{"id":"tas:sr-2021-037","name":"Duties Regulations 2021","slug":"duties-regulations-2021","collection":"regulation","jurisdiction":"tas","status":"in_force","isInForce":true,"actNumber":"37 of 2021","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":182155,"registerId":"tas-tas:sr-2021-037-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Short title","content":"### 1 Short title\n\n> These regulations may be cited as the [Duties Regulations 2021](/view/html/inforce/2026-04-12/sr-2021-037) .","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"### 2 Commencement\n\n> These regulations take effect on 29 June 2021.","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Interpretation","content":"### 3 Interpretation\n\n> In these regulations –\n> \n> > ***Act*** means the [Duties Act 2001](/view/html/inforce/2026-04-12/act-2001-015) ;\n> \n> > ***former Act*** means the [Stamp Duties Act 1931](/view/html/inforce/2026-04-12/act-1931-019) ;\n> \n> > ***prescribed day*** means 1 July 2001.","sortOrder":2},{"sectionNumber":"4","sectionType":"section","heading":"Prescribed fees","content":"### 4 Prescribed fees\n\n> > (1)  The fees specified in [Schedule 1](#JS1@EN) are prescribed as the fees payable to the Commissioner in respect of the matters to which they respectively relate.\n> \n> > (2)  The fees specified in [Schedule 1](#JS1@EN) are exclusive of GST.","sortOrder":3},{"sectionNumber":"5","sectionType":"section","heading":"Savings and transitional provisions","content":"### 5 Savings and transitional provisions\n\n> > (1)  An objection made on or after the prescribed day to an assessment of duty payable under the former Act is to be determined in accordance with section 21 of the former Act.\n> \n> > (2)  An appeal made on or after the prescribed day in relation to an assessment of duty payable under the former Act is to be determined in accordance with section 22 of the former Act.","sortOrder":4},{"sectionNumber":"6","sectionType":"section","heading":"Prescribed property","content":"### 6 Prescribed property\n\n> > (1)  For the purposes of [paragraph (c) of the definition of ***mortgage-backed security*** in section 3](/view/html/inforce/2026-04-12/act-2001-015#GS3@Nd37207513275463@Hpc@EN) of the Act, and [paragraph (b) of the definition of ***pool of mortgages*** in section 3](/view/html/inforce/2026-04-12/act-2001-015#GS3@Nd37207524849537@Hpb@EN) of the Act, the following property is prescribed property:\n> > \n> > > > (a) cash;\n> > > \n> > > > (b) bonds, debentures, stock or Treasury Bills, of a government authority;\n> > > \n> > > > (c) debentures, or stock, of a statutory authority constituted under the law of a government authority;\n> > > \n> > > > (d) notes or other securities of a government authority;\n> > > \n> > > > (e) deposits with authorised deposit-taking institutions;\n> > > \n> > > > (f) certificates of deposits, or other securities, issued by an authorised deposit-taking institution;\n> > > \n> > > > (g) bills of exchange, or promissory notes or other negotiable instruments, accepted, drawn or endorsed by an authorised deposit-taking institution;\n> > > \n> > > > (h) a guaranteed investment contract, expressed in Australian currency, of a type approved by the Commissioner;\n> > > \n> > > > (i) mortgage-backed securities.\n> \n> > (2)  For the purposes of [subregulation (1)](#GS6@Gs1@EN)  –\n> > \n> > > ***government authority*** means –\n> > > \n> > > > > (a) the Government of the Commonwealth; or\n> > > > \n> > > > > (b) the Government of Tasmania or another State; or\n> > > > \n> > > > > (c) the Administration of a Territory;\n> > \n> > > ***statutory authority*** means a body or authority, whether incorporated or not, that is established or constituted under a written law or under the royal prerogative, being a body or authority which, or of which the governing authority, wholly or partly comprises a person or persons appointed by the Governor, a Minister or another statutory authority, but does not include an Agency within the meaning of the [State Service Act 2000](/view/html/inforce/2026-04-12/act-2000-085) .","sortOrder":5},{"sectionNumber":"SCHEDULE 1 - Fees","sectionType":"part","heading":"SCHEDULE 1 - Fees","content":"# SCHEDULE 1 - Fees SCHEDULE 1 - Fees\n\n[Regulation 4](#GS4@EN)\n\n| Column 1 | Column 2 | Column 3 |\n| Item | Section of Act | Fee (fee units) |\n| 1. | 205(2)(b) | 352 |\n| 2. | 210(2)(b) | 314 |\n\nDisplayed and numbered in accordance with the *[Rules Publication Act 1953](/view/html/inforce/current/act-1953-050)*.\n\nNotified in the *Gazette* on 16 June 2021\n\nThese regulations are administered in the Department of Treasury and Finance.","sortOrder":6}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The regulations remain tightly focused on their original purpose: setting fees, defining property types for mortgage-backed securities, and handling transitional matters from the 2001 Act replacement. No scope creep detected."