Part IIILiability to duty or tax

An Act relating to the Assessment, Payment and Collection of Australian Capital Territory Stamp Duty and Tax ## Part I—Preliminary #### 1 Short title \[see Note 1\] This Act may be cited as the Australian Capital Territory Taxation (Administration) Act 1969. #### 2 Commencement \[see Note 1\] This Act shall come into operation on a date to be fixed by Proclamation. #### 4 Interpretation (1) In this Act, unless the contrary intention appears: > A.C.T. Commissioner means the Commissioner for Australian Capital Territory Revenue Collections appointed under the Taxation Administration Ordinance 1987 of the Australian Capital Territory. > adhesive stamp means an adhesive stamp made in pursuance of subsection 8(1). > aircraft means a machine or apparatus that can derive support in the atmosphere from the reactions of the air or from buoyancy, but does not include an air‑cushion vehicle. > approved means approved for the purposes of this Act by the Commissioner. > assessment means: (a) an assessment under this Act by the Commissioner of the amount of duty or tax payable under this Act (including an assessment of tax in respect of a return); or (b) an assessment of the Commissioner under this Act of an additional amount payable under section 70; and includes an amended assessment. > Australian Stock Exchange means the Sydney Stock Exchange, the Stock Exchange of Melbourne, the Brisbane Stock Exchange, the Stock Exchange of Adelaide, the Stock Exchange of Perth or the Hobart Stock Exchange. > authority of the Commonwealth or of a Territory means a body corporate (not being an incorporated company, society or association) incorporated for a public purpose by or under a law of the Commonwealth or of a Territory. > bill of exchange means an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person, or to bearer. > borrower means: (a) in relation to: (i) a loan security; or (ii) an instrument of the kind referred to in subsection 58M(1); the borrower or the person bound; (b) in relation to an instrument lodged under subsection 58R(2) by a body corporate—the body corporate; or (c) in relation to an instrument of trust referred to in paragraph (g) of the definition of mortgage in section 58H—the person who issued the corporate debentures to which the instrument relates. > broker means a member of an Australian Stock Exchange. > cancel, in relation to an adhesive stamp, means cancel the stamp as provided by subsection 14(1), and cancelled and cancellation have corresponding meanings. > changeover day means the date of commencement of section 59 of the Taxation Laws Amendment Act (No. 2) 1987. > cheque means a bill of exchange drawn on a banker payable on demand, and includes a promissory note payable on demand made by a banker. > Commonwealth Commissioner means the Commissioner of Taxation. > company includes a body, society, association, authority or institution, whether corporate or unincorporate, but does not include a partnership. > conveyance means a lease, a transfer or assignment of a lease, an agreement for a transfer or assignment of a lease, or a transfer, or an agreement for a transfer, of an estate in fee simple in land. > corporate debenture means a debenture of a body corporate and includes debenture stock, a bond, a note and any other security of a body corporate, whether it constitutes a charge on assets of the body corporate or not. > Crown lease means a lease granted by or in the name of the Commonwealth. > debenture includes debenture stock, bond, note and any other security of a company, whether it constitutes a charge on assets of the company or not. > duty means stamp duty. > execute, in relation to an instrument, means sign the instrument and, if the instrument is under seal, sign and seal the instrument, and execution has a corresponding meaning. > goods includes all chattels personal other than money or things in action. > hire‑purchase agreement includes 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 an agreement: (a) by which the property in the goods comprised in the agreement passes at the time of the agreement or upon or at a time before delivery of the goods; or (b) under which the goods are being hired or purchased primarily for the purpose of re‑sale by a person who is engaged in the trade or business of selling goods of the same nature or description as the goods comprised in the agreement. > hirer, in relation to a hire‑purchase agreement, means the person to whom goods are let, hired or agreed to be sold under the agreement. > holder, in relation to a bill of exchange or promissory note, means the payee or indorsee in possession of the bill of exchange or promissory note or, in the case of a bill of exchange or promissory note that is payable to bearer, the person in possession of the bill of exchange or promissory note. > impressed stamp means a stamp impressed by the Commissioner by means of a die or other device made in pursuance of subsection 8(1). > instrument includes any document. > insurance means an undertaking of liability to make good, or indemnify against, loss or damage (including liability to pay damages or compensation), or insuring the payment of money, contingent upon the happening of a specified event, and includes: (a) the accepting of a premium in consideration of the granting, issuing or keeping in force of a policy of insurance; (b) the granting of a cover note or the receiving of a letter or declaration of interest attaching to a policy of insurance; and (c) the carrying out, by means of insurance effected outside the Territory, of a contract or undertaking in the Territory to effect that insurance; but does not include re‑insurance effected with another insurer. > insurer means a person who carries on the business of insurance, and includes an authority constituted under a law of a State that carries on the business of insurance, but does not include the Defence Service Homes Corporation. > international trade insurance means: (a) insurance of freight against loss or damage in the course of, or incidental to, international transport of the freight; (b) insurance of an aircraft or ship against loss or damage during a particular period when the aircraft or ship is under construction or undergoing refitting, maintenance or repairs where, at the time the insurance was effected, the aircraft or ship was intended by the owner to be used wholly or principally for the international transport of freight for an indefinitely continuing period commencing immediately after the completion of the construction, refitting, maintenance or repairs, as the case may be; (c) insurance of an aircraft or ship against loss or damage in the course of, or incidental to, a particular journey or journeys where, at the time the insurance was effected, it was intended by the owner that the journey or journeys would be wholly or principally for the international transport of freight; or (d) insurance of an aircraft or ship against loss or damage during a particular period where, at the time the insurance was effected, the aircraft or ship was intended by the owner to be used during that period wholly or principally for the international transport of freight. > international transport, in relation to freight, means the transport in, or in connection with, trade or commerce, of the freight between: (a) a place in a foreign country; and (b) a place in: (i) another foreign country; (ii) Australia; or (iii) an external Territory. > lease includes a sublease and an agreement