT is the value of all property affected by the mortgage, excluding property within a Territory or outside Australia.\n\n(3) The dutiable proportion is to be calculated by reference to the values of the properties according to any referrable point specified in subsection (4).\n\nS. 159(4) amended by No. 46/2001 s. 14(4)(c).\n\n(4) A referrable point is any of the following prepared within 12 months preceding the liability date—\n\n(a) an independent valuation of the secured property;\n\n(b) a statement of the mortgagee based on information obtained by the mortgagee in determining to make the advance to the mortgagor;\n\nS. 159(4)(c) amended by No. 44/2001 s. 3(Sch. item 32.7).\n\n(c) property valuations used by the mortgagor in preparing an annual return to be lodged under the Corporations Act;\n\n(d) financial reports of the mortgagor certified by an independent auditor as presenting a true and fair view of the company's financial position;\n\n(e) agreed valuations for property that form the basis of policies of insurance of the mortgagor;\n\n(f) any other approved method.\n\n(5) If there are 2 or more referrable points in relation to a mortgage, the referrable point is the later or latest of those referrable points.\n\nS. 159(6) amended by No. 46/2001 s. 14(4)(c).\n\n(6) The referrable point is the same referrable point used or to be used to determine liability to duty at the liability date under a corresponding Act.\n\n(7) Evidence of the location and percentage value of any property is to be made by either party to the mortgage by way of a statement in the approved form.\n\n(8) A mortgage or a statement made under subsection (7) may be endorsed with duty on the basis of evidence contained in the statement.\n\n(9) If a statement is endorsed under subsection (8), the mortgage may be endorsed at any time—\n\n(a) as being stamped to the amount evidenced by the duty paid on the statement; and\n\n(b) by showing—\n\nS. 159(9)(b)(i) amended by No. 46/2001 s. 14(4)(d)(i).\n\n(i) the percentage of the property in Victoria securing the advance; and\n\nS. 159(9)(b)(ii) amended by No. 46/2001 s. 14(4)(d)(ii).\n\n(ii) the total amount secured by the mortgage.\n\n","sortOrder":306},{"sectionNumber":"160","sectionType":"section","heading":"Advances secured by mortgage package","content":"\t160 Advances secured by mortgage package\n\nS. 160(1) substituted by No. 46/2001 s. 14(5).\n\n(a) at a liability date, 2 or more security instruments secure or partly secure the same money; and\n\n(b) at least one of the instruments is a security affecting property wholly or partly outside Victoria; and\n\n(c) at least one of the instruments is a mortgage—\n\nthe instruments are known as a ***mortgage package***.\n\nS. 160(2) substituted by No. 46/2001 s. 14(5).\n\n(2) Also, a ***mortgage package*** may include—\n\n(a) a mortgage executed after the liability date if the Commissioner is satisfied that the mortgage was intended to be part of the package; and\n\n(b) a mortgage previously collateral to an earlier advance under some or all of the other mortgages in the package.\n\nS. 160(3) substituted by No. 46/2001 s. 14(5).\n\n(3) Mortgage duty must be assessed in accordance with the Part on the mortgage package as if the instruments comprising the mortgage package were one mortgage first executed on the day the last instrument to be executed was executed.\n\nS. 160(4) substituted by No. 46/2001 s. 14(5).\n\n(4) If 2 or more mortgages over property within Victoria form part of the security for a mortgage package, one of those mortgages must be stamped with the mortgage duty paid in Victoria for the mortgage package and the other mortgages must be stamped as collateral mortgages.\n\nS. 160(5) substituted by No. 46/2001 s. 14(5).\n\n(5) Evidence of the location and percentage value of any property is to be made by either party to the mortgage by way of the statement referred to in section 159(7).\n\n(6) If a person makes an application for the stamping of a mortgage referred to in subsection (1) and one or more of the other intended mortgages in the mortgage package has not yet been executed, the executed mortgage, until all the intended mortgages are executed, when stamped is security only for that amount of the advance to which the proportion of the property secured by all the executed mortgages bears to the total of the property expressed to secure the advance.\n\n(7) The Commissioner may endorse the executed mortgage to indicate the proportion of the advance secured by the mortgage pending the execution of the other intended mortgages.\n\n(8) If a mortgage secures the same advance as a mortgage package in respect of which duty has been paid under this Chapter and the mortgage is not part of a mortgage package, the mortgage is taken to be a collateral mortgage in respect of that advance.\n\n","sortOrder":307},{"sectionNumber":"161","sectionType":"section","heading":"Stamping before advance","content":"\t161 Stamping before advance\n\nS. 161(1) amended by No. 46/2001 s. 14(6)(a)(i).\n\n(1) A mortgage may be stamped before an advance whether or not an earlier advance has been made.\n\n(2) A mortgage referred to in section 159 or 160 may be stamped to secure any amount exceeding that to which it is already stamped based on the dutiable proportion at the time of stamping.\n\n(3) A mortgage stamped under subsection (2) is—\n\n(a) duly stamped; and\n\n(b) not required to be stamped in accordance with section 159 again until an advance brings the total amount secured above the amount to which it is already stamped.\n\nS. 161(4) amended by No. 46/2001 s. 14(6)(a)(ii).\n\n(4) Section 160(6) applies to a mortgage package stamped before an advance.\n\n","sortOrder":308},{"sectionNumber":"162","sectionType":"section","heading":"Security","content":"\t162 Security\n\n(1) A stamped mortgage or a collateral mortgage that was, but is no longer, part of the same mortgage package and no longer secures the same money secured by that package is not security for any other money unless duty in respect of the other money has been paid.\n\n(2) The withdrawal of a mortgage from a mortgage package will not affect the amount to which the remaining mortgage or mortgages are security for.\n\n","sortOrder":309},{"sectionNumber":"163","sectionType":"section","heading":"Exchange of information","content":"\t163 Exchange of information\n\nThe Commissioner may provide information relating to any statement in respect of any mortgage package or mortgage referred to in section 159(1) to any person the Commissioner considers is connected with the administration of this Chapter or the corresponding provisions of a corresponding Act.\n\n","sortOrder":310},{"sectionNumber":"164","sectionType":"section","heading":"Collection of duty and endorsement of instruments","content":"\t164 Collection of duty and endorsement of instruments\n\nThe Commissioner, or a person authorised by the Commissioner, may—\n\n(a) collect any duty payable under this Chapter; and\n\n(b) endorse mortgages with a stamp showing—\n\nS. 164(b)(i) amended by No. 46/2001 s. 14(6)(b).\n\n(i) the percentage of property in Victoria securing the advance; and\n\n(ii) the total amount secured by the mortgage.\n\nS. 165 substituted by No. 46/2001 s. 15, amended by No. 30/2002 s. 8(2) (ILA s. 39B(1)).\n\n","sortOrder":311},{"sectionNumber":"165","sectionType":"section","heading":"Collateral securities","content":"\t165 Collateral securities\n\n(1) Mortgage duty is not chargeable in respect of that part of an amount secured by a collateral mortgage that is secured by—\n\n(a) a mortgage or security instrument that has been duly stamped under this Act or a corresponding Act; or\n\n(b) a mortgage package that has been duly stamped under section 160 or a corresponding Act.\n\nS. 165(2) inserted by No. 30/2002 s. 8(2).\n\n(2) A collateral mortgage that no longer secures an amount secured by a mortgage, instrument or mortgage package mentioned in subsection (1) is not security for another advance unless mortgage duty for the amount of the other advance is paid.\n\nPart 3—Duty concessions\n\n","sortOrder":312},{"sectionNumber":"166","sectionType":"section","heading":"Refinancing of loans","content":"\t166 Refinancing of loans\n\nS. 166(1) amended by No. 30/2002 s. 8(3).\n\n(1) In this section—\n\n***refinancing mortgage*** means a mortgage that secures the amount of the balance outstanding immediately before the execution of that mortgage under an earlier mortgage to the same borrower duly stamped under this or a corresponding Act (whether over the same property or a property previously owned by the borrower) that is discharged or to be discharged as part of the arrangements for the new mortgage.\n\n(2) For the purposes of subsection (1), mortgages are created to secure an advance to the same borrower if, either directly by the mortgages themselves or indirectly through one or more collateral arrangements, the same person obtains the advances secured by them.\n\nS. 166(3) amended by No. 46/2001 s. 16.\n\n(3) A refinancing mortgage is taken to have been stamped with ad valorem duty as a mortgage in respect of the amount required to discharge the earlier mortgage (being an amount in relation to which the earlier mortgage was duly stamped), except as provided by subsection (5).\n\n(4) If an advance is refinanced by more than one lender, so that mortgages given to the lenders together secure the balance outstanding under an earlier mortgage, the definition of ***refinancing mortgage*** in subsection (1) is to be construed as though—\n\n(a) the reference to a mortgage securing the outstanding balance were a reference to the aggregate of such mortgages; and\n\n(b) each lender were the holder of a refinancing mortgage.\n\n(5) If, as provided by subsection (4), each of a number of lenders is the holder of a refinancing mortgage, a refinancing mortgage held by each lender is taken to have been duly stamped with ad valorem duty as a mortgage in respect of an amount equal to the same proportion of the amount required to discharge the earlier mortgage as the amount secured by that mortgage bears to the total amount secured by the refinancing mortgages held by all the lenders.\n\n(6) If each of 2 or more refinancing mortgages severally secures the same advance—\n\n(a) the provisions of subsection (3) or (5), as the case may be, apply to such one of the mortgages as the Commissioner determines; and\n\n(b) no duty is chargeable in respect of any of the others (insofar as it is a refinancing mortgage) but the Commissioner may denote any of them in the approved manner.\n\n(7) For the purposes of section 165—\n\n(a) a refinancing mortgage that is taken, by the operation of subsection (3) or (5), to be duly stamped is in either case a stamped mortgage; and\n\n(b) duty is taken to have been paid on it to the extent provided by whichever of those subsections applies.\n\n(8) Duty at the rate of $0.80 per $200 or part of $200 is payable on the amount by which the advance made under a refinancing mortgage (not being a mortgage on which, by virtue of subsection (6)(b), no duty is chargeable) exceeds—\n\n(a) the amount required to discharge the earlier mortgage; or\n\n(b) the proportion of that amount referred to in subsection (5), in the case of a refinancing to which subsection (4) applies.\n\n(9) If the number of original borrowers is reduced, the remaining borrower or borrowers is or are taken to be the same borrower or the same person for the purposes of subsection (1) or (2).\n\n","sortOrder":313},{"sectionNumber":"167","sectionType":"section","heading":"Eligible mortgages under concession schemes","content":"\t167 Eligible mortgages under concession schemes\n\n(1) Subject to this section, no duty is chargeable under this Chapter on an eligible mortgage.\n\n(2) An ***eligible mortgage*** is—\n\nS. 167(2)(a) amended by No. 18/2023 s. 18.\n\n(a) a mortgage given by an eligible cardholder or an eligible first home owner securing an advance used or proposed to be used—\n\n(i) for the purchase of an estate in fee simple in land, if he or she is entitled under Division 5 of Part 5 of Chapter 2 to an exemption or concession from duty on the transfer of the land; or\n\n(ii) for the construction of a dwelling on that land; or\n\n(b) a re-financing mortgage (within the meaning of section 166) in respect of a mortgage referred to in paragraph (a).\n\n(3) This section applies only to that part of the amount secured by an eligible mortgage that is used or proposed to be used for the purpose of purchasing the land or the construction of a dwelling on the land.\n\n(4) For the purposes of assessing duty in respect of any further advances secured by an eligible mortgage, duty is taken to have been paid on the part of the amount secured that is referred to in subsection (3).\n\n(5) If a person—\n\n(a) represents to a tax officer that a mortgage is not chargeable with duty, or is chargeable with less duty, because of this section; and\n\n(b) is convicted of an offence against section 57 of the **Taxation Administration Act 1997** as a consequence—\n\nthe person is liable, by way of further penalty, to pay an amount equal to double the amount of duty that, but for the offence, would have been payable, less any amount of duty that the person did pay.\n\n(6) The penalty in subsection (5) is in addition to any penalty tax or interest that may be payable under the **Taxation Administration Act 1997**.\n\nChapter 7 Pt 4 (Heading) substituted by No. 46/2001 s. 17.\n\nPart 4—Exemptions\n\n\t168 Exempt mortgages and supporting instruments\n\n(1) This Chapter does not apply to—\n\n(a) a mortgage executed before 4 January 1965; or\n\n(b) a mortgage that is not chargeable with duty under this Act.\n\n(2) Other instruments that are exempt from payment of mortgage duty are—\n\n(a) a mortgage made or given by—\n\n(i) a registered co-operative society or registered co-operative housing society; or\n\n(ii) a body that is permitted to use the expression \"credit union\" under section 66 of the Banking Act 1959 of the Commonwealth;\n\n(b) a mortgage given by a corporation or body of persons incorporated or associated for a religious, charitable or educational purpose;\n\n(c) a mortgage or foreign security made or given by—\n\n(i) a Government of the Commonwealth or of another State or of a Territory; or\n\n(ii) a public statutory authority constituted under the law of Victoria, other than a declared public statutory authority under subsection (3); or\n\n(iii) a public statutory authority constituted under the law of the Commonwealth or of another State or of a Territory; or\n\n(iv) the Municipal Association of Victoria;\n\n(d) a lien on a crop registered under Part VII of the **Instruments Act 1958**;\n\n(e) a lien on wool or mortgage of stock registered under Part VIII of the **Instruments Act 1958**;\n\n(f) a mortgage given to the Victorian WorkCover Authority;\n\n(g) a mortgage given to a recognised institution within the meaning of the **Trustee Act 1958**, being a mortgage of a mortgage or a mortgage by way of deposit of a mortgage.\n\n(3) For the purposes of subsection (2)(c)(ii), the Governor in Council, by Order published in the Government Gazette, may declare a public statutory authority constituted under the law of Victoria to be a declared public statutory authority.\n\n","sortOrder":314},{"sectionNumber":"169","sectionType":"section","heading":"Mortgages associated with certain credit contracts","content":"\t169 Mortgages associated with certain credit contracts\n\n(a) a mortgage secures an amount advanced under a consumer credit contract and no other advances; and\n\n(b) the total amount advanced under the consumer credit contract does not exceed $35 000—\n\nthe mortgage is exempt from mortgage duty.\n\n(a) a mortgage secures an amount advanced under a consumer credit contract and another advance; and\n\n(b) the total amount advanced under the consumer credit contract does not exceed $35 000—\n\nmortgage duty is not chargeable on the mortgage in relation to the amount advanced under the consumer credit contract.\n\n(3) If—\n\n(a) a mortgage secures an amount advanced under a consumer credit contract (whether or not it also secures any other advance); and\n\n(b) the total amount advanced under the consumer credit contract exceeds $35 000—\n\nthe whole of the amount advanced under the consumer credit contract comprises or forms part of the advances secured by the mortgage.\n\n(4) An exemption provided by subsection (1) or (2) is not available to the extent to which the consumer credit is provided for the purposes of—\n\n(a) the acquisition of a private dwelling house or land on which to erect a private dwelling house; or\n\n(b) the erection of a private dwelling house or the addition of accommodation to a private dwelling house.\n\n***consumer credit*** means credit regulated under the Consumer Credit Code;\n\nS. 169(5) def. of *Consumer Credit Code* amended by No. 11/2010 s. 42(2).\n\n***Consumer Credit Code*** means—\n\n(a) the provisions of the Code by that name set out in the Appendix to the Consumer Credit (Queensland) Act 1994 of Queensland, as applied and in force in any State or Territory before its repeal in that State or Territory; or\n\n(b) the provisions of an Act of a State or Territory that are in the same, or substantially the same, terms as that Code;\n\n***private dwelling house*** means—\n\n(a) a building that is designed, or is designed principally, as a separate residence for one family or person; or\n\n(b) an apartment, flat or other part of a building that is so designated.\n\n","sortOrder":315},{"sectionNumber":"170","sectionType":"section","heading":"Farm machinery and commercial vehicles","content":"\t170 Farm machinery and commercial vehicles\n\nMortgage duty is not chargeable on so much of an advance to a natural person for the acquisition of farm machinery or a commercial vehicle as is secured by the mortgage.\n\n","sortOrder":316},{"sectionNumber":"171","sectionType":"section","heading":"Certain debentures and related instruments","content":"\t171 Certain debentures and related instruments\n\n(1) Mortgage duty is not chargeable on a mortgage solely securing the repayment of advances arising from the issue by a financial corporation or a related corporation of a debenture.\n\n(2) Mortgage duty is not chargeable on a mortgage in respect of advances arising from the issue by a financial corporation or a related corporation of a debenture if the mortgage secures in part the repayment of those advances.\n\n(3) This section applies to a debenture issued, or a mortgage executed, by a related corporation only in so far as the debenture is issued, or the mortgage is executed, for the purposes of raising funds to be used for a financial corporation.\n\n***financial corporation*** means a corporation whose sole or principal business is providing finance to the public, including making loans to the public;\n\nS. 171(4) def. of  \n*related corporation* amended by No. 44/2001 s. 3(Sch. item 32.7).\n\n***related corporation***, in relation to a particular financial corporation means a corporation that is, with respect to the financial corporation, a related body corporate within the meaning of the Corporations Act.\n\nPart 5—Miscellaneous\n\n","sortOrder":317},{"sectionNumber":"172","sectionType":"section","heading":"Payment of duty on mortgages associated with debenture issues","content":"\t172 Payment of duty on mortgages associated with debenture issues\n\n(a) a corporation is or will be under a liability to repay money received or to be received by it in respect of its debentures; and\n\nS. 172(1)(b) amended by No. 113/2003 s. 3(1).\n\n(b) the repayment is secured by a mortgage first executed before 16 August 2003; and\n\n(c) the corporation is a party to an instrument of trust relating to the debentures.\n\n(2) If the corporation and the trustee for the debenture holders give a written undertaking in the approved form to the Commissioner—\n\nS. 172(2)(a) amended by No. 113/2003 s. 3(2)(a).\n\n(a) a mortgage first executed before 16 August 2003 solely securing the repayment of money received or to be received by the corporation in respect of its debentures is not liable to mortgage duty; and\n\nS. 172(2)(b) substituted by No. 113/2003 s. 3(2)(b).\n\n(b) a mortgage first executed before 16 August 2003 securing in part the repayment of such money is not liable to mortgage duty in respect of advances arising from debentures subscribed for before 16 August 2003.\n\n(3) The undertaking binds the corporation and the trustee to lodge with the Commissioner, in July each year, a statutory declaration setting out, in the following categories, the total amount subscribed for in Victoria in respect of the corporation's debentures during the year ending on the previous 30 June (but not including amounts repayable at call or in less than 30 days) and to pay duty in the following amounts—\n\n| Money repayable at or after the expiration of not less than 30 days and not more than 3 months | $0.40 for every $2000, or part |\n| Money repayable at or after the expiration of not less than 3 months and not more than 6 months | $0.80 for every $2000, or part |\n\nMoney repayable at call after a specified period is taken to be money repayable at the expiration of that period.\n\nS. 172(3A) inserted by No. 113/2003 s. 3(3).\n\n(3A) The obligation to lodge a statutory declaration in accordance with subsection (3) ceases after July 2003.\n\nS. 172(3B) inserted by No. 113/2003 s. 3(3).\n\n(3B) The corporation and the trustee must lodge with the Commissioner a statutory declaration on or before 1 July 2004 setting out, in the following categories, the total amount subscribed for in Victoria in respect of the corporation's debentures during the period commencing on and including 1 July 2003 and ending on 15 August 2003 (but not including amounts repayable at call or in less than 30 days) and to pay duty in the following amounts—\n\n| Money repayable at or after the expiration of not less than 30 days and not more than 3 months | $0.40 for every $2000, or part |\n| Money repayable at or after the expiration of not less than 3 months and not more than 6 months | $0.80 for every $2000, or part |\n\nMoney repayable at call after a specified period is taken to be money repayable at the expiration of that period.\n\nS. 172(3C) inserted by No. 113/2003 s. 3(3).\n\n(3C) A mortgage referred to in subsection (2)(b) is taken to be duly stamped for the amount disclosed in a statutory declaration referred to in subsection (3) or (3B).\n\nS. 172(3D) inserted by No. 113/2003 s. 3(3).\n\n(3D) Any further advance in respect of subscriptions made on or after 16 August 2003 is subject to duty under section 154.\n\n(4) If a person resident or domiciled in Victoria becomes the holder of a debenture referred to in this section that was subscribed for outside Victoria, the debenture is chargeable, on the date on which that person becomes the holder of the debenture, with an amount of duty under this Part equal to the amount of duty that would be chargeable under this Part (other than under this subsection) if the debenture had been issued on that date unless ad valorem duty has been paid or is payable in another State or in a Territory in respect of the issue of, or subscription for, the debenture.\n\n(5) In this section, a reference to an amount subscribed for in respect of debentures includes a reference to an amount represented by debentures issued on the conversion or renewal of an existing holding of debentures or other marketable securities.\n\n","sortOrder":318},{"sectionNumber":"173","sectionType":"section","heading":"Unregistered mortgages protected by caveats (anti‑avoidance provision)","content":"\t173 Unregistered mortgages protected by caveats (anti‑avoidance provision)\n\n(1) A caveat under the **Transfer of Land Act 1958** in which an estate or interest is claimed under an unregistered mortgage is chargeable with duty if the mortgage is chargeable, but not stamped, with mortgage duty.\n\n(2) The amount of duty is the same amount as is chargeable on the mortgage.\n\n(3) The person liable to pay the duty is the mortgagor.\n\n(4) Duty is not chargeable in respect of the caveat if the Commissioner is satisfied that a sum equal to the amount payable under subsection (2) has been paid on the mortgage to which the caveat relates, or on some other instrument pursuant to the arrangement to which the mortgage relates.\n\n(5) If the caveat has been stamped with ad valorem duty, a mortgage under which an estate or interest is claimed in the caveat may be stamped as a collateral security.\n\n(6) This section does not apply to a caveat lodged in respect of a mortgage that is exempt from mortgage duty under Part 4.\n\n","sortOrder":319},{"sectionNumber":"174","sectionType":"section","heading":"Stamping counterpart or collateral instrument if mortgage is lost, destroyed or cannot be produced","content":"\t174 Stamping counterpart or collateral instrument if mortgage is lost, destroyed or cannot be produced\n\n(1) A counterpart of a mortgage or a collateral security for an amount secured by a mortgage is taken to be the mortgage and may accordingly be stamped or upstamped for mortgage duty purposes if, on application by or on behalf of a person who is a party to the mortgage, the Commissioner is satisfied that—\n\n(a) the mortgage has been lost or destroyed; or\n\n(b) because of being deposited in the Office of Titles or from other reasonable cause, the mortgage cannot conveniently be produced.\n\n(2) For the purposes of subsection (1), a reproduction of a mortgage or a collateral security for an amount secured by a mortgage is taken to be a counterpart of that mortgage if it is purported to be signed by the Registrar of Titles.\n\nS. 174(3) repealed by No. 69/2009 s. 54(Sch. Pt 1 item 17).\n\n","sortOrder":320},{"sectionNumber":"Part 8","sectionType":"part","heading":"Insurance","content":"Chapter 8—Insurance\n\n","sortOrder":321},{"sectionNumber":"175","sectionType":"section","heading":"Imposition of duty","content":"\t175 Imposition of duty\n\n(1) This Chapter charges duty in respect of insurance in accordance with this section.\n\n(2) Part 2 charges duty on the amount of the premium paid in relation to a contract of insurance that effects general insurance (whether or not it also effects other kinds of insurance).\n\n(3) The amount of duty is required to be paid each time a premium is paid in relation to a contract of insurance that effects general insurance.\n\nS. 175(4) repealed by No. 40/2014 s. 4(1)(a).\n\n(5) Part 4 charges duty as set out in section 209.\n\nPart 2—General insurance\n\nDivision 1—Duty in respect of general insurance\n\n\t176 What is general insurance?\n\n(1) ***General insurance*** is any kind of insurance that is applicable to—\n\n(a) property in Victoria; or\n\n(b) a risk, contingency or event concerning an act or omission that, in the normal course of events, may occur within, or partly within, Victoria—\n\nor both.\n\n(2) ***General insurance*** includes insurance effected in respect of trauma or a disabling or incapacitating injury, sickness, condition or disease.\n\nNote to s. 176(2) inserted by No. 40/2014 s. 4(1)(b).\n\nGeneral insurance also includes life insurance policy riders—see section 196B.\n\nS. 176(3) amended by No. 40/2014 s. 4(1)(c).\n\n(3) ***General insurance*** does not include insurance that is exempt from duty by Division 5.\n\n","sortOrder":322},{"sectionNumber":"177","sectionType":"section","heading":"What is a premium in relation to general insurance?","content":"\t177 What is a premium in relation to general insurance?\n\n(1) ***Premium***, in relation to general insurance, means the total consideration given to an insurer or an insurance intermediary by or on behalf of the insured person to effect insurance without deductions for any amounts paid or payable, or allowed or allowable, by way of commission to the insurance intermediary.\n\n(2) ***Premium*** includes a fire service levy paid or payable in connection with insurance by an insurer or any other person.\n\nS. 177(2A) inserted by No. 58/2003 s. 14.\n\n(2A) ***Premium*** also includes any amount in respect of GST on the supply to which the insurance relates.\n\n(3) ***Premium*** does not include—\n\n(a) an amount paid to an insurance intermediary by the insured person as a fee, provided that the amount can be clearly identified as a fee; or\n\n(b) an amount of duty under this or a corresponding Act.\n\n(4) It is immaterial where the amount is paid or where the insurance is effected.\n\n","sortOrder":323},{"sectionNumber":"178","sectionType":"section","heading":"When is a premium paid?","content":"\t178 When is a premium paid?\n\n(1) A premium, or an instalment of a premium, is paid for the purposes of this Chapter when the first of the following events occurs—\n\n(a) the premium or instalment is received by the insurer; or\n\n(b) an account of the insurer is credited with the amount of the premium or instalment.\n\n(2) A premium or instalment of a premium (apart from the case where the premium or instalment is received directly by an insurer) is taken to have been received by an insurer if it is received by another person on the insurer's behalf.\n\nS. 179 substituted by No. 18/2023 s. 21.\n\n","sortOrder":324},{"sectionNumber":"179","sectionType":"section","heading":"What duty is payable","content":"\t179 What duty is payable\n\n(1) The amount of duty chargeable on the premium paid in relation to a contract of insurance, other than a contract of business insurance, is 10% of the amount of the premium.\n\n(2) The amount of duty chargeable on the premium paid in relation to a contract of business insurance is the percentage specified in subsection (4) of the amount of the premium.\n\n(3) If a contract of insurance relates to both business insurance and insurance other than business insurance, the premium is to be apportioned and duty imposed—\n\n(a) in accordance with subsection (1) on the portion of the premium that relates to insurance other than business insurance; and\n\n(b) in accordance with subsection (2) on the portion of the premium that relates to business insurance.\n\n(4) For the purpose of subsection (2), the percentage in relation to a contract of insurance that is effected or renewed within the date range specified in Column 1 of the following Table is the corresponding percentage specified in Column 2 of the following Table—\n\n**Table**\n\n| *Column 1* | *Column 2* |\n| *Date* | *Percentage* |\n| On or before 30 June 2024 | 10% |\n| 1 July 2024 to 30 June 2025 | 9% |\n| 1 July 2025 to 30 June 2026 | 8% |\n| 1 July 2026 to 30 June 2027 | 7% |\n| 1 July 2027 to 30 June 2028 | 6% |\n| 1 July 2028 to 30 June 2029 | 5% |\n| 1 July 2029 to 30 June 2030 | 4% |\n| 1 July 2030 to 30 June 2031 | 3% |\n| 1 July 2031 to 30 June 2032 | 2% |\n| 1 July 2032 to 30 June 2033 | 1% |\n| On or after 1 July 2033 | 0% |\n\nS. 180 amended by No. 40/2014 s. 4(1)(d).\n\n","sortOrder":325},{"sectionNumber":"180","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t180 Who is liable to pay the duty?\n\nThe insurer is liable to pay the duty, except as provided by section 181.