},"complexity_factors":["Only 3 defined terms in the interpretation section (Act, former Act, prescribed day)","Minimal cross-referencing — only refers back to the parent Duties Act 2001 and the old 1931 Act","Simple structure: 6 regulations plus a 2-item fee schedule","No nested exceptions or conditional logic beyond basic \"for the purposes of\" drafting","Straightforward lists (items a-i for prescribed property, items a-c for government authority)","Total length is approximately 1.5 pages of substantive content"],"plain_english_summary":"**What this legislation does:**\n\nThese regulations set the administrative rules for Tasmania's stamp duty system (now called \"duties\"). They do three main things:\n\n* **Sets fees** for certain applications and processes under the Duties Act 2001 — specifically, fees for applying to have duty reassessed (section 205) and for applying to have interest remitted (section 210). The fees are expressed in \"fee units\" (a standard way of setting fees that adjusts automatically with inflation).\n\n* **Defines what counts as \"prescribed property\"** for mortgage-backed securities. This matters for banks and financial institutions that bundle mortgages into investment products. The list includes cash, government bonds, bank deposits, and similar low-risk financial instruments.\n\n* **Handles old cases** by specifying that objections and appeals about stamp duty assessments made under the old 1931 Stamp Duties Act (for matters dating back before 2001) still get decided under the old Act's rules, even if they happen after 2001.\n\n**Who it affects:**\n\n* Property buyers and sellers in Tasmania dealing with duty reassessments or interest disputes\n* Banks and financial institutions issuing mortgage-backed securities\n* The Commissioner of State Revenue (who collects the fees)\n\n**Why it matters:**\n\nWithout these regulations, there would be no legal basis for charging fees for duty reassessments, and financial institutions wouldn't know exactly which assets qualify for special treatment when creating mortgage-backed securities. The transitional rules ensure old disputes don't get stuck in legal limbo when the law changed in 2001."},"issue_detection":{"absurdities":[],"contradictions":[]},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"The regulations do not expand or create new duty liabilities; they implement the Duties Act by prescribing administrative details (fees, a list of prescribed property for definitions, and transitional savings). They clarify scope for particular asset types and procedural continuity but do not alter the substantive reach of duty obligations (see regs 4, 6 and 5)."},"complexity_factors":["Narrow, administrative scope (fees, prescribed property, transitional savings)","Cross-references to primary Act (Duties Act 2001) and former Stamp Duties Act 1931","Defined-term detail and exclusions (e.g. statutory authority excluding State Service Act Agencies)","Numeric fee schedule tied to specific Act sections (Schedule 1: items for ss 205(2)(b) and 210(2)(b))","Limited Commissioner discretion (approval of guaranteed investment contract types)","Transitional provisions preserving prior objection/appeal paths for legacy assessments"],"plain_english_summary":"The Duties Regulations 2021 provide technical detail for the Duties Act 2001: they set specific fees (Schedule 1), list which financial assets qualify as \"prescribed property\" for mortgage-backed securities and mortgage pools, and preserve appeals/objections under the earlier Stamp Duties Act for matters from 1 July 2001. The rules mainly affect taxpayers, financial institutions and the Commissioner by fixing administrative fees, clarifying which assets trigger duty treatment and giving the Commissioner limited approval power for certain guaranteed investment contracts."},"summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"Insufficient content is available to determine whether the scope of these regulations changed from their original intent. No operative provisions, explanatory material, or amendment history was included in the provided text — only filing and currency metadata."},"complexity_factors":["Insufficient legislative content was provided to assess true complexity — only metadata and administrative information is visible","Duties/stamp duty law is generally moderately complex, but the regulations (as subordinate legislation) typically handle narrower, more procedural matters than the parent Act","No schedules, tables, or operative provisions were available for analysis","Score is low by default due to absence of substantive content, not because the subject matter is inherently simple"],"plain_english_summary":"These regulations implement technical and procedural rules under Tasmania’s Duties Act (stamp duty) and have been in force since 29 June 2021. They apply only in Tasmania and mainly affect anyone who pays stamp duty — for example home buyers, property investors and businesses transferring assets — by setting out the detailed operational rules that support the primary law."}},"importantCases":[],"_links":{"self":"/api/acts/duties-regulations-2021","history":"/api/acts/duties-regulations-2021/history","analysis":"/api/acts/duties-regulations-2021/analysis","conflicts":"/api/acts/duties-regulations-2021/conflicts","importantCases":"/api/acts/duties-regulations-2021/important-cases","documents":"/api/acts/duties-regulations-2021/documents"}}