for a lease or sublease, but does not include: (a) an attornment under a mortgage or contract of sale; (b) a right granted by a company to a shareholder of the company, by virtue of his being such a shareholder, to occupy or use land owned or held under lease by the company; or (c) an option to renew a lease. > lessee means a person to whom a lease is granted or agreed to be granted. > life insurance means insurance insuring the payment of money on death (not being death by accident only or specified sickness only) or on the happening of a contingency dependent upon the termination or continuance of human life (either with or without provision for a benefit under a continuous disability contract referred to in paragraph (c)), and includes: (a) insurance under an instrument evidencing a contract that is subject to payment of premiums for a term dependent upon the determination or continuance of human life; (b) insurance under an instrument securing the grant of an annuity for a term dependent upon the termination or continuance of human life; (c) insurance under a continuous disability insurance contract (which is by its terms expressed to be of more than one year’s duration and is incorporated in a life policy) under which a person is to become entitled to a benefit in the event of the occurrence, within the duration of the contract, of death by accident or by another cause specified in the contract, or injury or disability caused by accident or sickness; and (d) insurance under a sinking fund policy insuring the payment of a sum, or series of sums, of money on a future date or dates in consideration of one or more premiums. > loan security means: (a) a mortgage within the meaning of Division 12 of Part III; (b) a corporate debenture; or (c) a bond, or a covenant, for securing a loan made or to be made; but does not include an instrument included in a prescribed class of instruments. > marketable security means: (a) a share in the capital of a company; or (b) a unit in relation to a unit trust scheme; and includes a right, whether existing or future and whether contingent or not, of a person to have issued to the person such a share or unit, whether on payment of money or other consideration or not. > member of a diplomatic mission means the head of a diplomatic mission or a member of the diplomatic staff or administrative and technical staff of a diplomatic mission. > Motor Traffic Ordinance means the Motor Traffic Ordinance 1936 of the Australian Capital Territory. > negotiation, in relation to a bill of exchange or promissory note, means acceptance, indorsement or transfer of the bill of exchange or promissory note, and negotiated has a corresponding meaning. > non‑commercial Commonwealth authority means a body corporate (not being an incorporated company, society or association) that: (a) is incorporated for a public purpose by or under a law of the Commonwealth or of the Territory; and (b) does not have as its sole or principal function the carrying on of an activity in the nature of a business, whether or not for profit. > non‑resident means a person who is not a resident of Australia. > owner, in relation to a hire‑purchase agreement, means the person letting, hiring or agreeing to sell goods under the agreement. > person includes a company. > premium, in relation to insurance, means the gross amount charged or payable as premium in respect of the insurance without deduction for an amount paid or payable or allowed or allowable by way of discount or commission to an agent or other person for securing or arranging that insurance for or on behalf of the insurer, and includes an instalment of a premium. > premium received includes an amount credited in account in the books of an insurer in respect of insurance as a premium received for that insurance, whether by way of a charge made by the insurer against moneys due to the person insured by the insurance, or otherwise, but does not include, where the head office for Australia of an insurer is in the Territory, a premium noted only in the books of the head office as a premium received in a branch or agency of the insurer outside the Territory. > promissory note means an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay, on demand or at a fixed or determinable future time, a sum certain in money, to or to the order of a specified person, or to bearer. > purchase price, in relation to a hire‑purchase agreement, means the total amount of moneys paid or payable, and the value of any other consideration provided or to be provided, by the hirer under the agreement less the sum of: (a) the amount of any deposit or other money or the value of any other consideration paid or given by the hirer at or before the execution of the agreement as part consideration; (b) the total amount payable under the agreement for or by way of interest, insurance or other charge; and (c) an amount: (i) payable under the agreement; (ii) designated as stamp duty on the agreement or as tax in respect of the agreement; and (iii) not exceeding the amount of the stamp duty or tax. > Real Property Ordinance means the Real Property Ordinance 1925 of the Australian Capital Territory. > registered owner means a person who is registered under Division 4 of Part III. > registered under a corresponding law, in relation to a vehicle, means registered or licensed (whether originally or by way of renewal or transfer or otherwise) under a law of a State or Territory providing for the registration or licensing of vehicles, and registration, in connection with such a law, has a corresponding meaning. > Registrar means the Registrar of Motor Vehicles appointed in pursuance of the Motor Traffic Ordinance. > registration, in relation to a vehicle, means registration under the Motor Traffic Ordinance, whether by way of original registration or renewal or transfer of registration or otherwise, and register and registered have corresponding meanings. > rent does not include an amount in the nature of a penal rent. > return means a return under section 24, 32, 42, 44E or 53. > scheme means: (a) an agreement, arrangement, understanding, promise or undertaking, whether express or implied and whether or not enforceable, or intended to be enforceable, by legal proceedings; and (b) a scheme, plan, proposal, action, course of action or course of conduct; and includes a unilateral scheme, plan, proposal, action, course of action or course of conduct. > scheme to avoid or reduce stamp duty means a scheme, where the person who has, or one or more of the persons who have, entered into or carried out the scheme or a part of the scheme, did so for the purpose of securing: (a) that an amount of duty would not be payable by a person, being an amount that would have been, or might reasonably be expected to have been, payable by the person; (b) that an amount of duty payable by a person would be less than the amount that would have been, or might reasonably be expected to have been, payable by the person; or (c) that a refund of duty would be payable to a person, being a refund that would not have been, or might reasonably be expected not to have been, payable to the person; if the scheme had not been entered into or carried out, or for purposes of which that purpose was the dominant purpose. > ship means a vessel or boat of any description, and includes: (a) an air‑cushion vehicle; and (b) a floating structure. > stamp duty means stamp duty imposed by the Australian Capital Territory Stamp Duty Act 1969. > tax means a tax imposed by