\n\n","sortOrder":326},{"sectionNumber":"181","sectionType":"section","heading":"Circumstances in which duty is payable by the insured person","content":"\t181 Circumstances in which duty is payable by the insured person\n\n(1) This section applies to a person who obtains, effects, or renews any general insurance as an insured person with a person who is not a registered insurer.\n\n(2) A person to whom this section applies must, within 21 days after the end of the month in which the premium relating to the insurance is paid to an insurer (not being a registered insurer) or insurance intermediary—\n\n(a) lodge a return with the Commissioner containing the particulars and information as to the premium and the insurance that the Commissioner requires; and\n\n(b) pay to the Commissioner as duty the amount calculated in accordance with section 179.\n\n(3) A person to whom this section applies is taken to have complied with this section if the person's duty under this section is discharged by another person acting on the person's behalf.\n\n","sortOrder":327},{"sectionNumber":"182","sectionType":"section","heading":"Records to be kept","content":"\t182 Records to be kept\n\nA person to whom section 181 applies must keep records that contain information as to—\n\n(a) the nature and location of the property insured; and\n\n(b) the nature and location of each risk, contingency or event insured; and\n\n(c) the amount of the premiums paid in relation to each contract of insurance.\n\n","sortOrder":328},{"sectionNumber":"183","sectionType":"section","heading":"Refunds where premiums are returned","content":"\t183 Refunds where premiums are returned\n\nS. 183(1) substituted by No. 40/2014 s. 4(2).\n\n(1) An insurer or a person to whom section 181 applies is entitled to a refund of duty if the insurer refunds, or there is refunded to the person, the whole or a part of a dutiable premium in respect of the contract of insurance for which duty has been paid.\n\n(2) The refund is the duty paid on the amount of the premium refunded.\n\nS. 183(3) substituted by No. 40/2014 s. 4(3).\n\n(3) An insurer to whom duty is refunded may apply the amount of the refund to offset any other payment required to be made under this Act by the insurer.\n\nS. 183(4) inserted by No. 58/2003 s. 15, amended by No. 40/2014 s. 4(4)(a)(i).\n\n(4) As an alternative to applying for a refund under Part 4 of the **Taxation Administration Act 1997**, an insurer may offset an amount equivalent to the amount of refund to which the insurer is entitled under subsection (1) against any other payment required to be made under this Act by the insurer.\n\nS. 183(5) inserted by No. 58/2003 s. 15, amended by No. 40/2014 s. 4(4)(a)(ii).\n\n(5) Subsection (4) only applies if the insurer—\n\nS. 183(5)(a) amended by No. 40/2014 s. 4(4)(a)(ii).\n\n(a) has not charged to, or recovered from, any other person any amount in respect of the whole or any part of the duty to which the insurer is entitled to a refund; or\n\nS. 183(5)(b) amended by No. 40/2014 s. 4(4)(a)(ii).\n\n(b) has refunded or reimbursed each person for the amount charged to or recovered from that person in respect of the duty to which the insurer is entitled to a refund.\n\nS. 183(6) inserted by No. 58/2003 s. 15.\n\n(6) Subsections (4) and (5) apply despite anything to the contrary in section 18(2) of the **Taxation Administration Act 1997**.\n\nCh. 8 Pt 2 Div. 2 (Heading) amended by No. 40/2014 s. 4(4)(b).\n\nDivision 2—How duty is paid by an insurer\n\nS. 184 amended by No. 46/2001 s. 18(a), substituted by Nos 40/2014 s. 5, 46/2019 s. 7.\n\n","sortOrder":329},{"sectionNumber":"184","sectionType":"section","heading":"Who is an *insurer*?","content":"\t184 Who is an *insurer*?\n\nAn ***insurer*** is a person—\n\n(a) who writes general insurance; and\n\n(b) who does so otherwise than as an insurance intermediary.\n\nS. 185 amended by Nos 13/2013 s. 56(1), 40/2014 s. 6(a)(b), substituted by No. 46/2019 s. 7.\n\n","sortOrder":330},{"sectionNumber":"185","sectionType":"section","heading":"Certain insurers must be registered","content":"\t185 Certain insurers must be registered\n\nAn insurer must be registered under this Part if the insurer is a person who is—\n\n(a) authorised under the Insurance Act 1973 of the Commonwealth to carry on insurance business; or\n\n(b) registered under the Life Insurance Act 1995 of the Commonwealth.\n\nPenalty: 100 penalty units.\n\nS. 186 amended by No. 40/2014 s. 6(c), substituted byNo. 46/2019 s. 7.\n\n","sortOrder":331},{"sectionNumber":"186","sectionType":"section","heading":"Registration","content":"\t186 Registration\n\nThe Commissioner must register an insurer who is required to be registered under this Part if the insurer applies in the approved form for registration.\n\n","sortOrder":332},{"sectionNumber":"187","sectionType":"section","heading":"Cancellation of registration by the Commissioner","content":"\t187 Cancellation of registration by the Commissioner\n\nS. 187(1) amended by No. 40/2014 s. 6(d)(i).\n\n(1) The Commissioner may, by written notice, cancel an insurer's registration under this Part—\n\nS. 187(1)(a) substituted by No. 9/2002 s. 3(Sch. item 4.3), amended by No. 40/2014 s. 6(d)(ii).\n\n(a) if the insurer's authorisation under the Insurance Act 1973 of the Commonwealth is revoked or the insurer's registration under the Life Insurance Act 1995 of the Commonwealth is cancelled (as the case requires); or\n\n(b) if the insurer is made bankrupt or, being a company, is wound up; or\n\n(c) if the insurer is convicted of an offence under an Act imposing duty; or\n\n(d) if the insurer's registration was made in error or because of a false or misleading statement made in relation to the application for registration; or\n\n(e) if the Commissioner is of the opinion that the insurer has ceased to write general insurance; or\n\n(f) for any other reason the Commissioner thinks sufficient.\n\n(2) A cancellation of registration has effect from the date specified for the purpose by the Commissioner in the notice of cancellation.\n\nS. 188 (Heading) inserted by No. 40/2014 s. 6(e).\n\n","sortOrder":333},{"sectionNumber":"188","sectionType":"section","heading":"Cessation of business and cancellation of registration by the insurer","content":"\t188 Cessation of business and cancellation of registration by the insurer\n\n(1) A registered insurer who ceases to write general insurance in Victoria—\n\n(a) must, within 14 days after so ceasing—\n\n(i) give written notice of that fact to the Commissioner; and\n\n(ii) lodge the return required to be lodged under this Part; and\n\n(b) must pay the duty payable in connection with the return on or before the 21st day of the month after which the notice is given.\n\ns. 188(1) inserted by No. 13/2013 s. 56(2).\n\n(2) The notice cancels the insurer's registration under this Part on the day on which it is received by the Commissioner.\n\nS. 189 (Heading) inserted by No. 40/2014 s. 6(f).\n\n","sortOrder":334},{"sectionNumber":"189","sectionType":"section","heading":"Register of insurers","content":"\t189 Register of insurers\n\nS. 189(1) amended by No. 40/2014 s. 6(g).\n\n(1) The Commissioner must keep a register of the insurers who are registered under this Part.\n\n(2) Anyone may inspect the register without charge at the Commissioner's principal office during the hours that the office is open to the public.\n\n","sortOrder":335},{"sectionNumber":"190","sectionType":"section","heading":"Monthly returns and payment of duty","content":"\t190 Monthly returns and payment of duty\n\nA registered insurer must, on or before the 21st day of each month—\n\n(a) lodge a return with the Commissioner showing the total amount of all premiums for insurance paid to the registered insurer in the preceding month; and\n\n(b) pay to the Commissioner as duty the amounts determined in accordance with section 179.\n\n","sortOrder":336},{"sectionNumber":"191","sectionType":"section","heading":"Recovery of duty by registered insurer","content":"\t191 Recovery of duty by registered insurer\n\n(1) A registered insurer may require a person by whom a premium is payable to the insurer to pay the insurer an amount equal to the duty chargeable.\n\n(2) The requirement is duly made if it is contained in a written request that is given to the person and that specifies the amount of the duty.\n\n(3) If the amount is not paid, the insurer may recover it as a debt.\n\nDivision 3—Apportionment of premiums and other amounts between States and Territories\n\n","sortOrder":337},{"sectionNumber":"192","sectionType":"section","heading":"Application of Division","content":"\t192 Application of Division\n\n(1) This Division applies to a contract of insurance that insures—\n\n(a) property in Victoria as well as property in another place; or\n\n(b) a risk, contingency or event concerning an act or omission that, in the normal course of events, may occur within, or partly within, Victoria as well as within, or partly within, another place—\n\nor both.\n\n(2) It is the intention of this Division—\n\n(a) to provide the means for apportioning premiums paid and other amounts in relation to a contract of insurance having regard to the principle in section 176(1); and\n\n(b) to avoid multiple duty as between the States and Territories; and\n\n(c) to give each State and Territory its appropriate share of duty by means of the apportionment.\n\n","sortOrder":338},{"sectionNumber":"193","sectionType":"section","heading":"Schedule of Apportionment","content":"\t193 Schedule of Apportionment\n\n(1) The Commissioner may, from time to time, adopt a Schedule of Apportionment for the purpose of apportioning premiums and other amounts in relation to insurance in accordance with this Part.\n\n(2) The Schedule of Apportionment may be developed in consultation with any person the Commissioner considers suitable.\n\n","sortOrder":339},{"sectionNumber":"194","sectionType":"section","heading":"Apportionment in practice","content":"\t194 Apportionment in practice\n\n(1) A premium or an amount is to be apportioned in accordance with the Schedule of Apportionment adopted for the time being, except as provided by this section.\n\nS. 194(2) amended by No. 40/2014 s. 6(h).\n\n(2) An insurer or an insured person may apply in writing to the Commissioner to apportion a premium or an amount on a basis other than that provided by the Schedule of Apportionment. The Commissioner may apportion the premium or amount on the other basis.\n\n(3) In particular, if the Commissioner is not satisfied that a premium paid or another amount in relation to a contract of insurance has been properly apportioned for each risk insured, the Commissioner may determine the apportionment, reassess the liability to duty and charge duty accordingly.\n\nDivision 4—Apportionment of premiums and other amounts as between different types of insurance\n\n","sortOrder":340},{"sectionNumber":"195","sectionType":"section","heading":"Apportionment between different types of insurance","content":"\t195 Apportionment between different types of insurance\n\nS. 195(1) amended by No. 40/2014 s. 6(i).\n\n(1) This Division applies to apportionment between different types of insurance that are relevant to determining liability for duty, such as general insurance and insurance that is exempt from duty. It does not apply to the apportionment of a premium or another amount between Victoria and another place. Division 3 deals with that kind of apportionment.\n\n(2) If the Commissioner is not satisfied that a premium paid or another amount in relation to a contract of insurance that effects different types of insurance has been properly apportioned, the Commissioner may determine the apportionment, reassess the liability to duty and charge duty accordingly.\n\nDivision 5—Exempt insurance\n\nS. 196 amended by No. 50/2024 s. 31(2) (ILA s. 39B(1)).\n\n","sortOrder":341},{"sectionNumber":"196","sectionType":"section","heading":"What insurance is exempt from duty?","content":"\t196 What insurance is exempt from duty?\n\n(1) The following insurances are exempt from duty under this Chapter—\n\nS. 196(1)(a) amended by No. 26/2015 s. 9.\n\n(a) medical benefits insurance, being insurance effected by a contract of insurance that is issued by a private health insurer within the meaning of the Private Health Insurance Act 2007 of the Commonwealth and that provides hospital benefits or medical benefits (or both), whether or not other benefits are also provided;\n\n(b) accident compensation or workers compensation insurance, being insurance—\n\nS. 196(1)(b)(i) repealed by No. 67/2013 s. 649(Sch. 9 item 12(a)).\n\nS. 196(1)(b)(ii) amended by No. 67/2013 s. 649(Sch. 9 item 12(b)).\n\n(ii) undertaken by the Victorian WorkCover Authority for the purpose of providing accident insurance within the meaning of section 494 of the **Workplace Injury Rehabilitation and Compensation Act 2013**; or\n\n(iii) that indemnifies an employer against liability in relation to workers compensation under the **Workers Compensation Act 1958** or under any other Act or at common law or otherwise; or\n\nS. 196(1)(b)(iv) amended by No. 67/2013 s. 649(Sch. 9 item 12(c)).\n\n(iv) that indemnifies the Victorian WorkCover Authority against liability under Part IV of the **Accident Compensation Act 1985** or the **Workplace Injury Rehabilitation and Compensation Act 2013**; or\n\nS. 196(1)(b)(v) amended by No. 67/2013 s. 649(Sch. 9 item 12(d)).\n\n(v) that indemnifies a self-insurer within the meaning of the **Workplace Injury Rehabilitation and Compensation Act 2013** against liability in relation to workers compensation under that or any other Act or at common law or otherwise;\n\n(c) insurance of—\n\n(i) the physical hull of a floating vessel used primarily for commercial purposes;\n\n(ii) goods or merchandise, or the freight of goods or merchandise, carried by land, sea or air;\n\n(d) reinsurance (being a contract or contracts between 2 parties by which one party indemnifies the other against liability or payment under a contract or contracts of insurance or reinsurance) in respect of which duty has been paid under this Act or a corresponding Act;\n\nS. 196(1)(e) substituted by No. 28/2017 s. 45.\n\n(e) crop insurance, being insurance covering loss due to the destruction of, or physical damage to, any crop of grain, fruit, vegetable or other plant, where the destruction or damage occurs while the crop is being grown, harvested or stored;\n\nS. 196(1)(ea) inserted by No. 28/2017 s. 45.\n\n(ea) agricultural machinery insurance, being insurance covering the breakdown of, or physical damage to, a harvester, binder, tractor, plough or other agricultural implement or any equipment associated with any such agricultural machinery;\n\nS. 196(1)(eb) inserted by No. 28/2017 s. 45.\n\n(eb) livestock insurance, being insurance covering loss due to any of the following—\n\n(i) the death of, or physical damage to, any animal, bee or bird, whether domesticated or wild, or any egg intended for hatching, including where the death or damage occurs while the animal, bee, bird or egg is being stored;\n\n(ii) the death of, or physical damage to, any genetic material of any livestock referred to in paragraph (i), including where the death or damage occurs while the genetic material is being stored;\n\n(iii) the theft of any livestock referred to in paragraph (i) or any genetic material referred to in paragraph (ii);\n\n(f) a private fidelity guarantee insurance scheme promoted amongst and sustained solely for the benefit of the members, officers and employees, or a class of members, officers and employees, of a government department, public authority, body corporate, individual or firm and not extending beyond such members, officers and employees;\n\nS. 196(1)(g) amended by No. 40/2014 s. 6(j), substituted by No. 50/2024 s. 31(1).\n\n(g) insurance undertaken by a friendly society that meets the requirements in subsection (2);\n\nS. 196(1)(h) inserted by No. 40/2014 s. 6(k).\n\n(h) life insurance.\n\nS. 196(2) inserted by No. 50/2024 s. 31(2).\n\n(2) For the purposes of subsection (1)(g), the requirements are—\n\n(a) that the society has 25 or more members who are natural persons; and\n\n(b) that the objects of the society, as specified in its rules, include one or more of the primary objects referred to in section 56 of the Friendly Societies (Victoria) Code as in force immediately before the repeal of the **Friendly Societies (Victoria) Act 1996**; and\n\n(c) that the dominant activities of the society are within the scope of the primary objects included in the rules of the society.\n\nS. 196A inserted by No. 40/2014 s. 7.\n\n","sortOrder":342},{"sectionNumber":"196A","sectionType":"section","heading":"Life insurance","content":"\t196A Life insurance\n\n(1) Subject to section 196B, ***life insurance*** is any insurance in respect of—\n\n(a) a life or lives; or\n\n(b) an event or contingency relating to or depending on a life or lives—\n\nof a person who is, or persons who are, domiciled in Victoria at the time the insurance policy is issued, but does not include insurance against accident.\n\n(2) ***Insurance against accident*** is any insurance under which payment is agreed to be made on the death of a person only from accident or violence or otherwise from a natural cause or as compensation for personal injury.\n\nS. 196B inserted by No. 40/2014 s. 7.\n\n","sortOrder":343},{"sectionNumber":"196B","sectionType":"section","heading":"Life insurance policy riders","content":"\t196B Life insurance policy riders\n\n(1) This section does not apply to a policy of life insurance unless the insured person is, or the insured persons are, domiciled in Victoria.\n\n(2) If a policy of life insurance, in addition to providing the insurance referred to in section 196A(1), also provides for the payment of a benefit on the occurrence of a contingency or event that does not relate to or depend on a life or lives (the ***additional insurance***), then the additional insurance provided under or in accordance with the policy is taken to be general insurance and not life insurance.\n\n(3) Subsection (2) applies—\n\n(a) whether or not the life insurance and the additional insurance are separate or distinct matters; and\n\n(b) whether or not payment of a benefit under the additional insurance component of the policy—\n\n(i) will or may reduce the benefit payable under the life insurance component of the policy; or\n\n(ii) will or may terminate the policy.\n\n(4) If—\n\n(a) there is no separately identifiable part of the premium payable in respect of the policy attributable to the additional insurance; or\n\n(b) in the Commissioner's opinion, the identified part of the premium attributable to the additional insurance does not appear to correctly reflect the additional insurance—\n\nthe Commissioner may determine the amount or proportion of the premium attributable to the additional insurance.\n\nDivision 6—Miscellaneous\n\n","sortOrder":344},{"sectionNumber":"197","sectionType":"section","heading":"Effect on contract of insurance of failure to comply with this Chapter","content":"\t197 Effect on contract of insurance of failure to comply with this Chapter\n\nA failure to comply with this Chapter does not render a contract of insurance illegal or invalid.\n\nCh. 8 Pt 3 (Heading and ss 198–208) amended by Nos 46/2001 s. 18(b)(c), 37/2009 s. 10, 13/2013 s. 56(2)(4), repealed by No. 40/2014 s. 8.\n\nPart 4—Transport accident charges\n\n","sortOrder":345},{"sectionNumber":"209","sectionType":"section","heading":"Imposition of duty","content":"\t209 Imposition of duty\n\nThis Part charges duty on transport accident charges applicable to motor vehicles under Part 7 of the **Transport Accident Act 1986**.\n\n","sortOrder":346},{"sectionNumber":"210","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t210 Who is liable to pay the duty?\n\nDuty under this Part is payable by the Transport Accident Commission.\n\n","sortOrder":347},{"sectionNumber":"211","sectionType":"section","heading":"Rate of duty","content":"\t211 Rate of duty\n\nThe rate of duty is 10%.\n\n","sortOrder":348},{"sectionNumber":"212","sectionType":"section","heading":"How is duty paid?","content":"\t212 How is duty paid?\n\nThe Transport Accident Commission must, on or before Wednesday in each week—\n\n(a) lodge a return with the Commissioner showing the total amount of transport accident charges paid into the Transport Accident Fund during the week ending on the preceding Saturday; and\n\n(b) pay to the Commissioner the duty payable on those charges under this Part.\n\n","sortOrder":349},{"sectionNumber":"213","sectionType":"section","heading":"Refund of duty if transport accident charge is refunded","content":"\t213 Refund of duty if transport accident charge is refunded\n\nThe Transport Accident Commission is entitled to a refund of duty if it refunds the whole or part of a transport accident charge in respect of which duty has been paid under this Part.\n\n","sortOrder":350},{"sectionNumber":"Part 9","sectionType":"part","heading":"Motor vehicle duty","content":"Chapter 9—Motor vehicle duty\n\n","sortOrder":351},{"sectionNumber":"214","sectionType":"section","heading":"Imposition of duty","content":"\t214 Imposition of duty\n\n(1) This Chapter charges duty on—\n\n(a) an application for registration of a motor vehicle under the **Road Safety Act 1986** if—\n\n(i) the vehicle has not previously been registered under that Act; or\n\n(ii) the person in whose name the vehicle is to be registered differs from the person in whose name the vehicle was last registered under that Act; and\n\n(b) an application for transfer of registration of a motor vehicle under the **Road Safety Act 1986**.\n\n(2) This Chapter also charges duty in the circumstances set out in Part 4.\n\n","sortOrder":352},{"sectionNumber":"215","sectionType":"section","heading":"Lodgement of statement of dutiable value","content":"\t215 Lodgement of statement of dutiable value\n\n(1) A person who is required by law to make or lodge an application for registration or transfer of registration of a motor vehicle under the **Road Safety Act 1986** must lodge with the application a statement of the dutiable value of the motor vehicle, unless the application is not chargeable with duty under this Chapter.\n\nS. 215(2) substituted by No. 30/2002 s. 9(1).\n\n(2) A person who knowingly states in a statement of dutiable value a value that is less than the dutiable value of the motor vehicle is liable to a penalty of an amount equal to double the difference between the amount of duty payable on the correct dutiable value and the amount of duty paid.\n\nS. 215(3) inserted by No. 30/2002 s. 9(1).\n\n(3) The penalty imposed by subsection (2) is in addition to any penalty tax and interest payable under the **Taxation Administration Act 1997**.\n\nS. 215(4) inserted by No. 30/2002 s. 9(1).\n\n(4) Section 52 of the **Taxation Administration Act 1997** does not apply to the statement of dutiable value.\n\nS. 215(5) inserted by No. 30/2002 s. 9(1).\n\n(5) The Commissioner, in such circumstances as the Commissioner considers appropriate, may remit the penalty imposed by subsection (2) by any amount.\n\n","sortOrder":353},{"sectionNumber":"216","sectionType":"section","heading":"Who is liable to pay the duty?","content":"\t216 Who is liable to pay the duty?\n\n(1) Duty on an application for registration of a motor vehicle is payable by the applicant for registration.\n\nS. 216(2) substituted by No. 30/2002 s. 9(2).\n\n(2) Duty on an application for transfer of registration of a motor vehicle is payable—\n\n(a) in the case of a vehicle acquired from a licensed motor car trader—by the acquirer and the licensed motor car trader, who are jointly and severally liable to pay the duty;\n\n(b) in any other case—by the acquirer of the vehicle.\n\n(3) A person who—\n\nS. 216(3)(a) amended by No. 30/2002 s. 9(3)(a).\n\n(a) acquires a motor vehicle from a licensed motor car trader; and\n\nS. 216(3)(b) amended by No. 30/2002 s. 9(3)(b).\n\n(b) pays to the trader the amount of duty chargeable under this Chapter on the application for transfer of registration of the vehicle to the person—\n\nis relieved from any further liability for duty in respect of the application for transfer of registration.\n\nS. 216(4) inserted by No. 30/2002 s. 9(4).\n\n(4) A person referred to in subsection (3) is entitled to a refund of any amount paid to the licensed motor car trader in respect of duty that is in excess of the amount of duty chargeable under this Chapter on the application for transfer of registration of the vehicle to the person.\n\nS. 217 amended by No. 30/2002 s. 9(5), substituted by No. 85/2005 s. 11.\n\n","sortOrder":354},{"sectionNumber":"217","sectionType":"section","heading":"When does duty become payable?","content":"\t217 When does duty become payable?\n\n(1) Duty becomes payable on the lodging of the application for registration or transfer of registration of the motor vehicle.\n\nNote to s. 217(1) amended by Nos 75/2010 s. 23, 52/2021 s. 47(1).\n\nCurrently the Road Safety (Vehicles) Regulations 2021 contain the requirements for lodgement of applications for registration or transfer of registration of a motor vehicle.\n\n(2) If an application for transfer of registration of a motor vehicle is not lodged within the time required by law, penalty tax and interest are payable under the **Taxation Administration Act 1997** on any duty payable on the application as if the duty had been payable at the time the application was required to be lodged.\n\n(3) In addition to subsection (2), if an application for transfer of registration of a motor vehicle is not lodged within the time required by law, the person required to lodge the application is liable to a further penalty of—\n\n(a) an amount equal to the amount of duty payable on the application and interest on that amount at the rate of 20% per annum from the day on which the application was required to be lodged; or\n\n(4) If an application for transfer of registration of a motor vehicle is lodged within the time required by law but duty on the application is not paid on or before the lodging of the application, the person required to lodge the application is liable to a penalty of—\n\n(a) an amount equal to the amount of duty payable on the application and interest on that amount at the rate of 20% per annum from the day on which the application was lodged; or\n\n(5) The penalty imposed by subsection (4) is in addition to any penalty tax and interest payable under the **Taxation Administration Act 1997**.\n\n(6) The Commissioner, in such circumstances as the Commissioner considers appropriate, may remit the penalty imposed by subsection (3) or (4) by any amount.\n\nS. 217A inserted by No. 30/2002 s. 10.\n\n","sortOrder":355},{"sectionNumber":"217A","sectionType":"section","heading":"Assessment of duty","content":"\t217A Assessment of duty\n\nS. 217A(1) amended by No. 85/2005 s. 12(a).\n\n(1) On the lodging of an application for registration or transfer of registration of a motor vehicle—\n\n(a) the Commissioner is taken to have made an assessment of duty on the application; and\n\n(b) the application is taken to be a notice of assessment of the duty; and\n\n(c) the Commissioner is taken to have served the notice of assessment on the person who is liable to pay the duty.\n\n(2) The liability for duty on the application is the amount worked out by applying the rate of duty to the dutiable value of the vehicle as at the date of the application.\n\nS. 218 amended by No. 58/2003 s. 16 (ILA s. 39B(1)).\n\n","sortOrder":356},{"sectionNumber":"218","sectionType":"section","heading":"What is the rate of duty?","content":"\t218 What is the rate of duty?\n\nS. 218(1)  amended by Nos 71/2004 s. 19, 22/2007 s. 4, 36/2010 s. 9(1), 42/2012 s. 6, 40/2014 s. 10, 28/2017 s. 46, substituted by No. 17/2019 s. 17.\n\n(1) The rate of duty on an application for registration or transfer of registration of a motor vehicle that is a passenger car is as set out in the Table.\n\n| *Item* | *Motor vehicle* | *Rate of duty per $200, or part, of the dutiable value of the motor vehicle* |\n| 1 | Green car | $8.40 |\n| 2 | Primary producer passenger car | $8.40 |\n| 3 | Other passenger car the dutiable value of which does not exceed the luxury car tax threshold | $8.40 |\n| 4 | Other passenger car the dutiable value of which exceeds the luxury car tax threshold but does not exceed $100 000 | $10.40 |\n| 5 | Other passenger car the dutiable value of which exceeds $100 000 but does not exceed $150 000 | $14.00 |\n| 6 | Other passenger car the dutiable value of which exceeds $150 000 | $18.00 |\n\nS. 218(1A)  inserted by No. 17/2019 s. 17.\n\n(1A) The rate of duty on an application for registration of a motor vehicle that is not a passenger car is—\n\n(a) if the motor vehicle has not previously been registered in Victoria or elsewhere—$5.40 per $200, or part, of the dutiable value of the motor vehicle; or\n\n(b) if the motor vehicle has previously been registered in Victoria or elsewhere—$8.40 per $200, or part, of the dutiable value of the motor vehicle.\n\nS. 218(1B)  inserted by No. 17/2019 s. 17.\n\n(1B) The rate of duty on an application for transfer of registration of a motor vehicle that is not a passenger car is $8.40 per $200, or part, of the dutiable value of the motor vehicle.\n\nS. 218(2) inserted by No. 58/2003 s. 16.\n\n(a) an application for registration or transfer of registration of a motor vehicle is made by a person who has a physical disability; and\n\n(b) the motor vehicle is modified to enable the person to drive the vehicle—\n\nthe amount of duty is to be reduced by the reasonable cost of the modification of the vehicle.\n\nS. 218(3) inserted by No. 58/2003 s. 16.\n\n(3) If the reasonable cost of the modification of a motor vehicle referred to in subsection (2) is greater than the amount of duty chargeable (but for that subsection) on an application for registration or transfer of registration of the vehicle, no duty is chargeable on the application.\n\nS. 218(4) inserted by No. 58/2003 s. 16.\n\n(4) For the purposes of subsections (2) and (3), the reasonable cost of the modification of a motor vehicle is the lower of—\n\n(a) the actual cost of the modification;\n\n(b) the price payable in the open market for the modification.\n\nS. 218(5) inserted by No. 36/2010 s. 9(2).\n\n(5) In this section ***luxury car tax threshold*** has the same meaning as it has in section 25-1 of the A New Tax System (Luxury Car Tax) Act 1999 of the Commonwealth as if section 25-1(4) of that Act did not apply.\n\n","sortOrder":357},{"sectionNumber":"219","sectionType":"section","heading":"What is the dutiable value of a motor vehicle?","content":"\t219 What is the dutiable value of a motor vehicle?\n\n(1) Subject to subsection (2), the ***dutiable value*** of a motor vehicle is—\n\n(a) the consideration in money or money's worth given for the acquisition of the vehicle; or\n\n(b) the price at which the vehicle might reasonably be sold, free from encumbrances, in the open market—\n\n(2) The dutiable value of a motor vehicle that—\n\nS. 219(2)(a) amended by No. 6/2010 s. 203(1)  \n(Sch. 6 item 13.3) (as amended by No. 45/2010 s. 22), substituted by No. 63/2017 s. 21(Sch. 1 item 2.1).