the Australian Capital Territory Tax (Sales of Marketable Securities) Act 1969, the Australian Capital Territory Tax (Purchases of Marketable Securities) Act 1969 the Australian Capital Territory Tax (Transfers of Marketable Securities) Act 1986, the Australian Capital Territory Tax (Insurance Business) Act 1969, the Australian Capital Territory Tax (Life Insurance Business) Act 1981, the Australian Capital Territory Tax (Vehicle Registration) Act 1981, the Australian Capital Territory Tax (Cheques) Act 1969 or the Australian Capital Territory Tax (Hire‑purchase Business) Act 1969. > termination day means: (a) in relation to tax or duty of a particular class or classes in respect of which a day is fixed by Proclamation as the termination day—that day; and (b) in any other case—the changeover day. > the Territory means the Australian Capital Territory and includes the Jervis Bay Territory. > third party insurance means insurance effected for the purpose of, and in accordance with the requirements of, a law of a State or Territory relating to the compulsory insurance of the owners and drivers of motor vehicles, as defined by that law, against liability in respect of the death of, or bodily injury to, persons caused by or arising out of the use of the motor vehicles. > Tribunal means the Administrative Appeals Tribunal. > trustee includes: (a) a person constituted a trustee under an implied or constructive trust; (b) in relation to a deceased person, an executor of the will, or an administrator of the estate, of that deceased person; (c) a receiver, guardian, committee or manager of the property of a person under a legal or other disability; (d) a receiver or manager of the property of a company or a liquidator of a company for the purpose of its winding‑up; (e) a broker who executes a transfer of a marketable security as transferee on behalf of another person for the purpose of safeguarding the interests of that person in relation to dividends payable to the holder of that marketable security or in relation to the issue of other marketable securities to which the holder of that first‑mentioned marketable security becomes entitled by reason of being such a holder; and (f) a person who may be required to exercise his voting power in relation to a marketable security at the direction of, or holds the marketable security for the benefit of, another person. > unit, in relation to a unit trust scheme, means a right or interest (whether described as a unit or sub‑unit or otherwise) of a beneficiary under the scheme. > unit trust means a trust to which a unit trust scheme relates. > unit trust scheme means any arrangements made for the purpose, or having the effect, of providing, for a person having funds available for investment, facilities for the participation by the person, as a beneficiary under a trust, in any profits or income arising from the acquisition, holding, management or disposal of any property pursuant to the trust. > vehicle means: (a) a motor vehicle within the meaning of the Motor Traffic Ordinance; or (b) a trailer within the meaning of that Ordinance. (2) For the purposes of the definition of bill of exchange in subsection (1), an order to pay out of a particular fund or within a specified time is not unconditional within the meaning of that definition, but an unqualified order to pay coupled with an indication of a particular account to be debited with the amount is unconditional. (3) For the purposes of this Act, a reference to the duly stamping of an instrument is a reference: (a) in relation to an instrument the duty on which is required or permitted by this Act to be denoted by an adhesive stamp—to the affixing of an adhesive stamp to the instrument having a value not less than the amount of the duty and the cancellation of the stamp in accordance with this Act; and (b) in relation to an instrument the duty on which is required or permitted by this Act to be denoted by impressed stamp—to the impressing on the instrument by the Commissioner of a stamp of the amount of the duty. (4) Unless the contrary intention appears, a reference in this Act to a broker includes, where the broker is a member of a firm of brokers, a reference to that firm. (6) For the purposes of this Act, an application for the registration of a vehicle shall be taken to be made at the time when the application, duly made in pursuance of the requirements of the Motor Traffic Ordinance, is received by the Registrar. (7) For the purposes of this Act: (a) a vehicle registered in the name of a partnership (but not in the names of the several partners), or on behalf of a partnership, shall be deemed to be registered in the names of the persons who are members of the partnership at the time of the registration; (b) a vehicle registered (otherwise than as described in paragraph (a)) in the name of a business name registered under the Business Names Ordinance 1963 of the Australian Capital Territory shall be deemed to be registered in the name or names of the person or persons in relation to whom that business name is registered under that Ordinance at the time of the registration of the vehicle; and (c) a vehicle registered on behalf of a body corporate (otherwise than as described in paragraph (b)) shall be deemed to be registered in the name of that body corporate. (8) For the purposes of subsection (7), registered, in relation to a vehicle, includes registered under a corresponding law, and registration has a corresponding meaning. (9) For the purposes of this Act: (a) where a bill of exchange or promissory note is dated, the bill or note shall, unless the contrary is shown, be deemed to have been drawn or made on that date; and (b) an instrument shall be deemed to have been executed on the date on which the last party to the instrument appears to have executed it. (10) The reference in paragraph (c) of the definition of loan security in subsection (1) to a loan includes a reference to: (a) an advance of money; (b) money paid for or on account of or on behalf of or at the request of a person; (c) a forbearance to require payment of money owing on any account; and (d) a transaction (whatever its terms or form) which in substance effects a loan of money. (11) For the purposes of this Act, a loan security shall be taken to be connected with the Territory if, and only if: (a) in a case where the loan security subjects property to a security—the whole or a part of that property is situated in the Territory; or (b) in any case—the loan security is executed in the Territory by the borrower. (12) For the purposes of this Act, a loan security that is not executed shall be deemed to be executed when and where it is issued. (13) In this Act, a reference to the amount secured by a loan security is, in relation to a mortgage within the meaning of Division 12 of Part III, being an instrument of trust referred to in paragraph (g) of the definition of mortgage in section 58H, a reference to the amount repayable in respect of the corporate debentures to which the instrument relates. (14) A reference in this Act to the registration of a transfer of a marketable security includes a reference to the recording or entry of the transfer. #### 4A Application of the Criminal Code Chapter 2 of the Criminal Code applies to all offences created by this Act. > Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility. ## Part II—Administration #### 5 Administration of Act The Commissioner of Taxation has the general administration of this Act. #### 5A Transfer of administration