\n\n(a) is a commercial passenger vehicle (within the meaning of the **Commercial Passenger Vehicle Industry Act 2017**); and\n\n(b) is specially converted to provide wheelchair access to and egress from the vehicle; and\n\n1. is capable of carrying at least one occupied wheelchair; and\n\n(d) has not previously been registered in Victoria or elsewhere—\n\nis the value determined in accordance with subsection (1) less $24 000 or such other amount as is prescribed.\n\nS. 219(3) inserted by No. 58/2003 s. 17.\n\n(3) In determining the dutiable value of a motor vehicle, there is to be no discount for the amount of GST (if any) payable on the supply of the vehicle.\n\n","sortOrder":358},{"sectionNumber":"220","sectionType":"section","heading":"Prohibition on registration of motor vehicles","content":"\t220 Prohibition on registration of motor vehicles\n\n(1) The registration authority must not register a motor vehicle unless—\n\n(a) a statement of the dutiable value of the vehicle is lodged in accordance with section 215 and duty is duly paid on the application; or\n\n(b) the application for registration of the vehicle is not chargeable with duty under this Chapter.\n\n(2) In this section ***registration authority*** means the person who has the responsibility for the registration of motor vehicles in Victoria.\n\nCh. 9 Pt 2 (Heading and ss 221–228) repealed by No. 30/2002 s. 11(a).\n\nPart 3—Exemptions\n\n","sortOrder":359},{"sectionNumber":"229","sectionType":"section","heading":"Ownership by devolution of title and deceased estates","content":"\t229 Ownership by devolution of title and deceased estates\n\nS. 229(1) amended by No. 85/2005 s. 12(b).\n\n(1) No duty is chargeable under this Chapter on an application for transfer of registration of a motor vehicle lodged by a person who is beneficially entitled to the vehicle following the death of the person in whose name the vehicle was registered in Victoria.\n\nS. 229(2) amended by Nos 27/2001 s. 3(Sch. 1 item 2.8), 85/2005 s. 12(b).\n\n(2) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a motor vehicle lodged by a surviving spouse or domestic partner who has acquired the vehicle through an entitlement to the whole or part of the estate of the deceased spouse or domestic partner.\n\nS. 229(3) amended by No. 85/2005 s. 12(b).\n\n(3) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a motor vehicle lodged by the executor or administrator of a deceased estate for the purpose of—\n\n(a) subsequently transferring the vehicle to a person who is beneficially entitled to it; or\n\n(b) enabling the subsequent sale of the vehicle in the course of winding up the estate.\n\nS. 230 (Heading) inserted by No. 30/2002 s. 11(b).\n\n","sortOrder":360},{"sectionNumber":"230","sectionType":"section","heading":"Special dealers—trading stock, demonstrator vehicles and driver education","content":"\t230 Special dealers—trading stock, demonstrator vehicles and driver education\n\nS. 230(1) amended by No. 30/2002 s. 11(c).\n\n(1) No duty is chargeable under this Chapter on an application by a special dealer who carries on a business of dealing in motor vehicles for transfer of registration of a motor vehicle—\n\n(a) in the course of, and for the purpose of carrying on that business; and\n\n(b) solely for the purpose of the sale of the motor vehicle.\n\nS. 230(2) amended by No. 30/2002 s. 11(c).\n\n(2) No duty is chargeable under this Chapter on an application by a special dealer who carries on a business of dealing, for the purpose of sale by retail, in motor vehicles for transfer of registration of a motor vehicle—\n\n(a) in the course of, and for the purpose of carrying on that business and solely or primarily for the purpose of either or both of the following—\n\n(i) the sale of the motor vehicle;\n\nS. 230(2)(a)(ii) substituted by No. 33/2007 s. 7.\n\n(ii) the use of the motor vehicle as a demonstrator vehicle; or\n\n(b) solely or primarily for the purpose of the provision of the motor vehicle to a secondary educational institution for use for driver education purposes.\n\nS. 231 (Heading) inserted by No. 17/2019 s. 18(1).\n\n","sortOrder":361},{"sectionNumber":"231","sectionType":"section","heading":"Licensed motor car traders—trading stock, demonstrator vehicles, service demonstrator vehicles and driver education","content":"\t231 Licensed motor car traders—trading stock, demonstrator vehicles, service demonstrator vehicles and driver education\n\nS. 231(1) amended by No. 30/2002 s. 11(d).\n\n(1) No duty is chargeable under this Chapter on an application by a licensed motor car trader who carries on a business of dealing in motor vehicles for registration or transfer of registration of a motor vehicle—\n\n(a) in the course of, and for the purpose of carrying on that business; and\n\n(b) solely for the purpose of the sale of the motor vehicle.\n\nS. 231(2) amended by No. 30/2002 s. 11(d).\n\n(2) No duty is chargeable under this Chapter on an application by a licensed motor car trader who carries on a business of dealing, for the purpose of sale by retail, in motor vehicles for registration or transfer of registration of a motor vehicle—\n\nS. 231(2)(a) amended by No. 17/2019 s. 18(2)(a).\n\n(a) in the course of, and for the purpose of carrying on that business and solely or primarily for the purpose of one or more of the following—\n\n(i) the sale of the motor vehicle;\n\nS. 231(2)(a)(ii) substituted by No. 71/2004 s. 20, amended by No. 17/2019 s. 18(2)(b).\n\n(ii) the use of the motor vehicle as a demonstrator vehicle;\n\nS. 231(2)(a)(iii) inserted by No. 17/2019 s. 18(2)(c).\n\n(iii) the use of the motor vehicle as a service demonstrator vehicle; or\n\n(b) solely or primarily for the purpose of the provision of the motor vehicle to a secondary educational institution for use for driver education purposes.\n\n","sortOrder":362},{"sectionNumber":"232","sectionType":"section","heading":"Applications by interstate licensed motor car traders","content":"\t232 Applications by interstate licensed motor car traders\n\nS. 232(1) amended by No. 85/2005 s. 12(b).\n\n(1) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a motor vehicle lodged by a person who holds a licence under a law of another State or a Territory that corresponds to the **Motor Car Traders Act 1986** but does not hold a licence under that Act.\n\nS. 232(2) amended by No. 85/2005 s. 12(b).\n\n(2) Subsection (1) does not apply unless the application is lodged in the course of carrying out the business to which the licence relates.\n\nS. 233 substituted by No. 85/2005 s. 13.\n\n","sortOrder":363},{"sectionNumber":"233","sectionType":"section","heading":"Primary producer vehicles","content":"\t233 Primary producer vehicles\n\n(1) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a heavy trailer—\n\n(a) registered or to be registered in the name of a primary producer; and\n\n(b) used or to be used solely in the business of the registered operator as a primary producer.\n\n(2) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a vehicle registered or to be registered in the name of a primary producer used or to be used solely in the business of the applicant for registration or the registered operator as a primary producer, being—\n\n(a) a motor vehicle—\n\n(i) so constructed that its engine is used to drive or operate an agricultural implement forming an integral part of the vehicle; and\n\n(ii) the primary purpose of which is not to carry a load; or\n\n(b) a tractor with an MRC of 4·5 tonnes or less; or\n\nS. 233(2)(c) substituted by No. 26/2015 s. 10(1).\n\n(c) a special work vehicle.\n\n(3) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a vehicle registered or to be registered in the name of a primary producer used or to be used for travelling within a radius of 25 kilometres from the registered operator's residence or residential address for the purpose of working the land of another primary producer, being—\n\n(a) a motor vehicle—\n\n(i) so constructed that its engine is used to drive or operate an agricultural implement forming an integral part of the vehicle; and\n\n(ii) the primary purpose of which is not to carry a load; or\n\n(b) a tractor with an MRC of 4·5 tonnes or less; or\n\nS. 233(3)(c) substituted by No. 26/2015 s. 10(2).\n\n(c) a special work vehicle.\n\nS. 233(4) amended by No. 26/2015 s. 10(3).\n\n(4) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a special purpose vehicle (type O) as defined in clause 1 of Schedule 1 that is—\n\n(a) conditionally registered or to be registered in the name of a primary producer to operate on a highway at any distance from the registered operator's residence or residential address; and\n\n(b) used or to be used solely in the business of the registered operator as a primary producer.\n\nS. 233(5) def. of *agricultural implement* substituted by No. 26/2015 s. 10(4)(b).\n\n***agricultural implement*** means—\n\n(a) a vehicle without its own motive power, not designed to carry a load and used exclusively to perform agricultural tasks; or\n\n(b) an agricultural trailer;\n\nS. 233(5) def. of *agricultural task* inserted by No. 26/2015 s. 10(4)(a).\n\n***agricultural task*** includes cultivation of land, growing and harvesting of crops and rearing of livestock;\n\nS. 233(5) def. of *agricultural trailer* inserted by No. 26/2015 s. 10(4)(a).\n\n***agricultural trailer*** means a trailer designed to carry a load and used exclusively to perform agricultural tasks, but does not include—\n\n(a) a semi-trailer; or\n\n(b) a trailer (other than a trailer specifically constructed to carry a boat) that—\n\n(i) is not used in the course of trade; and\n\n(ii) weighs less than 200 kilograms unladen; and\n\n(iii) does not exceed in width the width of its towing vehicle as produced by the manufacturer; and\n\n(iv) is not more than 3·0 metres long, including the part of the trailer that connects the trailer body to a coupling for towing purposes and any load;\n\n***load***, in relation to a vehicle, includes anything that is normally removed from the vehicle when not in use;\n\nS. 233(5) def. of *primary producer* amended by No. 26/2015 s. 10(4)(c), repealed by No. 17/2019 s. 19.\n\nS. 233(5) def. of *primary producer special vehicle* repealed by No. 26/2015 s. 10(4)(d).\n\nS. 233(5) def. of *residential address* amended by No. 26/2015 s. 10(4)(e).\n\n***residential address***, in relation to a company or other body corporate, means its registered office or any place recorded in the register as its residential address or business address;\n\nS. 233(5) def. of *semi-trailer* inserted by No. 26/2015 s. 10(4)(a).\n\n***semi-trailer*** has the same meaning as in the **Road Safety Act 1986**;\n\nS. 233(5) def. of *special work vehicle* inserted by No. 26/2015 s. 10(4)(a).\n\n***special work vehicle*** means a motor vehicle—\n\n(a) with an MRC not exceeding 4·5 tonnes and that is not constructed as a tractor; and\n\n(b) that is primarily constructed and used for off-road transportation; and\n\n(c) that is undertaking agricultural maintenance or service tasks; and\n\n(d) that does not comply with an Australian Design Rule;\n\nS. 233(5) def. of *trailer* inserted by No. 26/2015 s. 10(4)(a).\n\n***trailer*** has the same meaning as in the **Road Safety Act 1986**.\n\nS. 233AA inserted by No. 26/2015 s. 11.\n\n\t233AA Mobile plant\n\nNo duty is chargeable under this Chapter on an application for registration or transfer of registration of a mobile plant as defined in clause 1A of Schedule 1.\n\nS. 233AB inserted by No. 26/2015 s. 11.\n\n\t233AB Special purpose vehicles (type P)\n\nNo duty is chargeable under this Chapter on an application for registration or transfer of registration of a special purpose vehicle (type P) as defined in clause 1B of Schedule 1.\n\nS. 233A inserted by No. 85/2005 s. 13.\n\n","sortOrder":364},{"sectionNumber":"233A","sectionType":"section","heading":"Transport for disabled, handicapped or injured","content":"\t233A Transport for disabled, handicapped or injured\n\nNo duty is chargeable under this Chapter on an application for registration or transfer of registration of a vehicle that—\n\nS. 233A(a) amended by No. 18/2023 s. 22(5).\n\n(a) is registered or to be registered in the name of St John Ambulance Australia (Victoria) Inc and is used for the transport of the disabled, handicapped or injured; or\n\n(b) is registered or to be registered in, and marked with, the name of a corporate or unincorporated body established for a public purpose and not for private gain and is only used for the conveyance of disabled or handicapped people for training, education or employment.\n\nS. 233B inserted by No. 85/2005 s. 13.\n\n","sortOrder":365},{"sectionNumber":"233B","sectionType":"section","heading":"Incapacitated person's vehicle","content":"\t233B Incapacitated person's vehicle\n\nNo duty is chargeable under this Chapter on an application for registration or transfer of registration of a vehicle registered or to be registered in the name of an incapacitated person if—\n\n(a) the vehicle is designed solely for the conveyance of one incapacitated person; and\n\n(b) the person's mobility is seriously impaired; and\n\n(c) the vehicle will not be used to convey any other person.\n\nS. 233C inserted by No. 85/2005 s. 13.\n\n","sortOrder":366},{"sectionNumber":"233C","sectionType":"section","heading":"Private vehicle used to convey incapacitated person","content":"\t233C Private vehicle used to convey incapacitated person\n\nS. 233C(1) amended by No. 52/2021 s. 45.\n\n(1) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a vehicle referred to in subsection (2) or section 233CA(1) that is registered or to be registered in the name of—\n\n(a) an incapacitated person; or\n\nS. 233C(1)(b) amended by No. 41/2013 s. 26(1)(a).\n\n(b) the parent or legal guardian of an incapacitated person who is a minor; or\n\nS. 233C(1)(c) inserted by No. 41/2013 s. 26(1)(b).\n\n(c) a person who is a relative of or a carer for an incapacitated person.\n\n(2) Subsection (1) applies to a vehicle that—\n\n(a) is specially converted to provide wheelchair access to and egress from the vehicle; and\n\n(b) is capable of carrying at least one occupied wheelchair; and\n\n(c) is or is to be used for conveying an incapacitated person whose mobility is seriously impaired; and\n\nS. 233C(2)(d) amended by No. 6/2010 s. 203(1)  \n(Sch. 6 item 13.4) (as amended by No. 45/2010 s. 22), substituted by No. 63/2017 s. 21(Sch. 1 item 2.2).\n\n(d) is not a commercial passenger vehicle (within the meaning of the **Commercial Passenger Vehicle Industry Act 2017**).\n\nS. 233C(3) inserted by No. 41/2013 s. 26(2).\n\n***carer*** has the same meaning as in the **Carers Recognition Act 2012**.\n\nS. 233CA inserted by No. 52/2021 s. 46.\n\n\t233CA Private vehicle to be converted and used to convey incapacitated person\n\n(1) Section 233C(1) applies to a vehicle that the Commissioner is satisfied will meet the requirements in section 233C(2) within 12 months from the application for registration or transfer of registration or a longer period approved by the Commissioner.\n\n(2) A person who has received an exemption from the payment of duty under section 233C(1) for a vehicle referred to in subsection (1) must—\n\n(a) within 30 days of the vehicle meeting the requirements in section 233C(2), provide the Commissioner with evidence of the meeting of those requirements; or\n\n(b) lodge a written notice with the Commissioner within 30 days of becoming aware of any circumstances that may result in a requirement in section 233C(2) not being complied with.\n\n(3) A failure of a person to comply with subsection (2)(b) does not affect the Commissioner's power to exercise a discretion under subsection (1) or to reassess duty under subsection (4).\n\n(4) If a requirement in section 233C(2) is not complied with as required under subsection (1)—\n\n(a) the registration or transfer of registration of the vehicle is chargeable with duty; and\n\n(b) the Commissioner may reassess duty on the registration or transfer of registration accordingly.\n\nS. 233CB inserted by No. 23/2022 s. 12.\n\n233CB Certain wheelchair accessible motor vehicles providing unbooked commercial passenger vehicle services\n\n(1) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a wheelchair accessible motor vehicle if the Commissioner is satisfied that—\n\n(a) the vehicle is registered under Part 3 of the **Commercial Passenger Vehicle Industry Act 2017** and will be lawfully used to provide unbooked commercial passenger vehicle services within the specified period; or\n\n(b) the vehicle will be registered under Part 3 of the **Commercial Passenger Vehicle Industry Act 2017** and will be lawfully used to provide unbooked commercial passenger vehicle services within the specified period.\n\n(2) Subsection (1) does not apply to an application for a transfer of registration that is made 2 years or more after the date on which the vehicle was first registered in Victoria or elsewhere.\n\n(3) A person who has received an exemption from the payment of duty because the Commissioner was satisfied about the matters in subsection (1)(a) must, within the specified period—\n\n(a) provide the Commissioner with evidence that the vehicle is able to be lawfully used to provide unbooked commercial passenger vehicle services; or\n\n(b) lodge a written notice with the Commissioner that the vehicle is not able to be lawfully used to provide unbooked commercial passenger vehicle services.\n\n(4) A person who has received an exemption from the payment of duty because the Commissioner was satisfied about the matters in subsection (1)(b) must, within the specified period—\n\n(a) provide the Commissioner with evidence that the vehicle is registered under Part 3 of the **Commercial Passenger Vehicle Industry Act 2017** and is able to be lawfully used to provide unbooked commercial passenger vehicle services; or\n\n(b) lodge a written notice with the Commissioner that the vehicle has not been registered under Part 3 of the **Commercial Passenger Vehicle Industry Act 2017** or is otherwise not able to be lawfully used to provide unbooked commercial passenger vehicle services.\n\n(5) The Commissioner, with respect to an application for registration or transfer of registration of a wheelchair accessible motor vehicle, may approve, on request, a period that is longer than 3 months from the date of the application for the purposes of this section.\n\n(6) The Commissioner may approve a period under subsection (5)—\n\n(a) at the time the Commissioner considers the matters referred to in subsection (1); or\n\n(b) at any subsequent time, if a request was made before the expiry of 3 months from the date of the application.\n\n(7) If the Commissioner approves a period under subsection (5) after the expiry of 3 months from the date of the application, the specified period is taken to have continued between—\n\n(a) the expiry of the 3 month period; and\n\n(b) the date on which the Commissioner approved a longer period.\n\n(8) If a person received an exemption from the payment of duty under subsection (1) and, after the end of the specified period, the vehicle is not registered under Part 3 of the **Commercial Passenger Vehicle Industry Act 2017** or is otherwise not able to be lawfully used to provide unbooked commercial passenger vehicle services—\n\n(a) the application for registration or transfer of registration of the vehicle is chargeable with duty; and\n\n(b) the Commissioner may reassess duty on the application for registration or transfer of registration.\n\n(9) In this section—\n\n***specified period*** means—\n\n(a) a period of 3 months from the date of an application for registration or transfer of registration; or\n\n(b) a longer period from the date of an application for registration or transfer of registration approved by the Commissioner under subsection (5);\n\n***unbooked commercial passenger vehicle service*** has the same meaning as in section 3 of the **Commercial Passenger Vehicle Industry Act 2017**;\n\n***wheelchair accessible motor vehicle*** means a motor vehicle—\n\n(a) that is specially converted to provide wheelchair access to and egress from the vehicle; and\n\n(b) that is capable of carrying at least one occupied wheelchair.\n\nS. 233D inserted by No. 85/2005 s. 13.\n\n","sortOrder":367},{"sectionNumber":"233D","sectionType":"section","heading":"Government or charitable vehicle used to convey incapacitated person","content":"\t233D Government or charitable vehicle used to convey incapacitated person\n\n(1) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a vehicle referred to in subsection (2) that is registered or to be registered in the name of—\n\n(a) a charitable, benevolent or religious institution; or\n\n(b) the Crown; or\n\n(c) a public statutory authority; or\n\n(d) a municipal council.\n\n(2) Subsection (1) applies to a vehicle that—\n\n(a) is specially converted to provide wheelchair access to and egress from the vehicle; and\n\n(b) is capable of carrying at least one occupied wheelchair; and\n\n(c) is or is to be used for conveying an incapacitated person whose mobility is seriously impaired; and\n\n(d) is marked with the name of the registered operator or, in the case of the Crown, with the name of the relevant department or agency; and\n\nS. 233D(2)(e) amended by No. 6/2010 s. 203(1)  \n(Sch. 6 item 13.5) (as amended by No. 45/2010 s. 22), substituted by No. 63/2017 s. 21(Sch. 1 item 2.3).\n\n(e) is not a commercial passenger vehicle (within the meaning of the **Commercial Passenger Vehicle Industry Act 2017**).\n\nS. 233E inserted by No. 85/2005 s. 13, amended by No. 42/2012 s. 7 (ILA s. 39B(1)).\n\n","sortOrder":368},{"sectionNumber":"233E","sectionType":"section","heading":"Incapacitated war veteran's vehicle","content":"\t233E Incapacitated war veteran's vehicle\n\n(1) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a motor vehicle not used except for social, domestic or pleasure purposes registered or to be registered in the name of a person who—\n\n(a) is assessed pursuant to the Veterans' Entitlement Act 1986 of the Commonwealth—\n\n(i) as a veteran to whom section 22 of that Act applies at the 100% or higher rate; or\n\n(ii) as a veteran to whom section 23, 24, 25 or 104 of that Act applies; and\n\n(b) operates no other vehicle currently registered without fee as an incapacitated war veteran's vehicle in accordance with regulations made under the **Road Safety Act 1986**.\n\nS. 233E(2) inserted by No. 42/2012 s. 7.\n\n(2) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a motor vehicle not used except for social, domestic or pleasure purposes registered or to be registered in the name of a person who—\n\n(a) is assessed under Part 2 of Chapter 4 of the Military Rehabilitation and Compensation Act 2004 of the Commonwealth as a person who has suffered an impairment resulting from one or more service injuries or diseases, the degree of which constitutes 40 impairment points or more; and\n\n(b) operates no other vehicle currently registered without fee as an incapacitated war veteran's vehicle in accordance with regulations made under the **Road Safety Act 1986**.\n\nS. 233F inserted by No. 85/2005 s. 13.\n\n","sortOrder":369},{"sectionNumber":"233F","sectionType":"section","heading":"Fire fighting and emergency response vehicle","content":"\t233F Fire fighting and emergency response vehicle\n\nNo duty is chargeable under this Chapter on an application for registration or transfer of registration of a vehicle that—\n\n(a) is owned by a State Emergency Service volunteer unit, a Country Fire Authority brigade or a municipal council; and\n\n(b) is registered or to be registered in the name of a nominee on behalf of the unit or brigade or in the name of a municipal council; and\n\n(c) is certified by the State Emergency Service or the Country Fire Authority as a vehicle that is specifically equipped for and exclusively used for combating outbreaks of fire or for emergency response.\n\nS. 233G inserted by No. 85/2005 s. 13.\n\n","sortOrder":370},{"sectionNumber":"233G","sectionType":"section","heading":"Consular vehicle","content":"\t233G Consular vehicle\n\nNo duty is chargeable under this Chapter on an application for registration or transfer of registration of a vehicle that is registered or to be registered in the name of a person who—\n\n(a) holds a diplomatic post of the rank of Consul-General, Consul or Vice Consul; or\n\n(b) is an Honorary Head of Post or a person employed in the administrative or technical service of a consulate-general, consulate, vice-consulate or consular agency who—\n\n(i) is not an Australian citizen; and\n\n(ii) is not holding the post of Trade Commissioner.\n\nS. 233H inserted by No. 85/2005 s. 13.\n\n","sortOrder":371},{"sectionNumber":"233H","sectionType":"section","heading":"Repossessions and restorations","content":"\t233H Repossessions and restorations\n\n(1) No duty is chargeable under this Chapter on an application for transfer of registration of a motor vehicle lodged by—\n\n(a) a person who has taken or is taking possession of a motor vehicle from the registered operator under a security interest held by the person; or\n\n(b) a person who was formerly the registered operator of a motor vehicle and who has taken or is taking possession of the vehicle from another person who holds or held a security interest in the vehicle.\n\n***security interest***, in relation to a motor vehicle, means an interest in, or a power over, the vehicle that secures payment of a debt or other pecuniary obligation or the performance of any other obligation but does not include a possessory lien or pledge.\n\nS. 234 repealed by No. 36/2005 s. 18.\n\nS. 234A inserted by No. 46/2001 s. 19.\n\n","sortOrder":372},{"sectionNumber":"234A","sectionType":"section","heading":"Amalgamation of industrial organisations","content":"\t234A Amalgamation of industrial organisations\n\nS. 234A(1) amended by No. 85/2005 s. 14(a).\n\n(1) No duty is chargeable under this Chapter on an application for transfer of registration of a motor vehicle to effect a transfer of the vehicle from an industrial organisation to another industrial organisation as a consequence of the amalgamation of two or more industrial organisations.\n\n(2) Subsection (1) applies only if the transfer is made under, or in accordance with, the rules of the transferring industrial organisation.\n\nS. 234B (Heading) amended by Nos 38/2012 s. 15(2), 18/2023 s. 22(6).\n\nS. 234B inserted by No. 46/2001 s. 19, amended by Nos 85/2005 s. 14(a), 38/2012 s. 15(1), 18/2023 s. 22(7).\n\n","sortOrder":373},{"sectionNumber":"234B","sectionType":"section","heading":"Financial sector (transfer and restructure)","content":"\t234B Financial sector (transfer and restructure)\n\nNo duty is chargeable under this Chapter on an application for transfer of registration of a motor vehicle as a consequence of the vehicle becoming an asset of a receiving body under Part 3 of the Financial Sector (Transfer and Restructure) Act 1999 of the Commonwealth.\n\nS. 235 (Heading) inserted by No. 27/2001 s. 3(Sch. 1 item 2.9).\n\n","sortOrder":374},{"sectionNumber":"235","sectionType":"section","heading":"Marriage and domestic relationships and their breakdown","content":"\t235 Marriage and domestic relationships and their breakdown\n\nS. 235(1) amended by No. 85/2005 s. 14(a).\n\n(1) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a motor vehicle to effect a transfer of the vehicle from one person to another person if—\n\nS. 235(1)(a) substituted by No. 27/2001 s. 3(Sch. 1 item 2.10(a)).\n\n(a) either of the following applies—\n\n(i) both people are spouses or domestic partners of each other; or\n\n(ii) both people were spouses or domestic partners of each other and the Commissioner is satisfied that the transfer was made because of the breakdown of the marriage or domestic relationship; and\n\n(b) no other person takes or is entitled to take an interest in the vehicle under the transfer.\n\nS. 235(2) amended by No. 85/2005 s. 14(b).\n\n(2) No duty is chargeable under this Chapter on an application for registration or transfer of registration of a motor vehicle lodged by a person if the Commissioner is satisfied that—\n\nS. 235(2)(a) amended by No. 85/2005 s. 14(b).\n\n(a) the application is lodged solely to transfer the vehicle to a trustee; and\n\nS. 235(2)(b) amended by No. 27/2001 s. 3(Sch. 1 item 2.10(b)).\n\n(b) the transfer has been made because of the breakdown of a marriage or domestic relationship; and\n\nS. 235(2)(c) amended by No. 27/2001 s. 3(Sch. 1 item 2.10(b)).\n\n(c) the transferor is or was a party to the marriage or domestic relationship; and\n\nS. 235(2)(d) amended by No. 27/2001 s. 3(Sch. 1 item 2.10(b)).\n\n(d) no person other than a party to the marriage or domestic relationship or a child of a party to the marriage or domestic relationship is a beneficiary of the trust.\n\n","sortOrder":375},{"sectionNumber":"236","sectionType":"section","heading":"Minors and trustees","content":"\t236 Minors and trustees\n\nS. 236(1) amended by No. 85/2005 s. 14(c).\n\n(1) No duty is chargeable under this Chapter on an application for transfer of registration of a motor vehicle lodged—\n\n(a) by a person for whom, when a minor, the vehicle was acquired by another person as nominee or trustee; and\n\n(b) to give effect to the transfer of the vehicle from the nominee or trustee to the person after ceasing to be a minor.\n\nS. 236(2) amended by No. 85/2005 s. 14(c).\n\n(2) No duty is chargeable under this Chapter on an application for transfer of registration of a motor vehicle lodged—\n\n(a) solely because of the appointment or retirement of a trustee or other change in trustees; and\n\n(b) in order to vest the vehicle in the trustees for the time being entitled to hold the vehicle.\n\n","sortOrder":376},{"sectionNumber":"237","sectionType":"section","heading":"Vehicles previously registered in the same name interstate","content":"\t237 Vehicles previously registered in the same name interstate\n\nNo duty is chargeable under this Chapter on an application for registration of a motor vehicle by a person if—\n\n(a) the vehicle was last registered by the person outside Victoria but within Australia; and\n\n(b) the Commissioner is satisfied that the vehicle was not registered outside Victoria for the purpose of avoiding duty under this Chapter.\n\nCh. 9 Pt 4 (Heading) substituted by No. 33/2007 s. 8.\n\nPart 4—Duty on change of use\n\n","sortOrder":377},{"sectionNumber":"238","sectionType":"section","heading":"Duty on statement of change of use","content":"\t238 Duty on statement of change of use\n\n(1) This section imposes duty if—\n\n(a) there is a change in the predominant use of a motor vehicle the last application for registration or transfer of registration of which was not chargeable with duty under this Act because of the use of the vehicle; and\n\nS. 238(1)(b) amended by No. 85/2005 s. 14(c).\n\n(b) an application for registration or transfer of registration of the vehicle in Victoria is not lodged in connection with the change of use; and\n\nS. 238(1)(c) amended by No. 85/2005 s. 14(c).\n\n(c) duty would have been chargeable on an application referred to in paragraph (b) had that application been lodged.\n\nS. 238(2) substituted by No. 17/2019 s. 20(1).