from Commonwealth Commissioner (1) On and after the changeover day, this Act and related laws have effect as if: (a) a reference in this Act (other than sections 7 and 95) or a related law to the Commissioner or to the Commissioner of Taxation were a reference to the A.C.T Commissioner; (b) anything done by, or done or arising in relation to, the Commonwealth Commissioner before the changeover day had been done by, or had been done or had arisen in relation to, the A.C.T. Commissioner; (c) a reference in sections 58AD, 58T and 91A to an Act of which the A.C.T. Commissioner has the general administration included a reference to a law of the Territory of which the A.C.T. Commissioner has the general administration; (d) a reference in sections 7 and 95 to the Commissioner were a reference to the A.C.T. Commissioner or the Commonwealth Commissioner; and (e) a reference in section 3C of the Taxation Administration Act 1953 and section 8 of the Taxation (Interest on Overpayments and Early Payments) Act 1983 to the Commissioner were a reference to the A.C.T. Commissioner or the Commonwealth Commissioner. (2) Where, at the beginning of the changeover day, the Commonwealth Commissioner is a party to proceedings that are in whole or in part proceedings arising out of this Act or a related law: (a) the proceedings, if continued, shall be continued with the Commonwealth Commissioner as a party; and (b) the Commonwealth Commissioner shall act as representative of the A.C.T. Commissioner in so far as the proceedings are proceedings arising out of this Act or the related law. (3) Section 8 of the Taxation Administration Act 1953 applies for the purposes of this Act and any related law as if references in that section to the Commonwealth Commissioner were references to the A.C.T. Commissioner. (4) In this section: > party includes intervenor. > related law means any law of the Commonwealth (other than Part II, and Division 3 of Part IIIA, of the Taxation Administration Act 1953) to the extent to which the law has effect in relation to this Act. (5) A reference in any law of the Commonwealth to an Act of which the Commonwealth Commissioner has the general administration includes a reference to this Act. #### 6A Annual report (1) The Commissioner shall, as soon as practicable after 30 June in each year, prepare and furnish to the Minister a report on the working of this Act, including any breaches or evasions of this Act of which the Commissioner has notice. (2) The Minister shall cause a copy of a report furnished to him under subsection (1) to be laid before each House of the Parliament within 15 sitting days of that House after the day on which he receives the report. (3) For the purposes of section 34C of the Acts Interpretation Act 1901, a report that is required by subsection (1) to be furnished as soon as practicable after 30 June in a year shall be taken to be a periodic report relating to the working of this Act during the year ending on that 30 June. #### 7 Secrecy (1) Subject to this section, a person who is or has been employed by the Commonwealth shall not, either directly or indirectly, except for the purposes of this Act: (a) make a record of, or communicate to a person, information concerning the affairs of another person acquired by him under this Act by reason of that employment; or (b) produce to a person or permit a person to have access to a document furnished to him for the purposes of this Act. Penalty: $5,000 or imprisonment for 12 months, or both. (2) Subsection (1) does not apply to the communication of information or the production of a document by the Commissioner, or by a person authorized by him, to: (a) the Tribunal in connection with proceedings under an Act of which the Commissioner has the general administration; or (b) a person performing, in pursuance of employment by the Commonwealth, a function under an Act administered by the Commissioner for the purpose of enabling that person to carry out that function. (3) For the purposes of this section, a person who, although not employed by the Commonwealth, performs services for the Commonwealth shall be taken to be employed by the Commonwealth. #### 8 Duty stamps (1) For the purposes of this Act, the Commissioner shall cause adhesive stamps for denoting the payment of amounts of duty to be made and sold as he directs, and shall cause dies or other devices for the making of impressed stamps for denoting the payment of amounts of duty or tax or for the purposes of section 17 to be made and used as he directs. (2) A person shall not: (a) make, sell, use, utter or have in his possession a counterfeit adhesive stamp knowing it to be counterfeit; (b) make, sell, use or have in his possession a die, plate or other device for printing or making adhesive stamps; or (c) make, sell, use or have in his possession, a die or other device for making impressed stamps. Penalty: $10,000 or imprisonment for 5 years, or both. (3) A stamp, die, plate or device made, sold, used, uttered or had in possession in contravention of this section is forfeited to the Commonwealth. ## Part III—Liability to duty or tax ### Division 1—General #### 9 When duty or tax payable (1) Subject to this Act: (a) tax in respect of a return is due and payable by the person required by this Part to furnish the return upon the last day for the due furnishing of that return; (b) duty on an instrument that is required by this Act to be lodged with the Commissioner for assessment is due and payable by the person liable to pay it upon the date specified in a notice of that assessment as the date upon which the duty is due and payable or, if a date is not so specified or such a notice is not served on that person, upon the expiration of 30 days after the date of his being informed of the assessment; (c) duty on any other instrument is due and payable at the time when the instrument is required by this Part to be duly stamped; and (d) a penalty is due and payable upon the date specified in the notice of assessment of the penalty as the date upon which the penalty is due and payable. (2) Where the Commissioner extends the time for payment of duty tax or penalty for a period, the duty, tax or penalty, as the case may be, is not due and payable until the expiration of that period. (3) The Commissioner may, in such circumstances as he thinks fit, permit the payment of duty, tax or penalty to be made by instalments in such amounts and at such times as he determines, and each instalment of that duty, tax or penalty, as the case may be, is due and payable at the time so determined in relation to that instalment. (4) If an instalment of duty, tax or penalty is not paid on or before the time for the due payment of that instalment, the whole of the duty, tax or penalty, as the case may be, outstanding becomes due and payable at that time. (5) In this section, penalty means an additional amount payable under section 70. #### 11 Duty and tax denoted by stamps Subject to this Act, payment of stamp duty shall be denoted by adhesive stamp or impressed stamp, and payment of tax by impressed stamp. #### 12 Fraudulently removing etc. stamps (1) A person shall not, with intent to defraud: (a) do an act that results in the defacing of an adhesive stamp; (b) remove an adhesive stamp from an instrument liable to duty; (c) affix an adhesive stamp that has been so removed from an instrument to another instrument liable to duty; or (d) impress on an instrument a stamp that is or resembles an impressed stamp. Penalty: $10,000 or imprisonment for 2 years, or both. (2) An instrument shall be regarded as being duly stamped notwithstanding that an adhesive stamp has been defaced or removed if the Commissioner is satisfied that an adhesive stamp denoting the duty payable had been duly affixed to the instrument. #### 13 Refunds for spoilt etc. stamps (1) Where an adhesive stamp has been spoilt by a person or has been affixed by a person to an instrument in error, the person may deliver the stamp or the instrument to the Commissioner and apply to him, in accordance with an approved form, for a refund of the amount of duty denoted by the stamp. (2) If the Commissioner of Taxation is satisfied that an adhesive stamp has been so spoilt or has been so affixed to an instrument in error, he shall cause the stamp to be destroyed and shall refund to the applicant the amount of duty denoted by the stamp. #### 14 Cancellation of stamps (1) Subject to this section, where duty on an instrument is required or permitted by this Act to be denoted by adhesive stamp, and an adhesive stamp is accordingly affixed to the instrument, the person affixing the stamp shall, immediately after affixing it, cancel the stamp: (a) by writing in ink on or across the stamp, his name or initials, or by so writing the name or initials, or by impressing the seal, of a firm or company on whose behalf the instrument is executed on or across the stamp; and (b) by writing in ink on or across the stamp the date on which the cancellation is made. Penalty: $1,000. (2) If there are several parties executing an instrument at the time an adhesive stamp is affixed to it, the cancellation shall be regarded as effectual if made as provided by subsection (1) by any one of the parties. (3) A person shall not fraudulently remove from an adhesive stamp any writing placed on it under subsection (1). Penalty: $5,000 or imprisonment for 12 months or both. (4) Where a bill of exchange or promissory note to which is affixed an adhesive stamp that has not been cancelled comes into the hands of a holder in the Territory, the holder shall forthwith cancel the stamp. Penalty for contravention of this subsection: $1,000. #### 15 Matters subject to duty or tax (1) Where one instrument relates to several distinct matters in respect of which duty or tax is payable, each of those matters shall, for the purposes of this Act, be treated as if it were expressed in a separate instrument. (2) Where 2 or more instruments together but not separately relate to the same matter, the instruments shall be treated, for the purposes of this Act, as a single instrument executed at the time when the last instrument was executed. #### 16 Money in foreign currency to be valued Where duty or tax in respect of an instrument is imposed in respect of an amount of money expressed in the instrument otherwise than in Australian currency, the duty or tax shall be calculated in Australian currency at the rate of exchange current at the date of the instrument. #### 17 Instrument on which no duty is payable (1) Where the Commissioner is satisfied that an instrument liable to duty has been duly stamped, he may put an impressed stamp in accordance with an approved style on a counterpart or copy of that instrument. (2) Where the Commissioner is satisfied that no duty or tax is payable in respect of an instrument, he may put an impressed stamp in accordance with an approved style on the instrument or on a counterpart or copy of the instrument. (3) Where a banker carrying on business in the Territory is satisfied that cheques drawn by a customer of the banker are exempt from stamp duty, the banker may impress a stamp or print on or perforate a cheque form supplied by the banker to the customer in accordance with an approved style. (4) A person shall not impress a stamp or print on or perforate an instrument in accordance with a style that resembles or purports to be an approved style under this section. Penalty: $10,000 or imprisonment for 2 years, or both. (5) An agreement for a lease or for a transfer or assignment of a lease or of an estate in fee simple, being an agreement executed after the commencement of this Act, shall, for the purposes of this Act, be treated as the original of the lease, transfer or assignment made subsequently to give effect to the agreement, and the lease, transfer or assignment so made shall be treated as the counterpart of the agreement. (6) Where: (a) 2 or more instruments together but not separately relate to the same matter, being a matter in respect of which duty is payable; (b) each such instrument contains a reference to the other instrument or instruments; and (c) one of those instruments is duly stamped; each such instrument shall be deemed to be duly stamped. ### Division 2—Cheques on authorized cheque forms #### 18 Authority to bankers to supply printed cheque forms (1) A banker carrying on business in the Territory may apply to the Commissioner in writing in accordance with an approved form for an authority under this Division. (2) Upon application under subsection (1) from a banker carrying on business in the Territory, the Commissioner may, by instrument, authorize the banker to supply to customers of the banker, or to use for the purposes of the banker, cheque forms bearing the impression of a stamp or printing or perforation in accordance with an approved style. (3) An instrument granting an authority under this Division shall set out the approved style of stamp, printing or perforation on the cheque forms for the purpose of subsection (2). #### 19 Conditions of authority (1) A banker to whom an authority is granted under this Division shall: (a) maintain adequate control over the printing, stamping, perforation, supply and use of all cheque forms of the banker; (b) keep proper records in relation to those cheque forms; and (c) otherwise comply with the provisions of this Act that are applicable to him. Penalty: $1,000. (2) An offence under paragraph (1)(a) or (b) is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code. #### 20 Revocation of authority The Commissioner may, by instrument served on a banker, revoke an authority granted to the banker under this Division if the banker is convicted of an offence against this Act. #### 21 Review of revocation of authority An application may be made to the Tribunal for review of a revocation by the Commissioner under section 20 of an authority granted to a banker under this Division. #### 22 Unauthorised bankers not to issue authorised cheque forms A banker shall not supply or use a cheque form bearing the impression of a stamp or printing or perforation in accordance with a style approved under section 18, or resembling or purporting to be such an approved style, except in pursuance of an authority granted under this Division. Penalty: $5,000. (2) This section does not apply to the supply or use of a cheque form on or after the day that is the termination day for the tax imposed by the Australian Capital Territory Tax (Cheques) Act 1969. #### 23 Offence to use unauthorised cheque forms denoting payment of tax A person shall not draw a cheque on an instrument bearing the impression of a stamp or printing or perforation in accordance with a style approved under section 18, or resembling or purporting to be such an approved style, knowing it to be an instrument that is not a cheque form supplied by a banker in pursuance of an authority under this Division. Penalty: $1,000. (2) This section does not apply to the drawing of a cheque on or after the day that is the