\n\n(2) Within 14 days after there is a change in the predominant use of a motor vehicle of the kind referred to in subsection (1), the registered operator of the vehicle must lodge with the Commissioner a statement of the change in use and pay duty at the rate set out in the Table.\n\n| *Item* | *Motor vehicle* | *Rate of duty per $200, or part, of the dutiable value of the motor vehicle* |\n| 1 | Green car | $8.40 |\n| 2 | Primary producer passenger car | $8.40 |\n| 3 | Other passenger car the dutiable value of which does not exceed the luxury car tax threshold | $8.40 |\n| 4 | Other passenger car the dutiable value of which exceeds the luxury car tax threshold but does not exceed $100 000 | $10.40 |\n| 5 | Other passenger car the dutiable value of which exceeds $100 000 but does not exceed $150 000 | $14.00 |\n| 6 | Other passenger car the dutiable value of which exceeds $150 000 | $18.00 |\n| 7 | Motor vehicle that is not a passenger car | $8.40 |\n\n(3) If a registered operator does not comply with subsection (2), the registered operator is liable to a penalty of—\n\nS. 238(3)(a) amended by No. 17/2019 s. 20(2).\n\n(a) an amount equal to the amount of duty referred to in subsection (2) and interest on that amount at the rate of 20% per annum from the day on which the payment of the duty was required; or\n\nS. 238(4) amended by Nos 46/2001 s. 31, 17/2019 s. 20(2).\n\n(4) The penalty imposed by subsection (3) is in addition to the registered operator's liability for the duty under subsection (2) and any penalty tax and interest payable under the **Taxation Administration Act 1997**.\n\n(5) The Commissioner, in such circumstances as the Commissioner considers appropriate, may remit the penalty imposed by subsection (3) by any amount.\n\nS. 239 amended by No. 71/2004 s. 21, repealed by No. 85/2005 s. 14(d).\n\nPart 5—Refund of duty\n\n","sortOrder":378},{"sectionNumber":"240","sectionType":"section","heading":"Entitlement to refund","content":"\t240 Entitlement to refund\n\n(1) A person is entitled to a refund of duty paid by the person on an application for registration or transfer of registration of a motor vehicle if—\n\n(a) no duty is chargeable on the application; or\n\n(b) after the duty is paid the application is refused; or\n\n(c) after the duty is paid—\n\n(i) the proposed acquisition of the motor vehicle does not proceed; and\n\n(ii) the motor vehicle has been returned to the person from whom it was proposed to be acquired; and\n\nS. 240(1)(c)(iii) amended by Nos 11/2002 s. 3(Sch. 1 item 17), 30/2002 s. 12.\n\n(iii) all money refundable as a result of the acquisition not proceeding has been refunded to the person who proposed to acquire the vehicle; or\n\nS. 240(1)(d) inserted by No. 30/2002 s. 12.\n\n(d) after the duty is paid the application is found—\n\n(i) to be void in law from the beginning; or\n\n(ii) to have been made in error.\n\n(2) A person is entitled to a refund of that part of the duty paid by the person on an application for registration or transfer of registration of a motor vehicle that is overpaid.\n\nChapter 10—Miscellaneous duties\n\nPart 1—Sale of cattle\n\n\t241 Imposition of duty\n\n(a) on a statement written out or caused to be written out under section 92(1)(a) of the **Livestock Disease Control Act 1994** by the owner or the owner's agent on the sale of cattle, calves or cattle carcases; and\n\nS. 241(b) amended by No. 84/2008 s. 11(1).\n\n(b) on a return furnished by an approved agent to the Commissioner under section 95(1) of that Act.\n\n","sortOrder":379},{"sectionNumber":"242","sectionType":"section","heading":"What is the rate of duty?","content":"\t242 What is the rate of duty?\n\n(1) The rate of duty is—\n\n(a) in respect of the sale of cattle—5 cents per $20, or part—\n\n(i) of the amount of the purchase money for one head of cattle sold singly; or\n\n(ii) of the total amount of the purchase money for any number of cattle sold in one lot;\n\n(b) in respect of the sale of calves—15 cents for each calf sold;\n\n(c) in respect of the sale of cattle carcases, if the carcase is purchased on a weight sale basis after the animal has been slaughtered—\n\n(i) 90 cents for each carcase that does not weigh more than 250 kilograms; and\n\n(ii) $1.30 for each carcase that weighs more than 250 kilograms.\n\n(2) The maximum amount of duty chargeable in respect of any one head of cattle (whether sold singly or as part of a lot) is $5.\n\n","sortOrder":380},{"sectionNumber":"243","sectionType":"section","heading":"What is the purchase money?","content":"\t243 What is the purchase money?\n\n(1) The purchase money for a sale is taken not to include an amount in respect of any GST payable on the supply to which the sale relates.\n\n(2) In calculating the purchase money for a sale, it is immaterial whether payment of the purchase money is made in full at the time of the sale or is to be made by instalments or is otherwise deferred.\n\nPart 2—Sale of sheep and goats\n\n","sortOrder":381},{"sectionNumber":"244","sectionType":"section","heading":"Imposition of duty","content":"\t244 Imposition of duty\n\n(a) on a statement written out or caused to be written out under section 92(1A)(a) of the **Livestock Disease Control Act 1994** by the owner or the owner's agent on the sale of sheep or goats or sheep or goat carcases; and\n\nS. 244(b) amended by No. 84/2008 s. 11(2).\n\n(b) on a return furnished by an approved agent to the Commissioner under section 95A(1) of that Act.\n\nS. 245 substituted by No. 47/2020 s. 13.\n\n","sortOrder":382},{"sectionNumber":"245","sectionType":"section","heading":"What is the rate of duty?","content":"\t245 What is the rate of duty?\n\nThe rate of duty for each sheep, goat or carcase sold is—\n\n(a) for a sheep, goat or carcase sold before 1 January 2021—12 cents; or\n\n(b) for a sheep, goat or carcase sold on or after 1 January 2021 and before 1 January 2022—19 cents; or\n\n(c) for a sheep, goat or carcase sold on or after 1 January 2022 and before 1 January 2023—27 cents; or\n\n(d) for a sheep, goat or carcase sold on or after 1 January 2023—35 cents.\n\nPart 3—Sale of pigs\n\n","sortOrder":383},{"sectionNumber":"246","sectionType":"section","heading":"Imposition of duty","content":"\t246 Imposition of duty\n\n(a) on a statement written out or caused to be written out under section 92(2)(a) of the **Livestock Disease Control Act 1994** by the owner or the owner's agent on the sale of pigs or pig carcases; and\n\nS. 246(b) amended by No. 84/2008 s. 11(3).\n\n(b) on a return furnished by an approved agent to the Commissioner under section 95B(1) of that Act.\n\n","sortOrder":384},{"sectionNumber":"247","sectionType":"section","heading":"What is the rate of duty?","content":"\t247 What is the rate of duty?\n\n(1) Subject to subsection (2), the rate of duty is 2 cents per $5, or part—\n\nS. 247(1)(a) amended by No. 47/2020 s. 14(a).\n\n(a) of the amount of the purchase money for one pig or carcase sold singly; or\n\nS. 247(1)(b) amended by No. 47/2020 s. 14(b).\n\n(b) of the total amount of the purchase money for any number of pigs or carcases sold in one lot.\n\nS. 247(2) amended by No. 47/2020 s. 14(c).\n\n(2) The maximum amount of duty in respect of the sale of any one pig or carcase (whether sold singly or as part of a lot) is 16 cents.\n\n","sortOrder":385},{"sectionNumber":"248","sectionType":"section","heading":"What is the purchase money?","content":"\t248 What is the purchase money?\n\n(1) The purchase money for a sale is taken not to include an amount in respect of any GST payable on the supply to which the sale relates.\n\n(2) In calculating the purchase money for a sale, it is immaterial whether payment of the purchase money is made in full at the time of the sale or is to be made by instalments or is otherwise deferred.\n\nCh. 10 Pt 4  \n(Heading and ss 248A, 248B) inserted by No. 84/2008 s. 12.\n\nPart 4—Registration of approved agents\n\nS. 248A inserted by No. 84/2008 s. 12.\n\n","sortOrder":386},{"sectionNumber":"248A","sectionType":"section","heading":"Registration of approved agents","content":"\t248A Registration of approved agents\n\n(1) The Commissioner, on the recommendation of the Secretary, may register a livestock agent within the meaning of the **Livestock Disease Control Act 1994** as an approved agent for the purposes of this Part and Part 6 of that Act.\n\n(2) The Commissioner may, after consulting the Secretary, revoke a registration made under subsection (1).\n\n(3) The Commissioner must assign a number to every livestock agent registered as an approved agent.\n\nS. 248A(4)  \ndef. of *Secretary* amended by Nos 69/2013 s. 10, 46/2019 s. 9.\n\n***Secretary*** means Secretary to the Department of Jobs, Precincts and Regions.\n\nS. 248B inserted by No. 84/2008 s. 12.\n\n","sortOrder":387},{"sectionNumber":"248B","sectionType":"section","heading":"Commissioner to keep register of approved agents","content":"\t248B Commissioner to keep register of approved agents\n\n(1) The Commissioner must keep a register of approved agents including each approved agent's name and assigned number.\n\n(2) The Commissioner—\n\n(a) must make the register of approved agents available on an Internet website maintained by the Commissioner; and\n\n(b) may make the register available by any other method.\n\nCh. 11 (Heading) amended by No. 17/2019 s. 21(1).\n\n","sortOrder":388},{"sectionNumber":"Part 11","sectionType":"part","heading":"General exemptions and concessions from duty","content":"Chapter 11—General exemptions and concessions from duty\n\nCh. 11 Pt 1 (Heading) inserted by No. 113/2003 s. 4.\n\nPart 1—Security for payment of tax\n\n","sortOrder":389},{"sectionNumber":"249","sectionType":"section","heading":"Security for payment of tax","content":"\t249 Security for payment of tax\n\n(1) No duty is chargeable under this Act in respect of a mortgage given to or executed by the Commissioner to secure the payment of tax as a result of the Commissioner postponing or extending the time for the payment of tax.\n\nS. 249(2) substituted by No. 88/2005 s. 117(Sch. 2 item 1.2).\n\n***tax*** means tax within the meaning of the **Taxation Administration Act 1997**.\n\nCh. 11 Pt 2 (Heading and ss 250–250M) inserted by No. 113/2003 s. 5.\n\nPart 2—Corporate reconstructions\n\nCh. 11 Pt 2 Div. 1 (Heading) amended by No. 17/2019 s. 21(2), substituted by No. 47/2020 s. 15.\n\nDivision 1—Exemptions and concessions for corporate consolidations and reconstructions\n\nS. 250 (Heading) substituted by No. 47/2020 s. 16(1).\n\nS. 250 substituted by Nos 113/2003 s. 5, 71/2004 s. 22.\n\n","sortOrder":390},{"sectionNumber":"250","sectionType":"section","heading":"Definitions","content":"\t250 Definitions\n\nS. 250(1) def. of *consolidated group* inserted by No. 47/2020 s. 16(2).\n\n***consolidated group*** has the same meaning as in section 703-5 of the ITAA;\n\nS. 250(1) def. of *corporate consolidation* inserted by No. 47/2020 s. 16(2).\n\n***corporate consolidation*** means the interposition of a head company between a corporation that is a member of a corporate group and the shareholders or unit holders of that corporation for the purposes of the formation or continuation of a consolidated group;\n\nS. 250(1) new def. of *corporate group* inserted by No. 52/2021 s. 47(3).\n\n***corporate group*** means a parent corporation and the subsidiaries of that parent corporation;\n\n***corporation*** includes—\n\n(a) a unit trust scheme;\n\n(b) a public offer superannuation fund within the meaning of section 18 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth that has at least 300 public subscribers;\n\nS. 250(1) def. of *corporate group* repealed by No. 52/2021 s. 47(2).\n\nS. 250(1) def. of *head company* inserted by No. 47/2020 s. 16(2).\n\n***head company*** means a corporation that is a head company within the meaning of section 703‑15(2)(a) of the ITAA;\n\nS. 250(1) def. of *ITAA* inserted by No. 47/2020 s. 16(2).\n\n***ITAA***  means the Income Tax Assessment Act 1997 of the Commonwealth;\n\nS. 250(1) def. of *parent corporation* amended by No. 17/2019 s. 22(a).\n\n***parent corporation*** means a corporation that directly or indirectly—\n\n(a) holds at least 90% of the beneficial ownership of another corporation (***the subsidiary***); and\n\n(b) has the ability to cast, or to control the casting of, at least 90% of the maximum number of votes that may be cast at a general meeting of the subsidiary.\n\nS. 250(1) def. of *relevant corporate group* repealed by No. 17/2019 s. 22(b).\n\nS. 250(2) amended by No. 36/2005 s. 19(a).\n\n(2) In this Division, if—\n\n(a) the issued shares or units of a corporation are stapled to the issued shares or units of one or more other corporations; and\n\nS. 250(2)(b) amended by No. 28/2011 s. 26.\n\n(b) the stapled securities are quoted on the ASX or a recognised stock exchange—\n\nthose corporations and the subsidiaries of each of those corporations constitute a corporate group.\n\nS. 250(3) amended by No. 36/2005 s. 19(a).\n\n(3) Nothing in this Division applies to a corporation to the extent that it is a trustee of a discretionary trust.\n\nS. 250(4) amended by No. 36/2005 s. 19(a).\n\n(4) In this Division, a corporation that holds dutiable property on trust (other than as trustee of a unit trust scheme) for another corporation is taken not to be a member of any corporate group of which the second-mentioned corporation is a member.\n\nS. 250(5) inserted by No. 47/2020 s. 16(3).\n\n(5) For the purposes of this Division, a corporate group is substantially the same corporate group if its membership is the same except for the addition or omission of one or more subsidiaries of the parent corporation.\n\nS. 250A inserted by No. 113/2003 s. 5, amended by Nos 71/2004 s. 23, 36/2005 s. 19(b), 38/2012 s. 7, 17/2019 s. 23, substituted by No. 47/2020 s. 17.\n\n","sortOrder":391},{"sectionNumber":"250A","sectionType":"section","heading":"What is an eligible transaction?","content":"\t250A What is an eligible transaction?\n\n(1) For the purposes of this Division, an ***eligible transaction*** is any of the following—\n\n(a) a transfer of dutiable property from one member of a corporate group to another member of the group;\n\n(b) a vesting of dutiable property by, or as a consequence of, a court order where the property was held by one member of a corporate group and is vested in another member of the group;\n\n(c) the granting of a lease referred to in section 7(1)(b)(v) by one member of a corporate group to another member of the group;\n\n(d) the transfer or assignment of a lease referred to in section 7(1)(b)(va) from one member of a corporate group to another member of the group;\n\n(e) an application referred to in section 214(1) for the registration or transfer of registration of a motor vehicle as a result of a transfer of the vehicle from one member of a corporate group to another member of the group;\n\n(f) a dutiable transaction to which section 14 applies between members of a corporate group;\n\n(g) a relevant acquisition to which section 83 applies by a member of a corporate group from another member of the group;\n\n(h) a declaration of trust relating to dutiable property the specification of which forms part of the declaration of trust or part of the transaction constituted by the declaration of trust by one member of a corporate group under which the dutiable property is held on trust for another member of the group;\n\n(i) any other transaction that results in the beneficial ownership of dutiable property (other than an excluded transaction) moving from one member of a corporate group to another member of the group.\n\n(2) For the purposes of this Division, an ***eligible transaction*** is also any of the following that occurs solely for the purposes of a corporate consolidation—\n\n(a) a transfer of dutiable property from a shareholder or unitholder of a corporation to the head company;\n\n(b) a vesting of dutiable property by, or as a consequence of, a court order where the property was held by a shareholder or unitholder of a corporation and is vested in the head company;\n\n(c) the granting of a lease referred to in section 7(1)(b)(v) by a shareholder or unitholder of a corporation to the head company;\n\n(d) the transfer or assignment of a lease referred to in section 7(1)(b)(va) from a shareholder or unitholder of a corporation to the head company;\n\n(e) an application referred to in section 214(1) for the registration of a motor vehicle or for the transfer of registration of a motor vehicle as a result of a transfer of the vehicle from a shareholder or unitholder of a corporation to the head company;\n\n(f) a dutiable transaction to which section 14 applies between a shareholder or unitholder of a corporation and the head company;\n\n(g) a relevant acquisition to which section 83 applies—\n\n(i) by the head company from a shareholder or unitholder of a corporation; or\n\n(ii) by a shareholder or unitholder of a corporation from the head company;\n\n(h) a declaration of trust relating to dutiable property the specification of which forms part of the declaration of trust or part of the transaction constituted by the declaration of trust by the head company under which the dutiable property is held on trust for a shareholder or unitholder of a corporation;\n\n(i) any other transaction that results in the beneficial ownership of dutiable property (other than an excluded transaction) moving from a shareholder or unitholder of a corporation to the head company.\n\n(3) Despite subsection (2), a transaction is not an eligible transaction unless—\n\n(a) the only consideration provided by the head company for the transaction consists of the issue of shares in the head company to the shareholders or unitholders of the corporation; and\n\n(b) immediately after the issue of shares in the head company, all the shareholders in the head company are persons who were shareholders or unitholders in the corporation immediately before their shares or units were acquired by the head company.\n\n(4) Subsection (3)(a) does not apply to a transaction referred to in subsection (2)(g)(ii).\n\n(5) Despite subsections (1)(a) and (2)(a), a transfer of dutiable property from one member of a corporate group to another member of the group is not an eligible transaction if—\n\n(a) the dutiable property is transferred under an agreement; and\n\n(b) at the time the agreement was entered into, the vendor and the purchaser were not members of the same corporate group or substantially the same corporate group.\n\n(6) For the purposes of subsection (5)—\n\n(a) a reference to a vendor includes a reference to a person who, at the time the agreement was entered into, was the grantee of a put option or the grantor of a call option; and\n\n(b) a reference to a purchaser includes a reference to a person who, at the time the agreement was entered into—\n\n(ii) was the grantor of a put option or the grantee of a call option; and\n\n(c) a reference to an agreement includes a reference to an arrangement that includes both a put option and a call option.\n\n(7) Despite anything to the contrary in subsection (1) or (2), the addition or omission of one or more subsidiaries of the parent corporation is not an eligible transaction.\n\nS. 250AB inserted by No. 47/2020 s. 17.\n\n\t250AB What is an arrangement?\n\nIn this Division (other than in section 250A(6)(c)), an ***arrangement*** means an arrangement consisting of two or more eligible transactions that do not involve any corporation or person other than—\n\n(a) members of the same corporate group or substantially the same corporate group; or\n\n(b) a head company to be interposed between the shareholders or unit holders of a corporation that is in—\n\n(i) the same corporate group or substantially the same corporate group; or\n\n(ii) a corporate group that consists of members of the same corporate group or substantially the same corporate group, and any other company that was a head company interposed during a previous corporate consolidation; or\n\n(c) shareholders or unit holders of a corporation that is a member of the same corporate group or substantially the same corporate group.\n\nS. 250B (Heading) amended by Nos 17/2019 s. 24(1), 47/2020 s. 18(1).\n\nS. 250B inserted by No. 113/2003 s. 5.\n\n\t250B Concession and exemptions for certain transactions arising out of corporate reconstructions, corporate consolidations and arrangements\n\nS. 250B(1) substituted by No. 71/2004 s. 24(1), amended by No. 36/2005 s. 19(c), substituted by No. 17/2019 s. 24(2).\n\n(1) Subject to this section, the duty chargeable on an eligible transaction is 10% of the duty that would otherwise be chargeable under this Act on the eligible transaction.\n\nS. 250B(2) substituted by Nos 17/2019 s. 24(2), 47/2020 s. 18(2).\n\n(2) No duty is chargeable under this Act on an eligible transaction to the extent that—\n\n(a) duty is chargeable on an earlier eligible transaction in relation to the same dutiable property; and\n\n(b) the eligible transaction and the earlier eligible transaction referred to in paragraph (a) form an arrangement or part of an arrangement; and\n\nS. 250B(2)(c) amended by No. 38/2023 s. 12.\n\n(c) the eligible transaction occurs within the period of 30 days beginning on and including the day on which the first eligible transaction occurred in the arrangement.\n\nS. 250B(3) substituted by No. 17/2019 s. 24(2).\n\n(3) For the purposes of subsection (2), if either or both of the eligible transactions referred to in that subsection is a relevant acquisition, a reference to dutiable property in relation to the relevant acquisition is a reference to the land holdings of the landholder in which the relevant acquisition is made.\n\nS. 250B(3A) inserted by No. 17/2019 s. 24(2), substituted by No. 47/2020 s. 18(3).\n\n(3A) No duty is chargeable under this Act on an eligible transaction that is an application for the registration or transfer of registration of a motor vehicle if—\n\n(a) duty is chargeable on an earlier eligible transaction that is an application for the registration or transfer of registration of the same motor vehicle; and\n\n(b) the eligible transaction and the earlier eligible transaction referred to in paragraph (a) form an arrangement or part of an arrangement; and\n\nS. 250B(3A)(c) amended by No. 38/2023 s. 12.\n\n(c) the eligible transaction occurs within the period of 30 days beginning on and including the day on which the first eligible transaction occurred in the arrangement.\n\nS. 250B(3B) inserted by No. 47/2020 s. 18(3).\n\n(3B) If an arrangement continues for more than 30 days, subsections (2) and (3A) apply in relation to each 30 day period for which the arrangement continues as if the first eligible transaction that occurs in the arrangement after the end of each 30 day period were the first eligible transaction in the arrangement.\n\nS. 250B(4) amended by Nos 36/2005 s. 19(c), 17/2019 s. 24(3)(a).\n\n(4) The Minister must, before 31 October in each year, cause to be laid before each House of the Parliament a report of concessions and exemptions under this Division in the preceding financial year, including—\n\nS. 250B(4)(a) amended by Nos 71/2004 s. 24(2), 17/2019 s. 24(3)(b), 47/2020 s. 18(4).\n\n(a) the name of each member of a corporate group or consolidated group that has had the benefit of a concession or exemption; and\n\nS. 250B(4)(b) amended by No. 17/2019 s. 24(3)(c).\n\n(b) the amount of duty that would have been chargeable but for the concession or exemption.\n\nS. 250C inserted by No. 113/2003 s. 5, amended by No. 36/2005 s. 19(c), repealed by No. 17/2019 s. 25.\n\nS. 250D inserted by No. 113/2003 s. 5, amended by Nos 71/2004 s. 25, 36/2005 s. 19(c), 28/2011 s. 27, repealed by No. 17/2019 s. 25.\n\nCh. 11 Pt 2 Div. 1A (Heading) amended by No. 17/2019 s. 21(3), repealed by No. 47/2020 s. 19.\n\nCh. 11 Pt 2 Div. 1A (Heading and ss 250DA–250DG) inserted by No. 36/2005 s. 20.\n\nSs 250DA, 250DB inserted by No. 36/2005 s. 20, repealed by No. 47/2020 s. 20.\n\nS. 250DC inserted by No. 36/2005 s. 20, amended by Nos 38/2012 s. 8, 17/2019 s. 26, repealed by No. 47/2020 s. 20.\n\nS. 250DD inserted by No. 36/2005 s. 20, amended by No. 17/2019 s. 27, repealed by No.47x/2020 s. 20.\n\nSs 250DE, 250DF inserted by No. 36/2005 s. 20, repealed by No. 17/2019 s. 28.\n\nS. 250DG inserted by No. 36/2005 s. 20, amended by No. 38/2012 s. 9, substituted by No. 47/2020 s. 21.\n\n\t250DG Special provision in relation to landholder duty if there has been a corporate consolidation involving a private unit trust scheme\n\n(1) This section applies in relation to a landholder that is or has been a head company of a corporate group and that was interposed as the head company of the corporate group or substantially the same corporate group—\n\n(a) by a corporate consolidation that consisted of the interposition of a head company between a private unit trust scheme and the unitholders of the private unit trust scheme; or\n\n(b) as a head company that succeeded, directly or indirectly, the head company referred to in paragraph (a), by any further corporate consolidation that occurred after the corporate consolidation referred to in paragraph (a).\n\n(2) For the purposes of Part 2 of Chapter 3, in determining whether a person makes a relevant acquisition in the landholder—\n\n(a) the landholder must be taken to be a private unit trust scheme, being the same scheme as that existing immediately before the corporate consolidation referred to in subsection (1)(a); and\n\n(b) a shareholding in the landholder must be taken to be a unitholding in that private unit trust scheme; and\n\n(c) if an interest in the private unit trust scheme held at any time before the corporate consolidation referred to in subsection (1)(a) was or would be counted for the purposes of section 78, that interest is to continue to be counted for the purposes of that section after the corporate consolidation referred to in subsection (1)(a) or any further corporate consolidation referred to in subsection (1)(b) (as the case requires); and\n\n(d) if an interest in the private unit trust scheme held at any time before the corporate consolidation referred to in subsection (1)(a) was not or would not be counted for the purposes of section 78, that interest is to continue not to be counted for the purposes of that section after the corporate consolidation referred to in subsection (1)(a) or any further corporate consolidation referred to in subsection (1)(b) (as the case requires); and\n\n(e) without limiting paragraph (a), any acquisition of an interest in land by the private unit trust scheme before the corporate consolidation referred to in subsection (1)(a) is taken to have been an interest acquired by the landholder at the time it was acquired by the private unit trust scheme.\n\n(3) This section applies for a period of 3 years commencing at the time of the corporate consolidation referred to in subsection (1)(a).\n\nCh. 11 Pt 2 Div. 1B (Heading and ss 250DH–250DK) inserted by No. 31/2008 s. 12.\n\nDivision 1B—Exchange of stapled ownership interests for ownership interests in a  \nunit trust scheme\n\nS. 250DH inserted by No. 31/2008 s. 12.\n\n\t250DH Definitions\n\n***exchanging members*** has the same meaning as in section 124-1045(1)(d) of the ITAA;\n\n***interposed trust*** means a unit trust scheme that is interposed between the exchanging members and the stapled entities in the course of, or as a result of, a roll-over;\n\n***ITAA*** means the Income Tax Assessment Act 1997 of the Commonwealth;\n\nS. 250DH def. of  \n*listed* amended by No. 28/2011 s. 28(a).\n\n***listed***, in relation to the shares or units in a stapled entity, means listed for quotation on the ASX or a recognised stock exchange;\n\n***ownership interest*** has the same meaning as in section 125-60 of the ITAA;\n\nS. 250DH def. of *public float* amended by No. 28/2011 s. 28(b).\n\n***public float*** means a share float or an offer of units to create a public unit trust scheme—\n\n(a) the shares or units of which are quoted on the ASX or a recognised stock exchange and are offered to the public generally; and\n\n(b) of which the issue of the shares or units to the public does not give any person and their related persons (other than the corporate entity that floated the shares or units) a combined beneficial interest in the floated entity greater than 20%; and\n\n(c) that is not part of a scheme for the purpose of minimising duty otherwise payable under this Act;\n\n***roll-over*** means a roll-over that occurs on or after 1 July 2008 in the circumstances set out in section 124-1045 of the ITAA;\n\n***stapled entity*** has the same meaning as in section 124-1045(2) of the ITAA.\n\nS. 250DI inserted by No. 31/2008 s. 12, amended by No. 38/2012 s. 10, substituted by No. 17/2019 s. 29.\n\n\t250DI Concession for relevant acquisitions\n\nThe duty chargeable on a relevant acquisition to which section 83 applies made by an exchanging member in the course of, or as a result of, a roll‑over, is 10% of the duty that would otherwise be chargeable under this Act on the relevant acquisition if—\n\n(a) the shares or units in the stapled entities to which the roll-over relates are listed; or\n\n(b) the Commissioner is satisfied that the shares or units in the stapled entities to which the roll-over relates are intended to be listed within 3 years from the date of the relevant acquisition.\n\nSs 250DJ, 250DK inserted by No. 31/2008 s. 12, repealed by No. 17/2019 s. 30.\n\nCh. 11 Pt 2 Div. 2 (Heading and ss 250E−250M) amended by Nos 113/2003 s. 5, 71/2004 s. 26, 36/2005 s. 21, 26/2007 s. 110(b), 31/2008 s. 13, 69/2011 s. 24, 38/2012 s. 11, repealed by No. 17/2019 s. 31.\n\nCh. 11 Pt 3 (Heading) inserted by No. 113/2003 s. 6(a).\n\nPart 3—Managed investment schemes\n\n","sortOrder":392},{"sectionNumber":"251","sectionType":"section","heading":"Managed investment schemes","content":"\t251 Managed investment schemes\n\nThe following are exempt from duty under this Act—\n\n(a) a transfer of property from—\n\n(i) a responsible entity of a managed investment scheme; or\n\nS. 251(a)(ii) amended by No. 71/2004 s. 27.\n\n(ii) a person who held the property as a trustee of a prescribed interest scheme within the meaning of the Corporations Law as in force immediately before 1 July 1998 when the scheme became a registered scheme within the meaning of Division 11 of Part 11.2 of the Corporations Law (as continued in effect by section 1408 of the Corporations Act)—\n\nto a custodian or agent of the responsible entity as custodian or agent of the scheme in which the transferor held the property;\n\n(b) a transfer of property from the custodian of the responsible entity of a managed investment scheme to the responsible entity;\n\n(c) an instrument that—\n\n(i) amends, varies or replaces an instrument that establishes or governs a managed investment scheme; and\n\n(ii) does not transfer, or have the effect of transferring, any property to a person who does not hold units in the scheme; and\n\n(iii) does not have the effect of reducing the number of persons who hold units in the scheme;\n\n(d) a declaration—\n\n(i) made by a trustee in respect of property that, immediately before the trust is declared, is held by the trustee as trustee of the prescribed interest scheme within the meaning of the Corporations Law as in force immediately before 1 July 1998; and\n\n(ii) to hold the property on trust for the responsible entity of the managed investment scheme.