termination day for the tax imposed by the Australian Capital Territory Tax (Cheques) Act 1969. #### 24 Returns by authorised bankers (1) A banker to whom an authority has been granted under this Division shall, within 21 days after the expiration of each month of each year: (a) furnish to the Commissioner a return of all cheque forms supplied or used by the banker during that month; and (b) pay the tax payable in respect of the cheque forms so supplied or used by the banker during that month less the amount of any tax remitted under section 25. (1A) Subsection (1) does not apply in respect of a month commencing on or after the termination day for the tax imposed by the Australian Capital Territory Tax (Cheques) Act 1969. (2) A return under this section shall be in accordance with an approved form and shall contain such particulars as are required by the form. #### 25 Refund or remission of duty for unused or unusable cheque forms Where the Commissioner is satisfied that a customer of a banker to whom the banker has supplied a cheque form in pursuance of an authority under this Division has returned the cheque form in an unused or unusable condition, the Commissioner shall: (a) if tax has been paid in respect of the cheque form by the banker—refund the amount of tax so paid; and (b) if tax has not been so paid—remit the amount of tax payable in respect of the cheque form. #### 26 Recovery of tax by banker A banker who pays or is liable to pay as tax an amount in respect of a cheque form supplied by him to a customer may recover from the customer an amount equal to the tax paid or payable. ### Division 3—Other bills of exchange and promissory notes #### 27 How duty denoted The payment of stamp duty on a bill of exchange or promissory note shall be denoted by adhesive stamp. #### 28 Drawer of bill or note to cause it to be duly stamped The drawer of a bill of exchange drawn in the Territory and the maker of a promissory note made in the Territory, being a bill of exchange or promissory note that is liable to stamp duty, shall, forthwith upon the drawing of the bill of exchange or making of the promissory note, cause it to be duly stamped. #### 29 Negotiating etc. unstamped bill or note (1) A person shall not, in the Territory, negotiate, present for payment or pay a bill of exchange or promissory note liable to stamp duty that is not duly stamped. Penalty: $500. (2) It is a defence to a prosecution for an offence against subsection (1) if the defendant proves that, at the time of the alleged offence, he had reasonable grounds for believing that the bill of exchange or promissory note was duly stamped or was not liable to stamp duty. (3) Where a bill of exchange or promissory note that is liable to duty but is not duly stamped comes into the hands of the drawee or a holder of the bill of exchange or promissory note in the Territory, the drawee or holder may cause it to be duly stamped. (4) A person who, in accordance with subsection (3), causes a bill of exchange or promissory note payable on demand or at sight that is presented to him for payment to be duly stamped may charge the amount of stamp duty in account against the drawer of the bill of exchange or maker of the promissory note or deduct the amount of stamp duty from the amount paid by him under the bill of exchange or promissory note. ### Division 4—Hire‑purchase Agreements included in Business Returns #### 30 Register of Hire‑purchase Owners For the purposes of this Division, the Commissioner shall keep a register to be called Register of Hire‑purchase Owners. #### 31 Registration (1) A person may apply to the Commissioner in writing in accordance with an approved form for registration in the Register kept under this Division. (2) The Commissioner may, upon application under subsection (1), register an applicant by entering his name in the Register kept under this Division. (3) The Commissioner shall give notice of the registration by instrument served on the owner. (4) The Commissioner shall revoke the registration of a person under this Division by removing his name from the Register upon receiving notification of that person’s death or bankruptcy, or in the case of a company, of the winding‑up of the company, or upon receiving a request to revoke the registration from that person. #### 32 Returns by registered hire‑purchase owners (1) A registered owner shall, within 21 days after the expiration of each month of each year: (a) furnish to the Commissioner a return relating to hire‑purchase agreements in respect of which tax is imposed that have been entered into by him as registered owner during that month; and (b) pay the tax payable in respect of those hire‑purchase agreements. (1A) This section does not apply in relation to a month commencing on or after the termination day. (2) A return under this section shall be in accordance with an approved form and shall contain such particulars as are required by the form. #### 33 Registered owner not required to affix duty stamps (1) A registered owner shall endorse each hire‑purchase agreement particulars of which are required to be shown in a return under section 32 with a notation in writing to the effect that he is registered under this Division. Penalty: $500. (2) A registered owner is not required to denote by adhesive stamp or impressed stamp the payment of tax in respect of hire‑purchase agreements entered into by him as registered owner. #### 34 Owner may recover tax from hirer A registered owner under a hire‑purchase agreement may add to an amount payable by or on behalf of the hirer under the agreement, whether payable under the agreement or otherwise, an amount designated as the tax imposed in respect of the agreement and equal to the amount of the tax and may recover the amount designated as the tax from the hirer. ### Division 5—Other hire‑purchase agreements #### 35 Application This Division applies to and in relation to a hire‑purchase agreement on which stamp duty is imposed that is entered into in the Territory by an owner who is not a registered owner. #### 36 Duty to be paid by owner The owner under a hire‑purchase agreement in relation to which this Division applies shall cause the agreement to be duly stamped forthwith upon the execution of the agreement by both parties, or if the agreement is made by communication to the owner of the acceptance of an offer, forthwith upon the acceptance coming to his knowledge. #### 37 How duty denoted Stamp duty imposed on a hire‑purchase agreement in relation to which this Division applies shall be denoted by adhesive stamp. #### 38 Owner may recover stamp duty from hirer An owner under a hire‑purchase agreement to which this Division applies may add to an amount payable by or on behalf of the hirer under the agreement an amount designated as the stamp duty imposed on the agreement and equal to the amount of the stamp duty and may recover the amount designated as the stamp duty from the hirer. ### Division 6—Insurance business #### 38A Interpretation In this Division: > insurance does not include life insurance. > premium means a premium in respect of insurance. #### 39 Insurer in the Territory to be registered (1) An insurer who carries on in the Territory the business of insurance in respect of which tax is imposed without being registered under this Division is, in respect of each day on which the insurer so carries on such business of insurance (including the day of a conviction of an offence against this section or any subsequent day), guilty of an offence