\n\nCh. 11 Pt 3A (Heading and s. 251AA) inserted by No. 18/2023 s. 5.\n\n","sortOrder":393},{"sectionNumber":"Part 3A","sectionType":"part","heading":"Corporate collective investment vehicles","content":"Part 3A—Corporate collective investment vehicles\n\nS. 251AA inserted by No. 18/2023 s. 5.\n\n\t251AA Corporate collective investment vehicles\n\nNo duty is chargeable under this Act in respect of a transfer of dutiable property from either of the following to the other—\n\n(a) a CCIV taken to be the trustee of a unit trust scheme;\n\n(b) a person acting as a custodian of the CCIV in respect of the same unit trust scheme.\n\nSection 3J contains general provisions regarding the application of this Act to CCIVs.\n\nCh. 11 Pt 4 (Heading) inserted by No. 113/2003 s. 6(b).\n\nPart 4—Mortgage-backed securities\n\nS. 251A inserted by No. 46/2001 s. 20.\n\n","sortOrder":394},{"sectionNumber":"251A","sectionType":"section","heading":"Mortgage-backed securities","content":"\t251A Mortgage-backed securities\n\n(1) No duty is chargeable under this Act in respect of a mortgage over the interest of a person in a pool of mortgages relating to debt securities that are mortgage-backed securities issued by the person to secure the repayment of financial accommodation provided to the person.\n\n(2) No duty is chargeable under this Act in respect of a mortgage of a mortgage or pool of mortgages or part of a pool of mortgages in connection with creating, issuing, marketing or securing a mortgage-backed security.\n\n(3) No duty is chargeable under this Act in respect of—\n\n(a) the issue or making of a mortgage-backed security; or\n\n(b) the transfer or assignment of or other dealing with a mortgage-backed security; or\n\n(c) the discharge, cancellation or termination of a mortgage-backed security.\n\n(4) No duty is chargeable under this Act in respect of a mortgage of a mortgage or pool of mortgages or part of a pool of mortgages for the purpose of creating, issuing, marketing or securing a mortgage-backed security—\n\n(a) to a person entitled to a mortgage-backed security or a trustee or agent for such a person; or\n\n(b) by or to a person who issues, makes or endorses a mortgage-backed security; or\n\n(c) to a person who provides security (whether as a guarantor, surety or  \notherwise) to a person entitled to a mortgage‑backed security or a trustee or agent for such a person—\n\nif the mortgage is executed on or after 1 July 2001.\n\nS. 251B inserted by No. 46/2001 s. 20.\n\n","sortOrder":395},{"sectionNumber":"251B","sectionType":"section","heading":"Instruments issued for the purpose of creating, issuing or marketing mortgage-backed securities","content":"\t251B Instruments issued for the purpose of creating, issuing or marketing mortgage-backed securities\n\nNo duty is chargeable under this Act in respect of an instrument that, in the Commissioner's opinion, was executed for the purpose of creating, issuing or marketing mortgage-backed securities.\n\n","sortOrder":396},{"sectionNumber":"Part 12","sectionType":"part","heading":"Administration and enforcement","content":"Chapter 12—Administration and enforcement\n\nPart 1—Stamping instruments\n\nS. 251C inserted by No. 69/2013 s. 6.\n\n","sortOrder":397},{"sectionNumber":"251C","sectionType":"section","heading":"Definitions","content":"\t251C Definitions\n\nIn this Part—\n\n***electronic instrument*** means a registry instrument that is prepared in an electronic form to be lodged electronically for the purposes of land titles legislation by means of an ELN;\n\n***land titles legislation*** has the same meaning as in section 5 of the **Electronic Conveyancing (Adoption of National Law) Act 2013**;\n\n***registry instrument*** has the same meaning as in section 4(1) of the **Transfer of Land Act 1958**.\n\n","sortOrder":398},{"sectionNumber":"252","sectionType":"section","heading":"Provision of stamps","content":"\t252 Provision of stamps\n\nThe Commissioner may provide stamps or any other equipment that may be required for—\n\n(a) stamping instruments; or\n\n(b) otherwise denoting the payment of duty—\n\nin accordance with the provisions of this Act.\n\n","sortOrder":399},{"sectionNumber":"253","sectionType":"section","heading":"Limitation on use of designated stamps","content":"\t253 Limitation on use of designated stamps\n\n(1) A person must not use a stamp that by its terms is limited to an instrument of a specified kind for an instrument of a different kind.\n\ns. 253(1) inserted by No. 13/2013 s. 56(2).\n\n(2) An instrument of a specified kind for which a particular stamp is specified is taken not to be duly stamped unless it is stamped with the stamp so specified.\n\n","sortOrder":400},{"sectionNumber":"254","sectionType":"section","heading":"Form of stamps to be used","content":"\t254 Form of stamps to be used\n\n(1) An instrument that is required to be stamped by this Act is to be stamped by means of an impressed stamp.\n\n(2) However, another form of stamping may be used if its use is authorised by this Act or the Commissioner.\n\nS. 255 amended by No. 36/2010 s. 7 (ILA s. 39B(1)).\n\n","sortOrder":401},{"sectionNumber":"255","sectionType":"section","heading":"Stamping of instruments","content":"\t255 Stamping of instruments\n\n(1) The Commissioner must stamp an instrument in respect of which duty is chargeable under this Act or that effects or evidences a dutiable transaction and that has been lodged with the Commissioner if the duty, and any interest or penalty tax under Part 5 of the **Taxation Administration Act 1997**, is paid in full.\n\nS. 255(2) inserted by No. 36/2010 s. 7.\n\n(2) Subsection (1) does not apply to an instrument if authentication of the payment of duty is provided in a manner approved by the Commissioner under section 255A.\n\nS. 255A inserted by No. 36/2010 s. 8.\n\n","sortOrder":402},{"sectionNumber":"255A","sectionType":"section","heading":"Authentication of payment of duty using on-line duty payment system","content":"\t255A Authentication of payment of duty using on-line duty payment system\n\n(1) The Commissioner may authenticate in any manner approved by the Commissioner that the on-line duty payment system has been used in respect of a dutiable transaction and—\n\n(a) the duty payable on the dutiable transaction has been paid in full; or\n\n(b) no duty has been determined to be payable on the dutiable transaction.\n\nS. 255A(2) amended by No. 69/2013 s. 7.\n\n(2) If the Commissioner authenticates under subsection (1) that duty has been paid or that no duty has been determined to be payable, the instrument or electronic instrument that effects or evidences the dutiable transaction is taken to be duly stamped for the purposes of this Act.\n\n","sortOrder":403},{"sectionNumber":"256","sectionType":"section","heading":"When is an instrument duly stamped?","content":"\t256 When is an instrument duly stamped?\n\nAn instrument is duly stamped if it is stamped in accordance with this Act.\n\n","sortOrder":404},{"sectionNumber":"257","sectionType":"section","heading":"Adhesive stamps","content":"\t257 Adhesive stamps\n\n(1) An adhesive stamp may be used to stamp the following instruments—\n\n(a) a transfer of shares of a corporation or company that is not the legal or beneficial owner of land in Victoria, if the monetary consideration for the transfer is not less than the unencumbered value of the shares;\n\n(b) a transfer of units in a unit trust scheme if the monetary consideration for the transfer is not less than the unencumbered value of the units;\n\n(c) a lease or an assignment of a lease;\n\n(d) a mortgage securing an amount not exceeding $10 000.\n\n(2) An instrument that may be stamped by use of an adhesive stamp is not duly stamped unless—\n\n(a) an adhesive stamp for the appropriate amount of duty is attached to the instrument; and\n\n(b) the adhesive stamp is cancelled by marking the date of its cancellation on its face in such a way as to render it incapable of being used for any other instrument.\n\n(3) Subject to subsection (4), a person must not remove an adhesive stamp that has been attached to an instrument and cancelled.\n\ns. 257(3) inserted by No. 13/2013 s. 56(3).\n\n(4) The Commissioner may remove an adhesive stamp that has been attached to an instrument and cancelled after an application for a refund of the duty denoted by the stamp has been approved.\n\n","sortOrder":405},{"sectionNumber":"258","sectionType":"section","heading":"Licences to deal in stamps","content":"\t258 Licences to deal in stamps\n\n(1) The Commissioner may, on any terms and conditions he or she determines, grant a licence to a person to sell stamps.\n\n(2) The licence must include the name and address of the licensee.\n\n(3) The Commissioner may sell stamps to a licensee at the commission discount determined by the Commissioner.\n\n(4) The Commissioner may re-purchase any stamps sold to a licensee if the licensee no longer requires them.\n\n(5) The Commissioner may cancel a licence granted under this section at any time by giving notice of the cancellation to the licensee.\n\n(6) A person who is not licensed under this section must not sell or deal in stamps.\n\n1. 20 penalty units.\n\ns. 258(6) inserted by No. 13/2013 s. 56(3).\n\n","sortOrder":406},{"sectionNumber":"259","sectionType":"section","heading":"Refunds—spoiled and unused stamps","content":"\t259 Refunds—spoiled and unused stamps\n\n(1) A person may apply to the Commissioner for a refund of the value of adhesive stamps that have become spoiled or useless.\n\n(2) The spoiled or useless stamps must be produced to the Commissioner.\n\n(3) If an adhesive stamp is erroneously placed on a document, an application for a refund may be made as if the stamp were spoiled.\n\n","sortOrder":407},{"sectionNumber":"260","sectionType":"section","heading":"Reassessments—failed instruments","content":"\t260 Reassessments—failed instruments\n\nS. 260(1) substituted by No. 37/2009 s. 11.\n\n(1) The Commissioner may make a reassessment of duty that is charged under this Act in respect of a transfer or transaction if—\n\n(a) the Commissioner is satisfied that the instrument that is intended to effect the transfer or transaction has failed to give effect to the transfer or transaction; and\n\n(b) an application for reassessment of duty under this subsection is made within 5 years after the initial assessment.\n\nS. 260(2) amended by No. 26/2007 s. 110(b), repealed by No. 37/2009 s. 11.\n\n(3) The instrument in respect of which the application is made must be produced to the Commissioner unless the Commissioner dispenses with its production.\n\nS. 261 amended by No. 46/2001 s. 21.\n\n","sortOrder":408},{"sectionNumber":"261","sectionType":"section","heading":"Instruments to be separately charged with duty in certain cases","content":"\t261 Instruments to be separately charged with duty in certain cases\n\nAn instrument that contains, gives effect to, or relates to, two or more distinct matters or transactions is to be separately and distinctly charged with duty in respect of each such matter or transaction, as if each matter was expressed in a separate instrument.\n\n","sortOrder":409},{"sectionNumber":"262","sectionType":"section","heading":"Execution of instruments","content":"\t262 Execution of instruments\n\nFor the purposes of this Act, an instrument described in column 1 of the Table is taken to be executed when it is executed by the parties specified in column 2 opposite that instrument.\n\n| *Column 1*<br>*Instrument type* | *Column 2*<br>*Executing parties* |\n| Transfer of land under the **Transfer of Land Act 1958** | Transferor and transferee |\n| Conveyance of land (general law) | Grantor |\n| Transfer of marketable securities | Transferor and transferee |\n| Mortgage | Mortgagor or person who gives the mortgage |\n| Lease | Lessor and lessee (whether both execute the original lease or one executes the original and the other executes a counterpart) |\n| Assignment of lease | Assignor |\n| Declaration of trust | Settlor |\n\n","sortOrder":410},{"sectionNumber":"263","sectionType":"section","heading":"Counterparts and replicas","content":"\t263 Counterparts and replicas\n\n(1) The Commissioner may stamp a counterpart or replica of an instrument chargeable with duty under this Act if the Commissioner is satisfied that—\n\n(a) the instrument chargeable with duty has been duly stamped; or\n\n(b) that the correct duty has been paid on the instrument chargeable with duty.\n\n(2) The stamp on a counterpart or replica must indicate that the correct duty has been paid on the instrument of which it is a counterpart or replica.\n\n***replica*** means an instrument that—\n\n(a) is executed to replace; and\n\n(b) contains the same terms as, but no other terms than, those contained in—\n\na previously executed instrument that has been lost, spoiled or destroyed.\n\nPart 2—Authorisation of returns systems\n\n","sortOrder":411},{"sectionNumber":"264","sectionType":"section","heading":"Authorised persons","content":"\t264 Authorised persons\n\nS. 264(1) amended by No. 46/2001 s. 22(1).\n\n(1) The Commissioner may, by written notice, authorise specified persons, or persons of a specified class, to be authorised persons in relation to a specified class of instruments or transactions that are, or but for an exemption would be, chargeable with duty under this Act.\n\nS. 264(2) substituted by No. 46/2001 s. 22(2).\n\n(2) An authorisation may be given on the initiative of the Commissioner or on application.\n\nS. 264(3) inserted by No. 46/2001 s. 22(2).\n\n(3) The Commissioner may vary or cancel an authorisation by written notice.\n\nS. 264A inserted by No. 46/2001 s. 23.\n\n","sortOrder":412},{"sectionNumber":"264A","sectionType":"section","heading":"Application for authorisation","content":"\t264A Application for authorisation\n\n(1) An application for an authorisation under this Part must be made to the Commissioner in the approved form.\n\n(2) The Commissioner may grant or refuse an application for an authorisation under this Part.\n\nS. 264B inserted by No. 46/2001 s. 23.\n\n","sortOrder":413},{"sectionNumber":"264B","sectionType":"section","heading":"Conditions of authorisation","content":"\t264B Conditions of authorisation\n\n(1) An authorisation under this Part is subject to any conditions specified by the Commissioner in the notice of authorisation or by subsequent written notice.\n\n(2) The conditions of an authorisation may include—\n\n(a) conditions as to the means by which returns are to be lodged or payments are to be made;\n\n(b) conditions requiring the payment of interest, calculated at the interest rate determined in accordance with section 25 of the **Taxation Administration Act 1997**, on any amounts that are not paid at the times they are required to be paid in accordance with the authorisation.\n\n(3) If an authorisation is given under this Part to a specified person or persons of a specified class, the conditions of the authorisation are binding on that person or persons of that class and that person or a person of that class is guilty of an offence if any of the conditions is contravened.\n\n1. 100 penalty units in the case of a body corporate;\n\n20 penalty units in any other case.\n\ns. 264B(3) inserted by No. 13/2013 s. 56(2).\n\nS. 264C inserted by No. 46/2001 s. 23.\n\n","sortOrder":414},{"sectionNumber":"264C","sectionType":"section","heading":"Gazettal or service of notices","content":"\t264C Gazettal or service of notices\n\nA written notice under this Part may be given by—\n\n(a) publishing it in the Government Gazette; or\n\n(b) serving it on the person to whom it relates.\n\n","sortOrder":415},{"sectionNumber":"265","sectionType":"section","heading":"Endorsement of instruments by authorised persons","content":"\t265 Endorsement of instruments by authorised persons\n\n(1) An authorised person may endorse in the approved manner—\n\n(a) an instrument in the class of instruments; or\n\n(b) an instrument effecting or evidencing a transaction in the class of transactions—\n\nin relation to which the person is authorised.\n\n(2) If duty is chargeable on the instrument or transaction, the endorsement must specify the amount of duty chargeable.\n\nS. 265(3) substituted by No. 46/2001 s. 24(1).\n\n(3) An instrument is taken—\n\n(a) to be duly stamped to the amount of duty shown on the endorsement; or\n\n(b) to be duly stamped as exempt from duty if the endorsement states that the instrument or transaction is exempt—\n\nbut without affecting liability for the payment of duty in relation to the instrument or transaction under this Act.\n\n(4) An authorised person must keep a record in the approved form of endorsements made under this section.\n\nS. 265(5) amended by No. 46/2001 s. 24(2).\n\n(5) An authorised person must not knowingly—\n\n(a) endorse an instrument with an amount of duty less than the amount with which it is chargeable under this Act; or\n\n(b) otherwise endorse an instrument except in the approved manner.\n\nS. 265(6) inserted by No. 46/2001 s. 24(3).\n\n(6) If an authorised person contravenes subsection (5), the Commissioner may recover in a court of competent jurisdiction as a debt due to the State an amount equal to double the amount that would have been payable by the authorised person under section 266 had the correct amount of duty been endorsed on the instrument.\n\n","sortOrder":416},{"sectionNumber":"266","sectionType":"section","heading":"Payment of duty by authorised persons","content":"\t266 Payment of duty by authorised persons\n\n(1) An authorised person must, in accordance with this section—\n\n(a) lodge a return with the Commissioner specifying the total of all amounts of duty endorsed on instruments by the authorised person under section 265; and\n\n(b) pay to the Commissioner a sum equal to that total.\n\n1. 20 penalty units plus an amount equal to double the amount that would have been payable if the provision had been complied with.\n\ns. 266(1) inserted by No. 13/2013 s. 56(2).\n\n(2) The return is to be lodged, and the sum paid, at the intervals, and in respect of the periods, determined by the Commissioner.\n\n","sortOrder":417},{"sectionNumber":"267","sectionType":"section","heading":"Offset of overpaid amounts","content":"\t267 Offset of overpaid amounts\n\n(1) This section applies if an authorised person pays a sum to the Commissioner in respect of a period that is greater than the total amount of duty chargeable on each instrument, or on the transactions effected or evidenced by each instrument, endorsed by the authorised person during that period because the authorised person—\n\n(a) miscalculated the amount of duty with which an instrument or transaction is chargeable; or\n\n(b) made a mistake adding up the total of all amounts endorsed on the instruments.\n\nS. 267(2) amended by No. 26/2007 s. 110(b).\n\n(2) The authorised person may reduce the sum payable in respect of the next or a subsequent period (being a period within 5 years after the date on which the overpayment was made) by the amount overpaid.\n\n(3) An authorised person who reduces an amount under this section must lodge a statement with the Commissioner at the time of making the reduction giving details of the overpayment.\n\n(4) If the overpayment was caused by miscalculating the amount of duty chargeable on an instrument or transaction, the authorised person—\n\n(a) must re-endorse the instrument in the approved manner with the correct amount of duty; and\n\n(b) if the authorised person has charged to, or recovered from, another person an amount in respect of the overpayment—must reimburse that person for the amount charged or recovered.\n\n","sortOrder":418},{"sectionNumber":"268","sectionType":"section","heading":"Unauthorised endorsement","content":"\t268 Unauthorised endorsement\n\n(1) An authorised person must not endorse an instrument in a class of instruments in relation to which the person is not authorised.\n\n(2) A person who is not an authorised person must not endorse an instrument in any manner that indicates that the person is an authorised person.\n\nNote to s. 268 inserted by No. 13/2013 s. 56(5).\n\nSection 130C of the **Taxation Administration Act 1997** applies to an offence against subsection (1) or (2).\n\nPart 3—Enforcement\n\nS. 269 amended by No. 69/2013 s. 8.\n\n","sortOrder":419},{"sectionNumber":"269","sectionType":"section","heading":"Registration of instruments","content":"\t269 Registration of instruments\n\nA person must not register in a register of legal or beneficial interests in dutiable property an instrument that effects a dutiable transaction, an electronic instrument that effects or evidences a dutiable transaction or an instrument chargeable with duty unless—\n\n(a) it is duly stamped; or\n\nS. 269(b) amended by No. 46/2001 s. 25.\n\n(b) it is stamped by the Commissioner or in a manner approved by the Commissioner; or\n\nS. 269(c) inserted by No. 46/2001 s. 25, amended by No. 71/2004 s. 28.\n\n(c) it is marked \"interim stamp only\" in accordance with section 30.\n\nNote to s. 269 inserted by No. 13/2013 s. 56(1).\n\n","sortOrder":420},{"sectionNumber":"270","sectionType":"section","heading":"Registration of transfer of shares in private companies","content":"\t270 Registration of transfer of shares in private companies\n\n(1) A private company must not enter in its records a transfer of shares on which duty is charged under this Act unless—\n\n(a) a transfer has been delivered to the private company; and\n\n(b) the transfer is duly stamped.\n\ns. 270(1) inserted by No. 13/2013 s. 56(3).\n\n(2) For the purposes of this section, a private company is entitled to assume that an instrument is duly stamped if—\n\n(a) it bears any of the following—\n\n(i) an impressed stamp;\n\n(ii) an adhesive stamp, unless the company is the legal or beneficial owner of land in Victoria;\n\n(iii) an endorsement under section 265;\n\n(iv) an endorsement in accordance with an approval under section 39 of the **Taxation Administration Act 1997**;\n\n(v) an exempt stamp; or\n\n(b) it is accompanied by a current exemption certificate.\n\n","sortOrder":421},{"sectionNumber":"271","sectionType":"section","heading":"Registration of transfer of units","content":"\t271 Registration of transfer of units\n\n(1) The trustee or manager of a unit trust scheme must not enter in its records a transfer of units on which duty is charged under this Act unless—\n\n(a) a proper instrument of transfer has been delivered to the trustee or manager; and\n\n(b) the instrument is duly stamped.\n\ns. 271(1) inserted by No. 13/2013 s. 56(3).\n\n(2) For the purposes of this section, the trustee or manager of a unit trust scheme is entitled to assume that an instrument is duly stamped if—\n\n(a) it bears any of the following—\n\n(i) an impressed stamp;\n\n(ii) an adhesive stamp;\n\n(iii) an endorsement under section 265;\n\n(iv) an endorsement in accordance with an approval under section 39 of the **Taxation Administration Act 1997**;\n\n(v) an exempt stamp; or\n\n(b) it is accompanied by a current exemption certificate.\n\nS. 271(3) amended by No. 44/2001 s. 3(Sch. item 32.7).\n\n(3) A reference in this section to the trustee or manager of a unit trust scheme includes a reference to the responsible entity, or to a custodian or agent of the responsible entity, of a managed investment scheme that is not registered under Chapter 5C of the Corporations Act.\n\n","sortOrder":422},{"sectionNumber":"272","sectionType":"section","heading":"Receipt of instruments in evidence","content":"\t272 Receipt of instruments in evidence\n\n(1) An instrument that effects a dutiable transaction or is chargeable with duty under this Act is not available for use in law or equity for any purpose and may not be presented in evidence in a court or tribunal exercising civil jurisdiction unless—\n\n(a) it is duly stamped; or\n\n(b) it is stamped by the Commissioner or in a manner approved by the Commissioner.\n\n(2) A court or tribunal may admit in evidence an instrument that effects a dutiable transaction, or is chargeable with duty in accordance with the provisions of this Act, and that does not comply with subsection (1)—\n\n(a) if the instrument is after its admission transmitted to the Commissioner in accordance with arrangements approved by the court or tribunal; or\n\n(b) if (where the person who produces the instrument is not the person liable to pay the duty) the name and address of the person so liable is forwarded, together with the instrument, to the Commissioner in accordance with arrangements approved by the court or tribunal.\n\n(3) A court or tribunal may admit in evidence an unexecuted counterpart of an instrument that effects a dutiable transaction, or is chargeable with duty in accordance with the provisions of this Act, if the court or tribunal is satisfied that—\n\n(a) the instrument of which it is a counterpart is duly stamped, or is stamped in a manner approved by the Commissioner; or\n\n(b) the counterpart is duly stamped under section 263.\n\nS. 273 substituted by No. 46/2004 s. 15.\n\n","sortOrder":423},{"sectionNumber":"273","sectionType":"section","heading":"Valuation of property","content":"\t273 Valuation of property\n\n(1) The Commissioner may require a person who is liable to duty determined by reference to the value of property to provide—\n\n(a) a declaration by a competent valuer as to the unencumbered value of the property; or\n\n(b) any other evidence of that value that the Commissioner thinks fit.\n\n(a) a taxpayer provides information to the Commissioner as to the value of any property that is relevant to an assessment of duty (whether in compliance with a requirement under subsection (1) or otherwise); and\n\n(b) the Commissioner considers that the value of the property is understated—\n\nthe Commissioner may refer the matter to the Valuer-General or another competent valuer for valuation of the property.\n\n(3) The taxpayer must pay the cost of a valuation under subsection (2) if—\n\n(a) that valuation exceeds the valuation provided by the taxpayer by 15% or more; and\n\n(b) the taxpayer does not object to the assessment of duty based on the valuation under subsection (2) or, if the taxpayer does object, the valuation of the property as determined on objection, appeal or review exceeds the valuation provided by the taxpayer by 15% or more.\n\nS. 273(4) inserted by No. 85/2005 s. 15.\n\n(4) If a valuation of property covers more than one parcel of land, subsection (3) applies in relation to the valuation of each single parcel of land.\n\nS. 273(5) inserted by No. 85/2005 s. 15.\n\n(5) Subsection (4) does not apply if the valuation under subsection (2) does not lead to an increase in the tax liability of the taxpayer.\n\nA taxpayer is liable to duty on the aggregate value of 3 parcels of land. The taxpayer provides a valuation of each parcel and a valuation is also obtained under subsection (2). If the valuation of any one of those parcels under subsection (2) exceeds the valuation of that parcel provided by the taxpayer by 15% or more and the taxpayer does not object, or the valuation of that parcel as determined on objection, appeal or review exceeds the taxpayer's valuation by 15% or more, the taxpayer must pay the cost of the valuation of that parcel, unless the valuation under subsection (2) does not lead to an increase in the taxpayer's total liability for duty.\n\n","sortOrder":424},{"sectionNumber":"274","sectionType":"section","heading":"Ascertainment of value of certain items","content":"\t274 Ascertainment of value of certain items\n\nIf it is necessary for the purpose of assessing duty under this Act to ascertain the value of—\n\n(a) any estate or annuity or interest for the life of any person; or\n\n(b) any estate or annuity or interest determinable on or subject to any contingency or the happening of any event; or\n\n(c) any estate or annuity or interest in remainder expectant on the death of any person or expectant on or subject to any contingency or the happening of any event—\n\nregard may be had in ascertaining the value of any such property to the death of the person having the life estate or annuity or interest or the happening of the contingency or event at any time before the assessment of duty is actually made.\n\n","sortOrder":425},{"sectionNumber":"275","sectionType":"section","heading":"Impounding of instruments","content":"\t275 Impounding of instruments\n\n(1) The Commissioner may impound any instrument that ought to be but is not stamped or is insufficiently stamped.\n\n(2) The Commissioner may retain any impounded instrument until the duty or any interest or penalty tax, or all such amounts, have been paid.\n\n","sortOrder":426},{"sectionNumber":"276","sectionType":"section","heading":"Injunction to prevent unregistered businesses trading","content":"\t276 Injunction to prevent unregistered businesses trading\n\nThe Supreme Court, on application by the Commissioner, may grant an injunction restraining a person who is required to be registered under this Act in respect of a business carried on by the person from carrying on such a business unless the person is so registered.\n\nNew s. 277 inserted by No. 40/2016 s. 8.\n\n","sortOrder":427},{"sectionNumber":"277","sectionType":"section","heading":"First charge on land—foreign purchasers of residential property","content":"\t277 First charge on land—foreign purchasers of residential property\n\n(a) a transferee is liable to pay duty under section 18A or 28A in relation to a transaction that occurs on or after 1 July 2015; and\n\n(b) a tax default occurs for the purposes of the **Taxation Administration Act 1997** in relation to the transaction; and\n\n(c) on or after 1 July 2016, the Commissioner makes an assessment or reassessment in relation to the transaction.\n\n(2) Any unpaid duty (including any penalty tax and interest) in relation to the transaction is a first charge on the land to which the transaction relates.\n\n(3) The charge has priority over all other encumbrances to which the land is subject.\n\nNew s. 278 inserted by No. 40/2016 s. 8.\n\n","sortOrder":428},{"sectionNumber":"278","sectionType":"section","heading":"Registration of charge","content":"\t278 Registration of charge\n\n(1) The Commissioner may register a charge on land under section 277(2) by depositing with the Registrar of Titles a certificate describing the land charged and stating that there is unpaid duty in relation to the land.\n\n(2) The Registrar of Titles must make a recording of the certificate in the Register.\n\n(3) When the unpaid duty (including any penalty tax and interest) is paid, the Commissioner may request the Registrar of Titles—\n\n(a) to remove or delete the charge; or\n\n(b) to make a recording in the Register of the discharge of the charge.\n\n(4) The Registrar of Titles must comply with a request made by the Commissioner under subsection (3).\n\nChapter 12 Pt 4  \n(Heading and ss 277–281) repealed by No. 46/2001 s. 26.\n\n","sortOrder":429},{"sectionNumber":"Part 13","sectionType":"part","heading":"General","content":"Chapter 13—General\n\n","sortOrder":430},{"sectionNumber":"282","sectionType":"section","heading":"Payments from Consolidated Fund","content":"\t282 Payments from Consolidated Fund\n\nIf the Commissioner is authorised or required to pay an amount under this Act, the amount is to be paid from the Consolidated Fund which is appropriated by this section to the necessary extent.