punishable on conviction by a fine not exceeding $50. (1A) An offence under subsection (1) is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code. (2) Nothing in this section affects the liability (including a contingent liability) of an insurer under a policy of insurance issued by the insurer in the course of carrying on the business of insurance in the Territory in contravention of this section. #### 40 Register of Insurers For the purpose of this Division, the Commissioner shall keep a register to be called Register of Insurers. #### 41 Registration (1) An insurer carrying on or intending to carry on in the Territory the business of insurance in respect of which tax is imposed may apply to the Commissioner in writing in accordance with an approved form for registration in the Register kept under this Division. (2) The Commissioner shall, upon receiving an application from an insurer under subsection (1), register the insurer by entering the name of the insurer in the Register. (3) The Commissioner shall give notice of the registration by instrument served on the insurer. (4) The Commissioner shall revoke the registration of an insurer under this Division by removing his name from the Register upon receiving notification of the death or bankruptcy of the insurer, or in the case of a company, of the winding‑up of the company, or upon receiving a request from the insurer to revoke the registration. #### 42 Returns in respect of insurance business (1) An insurer registered under this Division shall, within 21 days after the expiration of each month of each year: (a) furnish to the Commissioner a return of all premiums received in that month by the insurer in respect of which tax is imposed; and (b) pay the tax payable in respect of those premiums less the amount of any tax remitted under section 43. (1A) This section does not apply in relation to a month commencing on or after the termination day. (2) A return under this section shall be in accordance with an approved form and shall contain such particulars as are required by the form. #### 43 Refund or remission of tax for surrendered or cancelled insurance Where the Commissioner is satisfied that: (a) a policy of insurance in respect of which tax is imposed has been surrendered or cancelled before the expiration of the term of the insurance expressed in the policy; and (b) the insurer has refunded to the person by whom premiums were payable under the policy an amount equal to the amount of the premiums received by the insurer in respect of a period occurring after the surrender or cancellation; the Commissioner shall: (c) if the insurer has not paid the tax in respect of that amount of premiums—remit the tax payable; and (d) if the insurer has paid the tax payable in respect of that amount of premiums—refund to the insurer the amount of the tax so paid. #### 44 Insurer may recover tax from person paying premiums An insurer may, by an instrument served on the person by whom premiums are payable under a policy of insurance in respect of which tax is imposed, require that person to pay to the insurer as a separate debt an amount designated as the tax and equal to the amount of the tax, and the insurer may recover the amount designated as the tax from that person. ### Division 6A—Life insurance business #### 44A Interpretation In this Division, premium means a premium in respect of life insurance. #### 44B Insurer in the Territory to be registered (1) An insurer who carries on in the Territory the business of life insurance in respect of which tax is imposed without being registered under this Division is, in respect of each day on which the insurer so carries on such business of life insurance (including the day of a conviction of an offence against this section or any subsequent day), guilty of an offence punishable on conviction by a fine not exceeding $50. (1A) An offence under subsection (1) is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code. (2) Nothing in this section affects the liability (including a contingent liability) of an insurer under a policy of life insurance issued by the insurer in the course of carrying on the business of life insurance in the Territory in contravention of this section. #### 44C Register of life insurers For the purpose of this Division, the Commissioner shall keep a register to be called Register of Life Insurers. #### 44D Registration (1) An insurer carrying on or intending to carry on in the Territory the business of life insurance in respect of which tax is imposed may apply to the Commissioner in writing in accordance with an approved form for registration in the Register kept under this Division. (2) The Commissioner shall, upon receiving an application from an insurer under subsection (1), register the insurer by entering the name of the insurer in the Register. (3) The Commissioner shall give notice of the registration by instrument served on the insurer. (4) The Commissioner shall revoke the registration of an insurer under this Division by removing his name from the Register upon receiving notification of the winding‑up of the insurer, or upon receiving a request from the insurer to revoke the registration. #### 44E Returns in respect of life insurance business (1) An insurer registered under this Division shall, within 21 days after the end of each month of each year: (a) furnish to the Commissioner a return relating to all premiums received by him in the Territory in that month in respect of life insurance on which tax is imposed but unpaid; and (b) pay the tax payable in respect of that insurance. (1A) This section does not apply in relation to a month commencing on or after the termination day. (2) A return under this section shall be in accordance with an approved form and shall contain such particulars as are required by the form. #### 44F Insurer may recover tax from person paying premiums An insurer registered under this Division may, by an instrument served on the person by whom premiums are payable under a policy of life insurance in respect of which tax is imposed, require that person to pay to the insurer as a separate debt an amount designated as the tax and equal to the amount of the tax, and the insurer may recover the amount designated as the tax from that person. ### Division 7—Conveyances #### 45 Persons liable to pay duty (1) Duty imposed on a transfer of an estate in fee simple in land or of a Crown lease for a term exceeding 5 years, or an agreement for such a transfer, is payable by the transferee or the person to whom the estate in fee simple or the lease is to be transferred under the agreement, as the case may be. (2) Duty imposed on a lease is payable by the lessee. (3) Duty imposed on a transfer or assignment, or agreement for a transfer or assignment, of a lease other than a Crown lease for a term exceeding 5 years is payable by the transferee or assignee, or the person to whom the lease is to be transferred or assigned under the agreement, as the case may be. #### 46 How duty denoted Payment of duty on conveyances required to be lodged with the Commissioner under this Act shall be denoted by impressed stamp, and payment of duty on other conveyances shall be denoted by adhesive stamp. #### 47 Instrument of conveyance to be stamped or lodged for assessment (1) Within 30 days after the execution of a transfer of an estate in fee simple in land or of a Crown lease for a term exceeding 5 years, or of an agreement for such a transfer, being a transfer or agreement on which duty is imposed, the