\n\nS. 282A inserted by No. 50/2024 s. 32.\n\n","sortOrder":431},{"sectionNumber":"282A","sectionType":"section","heading":"Imposition of foreign purchaser additional duty","content":"\t282A Imposition of foreign purchaser additional duty\n\n(a) a foreign purchaser duty event occurred; and\n\n(b) duty was purportedly charged on the foreign purchaser duty event at the rate set out in section 18A or 28A that applied at the relevant time; and\n\n(c) the duty was purportedly payable on or after 1 January 2018 and before 8 April 2024; and\n\n(d) the purported charging of duty on the foreign purchaser duty event was invalid only because the provisions of this Act that purportedly charged the duty were to any extent invalid or inoperative under section 109 of the Constitution of the Commonwealth because of an inconsistency with a provision of an agreement given the force of law by section 5(1) of the International Tax Agreements Act 1953 of the Commonwealth.\n\n(2) Duty is charged on the foreign purchaser duty event.\n\n(3) The liability for duty charged under subsection (2) on a foreign purchaser duty event is taken to have arisen, and to have always arisen, at the same time as liability for the purported duty on the foreign purchaser duty event would have arisen if the purported duty had been validly charged.\n\n(4) The duty charged under subsection (2) on a foreign purchaser duty event is payable by, and is taken to have always been payable by, the person who would have been liable for the purported duty on the foreign purchaser duty event if the purported duty had been validly charged.\n\n(5) The amount of duty payable under subsection (2) on a foreign purchaser duty event is the same amount, and is taken to have always been the same amount, as the amount of duty that would have been payable on the foreign purchaser duty event if the purported duty had been validly charged.\n\n(6) The rights and liabilities of a person in relation to duty charged under subsection (2) on a foreign purchaser duty event are taken to be, and to have always been, the same as if the purported duty on the foreign purchaser duty event had been validly charged.\n\n(7) Any act or thing done or omitted to be done by a person in relation to a foreign purchaser duty event referred to in subsection (1) or the purported duty on the foreign purchaser duty event has, and is taken to have always had, the same force and effect as if it were done or omitted to be done in relation to duty charged under subsection (2).\n\n(8) In this section—\n\n***foreign purchaser duty event*** means an event or circumstance that, if not for the inconsistency referred to in subsection (1)(d), would have resulted in—\n\n(a) duty being payable under section 18A at the rate set out in that section; or\n\n(b) duty being chargeable under Chapter 2 or 3 at the rate set out in section 28A;\n\n***purported duty***, in relation to a foreign purchaser duty event, means duty referred to in subsection (1) that was purportedly charged on the foreign purchaser duty event.\n\n","sortOrder":432},{"sectionNumber":"283","sectionType":"section","heading":"Regulations","content":"\t283 Regulations\n\n(1) The Governor in Council may make regulations for or with respect to any matter or thing required or permitted by this Act to be prescribed or that is necessary to be prescribed to give effect to this Act.\n\n(2) A regulation may create an offence punishable by a penalty not exceeding 20 penalty units.\n\n","sortOrder":433},{"sectionNumber":"Part 14","sectionType":"part","heading":"Repeals, consequential amendments and transitional provisions","content":"Chapter 14—Repeals, consequential amendments and transitional provisions\n\nS. 284 repealed by No. 28/2007 s. 3(Sch. item 18).\n\nS. 285 repealed by No. 85/2005 s. 17.\n\n","sortOrder":434},{"sectionNumber":"286","sectionType":"section","heading":"Transitional provisions","content":"\t286 Transitional provisions\n\nSchedule 2 has effect.\n\nSchedules\n\nSch. 1 (Heading) substituted by No. 26/2015 s. 13(1).\n\nSch. 1 amended by No. 46/2001 ss 27, 28, repealed by No. 85/2005 s. 17, new Sch. 1 inserted by No. 26/2015 s. 12, amended by No. 26/2015 s. 13(2)-(4).\n\nSchedule 1—Special purpose vehicles and mobile plant\n\nSections 233, 233AA and 233AB\n\n\t1 Special purpose vehicle (type O)\n\nFor the purposes of section 233(4)—\n\n***special purpose vehicle (type O)*** means a special purpose vehicle (other than a special purpose vehicle (type P))—\n\n(a) built, or permanently modified, primarily for use on roads; and\n\n(b) that has at least one axle or axle group loaded in excess of the axle load limits specified in the Table at the foot of this definition.\n\nMobile cranes, fire engines, truck-mounted concrete pumps and boring plants are special purpose vehicles (type O).\n\n**Table**\n\n**Axle load limits**\n\n| *Column 1*<br>*Item No.* | *Column 2*<br>*Type of axle or axle group* | *Column 3*<br>*Axle load limit* |\n| 1 | Single axles |  |\n|  | (a) 2 tyres | 6⋅0 tonnes |\n|  | (b) 2 wide profile tyres— |  |\n|  | (i) 375 millimetres to 450 millimetres | 6⋅7 tonnes |\n|  | (ii) over 450 millimetres | 7⋅0 tonnes |\n|  | (c) 4 or more tyres— |  |\n|  | (i) on pig trailers | 8⋅5 tonnes |\n|  | (ii) on other vehicles | 9⋅0 tonnes |\n| 2 | Twinsteer axle groups |  |\n|  | (a) non-load-sharing suspensions | 10⋅0 tonnes |\n|  | (b) load-sharing suspensions | 11⋅0 tonnes |\n| 3 | Tandem axle groups |  |\n|  | (a) 4 tyres | 11⋅0 tonnes |\n|  | (b) 4 wide profile tyres— |  |\n|  | (i) 375 millimetres to 450 millimetres | 13⋅3 tonnes |\n|  | (ii) over 450 millimetres | 14⋅0 tonnes |\n|  | (c) 6 tyres | 13⋅0 tonnes |\n|  | (d) 8 or more tyres— |  |\n|  | (i) on pig trailers | 15⋅0 tonnes |\n|  | (ii) on other vehicles | 16⋅5 tonnes |\n| 4 | Tri-axle groups |  |\n|  | (a) 6, 8 or 10 tyres | 15⋅0 tonnes |\n|  | (b) 6 wide profile tyres (375 millimetres or over)— |  |\n|  | (i) on pig trailers | 18⋅0 tonnes |\n|  | (ii) on other vehicles | 20⋅0 tonnes |\n|  | (c) 12 or more tyres— |  |\n|  | (i) on pig trailers | 18⋅0 tonnes |\n|  | (ii) on other vehicles | 20⋅0 tonnes |\n\nSch. 1 cl. 1A inserted by No. 26/2015 s. 13(3).\n\n","sortOrder":435},{"sectionNumber":"1A","sectionType":"section","heading":"Mobile plant","content":"\t1A Mobile plant\n\nFor the purposes of section 233AA—\n\n***mobile plant*** means a motor vehicle with an MRC not exceeding 4·5 tonnes, including a tractor—\n\n(a) that is not designed solely for carrying passengers; and\n\n(b) for which the carrying of a load is incidental to the purpose for which the vehicle was constructed, except water in the case of concrete pumps and fire trucks; and\n\n(c) that is not a tow truck.\n\nSch. 1 cl. 1B inserted by No. 26/2015 s. 13(3).\n\n","sortOrder":436},{"sectionNumber":"1B","sectionType":"section","heading":"Special purpose vehicle (type P)","content":"\t1B Special purpose vehicle (type P)\n\nFor the purposes of section 233AB—\n\n***special purpose vehicle (type P)*** means a special purpose vehicle built, or permanently modified, primarily for—\n\n(a) off-road use; or\n\n(b) use on a road related area; or\n\n(c) use on an area of road that is under construction or repair.\n\nAgricultural tractors, self-propelled agricultural harvesters, bulldozers, backhoes, graders and front-end loaders are special purpose vehicles (type P).\n\n\t2 Definitions\n\nIn this Schedule—\n\n***axle group*** means a single axle group, tandem axle group, twinsteer axle group, tri-axle group, quad-axle group or oversize tri-axle group;\n\n***drawbar*** means a part of a trailer, other than a semi-trailer, that connects the trailer body to a coupling for towing purposes;\n\n***light motor vehicle*** means a motor vehicle with an MRC not exceeding 4·5 tonnes;\n\n***light trailer*** means a trailer with an MRC not exceeding 4·5 tonnes;\n\n***light vehicle*** means a light motor vehicle or light trailer;\n\n***oversize tri-axle group*** means a group of 3 axles in which the horizontal distance between the centre lines of each axle is 1·8 metres;\n\n***pig trailer*** means a trailer—\n\n(a) with one axle group or single axle near the middle of its load-carrying surface; and\n\n(b) that connects to the vehicle towing it by a drawbar;\n\n***quad-axle group*** means a group of 4 axles, in which the horizontal distance between the centre lines of the outermost axles is more than 3·2 metres but not more than 4·9 metres;\n\n***road*** has the same meaning as in the **Road Safety Act 1986**;\n\n***road related area*** has the same meaning as in the **Road Safety Act 1986**;\n\n***semi-trailer*** has the same meaning as in the **Road Safety Act 1986**;\n\n***single axle*** means an axle not forming part of an axle group;\n\n***single axle group*** means a group of 2 or more axles, in which the horizontal distance between the centre lines of the outermost axles is less than 1⋅0 metre;\n\n***special purpose vehicle*** has the same meaning as in section 116(4) of the Heavy Vehicle National Law (Victoria);\n\nSch. 1 cl. 2 def. of *special purpose vehicle  \n(type P)* substituted by No. 26/2015 s. 13(4)(b).\n\n***special purpose vehicle (type P)*** has the same meaning as in clause 1B;\n\nAgricultural tractors, self-propelled agricultural harvesters, bulldozers, backhoes, graders and front-end loaders are special purpose vehicles (type P).\n\n***tandem axle group*** means a group of at least 2 axles, in which the horizontal distance between the centre lines of the outermost axles is at least 1⋅0 metre, but not more than 2⋅0 metres;\n\nSch. 1 cl. 2 def. of *tractor* inserted by No. 26/2015 s. 13(4)(a).\n\n***tractor*** has the same meaning as in the **Road Safety Act 1986**;\n\n***trailer*** has the same meaning as in the **Road Safety Act 1986**;\n\n***tri-axle group*** means a group of at least 3 axles, in which the horizontal distance between the centre lines of the outermost axles is more than 2·0 metres, but not more than 3·2 metres;\n\n***twinsteer axle group*** means a group of 2 axles—\n\n(a) with single tyres; and\n\n(b) fitted to a motor vehicle; and\n\n(c) connected to the same steering mechanism; and\n\n(d) the horizontal distance between the centre lines of which is at least 1·0 metre, but not more than 2·0 metres;\n\n***vehicle*** has the same meaning as in the **Road Safety Act 1986**.\n\nSchedule 2—Transitional provisions\n\n\t1 Definitions\n\nIn this Schedule—\n\n***commencement day*** means 1 July 2001;\n\n***former Act*** means the **Stamps Act 1958**.\n\n\t2 Savings and transitional regulations\n\nThe regulations may contain provisions of a savings and transitional nature consequent on the enactment of this Act.\n\n\t3 Application of Interpretation of Legislation Act 1984\n\nExcept where the contrary intention appears, this Schedule does not affect or take away from the **Interpretation of Legislation Act 1984**.\n\nSch. 2 cl. 4 amended by No. 46/2001 s. 29(1).\n\n\t4 Instruments\n\nThis Act applies to instruments first executed on or after the commencement day.\n\n\t5 Provisions relating to Chapter 2 (Transactions concerning dutiable property)\n\n(1) The duty charged by Chapter 2 is charged on dutiable transactions that occur on or after the commencement day, except as provided by this clause.\n\n(2) Section 24 extends to dutiable transactions at least one of which occurred before the commencement day and at least one of which occurred on or after the commencement day if they occurred within 12 months and the other provisions of section 24 are satisfied.\n\n(3) However, subclause (2) does not apply so as to aggregate transactions that occurred before the commencement day and that would not have been aggregated under the law in force immediately before that day.\n\nSch. 2  \ncl. 5(3A) inserted by No. 46/2001 s. 29(2).\n\n(3A) Despite subclause (2), section 68 of the former Act continues to apply to a dutiable transaction or series of dutiable transactions that take place on or after 1 July 2001 if the agreement giving rise to that transaction or series of transactions was entered into before 1 July 2001.\n\n(4) Section 35 extends to—\n\n(a) a transfer of dutiable property to a trustee or nominee; and\n\n(b) the payment of duty on that transfer—\n\nbefore the commencement day if the transfer back to the transferor occurs on or after that day.\n\nSch. 2 cl. 5(5) amended by Nos 79/2001 s. 11(1), 84/2006 s. 7.\n\n(5) Without limiting clause 12, the reference in section 36(1)(a), 36A(1)(a), 36B(1)(a) or 41A(1)(a) to duty charged by this Act includes a reference to duty charged by the former Act.\n\nSch. 2 cl. 5(6) inserted by No. 46/2001 s. 29(3).\n\n(6) Despite anything to the contrary in section 28, the rate of duty chargeable on a transfer of land that is made as a result of an agreement entered into before 21 April 1998 is chargeable to the nearest whole dollar of the amount determined as follows or, if that amount is an amount of dollars and fifty cents, to the nearest whole dollar below that amount—\n\n| **Dutiable value of the land** | **Rate of duty** |\n| Not more than $20 000 | 1⋅4% of the dutiable value |\n| More than $20 000 but not more than $100 000 | $280 plus 2⋅4% of that part of the dutiable value that exceeds $20 000 |\n| More than $100 000 but not more than $760 000 | $2200 plus 6% of that part of the dutiable value that exceeds $100 000 |\n| More than $760 000 | $41 800 plus 5⋅5% of the dutiable value that exceeds $760 000 |\n\n\t6 Provisions relating to Chapter 3 (Certain transactions treated as transfers)\n\n(1) The duty that is charged by Chapter 3 is charged on an acquisition that occurs on or after the commencement day except as provided by this clause.\n\n(2) For the purposes of sections 80(2)(e) and 83—\n\n(a) if an acquisition of an interest in a private corporation occurs in a month specified in column 1 of the Table, the period of 3 years specified in sections 80(2)(e) and 83 is taken instead to be the period specified opposite that month in column 2;\n\n| *Column 1*<br>*Month of acquisition* | *Column 2*<br>   Specified period |\n| July 2001 | 24 months |\n| August 2001 | 25 months |\n| September 2001 | 26 months |\n| October 2001 | 27 months |\n| November 2001 | 28 months |\n| December 2001 | 29 months |\n| January 2002 | 30 months |\n| February 2002 | 31 months |\n| March 2002 | 32 months |\n| April 2002 | 33 months |\n| May 2002 | 34 months |\n| June 2002 | 35 months. |\n\n(b) a reference to duty paid under this Act includes a reference to duty paid under the former Act; and\n\nSch. 2 cl. 6(2)(c) amended by No. 46/2001 s. 29(4).\n\n(c) a reference to duty paid under those sections is a reference to duty paid under Subdivision (7) of Division 3 of Part II of the former Act.\n\nSch. 2 cl. 6(3) substituted by No. 46/2001 s. 29(5).\n\n(3) However, subclause (2) and Chapter 3 do not apply so as to aggregate, for the purpose of determining whether a relevant acquisition has been made or whether duty is chargeable under this Act, interests that were acquired before the commencement day and that would not have been aggregated under the law as in force at the time the interests were acquired.\n\nSch. 2 cl. 7 substituted by No. 48/2001 s. 8.\n\n\t7 Provisions relating to the abolition of stamp duty on leases\n\n(1) If stamp duty under the former Act has been paid on any lease or agreement for a lease for any definite term of not less than 2 years and the lease is determined before the expiration of the full term in respect of which duty was paid, the Commissioner must, on application within 3 years after the determination, refund to the lessee or (where the lease has been transferred or assigned) to the transferee or assignee an amount equal to the difference between the stamp duty paid and the stamp duty that would have been payable if the lease had been expressed to expire at the date of determination.\n\n(2) Subclause (1) does not apply if the Commissioner is satisfied that, at any time after the determination of the lease, the lessee or an associate of the lessee has occupied the leased property, or substantially the same property, with the agreement (express or implied) of the lessor (other than as a result of the sale of the property to the lessee or associate).\n\n(3) An application for a refund under this clause must be accompanied by—\n\n(a) the lease or agreement for a lease on which stamp duty was paid; and\n\n(b) a declaration by the applicant stating that neither the lessee nor any associate of the lessee has occupied or will occupy the leased property, or substantially the same property, after the determination of the lease (other than as a result of the sale of the property to the lessee or associate).\n\n(4) A person must not knowingly make a false declaration under subclause (3)(b).\n\n1. 300 penalty units in the case of a body corporate;\n\n60 penalty units in any other case.\n\n***determination*** includes surrender and forfeiture.\n\n\t8 Provisions relating to Chapter 6 (Hire of goods)\n\n(1) The duty chargeable by Chapter 6 is charged on a hire of goods that is entered into on or after the commencement day.\n\n(2) A person who, immediately before the commencement day, is registered under section 131AB of the former Act is taken to be registered under Part 2 of Chapter 6.\n\n\t9 Provisions relating to Chapter 7 (Mortgages)\n\n(1) The duty charged by Chapter 7 is charged on—\n\n(a) a mortgage that is first executed on or after the commencement day; and\n\nSch. 2 cl. 9(1)(b) amended by No. 46/2001 s. 29(6)(a).\n\n(b) an advance or a further advance that is made on or after the commencement day on a mortgage first executed before the commencement day.\n\nSch. 2 cl. 9(2) amended by Nos 46/2001 s. 29(6)(b), 79/2001 s. 11(2)(a).\n\n(2) A mortgage duly stamped or not subject to duty under the former Act immediately before the commencement day is on that day taken to be duly stamped under this Act.\n\n(3) A mortgage that is not duly stamped under the former Act immediately before the commencement day is on that day taken to be chargeable with duty under Chapter 7.\n\nSch. 2 cl. 9(4) inserted by No. 46/2001 s. 29(7), amended by No. 79/2001 s. 11(2)(b).\n\n(4) Despite subclause (1)(b), a mortgage first executed before the commencement day that secures amounts liable or contingently liable under a bill facility referred to in section 150(1)(b) is chargeable with duty under Chapter 7 on or after that day on the amount by which the advances secured by it exceeds the amount secured or contingently secured by it on 30 June 2001.\n\nSch. 2 cl. 9(5) inserted by No. 46/2001 s. 29(7).\n\n(5) Despite subclause (3), if—\n\n(a) an advance was made under a mortgage before the commencement day, being a mortgage over property partly within and partly outside Victoria; and\n\n(b) the mortgage is not stamped before the commencement day—\n\nduty on the mortgage is to be determined in accordance with section 137DA of the former Act as in force immediately before the commencement day.\n\nSch. 2 cl. 9(6) inserted by No. 30/2002 s. 13.\n\n(6) Subclause (4) does not apply to the extent that duty has been paid under a corresponding Act on an amount to which that subclause would otherwise apply.\n\n\t10 Provisions relating to Chapter 8 (Insurance)\n\n(1) The duty charged by Chapter 8 is charged on—\n\n(a) the amount of a premium paid in relation to a contract that effects general insurance; or\n\n(b) a policy of life insurance—\n\nif the contract or policy is effected or renewed on or after the commencement day.\n\n(2) A person who, immediately before the commencement day, is registered under section 96 of the former Act is taken to be registered under Part 2 of Chapter 8.\n\n(3) A person who, immediately before the commencement day, is an approved insurer under section 111D of the former Act is taken to be registered under section 203.\n\nSch. 2 cl. 11 substituted by No. 30/2002 s. 14.\n\n\t11 Provisions relating to Chapter 9 (Motor vehicle duty)\n\nThe amendments made to Chapter 9 by sections 9 and 10 of the **State Taxation Legislation (Further Amendment) Act 2002** apply with respect to applications for registration or transfer of registration of motor vehicles made or lodged on or after 1 July 2002.\n\n\t12 Duty paid under the former Act\n\nIf an assessment or reassessment of duty under this Act is required to take into consideration another amount of duty paid, a reference in this Act to duty includes a reference to duty within the meaning of the former Act that has been paid in accordance with that Act.\n\n\t13 Stamping under the former Act\n\nAn instrument is duly stamped for the purposes of this Act if, immediately before the commencement day, it was duly stamped for the purposes of the former Act.\n\n\t14 Exemptions from duty under the former Act\n\nIf, by a provision of an Act other than the former Act, a transaction or instrument was not chargeable with duty under the former Act immediately before the commencement day, the transaction or instrument is not chargeable with duty under this Act, unless the contrary intention appears.\n\n\t15 Continuation of former Act and regulations\n\nIf a provision of the former Act continues to apply by force of this Schedule, the following provisions also continue to apply in relation to that provision—\n\n(a) any other provision of the former Act necessary to give effect to that continued provision; and\n\n(b) any regulation made under the former Act for the purposes of that continued provision.\n\nSch. 2 cl. 16 inserted by No. 46/2001 s. 30.\n\n\t16 Authorised persons\n\n(1) A person who, immediately before the commencement day, was an authorized person under section 40A of the former Act is taken to be an authorised person under section 264.\n\n(2) A condition to which the authorization of a person under section 40A was subject immediately before the commencement day is taken to be a condition specified on the person's authorisation by the Commissioner under section 264B.\n\nSch. 2 cl. 17 inserted by No. 30/2002 s. 15.\n\n\t17 State Taxation Legislation (Further Amendment) Act 2002\n\nA person is entitled to a refund of any amount paid as duty before the commencement of section 15 of the **State Taxation Legislation (Further Amendment) Act 2002** that was not payable under this Act as amended by sections 3(1) and (3), 4, 5, 7(2), 8(3) and 13 of that Act.\n\nSch. 2 cl. 18 inserted by No. 29/2002 s. 6.\n\n\t18 State Taxation Acts (Further Tax Reform) Act 2002\n\nSections 59, 60, 61, 62 and 63, as in force immediately before the commencement of section 4 of the **State Taxation Acts (Further Tax Reform) Act 2002**, continue to apply to a transfer that takes place on or after that commencement if the contract of sale giving rise to the transfer was entered into before that commencement.\n\nSch. 2 cl. 19 inserted by No. 58/2003 s. 18.\n\n\t19 State Taxation Acts (Miscellaneous Amendments) Act 2003\n\n(1) In ascertaining, for the purposes of the provisions of the former Act specified in subclause (2), the value of anything or the consideration or premium paid for anything, there is to be no discount for the amount of GST (if any) payable on the supply of that thing.\n\n(2) The provisions of the former Act to which subclause (1) applies are—\n\n(a) subdivision (6) of Division 3 of Part II and Heading VI in the Third Schedule (Conveyance of Real Property and Land Transfer);\n\n(b) subdivision (8) of Division 3 of Part II and Heading VIII in the Third Schedule (Lease or Agreement for a Lease);\n\n(c) subdivision (11) of Division 3 of Part II (Insurance and Assurance Business);\n\n(d) subdivision (16) of Division 3 of Part II and Heading XXI in the Third Schedule (Motor Vehicle and Heavy Trailer Registration).\n\n(3) This clause applies, and must be taken always to have applied, from and including 1 July 2000.\n\n(4) Nothing in this clause affects the rights of the parties in the Supreme Court proceeding known as *Royal & Sun Alliance Insurance Australia Ltd (ACN 007 746 092) v Commissioner of State Revenue (Vic)* (No. 4415 of 2002).\n\nSch. 2 cl. 20 inserted by No. 46/2004 s. 16.\n\n\t20 State Taxation Acts (Tax Reform) Act 2004\n\n(1) Sections 59 and 60, as amended by section 8 of the **State Taxation Acts (Tax Reform) Act 2004**, apply to a transfer to an eligible pensioner of dutiable property being an estate in fee simple in land if the contract of sale of the land was made on or after 1 May 2004.\n\n(2) Sections 59 and 60, as in force immediately before the commencement of section 8 of the **State Taxation Acts (Tax Reform) Act 2004**, continue to apply to a transfer to an eligible pensioner of dutiable property being an estate in fee simple in land after that commencement if the contract of sale of the land was made before 1 May 2004.\n\nSch. 2 cl. 20(3) inserted by No. 46/2004 s. 17.\n\n(3) An acquisition by a person before the commencement day of an interest in a unit trust scheme that was a public unit trust scheme within the meaning of this Act as in force immediately before the commencement day is an exempt acquisition.\n\nSch. 2 cl. 20(4) inserted by No. 46/2004 s. 17.\n\n(4) If—\n\n(a) a person who made an acquisition in a private unit trust scheme before the commencement day makes a relevant acquisition in the scheme on or after the commencement day; and\n\n(b) the aggregation of the relevant interests would entitle the person, in the event of the distribution of all the property of the scheme immediately after the later or latest acquisition was made, to 20% or more of the property distributed but less than 50% of that property—\n\nduty is chargeable under section 83 only in respect of the relevant acquisition that occurred on or after the commencement day.\n\nSch. 2 cl. 20(5) inserted by No. 46/2004 s. 17.\n\n(5) A reference in subclause (4) to a private unit trust scheme is a reference to a scheme that—\n\n(a) was a private unit trust scheme within the meaning of this Act as in force immediately before the commencement day; and\n\n(b) continues to be a private unit trust scheme within the meaning of this Act as in force on and after the commencement day.\n\nSch. 2 cl. 20(6) inserted by No. 46/2004 s. 17.\n\n(6) This Act, as in force immediately before the commencement day, continues to apply in respect of any transactions occurring on or after that day that resulted from a written agreement made before that day.\n\nSch. 2 cl. 20(7) inserted by No. 46/2004 s. 17.\n\n(7) Without limiting subclause (6)—\n\n(a) section 89C does not apply if the agreement or arrangement referred to in section 89C(1)(b) was made before the commencement day;\n\n(b) section 89E does not apply to or in relation to an acquisition referred to in that section—\n\n(i) made before the commencement day; or\n\n(ii) made in response to an offer or invitation made or arrangement entered into before that day.\n\nSch. 2 cl. 20(8) inserted by No. 46/2004 s. 17.\n\n(8) In this clause—\n\n***commencement day*** means the day on which section 12 of the **State Taxation Acts (Tax Reform) Act 2004** came into operation.\n\nSch. 2 cl. 21 inserted by No. 36/2005 s. 22.\n\n\t21 State Taxation Acts (General Amendment) Act 2005\n\n(1) Subject to subclause (2)—\n\n(a) Part 4A of Chapter 2 applies to a transfer resulting from a sale contract that was entered into, or an option that was granted, on or after the commencement day;\n\n(b) section 31, as in force immediately before the commencement day, continues to apply on and after that day to a transfer resulting from an agreement (within the meaning of that section) that was entered into before that day.\n\n(2) If each person who would be liable for duty under section 31 because of subclause (1)(b) in respect of a transfer of dutiable property notifies the Commissioner in writing, those persons may elect to have their liability for duty under this Act in respect of the transfer determined in accordance with Part 4A of Chapter 2 instead of section 31.\n\n(3) The Commissioner and each person who notifies the Commissioner under subclause (2) is bound by an election under that subclause.\n\n(4) Despite its repeal, section 49, as in force immediately before the commencement day, continues to apply on and after that day to a distribution of the assets of a company because of the reduction of the capital of the company if the resolution for the transactions affecting the capital (or a copy of it) was lodged with the Australian Securities and Investments Commission in compliance with Chapter 2J of the Corporations Act before the commencement day.\n\n(5) Despite its repeal, section 50, as in force immediately before the commencement day, continues to apply on and after that day to a distribution of the assets of a company because of the winding up of the company if—\n\n(a) in the case of a voluntary winding up—the resolution for the winding up was passed in compliance with Chapter 5 of the Corporations Act before the commencement day;\n\n(b) in the case of a winding up by the court—the order for the winding up was made before the commencement day.\n\n(6) Despite its repeal, section 234, as in force immediately before the commencement day, continues to apply on and after that day to a distribution of the assets of a company because of the winding up or the reduction of the capital of the company if—\n\n(a) in the case of a voluntary winding up—the resolution for the winding up was passed in compliance with Chapter 5 of the Corporations Act before the commencement day;\n\n(b) in the case of a winding up by the court—the order for the winding up was made before the commencement day;\n\n(c) in the case of a reduction of capital—the resolution for the transactions affecting the capital (or a copy of it) was lodged with the Australian Securities and Investments Commission in compliance with Chapter 2J of the Corporations Act before the commencement day.\n\n(7) In this clause—\n\n***commencement day*** means the day after the day on which the **State Taxation Acts (General Amendment) Act 2005** receives the Royal Assent.\n\nSch. 2 cl. 22 inserted by No. 85/2005 s. 16.\n\n\t22 Duties and Land Tax Acts (Amendment) Act 2005\n\n(1) This clause has effect for the purposes of the definition of ***listed trust*** in section 3(1) of this Act.\n\nSch. 2 cl. 22(2) amended by No. 28/2011 s. 29.\n\n(2) Despite the substitution of the definition by section 3(1)(b) of the **Duties and Land Tax Acts (Amendment) Act 2005**, a unit trust scheme that, immediately before the commencement of that section 3(1)(b), was a listed trust for the purposes of this Act continues, on and after that commencement, to be a listed trust for the purposes of this Act while all its units continue to be quoted on the ASX or any exchange of the World Federation of Exchanges.\n\nSch. 2 cl. 23 inserted by No. 38/2006 s. 6.\n\n\t23 State Taxation (Reductions and Concessions) Act 2006\n\n(1) Sections 59 and 60, as amended by section 3 of the **State Taxation (Reductions and Concessions) Act 2006**, apply to a transfer to an eligible pensioner of dutiable property being an estate in fee simple in land if the contract of sale of the land was entered into on or after 30 May 2006.\n\n(2) Sections 59 and 60, as in force immediately before the commencement day, continue to apply to a transfer to an eligible pensioner of dutiable property being an estate in fee simple in land if the contract of sale of the land was entered into before 30 May 2006.\n\n(3) If an eligible first home owner elects under section 63B to receive a concession under section 62 or 63 in respect of a contract for an eligible transaction entered into on or after 1 January 2006 and he or she has received an amount under section 18(2) of the **First Home Owner Grant Act 2000** in respect of the eligible transaction before the commencement day, that amount must be deducted from the amount of the concession.\n\n(4) In this clause, ***commencement day*** means the day after the day on which the **State Taxation (Reductions and Concessions) Act 2006** received the Royal Assent.\n\nSch. 2 cl. 24 inserted by No. 86/2006 s. 5.\n\n\t24 State Taxation Legislation Amendment (Housing Affordability) Act 2006\n\n(1) Sections 59 and 60, as amended by section 4 of the **State Taxation Legislation Amendment (Housing Affordability) Act 2006**, apply to a transfer to an eligible pensioner of dutiable property being an estate in fee simple in land if the contract of sale of the land was entered into on or after 1 January 2007.\n\n(2) Sections 59 and 60, as in force immediately before the commencement day, continue to apply to a transfer to an eligible pensioner of dutiable property being an estate in fee simple in land if the contract of sale of the land was entered into before 1 January 2007.\n\n(3) Sections 62 and 63, as amended by section 4 of the **State Taxation Legislation Amendment (Housing Affordability) Act 2006**, apply to a transfer to an eligible first home owner of dutiable property being an estate in fee simple in land if the contract of sale of the land was entered into on or after 1 January 2007.\n\n(4) Sections 62 and 63, as in force immediately before the commencement day, continue to apply to a transfer to an eligible first home owner of dutiable property being an estate in fee simple in land if the contract of sale of the land was entered into before 1 January 2007.\n\n(5) In this clause, ***commencement day***  means the day on which the **State Taxation Legislation Amendment (Housing Affordability) Act 2006**, received the Royal Assent.\n\nSch. 2 cl. 25 inserted by No. 22/2007 s. 5.\n\n\t25 State Taxation and Gambling Legislation Amendment (Budget Measures) Act 2007\n\n(1) Sections 218(1)(a) and 218(1)(ab), as substituted by section 4 of the **State Taxation and Gambling Legislation Amendment (Budget Measures) Act 2007**, apply to an application for registration or transfer of registration made on or after 1 May 2007.\n\n(2) A taxpayer is entitled to a refund of any duty paid on or after 1 May 2007 that is not payable because of subclause (1).\n\nSch. 2 cl. 26 inserted by No. 26/2007 s. 111.\n\n\t26 Payroll Tax Act 2007\n\n(1) Section 267(2), as amended by section 110(b) of the **Payroll Tax Act 2007**, applies to an overpayment made on or after 1 July 2004.\n\n(2) Section 267(2), as in force immediately before the commencement of section 110(b) of the **Payroll Tax Act 2007**, continues to apply to an overpayment made before 1 July 2004.\n\nSch. 2 cl. 27 inserted by No. 31/2008 s. 14.\n\n\t27 State Taxation Acts Amendment Act 2008\n\n(1) Section 21, as amended by section 3 of the **State Taxation Acts Amendment Act 2008**, and sections 21A to 21E, as inserted by section 4 of that Act, apply to the transfer of dutiable property if the contract of sale of the land is entered into on or after 1 October 2008.\n\n(2) Section 21, as in force immediately before the commencement of section 3 of the **State Taxation Acts Amendment Act 2008**, continues to apply to the transfer of dutiable property if the contract of sale of the land is entered into before 1 October 2008.\n\n(3) Subject to subclause (4), section 28(1), as amended by section 5 of the **State Taxation Acts Amendment Act 2008**, applies to a dutiable transaction occurring on or after 6 May 2008.\n\n(4) The rate of duty chargeable on a transfer of dutiable property on or after 6 May 2008 that is made as a result of an agreement entered into before that day is the rate set out in section 28 as in force immediately before the commencement of section 5 of the **State Taxation Acts Amendment Act 2008**.\n\n(5) Section 32V, as amended by section 6 of the **State Taxation Acts Amendment Act 2008**, applies to a relevant transaction (within the meaning of section 32V) if the date of the relevant transaction is on or after 1 October 2008.\n\n(6) Section 32V, as in force immediately before the commencement of section 6 of the **State Taxation Acts Amendment Act 2008**, continues to apply to a relevant transaction (within the meaning of section 32V) if the date of the relevant transaction is before 1 October 2008.\n\n(7) Section 38A applies to a declaration of trust or transfer of dutiable property that occurs on or after 6 May 2008.\n\n(8) Division 4A of Part 5 of Chapter 2, as amended by section 9 of the **State Taxation Acts Amendment Act 2008** applies to a PPR transfer of dutiable property being an estate in fee simple in land if the contract for purchase of the land was entered into on or after 6 May 2008.\n\n(9) Sections 59 and 60, as amended by section 10 of the **State Taxation Acts Amendment Act 2008**, apply to a transfer to an eligible pensioner of dutiable property being an estate in fee simple in land if the contract for sale of the land was entered into on or after 6 May 2008.\n\n(10) Sections 62 and 63, as amended by section 11 of the **State Taxation Acts Amendment Act 2008**, apply to a transfer to an eligible first home owner of dutiable property being an estate in fee simple in land if the contract for sale of the land was entered into on or after 6 May 2008.\n\n(11) A taxpayer is entitled to a refund of any duty paid on or after 6 May 2008 that is not payable because of subclause (3), (4), (7), (8), (9) or (10).\n\nSch. 2 cl. 28 inserted by No. 84/2008 s. 13.\n\n\t28 State Taxation Acts Further Amendment Act 2008\n\n(1) Part 4A of Chapter 2, as amended by Division 1 of Part 2 of the **State Taxation Acts Further Amendment Act 2008**, applies to a transfer resulting from a sale contract that was entered into, or an option that was granted, on or after the commencement of that Division 1.\n\n(2) Part 4A of Chapter 2, as in force immediately before the commencement of Division 1 of Part 2 of the **State Taxation Acts Further Amendment Act 2008**, continues to apply to a transfer resulting from a sale contract that was entered into, or an option that was granted, before that commencement.\n\n(3) Section 55, as amended by section 9 of the **State Taxation Acts Further Amendment Act 2008**, applies to a transaction taking place on or after 15 June 2005.\n\n(4) A taxpayer is entitled to a refund of any duty paid that is not payable because of subclause (3).\n\n(5) A person who, immediately before 1 January 2009, was an approved agent under section 94 of the **Livestock Disease Control Act 1994** is deemed on and after that day to be registered as an approved agent under section 248A.\n\n(6) The number assigned by the Commissioner under section 94 of the **Livestock Disease Control Act 1994** to a person who, immediately before 1 January 2009, was an approved agent under that section is deemed on and after that day to be the number assigned to the person for the purposes of section 248A.\n\nSch. 2 cl. 29 inserted by No. 28/2011 s. 18.\n\n\t29 State Taxation Acts Amendment Act 2011—section 63B\n\nAnything done or omitted to be done under this Act or the **First Home Owner Grant Act 2000** in respect of a dutiable transaction occurring on or after 1 July 2010 and before the commencement of section 18 of the **State Taxation Acts Amendment Act 2011**,  that would have been validly done or omitted to be done had section 63B as amended by section 17 of the **State Taxation Acts Amendment Act 2011** been in force at that time, is taken to have been validly done or omitted.\n\nSch. 2 cl. 30 inserted by No. 28/2011 s. 16.\n\n\t30 State Taxation Acts Amendment Act 2011—Division 5 of Part 5 of Chapter 2\n\n(1) Division 5 of Part 5 of Chapter 2, as amended by Division 2 of Part 2 of the **State Taxation Acts Amendment Act 2011**, applies to a transfer to an eligible pensioner, within the meaning of that Division as in force immediately after 1 July 2011, of dutiable property being an estate in fee simple in land if the contract of sale of the land was entered into on or after 1 July 2011.\n\n(2) Division 5 of Part 5 of Chapter 2, as in force immediately before 1 July 2011, continues to apply to a transfer to an eligible pensioner, within the meaning of that Division as in force immediately before 1 July 2011,  of dutiable property being an estate in fee simple in land if the contract of sale of the land was entered into on or before 30 June 2011.\n\n(3) A taxpayer is entitled to a refund of any duty paid on or after 1 July 2011 that is not payable because of subclause (1) or (2).\n\nSch. 2 cl. 31 inserted by No. 38/2012 s. 12.\n\n","sortOrder":437},{"sectionNumber":"31","sectionType":"section","heading":"Duties Amendment (Landholder) Act 2012","content":"\t31 Duties Amendment (Landholder) Act 2012\n\n(1) This clause applies despite anything to the contrary in this Act.\n\n(2) An acquisition by a person before 1 July 2009 of an interest in a private unit trust scheme, private company, wholesale unit trust scheme or public unit trust scheme must not be aggregated under section 78(1)(a)(ii) with an acquisition by the person, an associated person or any person in an associated transaction on or after 1 July 2012 of an interest in the scheme or company.\n\n(3) An acquisition by a person before 1 July 2012 of an interest in a listed company must not be aggregated under section 78(1)(a)(ii) with an acquisition by the person, an associated person or any person in an associated transaction on or after 1 July 2012 of an interest in the company.\n\n(4) An acquisition by a person before 1 July 2012 of an economic entitlement must not be aggregated under section 81 with an acquisition by the person or an associated person on or after 1 July 2012 of an economic entitlement.\n\n(5) Duty is not chargeable under section 86 in respect of an interest acquired by a person in a private unit trust scheme, private company or wholesale unit trust scheme on or after 1 July 2009 and before 1 July 2012 if the scheme or company was not a land rich landholder within the meaning of section 71(2) as in force at the time the interest was acquired.\n\n(6) A unit trust scheme that, immediately before the commencement day, was registered as a wholesale unit trust scheme under Division 7 of Part 2 of Chapter 3, as in force at that time, is taken to be registered under Division 6 of Part 2 of Chapter 3 for the period ending on the date that registration of the unit trust scheme would have expired under section 89Q(2), as in force immediately before the commencement day.\n\n(7) A public unit trust scheme that, immediately before the commencement day, was registered as a registered declared public unit trust scheme under section 89N, as in force at that time, is taken to be registered under section 89R for the period ending on the date that registration of the unit trust scheme would have expired under section 89Q(2), as in force immediately before the commencement day.\n\nSch. 2 cl. 31(7A) inserted by No. 41/2013 s. 27.\n\n(7A) An acquisition by a person before 1 July 2009 of an interest in a private unit trust scheme, private company, wholesale unit trust scheme or public unit trust scheme that was not land rich under this Act as in force on the date of that acquisition is not to be taken into account in determining whether an acquisition on or after 1 July 2012 of an interest in the scheme or company is a relevant acquisition of a further interest under section 78(1)(b).\n\n(8) In this clause, ***commencement day*** means the day on which section 12 of the **Duties Amendment (Landholder) Act 2012** comes into operation.\n\nSch. 2 cl. 32 inserted by No. 40/2014 s. 9.\n\n\t32 Building a Better Victoria (State Tax and Other Legislation Amendment) Act 2014\n\nA person who, immediately before 1 July 2014, was registered as a general insurer or a life insurer under Chapter 8 (as in force immediately before that day) is taken, on and after that day, to be registered as an insurer under Part 2 of Chapter 8 (as in force on and after that day).\n\nSch. 2 cl. 33 inserted by No. 26/2015 s. 24.\n\n\t33 State Taxation Acts Amendment Act 2015\n\n(1) Chapter 2, as in force immediately before 1 July 2015, applies in respect of any dutiable transaction entered into before that day under which a land-related interest in residential property is transferred to a foreign purchaser.\n\n(2) Chapter 3, as in force immediately before 1 July 2015, applies in respect of any relevant acquisition of an interest in a landholder that holds a land-related interest in residential property if the agreement or arrangement for the relevant acquisition was entered into by a foreign purchaser before that day.\n\nSch. 2 cl. 34 inserted by No. 40/2016 s. 9.\n\n\t34 State Taxation and Other Acts Amendment Act 2016—residential property and rate for foreign purchaser duty\n\nChapters 1 and 2, as in force immediately before 1 July 2016, apply in respect of any dutiable transaction entered into on or after 1 July 2015 but before 1 July 2016 under which a land-related interest in residential property is transferred to a foreign purchaser.\n\nSch. 2 cl. 35 inserted by No. 40/2016 s. 9.\n\n\t35 State Taxation and Other Acts Amendment Act 2016—residential property for the purposes of Chapter 3\n\nThe definition of ***residential property*** set out in section 3(1), as in force immediately before 1 July 2016, applies in respect of any acquisition of an interest in a landholder that holds a land‑related interest in residential property if the agreement or arrangement for the acquisition was entered into by a foreign purchaser on or after 1 July2015 but before 1 July 2016.\n\nSch. 2 cl. 36 inserted by No. 40/2016 s. 9.\n\n\t36 State Taxation and Other Acts Amendment Act 2016—2015-2016 agreements and arrangements for significant interest foreign purchaser acquisitions\n\n(a) a foreign purchaser entered into an agreement or arrangement on or after 1 July 2015 but before 1 July 2016 for the acquisition of an interest in a landholder that holds a land-related interest in residential property; and\n\n(b) the acquisition, when made, is an acquisition of an interest referred to in section 78(1)(a)(i).\n\n(2) Despite anything in this Act, if any duty is chargeable under Part 2 of Chapter 3 and is required to be calculated in accordance with section 86(1), that duty must be calculated in accordance with that subsection but using the rate specified under this Act that would have applied if the acquisition of the interest was made on the day the agreement or arrangement was entered into by the foreign purchaser.\n\nSch. 2 cl. 37 inserted by No. 40/2016 s. 9.\n\n\t37 State Taxation and Other Acts Amendment Act 2016—2015-2016 agreements and arrangements for aggregated significant interest foreign purchaser acquisitions\n\n(a) a foreign purchaser entered into an agreement or arrangement on or after 1 July 2015 but before 1 July 2016 for the acquisition of an interest in a landholder that holds a land-related interest in residential property; and\n\n(b) the acquisition, when made, is an acquisition of an interest referred to in section 78(1)(a)(ii), or after it is made, becomes an interest of that kind.\n\n(2) Despite anything in this Act, if any duty is chargeable under Part 2 of Chapter 3 and is required to be calculated in accordance with section 86(3), that duty must be calculated in accordance with that subsection but using the rate specified under this Act that would have applied if the acquisition of the interest was made on the day the agreement or arrangement was entered into by the foreign purchaser.\n\nSch. 2 cl. 38 inserted by No. 40/2016 s. 9.\n\n\t38 State Taxation and Other Acts Amendment Act 2016—2015-2016 agreements and arrangements for foreign purchaser acquisitions of further interests\n\n(a) a foreign purchaser entered into an agreement or arrangement on or after 1 July 2015 but before 1 July 2016 for the acquisition of an interest in a landholder that holds a land-related interest in residential property; and\n\n(b) the acquisition, when made, is an acquisition of a further interest in the landholder referred to in section 78(1)(b).\n\n(2) Despite anything in this Act, if any duty is chargeable under Part 2 of Chapter 3 and is required to be calculated in accordance with section 86(4), that duty must be calculated in accordance with that subsection but using the rate specified under this Act that would have applied if the acquisition was made on the day the agreement or arrangement was entered into by the foreign purchaser.\n\nSch. 2 cl. 39 inserted by No. 40/2016 s. 9.\n\n\t39 State Taxation and Other Acts Amendment Act 2016—pre-2015 agreements and arrangements for foreign purchaser acquisitions\n\n(a) a foreign purchaser entered into an agreement or arrangement before 1 July 2015 for the acquisition of an interest in a landholder that holds a land-related interest in residential property; and\n\n(b) the acquisition, when made, is an acquisition of an interest referred to in section 78(1), or after it is made, becomes an interest of that kind.\n\n(2) Despite anything in this Act, in calculating any duty chargeable on the acquisition section 28A is to be disregarded.\n\nSch. 2 cl. 40 inserted by No. 28/2017 s. 44.\n\n\t40 State Taxation Acts Amendment Act 2017—financial exchanges\n\nA reference to an exchange of the World Federation of Exchanges in the definitions of ***listed company*** and ***listed trust*** in section 3(1) is taken to have always included a reference to the LSE and the NYSE before the commencement of Division 6 of Part 2 of the **State Taxation Acts Amendment Act 2017**.\n\nSch. 2 cl. 41 inserted by No. 28/2017 s. 47.\n\n\t41 State Taxation Acts Amendment Act 2017—Off-the-plan purchases and principal place of residence\n\nDespite clause 27, sections 21, 32B(6), 32V, 57I(1), 57J, 57JA, 57K(1), 57L(2), 57M(1) and (4), 57N(1) and 60A, as in force immediately before the commencement of Division 1 of Part 2 of the **State Taxation Acts Amendment Act 2017**, continue to apply in respect of any dutiable transaction that occurs under a contract of sale entered into before 1 July 2017.\n\nSch. 2 cl. 42 inserted by No. 28/2017 s. 47.\n\n\t42 State Taxation Acts Amendment Act 2017—Sub‑sale transactions\n\nDivision 3A of Part 4A of Chapter 2 does not apply to a transfer of dutiable property resulting from an option that was granted before the commencement of section 30 of the **State Taxation Acts Amendment Act 2017**.\n\nSch. 2 cl. 43 inserted by No. 22/2018 s. 19.\n\n\t43 State Taxation Acts Amendment Act 2018—conversion of private unit trust schemes and private companies\n\n(1) Section 89B, as in force immediately before the commencement of section 7 of the **State Taxation Acts Amendment Act 2018**, applies if, under an agreement or arrangement entered into before that commencement, a landholder that is a private unit trust scheme becomes, through whatever means, a public unit trust scheme after that commencement.\n\n(2) Section 89C, as in force immediately before the commencement of section 8 of the **State Taxation Acts Amendment Act 2018**, applies if, under an agreement or arrangement entered into before that commencement, a landholder that is a private company becomes, through whatever means, a listed company after that commencement.\n\nSch. 2 cl. 44 inserted by No. 22/2018 s. 19.\n\n\t44 State Taxation Acts Amendment Act 2018—controlling interests and substantial interests\n\n(1) Section 3A, as in force immediately before the commencement of section 3 of the **State Taxation Acts Amendment Act 2018**, applies in respect of the following—\n\n(a) a dutiable transaction that occurs on or after that commencement that transfers a land-related interest in residential property under an agreement or arrangement entered into before that commencement;\n\n(b) an acquisition of an interest in a landholder that holds a land-related interest in residential property under an agreement or arrangement entered into before that commencement.\n\n(2) Section 3B, as in force immediately before the commencement of section 4 of the **State Taxation Acts Amendment Act 2018**, applies in respect of the following—\n\n(a) a dutiable transaction that occurs on or after that commencement that transfers a land-related interest in residential property under an agreement or arrangement entered into before that commencement;\n\n(b) an acquisition of an interest in a landholder that holds a land-related interest in residential property under an agreement or arrangement entered into before that commencement.\n\nSch. 2 cl. 45 inserted by No. 17/2019 s. 34.\n\n\t45 State Taxation Acts Amendment Act 2019—public unit trust schemes\n\nSection 89B does not apply to a wholesale unit trust scheme that becomes a public unit trust scheme if the wholesale unit trust scheme would not have become a public unit trust scheme had the amendments made by Division 1 of Part 2 of the **State Taxation Acts Amendment Act 2019** not come into operation.\n\nSch. 2 cl. 46 inserted by No. 17/2019 s. 34.\n\n\t46 State Taxation Acts Amendment Act 2019—fixtures\n\nThe amendments made by Division 2 of Part 2 of the **State Taxation Acts Amendment Act 2019** do not apply to a dutiable transaction that occurs on or after the commencement of that Division under an arrangement made before that commencement.\n\nSch. 2 cl. 47 inserted by No. 17/2019 s. 34.\n\n\t47 State Taxation Acts Amendment Act 2019—economic entitlements\n\nThe amendments made by Division 3 of Part 2 of the **State Taxation Acts Amendment Act 2019** do not apply in relation to an arrangement made before the commencement of that Division.\n\nSch. 2 cl. 48 inserted by No. 17/2019 s. 34.\n\n\t48 State Taxation Acts Amendment Act 2019—rate for foreign purchaser duty\n\nSection 28A, as in force immediately before 1 July 2019, continues to apply in respect of any dutiable transaction entered into on or after 1 July 2016 but before 1 July 2019 under which a land-related interest in residential property is transferred to a foreign purchaser.\n\nSch. 2 cl. 49 inserted by No. 17/2019 s. 34.\n\n\t49 State Taxation Acts Amendment Act 2019—agreements and arrangements for significant interest foreign purchaser acquisitions\n\n(a) a foreign purchaser entered into an agreement or arrangement on or after 1 July 2016 but before 1 July 2019 for the acquisition of an interest in a landholder that holds a land-related interest in residential property; and\n\n(b) the acquisition, when made, is an acquisition of an interest referred to in section 78(1)(a)(i).\n\n(2) Despite anything in this Act, if any duty is chargeable under Part 2 of Chapter 3 and is required to be calculated in accordance with section 86(1), that duty must be calculated in accordance with that subsection but using the rate specified under this Act that would have applied if the acquisition of the interest was made on the day the agreement or arrangement was entered into by the foreign purchaser.\n\nSch. 2 cl. 50 inserted by No. 17/2019 s. 34.\n\n\t50 State Taxation Acts Amendment Act 2019—agreements and arrangements for aggregated significant interest foreign purchaser acquisitions\n\n(a) a foreign purchaser entered into an agreement or arrangement on or after 1 July 2016 but before 1 July 2019 for the acquisition of an interest in a landholder that holds a land-related interest in residential property; and\n\n(b) the acquisition, when made, is an acquisition of an interest referred to in section 78(1)(a)(ii), or after it is made, becomes an interest of that kind.\n\n(2) Despite anything in this Act, if any duty is chargeable under Part 2 of Chapter 3 and is required to be calculated in accordance with section 86(3), that duty must be calculated in accordance with that subsection but using the rate specified under this Act that would have applied if the acquisition of the interest was made on the day the agreement or arrangement was entered into by the foreign purchaser.\n\nSch. 2 cl. 51 inserted by No. 17/2019 s. 34.\n\n\t51 State Taxation Acts Amendment Act 2019—agreements and arrangements for foreign purchaser acquisitions of further interests\n\n(a) a foreign purchaser entered into an agreement or arrangement on or after 1 July 2016 but before 1 July 2019 for the acquisition of an interest in a landholder that holds a land-related interest in residential property; and\n\n(b) the acquisition, when made, is an acquisition of a further interest in the landholder referred to in section 78(1)(b).\n\n(2) Despite anything in this Act, if any duty is chargeable under Part 2 of Chapter 3 and is required to be calculated in accordance with section 86(4), that duty must be calculated in accordance with that subsection but using the rate specified under this Act that would have applied if the acquisition was made on the day the agreement or acquisition was entered into by the foreign purchaser.\n\nSch. 2 cl. 52 inserted by No. 17/2019 s. 34.\n\n\t52 State Taxation Acts Amendment Act 2019—corporate reconstructions\n\n(1) The old provisions apply in respect of an eligible transaction (within the meaning of section 250A as in force immediately before 1 July 2019) if the agreement or arrangement for the eligible transaction was entered into before 1 July 2019.\n\n(a) on application, grant an exemption under the old provisions in respect of an eligible transaction the agreement or arrangement for which was entered into before 1 July 2019; and\n\n(b) revoke or deal with the exemption under the old provisions as if they had not been amended by the **State Taxation Acts Amendment Act 2019**.\n\n(3) Despite the **State Taxation Acts Amendment Act 2019**, an exemption granted by the Commissioner under the old provisions that is in effect immediately before 1 July 2019—\n\n***old provisions*** means Division 1 of Part 2 of Chapter 11 as in force immediately before 1 July 2019.\n\nSch. 2 cl. 53 inserted by No. 17/2019 s. 34.\n\n\t53 State Taxation Acts Amendment Act 2019—corporate consolidations\n\n(1) The old provisions apply in respect of an eligible transaction (within the meaning of section 250DC as in force immediately before 1 July 2019) if the agreement or arrangement for the eligible transaction was entered into before 1 July 2019.\n\n(a) on application, grant an exemption under the old provisions in respect of an eligible transaction the agreement or arrangement for which was entered into before 1 July 2019; and\n\n(b) revoke or deal with the exemption under the old provisions as if they had not been amended by the **State Taxation Acts Amendment Act 2019**.\n\n(3) Despite the **State Taxation Acts Amendment Act 2019**, an exemption granted by the Commissioner under the old provisions that is in effect immediately before 1 July 2019—\n\n***old provisions*** means Division 1A of Part 2 of Chapter 11 as in force immediately before 1 July 2019.\n\nSch. 2 cl. 54 inserted by No. 17/2019 s. 34.\n\n\t54 State Taxation Acts Amendment Act 2019—exchange of stapled ownership interests for ownership interests in a unit trust scheme\n\n(1) The old provisions apply in respect of a relevant acquisition to which section 83 applies made in the course of, or as a result of, a roll-over (within the meaning of section 250DH) if the agreement or arrangement for the relevant acquisition was entered into before 1 July 2019.\n\n(a) on application, grant an exemption under the old provisions in respect of a relevant acquisition to which section 83 applies made in the course of, or as a result of, a roll-over (within the meaning of section 250DH) the agreement or arrangement for which was entered into before 1 July 2019; and\n\n(b) revoke or deal with the exemption under the old provisions as if they had not been amended by the **State Taxation Acts Amendment Act 2019**.\n\n(3) Despite the **State Taxation Acts Amendment Act 2019**, an exemption granted by the Commissioner under the old provisions that is in effect immediately before 1 July 2019—\n\n***old provisions*** means Division 1B of Part 2 of Chapter 11 as in force immediately before 1 July 2019.\n\nSch. 2 cl. 55 inserted by No. 17/2019 s. 34.\n\n\t55 State Taxation Acts Amendment Act 2019—penalties and interest under Division 2 of Part 2 of Chapter 11\n\nDespite the repeal of Division 2 of Part 2 of Chapter 11 by the **State Taxation Acts Amendment Act 2019**, that Division as in force immediately before 1 July 2019 continues to apply in relation to any exemption that is revoked—\n\n(a) under Division 1, 1A or 1B of Part 2 of Chapter 11 as in force immediately before 1 July 2019; or\n\n(b) under Division 1, 1A or 1B of Part 2 of Chapter 11 as continued under clauses 52, 53 or 54.\n\nSch. 2 cl. 56 inserted by No. 46/2019 s. 6.\n\n\t56 State Taxation Acts Further Amendment Act 2019—young farmers\n\n(1) Division 7 of Part 5 of Chapter 2, as in force immediately before the commencement day, continues to apply in respect of a transfer of dutiable property on or after that day if the contract for the transfer was entered into before that day.\n\n(2) In this clause—\n\n***commencement day*** means the day on which Division 1 of Part 2 of the **State Taxation Acts Further Amendment Act 2019** comes into operation.\n\nSch. 2 cl. 57 inserted by No. 46/2019 s. 8.\n\n\t57 State Taxation Acts Further Amendment Act 2019—insurance duty\n\nChapter 8 must be taken to have applied at all times on and after 1 July 2014 as if the amendments made to that Chapter by section 7 of the **State Taxation Acts Further Amendment Act 2019** had come into operation on that day.\n\n1 July 2014 is the date on which the amendments to Chapter 8 made by the **Building a Better Victoria (State Tax and Other Legislation Amendment) Act 2014** came into operation.\n\nSch. 2 cl. 58 inserted by No. 22/2021 s. 10.\n\n\t58 State Taxation and Mental Health Acts Amendment Act 2021—general rate of duty\n\nSection 28(1), as in force immediately before the commencement of section 6 of the **State Taxation and Mental Health Acts Amendment Act 2021**, continues to apply in respect of a dutiable transaction or an acquisition of an interest in a landholder that occurs on or after that commencement under an agreement or arrangement entered into before that commencement.\n\nSch. 2 cl. 59 inserted by No. 18/2023 s. 19.\n\n\t59 State Taxation Acts Amendment Act 2023—Division 5 of Part 5 of Chapter 2\n\n(1) Division 5 of Part 5 of Chapter 2 and section 57FC(4), as in force immediately before 1 July 2023, continue to apply to a transfer to an eligible pensioner, within the meaning of that Division as in force immediately before 1 July 2023, of dutiable property, being an estate in fee simple in land, if the contract of sale of the land was entered into before 1 July 2023.\n\n(2) A taxpayer is entitled to a refund of any duty paid on or after 1 July 2023 that is not payable because of subclause (1).\n\nSch. 2 cl. 60 inserted by No. 50/2024 s. 33.\n\n\t60 State Taxation Further Amendment Act 2024—friendly societies\n\n(1) No duty is chargeable under Chapter 2 in respect of a transfer of dutiable property to a friendly society if the contract or other arrangement giving effect to the transfer is entered into before the commencement of section 16 of the **State Taxation Further Amendment Act 2024**.\n\n(2) No duty is chargeable under Chapter 2 in respect of a declaration of trust over dutiable property to be held on trust for a friendly society if the declaration is made before the commencement of section 16 of the **State Taxation Further Amendment Act 2024**.\n\nSch. 2 cl. 61 inserted by No. 48/2025 s. 26.\n\n\t61 State Taxation Further Amendment Act 2025\n\n(1) Section 3, as amended by Part 4 of the **State Taxation Further Amendment Act 2025**, applies, and is taken always to have applied, from 1 July 2024.\n\n(2) Section 3AA, as inserted by Part 4 of the **State Taxation Further Amendment Act 2025**, applies, and is taken always to have applied, from 1 July 2024.\n\nEndnotes\n\n1 General information\n\nSee [www.legislation.vic.gov.au](http://www.legislation.vic.gov.au) for Victorian Bills, Acts and current Versions of legislation and up-to-date legislative information.\n\n*Minister's second reading speech—*\n\n*Legislative Assembly: 5 October 2000*\n\n*Legislative Council: 1 November 2000*\n\nThe long title for the Bill for this Act was \"to create and charge a number of duties, to repeal the **Stamps Act 1958**, to make consequential amendments to other Acts and for other purposes.\"\n\nThe **Duties Act 2000** was assented to on 28 November 2000 and came into operation on 1 July 2001: section 2.\n\nINTERPRETATION OF LEGISLATION ACT 1984 (ILA)\n\nStyle changes\n\nSection 54A of the ILA authorises the making of the style changes set out in Schedule 1 to that Act.\n\nReferences to ILA s. 39B\n\nSidenotes which cite ILA s. 39B refer to section 39B of the ILA which provides that where an undivided section or clause of a Schedule is amended by the insertion of one or more subsections or subclauses, the original section or clause becomes subsection or subclause (1) and is amended by the insertion of the expression \"(1)\" at the beginning of the original section or clause.\n\nInterpretation\n\nAs from 1 January 2001, amendments to section 36 of the ILA have the following effects:\n\n• Headings\n\nAll headings included in an Act which is passed on or after 1 January 2001 form part of that Act. Any heading inserted in an Act which was passed before 1 January 2001, by an Act passed on or after 1 January 2001, forms part of that Act. This includes headings to Parts, Divisions or Subdivisions in a Schedule; sections; clauses; items; tables; columns; examples; diagrams; notes or forms. See section 36(1A)(2A).\n\n• Examples, diagrams or notes\n\nAll examples, diagrams or notes included in an Act which is passed on or after 1 January 2001 form part of that Act. Any examples, diagrams or notes inserted in an Act which was passed before 1 January 2001, by an Act passed on or after 1 January 2001, form part of that Act. See section 36(3A).\n\n• Punctuation\n\nAll punctuation included in an Act which is passed on or after 1 January 2001 forms part of that Act. Any punctuation inserted in an Act which was passed before 1 January 2001, by an Act passed on or after 1 January 2001, forms part of that Act. See section 36(3B).\n\n• Provision numbers\n\nAll provision numbers included in an Act form part of that Act, whether inserted in the Act before, on or after 1 January 2001. Provision numbers include section numbers, subsection numbers, paragraphs and subparagraphs. See section 36(3C).\n\n• Location of \"legislative items\"\n\nA \"legislative item\" is a penalty, an example or a note. As from 13 October 2004, a legislative item relating to a provision of an Act is taken to be at the foot of that provision even if it is preceded or followed by another legislative item that relates to that provision. For example, if a penalty at the foot of a provision is followed by a note, both of these legislative items will be regarded as being at the foot of that provision. See section 36B.\n\n• Other material\n\nAny explanatory memorandum, table of provisions, endnotes, index and other material printed after the Endnotes does not form part of an Act.  \nSee section 36(3)(3D)(3E).\n\n2 Table of Amendments\n\nThis publication incorporates amendments made to the **Duties Act 2000** by Acts and subordinate instruments.\n\n–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––\n\n**Statute Law Amendment (Relationships) Act 2001, No. 27/2001**\n\n| Assent Date: | 12.6.01 |\n| Commencement Date: | S. 3(Sch. 1 item 2) on 23.8.01: Government Gazette 23.8.01 p. 1927 |\n\n**Corporations (Consequential Amendments) Act 2001, No. 44/2001**\n\n| Commencement Date: | S. 3(Sch. item 32) on 15.7.01: s. 2 |\n\n**Duties (Amendment) Act 2001, No. 46/2001**\n\n| Commencement Date: | Ss 3–31 on 1.7.01: s. 2(2) |\n\n**State Taxation Acts (Taxation Reform Implementation) Act 2001, No. 48/2001** (as amended by No. 29/2002)\n\n| Commencement Date: | Ss 5–6(3), 7, 8 on 1.7.01: s. 2(3); s. 6(4) on 1.7.02: s. 2(4) |\n\n**State Taxation Legislation (Amendment) Act 2001, No. 79/2001**\n\n| Assent Date: | 27.11.01 |\n| Commencement Date: | Ss 3–11 on 28.11.01: s. 2 |\n\n**Corporations (Financial Services Reform Amendments) Act 2002, No. 9/2002**\n\n| Assent Date: | 23.4.02 |\n| Commencement Date: | S. 3(Sch. item 4) on 23.4.02: s. 2 |\n\n**Statute Law (Further Revision) Act 2002, No. 11/2002**\n\n| Assent Date: | 23.4.02 |\n| Commencement Date: | S. 3(Sch. 1 item 17) on 24.4.02: s. 2(1) |\n\n**State Taxation Acts (Further Tax Reform) Act 2002, No. 29/2002**\n\n| Assent Date: | 12.6.02 |\n| Commencement Date: | Ss 3, 5, 6 on 13.6.02: s. 2(1); s. 4 on 1.7.02: s. 2(2) |\n\n**State Taxation Legislation (Further Amendment) Act 2002, No. 30/2002**\n\n| Assent Date: | 12.6.02 |\n| Commencement Date: | Ss 3(1)(3), 4, 5, 7(2), 8(3), 13 on 1.7.01: s. 2(2); ss 6, 7(1), 8(1)(2), 15 on 13.6.02: s. 2(1); ss 3(2), 9–12, 14 on 1.7.02: s. 2(4) |\n\n**State Taxation Acts (Miscellaneous Amendments) Act 2003, No. 58/2003**\n\n| Assent Date: | 16.6.03 |\n| Commencement Date: | Ss 6, 13(2), 14, 17 on 1.7.01: s. 2(2); s. 4 on 8.2.03: s. 2(3); ss 3, 5, 7–12, 13(1), 15, 18 on 17.6.03: s. 2(1); s. 16 on 1.7.03: s. 2(5) |\n\n**State Taxation Acts (Further Miscellaneous Amendments) Act 2003, No. 113/2003**\n\n| Assent Date: | 9.12.03 |\n| Commencement Date: | S. 3 on 16.8.03: s. 2(3); ss 4–6 on 1.1.04: s. 2(2) |\n\n**State Taxation Acts (Tax Reform) Act 2004, No. 46/2004**\n\n| Assent Date: | 16.6.04 |\n| Commencement Date: | Ss 8–10, 16 on 1.5.04: s. 2(2); ss 3, 12, 17 on 13.5.04: s. 2(3); ss 4–7, 11, 13–15 on 17.6.04: s. 2(1) |\n\n**State Taxation Acts (Amendment) Act 2004, No. 71/2004**\n\n| Assent Date: | 19.10.04 |\n| Commencement Date: | Ss 4–28 on 20.10.04: s. 2(1) |\n\n**State Concessions Act 2004, No. 82/2004**\n\n| Assent Date: | 16.11.04 |\n| Commencement Date: | S. 13(Sch. item 2) on 1.3.05: s. 2(2) |\n\n**State Taxation Acts (General Amendment) Act 2005, No. 36/2005**\n\n| Assent Date: | 28.6.05 |\n| Commencement Date: | S. 13(1) on 13.5.04: s. 2(3); ss 19–21 on 31.3.05: s. 2(6); ss 6–11, 13(2)–18, 22 on 29.6.05: s. 2(1); s. 12 on 1.7.05: s. 2(7) |\n\n**Duties and Land Tax Acts (Amendment) Act 2005, No. 85/2005**\n\n| Assent Date: | 29.11.05 |\n| Commencement Date: | S. 4 on 15.6.05: s. 2(2); ss 3, 5–17 on 30.11.05: s. 2(1) |\n\n**Land Tax Act 2005, No. 88/2005**\n\n| Assent Date: | 29.11.05 |\n| Commencement Date: | S. 117(Sch. 2 item 1) on 1.1.06: s. 2 |\n\n**State Taxation (Reductions and Concessions) Act 2006, No. 38/2006**\n\n| Assent Date: | 20.6.06 |\n| Commencement Date: | Ss 3–6 on 21.6.06: s. 2 |\n\n**State Taxation Legislation (Miscellaneous Amendments) Act 2006, No. 84/2006**\n\n| Assent Date: | 10.10.06 |\n| Commencement Date: | S. 6 on 1.7.06: s. 2(3); ss 3–5, 7 on 11.10.06: s. 2(1) |\n\n**State Taxation Legislation Amendment (Housing Affordability) Act 2006, No. 86/2006**\n\n| Assent Date: | 22.12.06 |\n| Commencement Date: | Ss 3–5 on 22.12.06: s. 2 |\n\n**State Taxation and Gambling Legislation Amendment (Budget Measures) Act 2007, No. 22/2007**\n\n| Assent Date: | 12.6.07 |\n| Commencement Date: | S. 4 on 1.5.07: s. 2(2); s. 5 on 13.6.07: s. 2(1) |\n\n**Payroll Tax Act 2007, No. 26/2007**\n\n| Assent Date: | 26.6.07 |\n| Commencement Date: | Ss 110, 111 on 1.7.07: s. 2(1) |\n\n**Statute Law Revision Act 2007, No. 28/2007**\n\n| Assent Date: | 26.6.07 |\n| Commencement Date: | S. 3(Sch. item 18) on 27.6.07: s. 2(1) |\n\n**State Taxation Acts Amendment Act 2007, No. 33/2007**\n\n| Assent Date: | 24.7.07 |\n| Commencement Date: | Ss 3–8 on 25.7.07: s. 2 |\n\n**Relationships Act 2008, No. 12/2008**\n\n| Assent Date: | 15.4.08 |\n| Commencement Date: | S. 73(1)(Sch. 1 item 17) on 1.12.08: s. 2(2) |\n\n**State Taxation Acts Amendment Act 2008, No. 31/2008**\n\n| Assent Date: | 17.6.08 |\n| Commencement Date: | Ss 5, 8–11 on 6.5.08: s. 2(2); ss 3, 4, 6, 7, 14 on 18.6.08: s. 2(1); ss 12, 13 on 1.7.08: s. 2(3) |\n\n**Health Services Legislation Amendment Act 2008, No. 79/2008**\n\n| Assent Date: | 11.12.08 |\n| Commencement Date: | S. 16 on 31.3.09: Government Gazette 19.2.09 p. 328 |\n\n**State Taxation Acts Further Amendment Act 2008, No. 84/2008**\n\n| Assent Date: | 11.12.08 |\n| Commencement Date: | Ss 3–9, 13 on 12.12.08: s. 2(1); ss 10, 11(1)(2), 12 on 1.1.09: s. 2(3); s. 11(3) on 1.7.10: Government Gazette 17.6.10 p. 1221 |\n\n**Relationships Amendment (Caring Relationships) Act 2009, No. 4/2009**\n\n| Assent Date: | 10.2.09 |\n| Commencement Date: | S. 37(Sch. 1 item 10) on 1.12.09: s. 2(2) |\n\n**State Taxation Acts Amendment Act 2009, No. 37/2009**\n\n| Assent Date: | 30.6.09 |\n| Commencement Date: | Ss 3–7, 10, 11 on 1.7.09: s. 2(1); ss 8, 9 on 1.7.09: s. 2(2) |\n\n**Duties Amendment Act 2009, No. 39/2009**\n\n| Assent Date: | 7.7.09 |\n| Commencement Date: | Ss 3–15 on 21.11.08: reg. 2(2) |\n\n**Statute Law Amendment (Evidence Consequential Provisions) Act 2009, No. 69/2009**\n\n| Assent Date: | 24.11.09 |\n| Commencement Date: | S. 54(Sch. Pt 1 item 17) on 1.1.10: s. 2(2) |\n\n**Fair Work (Commonwealth Powers) Amendment Act 2009, No. 74/2009**\n\n| Assent Date: | 1.12.09 |\n| Commencement Date: | S. 11 on 1.1.10: Government Gazette 10.12.09 p. 3215 |\n\n**Consumer Affairs Legislation Amendment Act 2010, No. 1/2010**\n\n| Assent Date: | 9.2.10 |\n| Commencement Date: | S. 104 on 1.8.10: Government Gazette 22.7.10 p. 1628 |\n\n**Transport Integration Act 2010, No. 6/2010** (as amended by No. 45/2010)\n\n| Assent Date: | 2.3.10 |\n| Commencement Date: | S. 203(1)(Sch. 6 item 13) on 1.7.10: Special Gazette (No. 256) 30.6.10 p. 1 |\n\n**Credit (Commonwealth Powers) Act 2010, No. 11/2010**\n\n| Assent Date: | 30.3.10 |\n| Commencement Date: | S. 42 on 1.7.10: Government Gazette 24.6.10 p. 1273 |\n\n**State Taxation Acts Amendment Act 2010, No. 36/2010**\n\n| Assent Date: | 15.6.10 |\n| Commencement Date: | Ss 3–8 on 16.6.10: s. 2(1); ss 9, 10 on 1.7.10: s. 2(2) |\n\n**Residential Tenancies Amendment Act 2010, No. 67/2010**\n\n| Assent Date: | 28.9.10 |\n| Commencement Date: | S. 171 on 1.9.11: Special Gazette (No. 265) 16.8.11 p. 1 |\n\n**Road Legislation Miscellaneous Amendments Act 2010, No. 75/2010**\n\n| Assent Date: | 19.10.10 |\n| Commencement Date: | S. 23 on 1.8.11: s. 2(2) |\n\n**State Taxation Acts Amendment Act 2011, No. 28/2011**\n\n| Assent Date: | 21.6.11 |\n| Commencement Date: | Ss 17, 18, 20–29 on 22.6.11: s. 2(1); ss 3–16, 19 on 1.7.11: s. 2(3) |\n\n**Statute Law Revision Act 2011, No. 29/2011**\n\n| Assent Date: | 21.6.11 |\n| Commencement Date: | S. 3(Sch. 1 item 31) on 22.6.11: s. 2(1) |\n\n**Transport Legislation Amendment (Public Transport Development Authority) Act 2011, No. 61/2011**\n\n| Assent Date: | 15.11.11 |\n| Commencement Date: | S. 25 on 15.12.11: Special Gazette (No. 407) 13.12.11 p. 1; Sch. 1 item 3 on 2.4.12: Special Gazette (No. 101) 27.3.12 p. 1 |\n\n**State Taxation Acts Further Amendment Act 2011, No. 69/2011**\n\n| Assent Date: | 29.11.11 |\n| Commencement Date: | Ss 25, 26 on 30.11.11: s. 2(1); ss 5–24 on 1.4.12: s. 2(3) |\n\n**Duties Amendment (Landholder) Act 2012, No. 38/2012**\n\n| Assent Date: | 27.6.12 |\n| Commencement Date: | Ss 4–15 on 1.7.12: s. 2 |\n\n**State Taxation Acts Amendment Act 2012, No. 42/2012**\n\n| Assent Date: | 27.6.12 |\n| Commencement Date: | Ss 3–5, 8 on 28.6.12: s. 2(1); ss 6, 7 on 1.7.12: s. 2(2) |\n\n**Co-operatives National Law Application Act 2013, No. 9/2013**\n\n| Assent Date: | 13.3.13 |\n| Commencement Date: | S. 42(Sch. 2 item 7) on 3.3.14: Special Gazette (No. 46) 18.2.14 p. 1 |\n\n**Statute Law Amendment (Directors' Liability) Act 2013, No. 13/2013**\n\n| Assent Date: | 13.3.13 |\n| Commencement Date: | S. 56 on 14.3.13: s. 2 |\n\n**State Tax Laws Amendment (Budget and Other Measures) Act 2013, No. 41/2013**\n\n| Assent Date: | 28.6.13 |\n| Commencement Date: | S. 27 on 1.7.12: s. 2(2); s. 13 on 8.5.13: s. 2(3);    ss 14–26 on 29.6.13: s. 2(1) |\n\n**Workplace Injury Rehabilitation and Compensation Act 2013, No. 67/2013**\n\n| Assent Date: | 12.11.13 |\n| Commencement Date: | S. 649(Sch. 9 item 12) on 1.7.14: s. 2(1) |\n\n**State Taxation and Financial Legislation Amendment Act 2013, No. 69/2013**\n\n| Assent Date: | 19.11.13 |\n| Commencement Date: | Ss 9, 10 on 20.11.13: s. 2(1); ss 4–8 on 1.12.14: s. 2(4) |\n\n**Statute Law Revision Act 2013, No. 70/2013**\n\n| Assent Date: | 19.11.13 |\n| Commencement Date: | Ss 3(Sch. 1 item 15), 4(Sch. 2 item 13) on 1.12.13: s. 2(1) |\n\n**Mental Health Act 2014, No. 26/2014**\n\n| Assent Date: | 8.4.14 |\n| Commencement Date: | S. 455(Sch. item 9) on 1.7.14: s. 2(1) |\n\n**Building a Better Victoria (State Tax and Other Legislation Amendment) Act 2014, No. 40/2014**\n\n| Assent Date: | 17.6.14 |\n| Commencement Date: | Ss 3–10 on 1.7.14: s. 2(3) |\n\n**State Taxation Acts Amendment Act 2015, No. 26/2015**\n\n| Assent Date: | 29.6.15 |\n| Commencement Date: | S. 4 on 1.7.11: s. 2(2); s. 9 on 1.4.07: s. 2(3); ss 3, 5–8, 10, 12 on 30.6.15: s. 2(1); ss 11, 13, 14–24 on 1.7.15: s. 2(4) |\n\n**State Taxation Acts Further Amendment Act 2015, No. 67/2015**\n\n| Assent Date: | 1.12.15 |\n| Commencement Date: | S. 3 on 1.1.16: s. 2(4) |\n\n**State Taxation and Other Acts Amendment Act 2016, No. 40/2016**\n\n| *Assent Date:* | 28.6.16 |\n| *Commencement Date:* | Ss 3–10 on 1.7.16: s. 2(5) |\n\n**Transport Integration Amendment (Head, Transport for Victoria and Other Governance Reforms) Act 2017, No. 3/2017**\n\n| *Assent Date:* | 14.2.17 |\n| *Commencement Date:* | S. 50(Sch. 1 item 2) on 12.4.17: Special Gazette (No. 117) 12.4.17 p. 1 |\n\n**State Taxation Acts Amendment Act 2017, No. 28/2017**\n\n| *Assent Date:* | 27.6.17 |\n| *Commencement Date:* | Ss 42–44 on 27.6.17: s. 2(1); ss 3–40, 47 on 28.6.17: s. 2(2); ss 41, 45, 46 on 1.7.17: s. 2(3) |\n\n**Commercial Passenger Vehicle Industry Amendment (Further Reforms) Act 2017, No. 63/2017**\n\n| Assent Date: | 19.12.17 |\n| Commencement Date: | S. 21(Sch. 1 item 2) on 2.7.18: Special Gazette (No. 248) 29.5.18 p. 1 |\n\n**State Taxation Acts Further Amendment Act 2017, No. 67/2017**\n\n| *Assent Date:* | 19.12.17 |\n| *Commencement Date:* | S. 5 on 1.7.15: s. 2(2); s. 6 on 20.12.17: s. 2(4) |\n\n**State Taxation Acts Amendment Act 2018, No. 22/2018**\n\n| *Assent Date:* | 13.6.18 |\n| *Commencement Date:* | Ss 3–12, 17–19 on 14.6.18: s. 2(1); ss 13–16 on 1.7.18: s. 2(3) |\n\nG**uardianship and Administration Act 2019, No. 13/2019**\n\n| Assent Date: | 4.6.19 |\n| Commencement Date: | S. 221(Sch. 1 item 13) on 1.3.20: s. 2(2) |\n\n**State Taxation Acts Amendment Act 2019, No. 17/2019**\n\n| *Assent Date:* | 18.6.19 |\n| *Commencement Date:* | Ss 3–13, 34 on 19.6.19: s. 2(1); ss 14−33 on 1.7.19: s. 2(2) |\n\n**State Taxation Acts Further Amendment Act 2019, No. 46/2019**\n\n| Assent Date: | 19.11.19 |\n| Commencement Date: | Ss 3−10 on 20.11.19: s. 2(1) |\n\n**Transport Legislation Amendment Act 2019, No. 49/2019**\n\n| Assent Date: | 3.12.19 |\n| Commencement Date: | S. 186(Sch. 4 item 14) on 1.1.20: Special Gazette (No. 514) 10.12.19 p. 1 |\n\n**Local Government Act 2020, No. 9/2020**\n\n| *Assent Date:* | 24.3.20 |\n| *Commencement Date:* | S. 390(Sch. 1 item 27) on 6.4.20: Special Gazette (No. 150) 24.3.20 p. 1 |\n\n**State Taxation Acts Amendment (Relief Measures) Act 2020, No. 14/2020**\n\n| *Assent Date:* | 28.4.20 |\n| *Commencement Date:* | Ss 3–5 on 29.4.20: s. 2 |\n\n**State Taxation Acts Amendment Act 2020, No. 47/2020**\n\n| *Assent Date:* | 15.12.20 |\n| *Commencement Date:* | Ss 3–21 on 16.12.20: s. 2 |\n\n**State Taxation and Mental Health Acts Amendment Act 2021, No. 22/2021**\n\n| *Assent Date:* | 16.6.21 |\n| *Commencement Date:* | Ss 3–10, 19 on 1.7.21: s. 2(1) |\n\n**Social Services Regulation Act 2021, No. 37/2021** (as amended by No. 40/2022)\n\n| *Assent Date:* | 21.9.21 |\n| *Commencement Date:* | S. 391 on 1.7.24: s. 2(2) |\n\n**Suburban Rail Loop Act 2021, No. 43/2021**\n\n| *Assent Date:* | 19.10.21 |\n| *Commencement Date:* | S. 219(Sch. 1 item 4) on 1.12.21: Special Gazette (No. 649) 23.11.21 p. 1 |\n\n**Windfall Gains Tax and State Taxation and Other Acts Further Amendment Act 2021, No. 52/2021**\n\n| *Assent Date:* | 30.11.21 |\n| *Commencement Date:* | Ss 45–47 on 1.12.21: s. 2(1) |\n\n**State Taxation and Treasury Legislation Amendment Act 2022, No. 23/2022**\n\n| *Assent Date:* | 15.6.22 |\n| *Commencement Date:* | S. 12 on 1.7.22: s. 2(2) |\n\n**Mental Health and Wellbeing Act 2022, No. 39/2022**\n\n| *Assent Date:* | 6.9.22 |\n| *Commencement Date:* | S. 823 on 1.9.23: s. 2(2) |\n\n**Residential Tenancies, Housing and Social Services Regulation Amendment (Administration and Other Matters) Act 2022, No. 40/2022**\n\n| *Assent Date:* | 6.9.22 |\n| *Commencement Date:* | S. 51 on 7.9.22: s. 2(2) |\n\n**State Taxation Acts Amendment Act 2023, No. 18/2023[[4]](#endnote-5)**\n\n| *Assent Date:* | 27.6.23 |\n| *Commencement Date:* | Ss 3−5, 20−22 on 28.6.23: s. 2(3); ss 6–14, 15(2)–19 on 1.7.23: s. 2(4) |\n\n**Victorian Future Fund Act 2023, No. 19/2023**\n\n| *Assent Date:* | 27.6.23 |\n| *Commencement Date:* | S. 14 on 22.8.23: Special Gazette (No. 447) 22.8.23 p. 1 |\n\n**State Taxation Acts and Other Acts Amendment Act 2023, No. 38/2023**\n\n| *Assent Date:* | 12.12.23 |\n| *Commencement Date:* | Ss 3–12 on 13.12.23: s. 2(1) |\n\n**Commercial and Industrial Property Tax Reform Act 2024, No. 16/2024**\n\n| Assent Date: | 21.5.24 |\n| Commencement Date: | Ss 36−42 on 1.7.24: s. 2 |\n\n**State Taxation Amendment Act 2024, No. 22/2024**\n\n| *Assent Date:* | 4.6.24 |\n| *Commencement Date:* | S. 3 on 5.6.24: s. 2(2); s. 4 on 1.1.25: s. 2(5) |\n\n**Duties Amendment (More Homes) Act 2024, No. 45/2024**\n\n| *Assent Date:* | 19.11.24 |\n| *Commencement Date:* | S. 3 on 20.11.24: s. 2 |\n\n**State Taxation Further Amendment Act 2024, No. 50/2024**\n\n| *Assent Date:* | 3.12.24 |\n| *Commencement Date:* | Ss 3–30, 32, 33 on 4.12.24: s. 2(1); s. 31 on 1.1.25: s. 2(2) |\n\n**Help to Buy (Commonwealth Powers) Act 2025, No. 10/2025**\n\n| *Assent Date:* | 8.4.25 |\n| *Commencement Date:* | Ss 12, 13 on 25.6.25: Special Gazette (No. 322) 24.6.25 p. 1 |\n\n**State Taxation Acts Amendment Act 2025, No. 24/2025**\n\n| *Assent Date:* | 24.6.25 |\n| *Commencement Date:* | Ss 6–12 on 25.6.25: s. 2(1) |\n\n**Roads and Ports Legislation Amendment (Road Safety and Other Matters) Act 2025, No. 25/2025**\n\n| *Assent Date:* | 5.8.25 |\n| *Commencement Date:* | S. 106(Sch. 1 item 12) on 6.8.25: s. 2(1) |\n\n**State Taxation Further Amendment Act 2025, No. 48/2025**\n\n| *Assent Date:* | 25.11.25 |\n| *Commencement Date:* | Ss 21–26 on 26.11.25: s. 2(2) |\n\n–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––\n\n3 Explanatory details\n\n1. S. 28(2): The rate of duty chargeable on dutiable transactions in respect of marketable securities is dealt with in section 29. Concessional rates of duty chargeable on certain dutiable transactions are dealt with in Part 5 of this Chapter. [↑](#endnote-ref-2)\n\n2. Chapter 3: This Chapter charges duty on certain transactions that are not ***dutiable transactions*** under Chapter 2. Duty is chargeable under Part 2 of this Chapter on the acquisition by a person of an interest consisting of certain shareholdings in a private company, or unitholdings in a private unit trust scheme, whose property in either case consists, to the prescribed extent, of land holdings.\n\n  The duty is chargeable at the general rate for a dutiable transaction under Chapter 2, rather than at the rate applicable to transfers of shares and units. An acquisition statement must be lodged when a majority interest is acquired or increased. Duty on an acquisition statement is chargeable only on interests acquired within a 3-year period. In certain cases the obligation to pay duty at the higher rate is phased-in (see section 87).\n\n  Duty is chargeable—\n\n  under Part 3 on transactions by which corporate capital is reduced by redemption, surrender or cancellation of shares or reduction of share value or alteration of share rights;\n\n  under Part 4 on the allotment of shares by direction. [↑](#endnote-ref-3)\n\n3. S. 105: Section 10 of the **Financial Sector Reform (Victoria) Act 1999**, No. 37/1999 provides that property transferred under Part 3 of the Financial Sector (Business Transfer and Group Restructure) Act 1999 of the Commonwealth (***the Commonwealth Act***) becomes the property of the receiving body when the certificate of transfer issued under section 18 of the Commonwealth Act comes into force under Division 3 of Part 3 of the Commonwealth Act. [↑](#endnote-ref-4)\n\n4. Table of Amendments (**State Taxation Acts Amendment Act 2023**): The amendment proposed by section 15(1) of the **State Taxation Acts Amendment Act 2023**, No. 18/2023 is not included in this publication because the heading to section 58 is not considered part of this Act: see section 36(2A) of the **Interpretation of Legislation Act 1984**, No. 10096/1984.\n\n  Section 15(1) reads as follows:\n\n  15 Section 58 amended\n\n  (1) In the heading to section 58 of the **Duties Act 2000**, for \"**eligible pensioner?**\" **substitute** \"**eligible cardholder?**\". [↑](#endnote-ref-5)","sortOrder":438}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.6","source":"moonshot-batch-reanalyse","citationCount":18,"completionTokens":3836},"content_quality":"ok","complexity_score":9,"scope_assessment":{"changed":true,"description":"Originally enacted as a consolidated stamp duty statute, the Act has expanded far beyond simple property transfer taxation. It now operates as a broad economic and social policy instrument, incorporating foreign purchaser surcharges, landholder duty, complex anti-avoidance regimes for sub-sales and economic entitlements, corporate reconstruction concessions, and targeted social concessions for first home buyers, pensioners, young farmers, special disability trusts, and shared equity schemes. Recent amendments have further integrated state tax reform initiatives and Commonwealth housing programs."},"complexity_factors":["Over 100 defined terms in section 3 alone, many with nested definitions, amendment histories, and cross-references to Commonwealth legislation","14 Chapters covering disparate duty bases including property transfers, landholder acquisitions, insurance premiums, motor vehicles, and livestock sales","Extensive cross-referencing to federal statutes such as the Corporations Act and the Superannuation Industry (Supervision) Act, as well as other Victorian taxation laws","Multiple conditional exemption and concession regimes with post-transaction compliance obligations (residence requirements, use requirements, primary production requirements) and detailed clawback/reassessment mechanisms if conditions are breached","Part 4A sub-sale provisions contain four separate divisional schemes with overlapping rules for transfers involving additional consideration, land development, options with additional consideration, and options with land development","Complex foreign purchaser surcharge rules requiring tracing of controlling interests and substantial interests through corporations and trusts","Anti-avoidance provisions targeting economic entitlements, linked entities, and artificial duty-reduction schemes","Rate tables with multiple brackets, aggregation rules, apportionment formulas, and additional surcharges"],"plain_english_summary":"The **Duties Act 2000** is Victoria's main law for charging **stamp duty** (a state tax) on a wide range of transactions. Although some older taxes in the Act have been abolished, it still collects duty today on property deals, company and trust interests, motor vehicle registrations, and insurance premiums.\n\n**What gets taxed**\nThe Act applies to \"dutiable transactions\", which include:\n- **Land and property**: Buying, transferring, leasing, or acquiring interests in Victorian land.\n- **Shares and units**: Transfers of shares in Victorian companies or units in private unit trusts.\n- **Landholder duty**: Acquiring a significant stake in a company or trust that holds Victorian land.\n- **Motor vehicles**: Duty payable when a vehicle is registered.\n- **Insurance**: Duty on general insurance premiums.\n- **Other transactions**: Declarations of trust, surrenders, and certain business asset transfers.\n\n**How duty is calculated**\nDuty is usually worked out on the greater of:\n- The price paid (called **consideration**); or\n- The **market value** of the asset (called **unencumbered value**).\nThe Act includes rate tables that increase as the property value increases. Foreign purchasers of residential property must pay an extra surcharge on top of the standard rates.\n\n**Exemptions and discounts**\nThe Act contains many exemptions and concessions for specific people and situations, including:\n- **First home buyers** and **pensioners/concession card holders**: Full or partial exemptions for homes under certain values.\n- **Principal place of residence**: Reduced duty rates for people buying a home to live in.\n- **Family transfers**: Transfers between spouses or domestic partners, and transfers due to relationship breakdowns.\n- **Deceased estates**: Transfers by a deceased person's legal representative to beneficiaries.\n- **Farmers**: Exemptions for young farmers buying farmland, and transfers of family farms to relatives.\n- **Charities and health services**: Exemptions for transfers to charitable bodies and public hospitals.\n- **Superannuation and trusts**: Special rules for moving assets into complying super funds and passing property to trust beneficiaries.\n\n**Special rules to stop tax avoidance**\nThe Act includes complex rules targeting artificial arrangements:\n- **Sub-sales**: If a buyer on-sells a property before the original sale is completed, duty can be charged on both the original contract and the on-sale.\n- **Economic entitlements**: If someone acquires a right to income or profits from land without technically buying the land itself, the Act can treat it as a land purchase.\n- **Anti-avoidance**: The Commissioner can impose duty on schemes designed mainly to reduce tax.\n\n**Compliance and clawbacks**\nMany concessions come with strict conditions. For example, recipients of first home buyer or pensioner concessions generally must live in the home for at least 12 months. If they fail to do so, the concession is **clawed back** and extra duty becomes payable. Similar use requirements apply to young farmer and regional business concessions."},"summary":{"complexity_score":8,"scope_assessment":{"changed":true,"description":"The Act has expanded considerably beyond its original 2000 scope. Legislative amendments have added new dutiable transaction categories (notably landholder duty replacing the older land-rich provisions), introduced new concessions (including first home buyer concessions and off-the-plan concessions), and progressively phased out some duty types (such as mortgage duty, abolished in 2004). The overall scope has shifted from a broad multi-duty framework toward a narrower but more technically complex focus on property and landholder transactions, reflecting both tax reform policy and revenue considerations."},"complexity_factors":["Covers multiple distinct duty types (land transfer, insurance, motor vehicle, landholder, corporate trustee) each with separate calculation rules","Extensive exemptions and concessions regime requiring case-by-case assessment","Complex anti-avoidance provisions targeting arrangements designed to minimise duty","Interaction with trust law concepts, corporate law, and property law creates multi-disciplinary complexity","Landholder duty provisions require tracing ownership through corporate and trust structures","Numerous amendments since 2000 mean different rules apply to transactions at different points in time","Valuations of property and entitlements often disputed and subject to technical methodologies","Aggregation rules (combining multiple transactions) add a layer of calculation complexity","Partnership and joint venture provisions involve specialised rules not intuitive to lay readers"],"plain_english_summary":"## Duties Act 2000 (Victoria)\n\n**What is this?**\nThe Duties Act 2000 is Victoria's main law governing **stamp duty** (a tax you pay when you buy or transfer certain assets and property). It replaced older, more fragmented duty laws with a single consolidated framework.\n\n**Who does this affect?**\n- **Home buyers and property investors** — anyone purchasing land or real estate in Victoria pays duty under this Act\n- **Business owners** — transfers of business assets, shares, or company interests can trigger duty obligations\n- **Trustees and beneficiaries** — transfers in and out of trusts (legal arrangements where one person holds assets for another) are covered\n- **Insurers and policyholders** — certain insurance transactions attract duty\n- **Anyone receiving a gift of dutiable property**\n\n**What does it do?**\n- Sets out **which transactions attract duty** (the tax you must pay)\n- Specifies **how duty is calculated** — generally as a percentage of the property's value or purchase price\n- Defines **exemptions and concessions** (situations where you pay less or nothing, such as first home buyer concessions)\n- Establishes **obligations to lodge and pay** duty to the State Revenue Office\n- Sets out **penalties** for non-compliance or avoidance\n\n**Why does it matter?**\nDuty can be one of the **largest upfront costs** in buying property. On a $800,000 Melbourne home, for example, duty can exceed $40,000. Understanding what triggers duty — and what exemptions you might qualify for — can save you significant money."}},"importantCases":[],"_links":{"self":"/api/acts/duties-act-2000","history":"/api/acts/duties-act-2000/history","analysis":"/api/acts/duties-act-2000/analysis","conflicts":"/api/acts/duties-act-2000/conflicts","importantCases":"/api/acts/duties-act-2000/important-cases","documents":"/api/acts/duties-act-2000/documents"}}