transferee or person to whom the estate or lease is to be so transferred shall lodge the instrument of transfer or the agreement with the Commissioner for assessment. (2) The lessee under a lease on which duty is imposed, being a lease: (a) the only consideration for which is by way of rent; (b) the total amount or value of the consideration for which does not exceed $1,500; and (c) that is for a term not exceeding 3 years; shall, forthwith on the execution of the lease, cause the lease to be duly stamped. (3) The lessee under a lease on which duty is imposed, being a lease: (a) for which the only consideration is by way of rent the total amount or value of which exceeds $1,500; (b) the consideration for which is not wholly by way of rent; or (c) that is for a term exceeding 3 years; shall, within 30 days after the execution of the lease, lodge the lease with the Commissioner for assessment. (4) Where the total amount or value of the consideration given in respect of the transfer or assignment of a lease on which duty is imposed exceeds $500, the transferee or assignee shall, within 30 days after the execution of the instrument of transfer or assignment, lodge the instrument with the Commissioner for assessment. (5) Where the total amount or value of the consideration agreed to be given in respect of the transfer or assignment of a lease under an agreement on which duty is imposed exceeds $500, the person to whom the lease is to be transferred or assigned under the agreement shall, within 30 days after the execution of the agreement, lodge the agreement with the Commissioner for assessment. (6) Where the total amount or value of the consideration given in respect of the transfer or assignment of a lease other than a Crown lease for a term exceeding 5 years, being a transfer or assignment on which duty is imposed, does not exceed $500, the transferee or assignee shall, forthwith on the execution of the instrument of transfer or assignment, cause the instrument to be duly stamped. (7) Where the total amount or value of the consideration agreed to be given in respect of an agreement for the transfer or assignment of a lease other than a Crown lease for a term exceeding 5 years, being an agreement on which duty is imposed, does not exceed $500, the person to whom the lease is to be transferred or assigned under the agreement shall, forthwith on the execution of the agreement, cause the agreement to be duly stamped. (8) Where an instrument is required pursuant to this section to be lodged with the Commissioner for assessment, the instrument shall not be taken to have been so lodged unless it is accompanied by such information or documents (if any) as the Commissioner requires in connection with the application of section 5A of the Australian Capital Territory Stamp Duty Act 1969. #### 48 Interpretation of term of lease A period specified in a lease as the period during which the lease is to continue shall be regarded as the term of the lease notwithstanding that the lease is expressed to be for a weekly, monthly, quarterly, half‑yearly or yearly tenancy or otherwise. #### 49 Increase in rent by instrument Where an instrument provides for an increase in the rent that has been reserved by a lease granted after the commencement of this Act (whether or not that lease is in writing), the instrument shall, for the purposes of this Act, be treated as a lease granted for a consideration equal to the amount of the additional rent provided by the instrument for the remaining term of the lease. #### 50 Refund of duty where early determination of lease (1) Where duty has been paid on a lease that has been granted for a term of not less than 2 years and the lease is determined before the expiration of that term, an amount equal to the amount of the difference between the amount of duty so paid and the amount of duty that would have been payable on the lease if the lease had been granted for a term expiring on the date of the determination of the lease shall, subject to this section, be refunded to the person who was the lessee immediately before the determination of the lease. (2) A refund under this section is not payable to a person unless he furnishes to the Commissioner, within 90 days after the determination of the lease, an application in accordance with an approved form together with such information as the Commissioner of Taxation requires to enable him to determine the amount of the refund. #### 50A Refund of duty where agreement not completed (1) Where: (a) on or after 14 October 1982, an amount of duty is paid by a person on an agreement, being an agreement: (i) for a transfer by a person (in this subsection referred to as the transferor) to another person (in this subsection referred to as the transferee) of an estate in fee simple in land situated in the Territory or of a lease of such land; or (ii) for an assignment by a person (in this subsection referred to as the assignor) to another person (in this subsection referred to as the assignee) of a lease of such land; (b) the agreement is void, is unenforceable (both at law and in equity), is rescinded, or comes to an end; and (c) the Commissioner is satisfied that no transfer or assignment has been, or may reasonably be expected to be, made in pursuance of the agreement; there shall, subject to this section, be refunded to the person by whom the amount of duty was paid: (d) in a case to which paragraph (e) does not apply—an amount equal to the amount of duty paid; or (e) if: (i) the transferee or assignee has gone into possession of the land; or (ii) another person has gone into possession of the land at the request of, or under an arrangement with, the transferee or assignee; and the agreement is rescinded or comes to an end—the amount (if any) by which the amount of duty paid exceeds the amount of duty that, in the opinion of the Commissioner, would have been payable on a lease of the land by the transferor to the transferee, or by the assignor to the assignee, as the case may be, for a term commencing on the earliest date on which the transferee or assignee, as the case may be, or a person of the kind referred to in subparagraph (ii), went into possession of the land, or, if that date is earlier than the date of the agreement, the date of the agreement, and ending on the date on which the agreement is rescinded or comes to an end, as the case may be. (1A) Where: (a) section 5A of the Australian Capital Territory Stamp Duty Act 1969 is applied, in relation to an agreement (in this subsection referred to as the chattels agreement) for the transfer or hiring of, or the granting or assignment of rights to use, chattels, in calculating the amount of duty on an instrument; (b) an amount of the duty has been paid by a person and is not required to be refunded under subsection (1) of this section; (c) the chattels agreement is void, is unenforceable (both at law and in equity), is rescinded or comes to an end; and (d) the Commissioner is satisfied that no transfer or hiring of, or granting or assignment of rights to use, chattels has been, or may reasonably be expected to be, made pursuant to the chattels agreement; there shall, subject to this section, be refunded to the person by whom the amount of the duty was paid so much of that duty as, in the opinion of the Commissioner, is attributable to the application of section 5A of the Australian Capital Territory Stamp Duty Act 1969. (2) Where: (a) as a result of a person or persons doing an act or omitting to do an act, a refund under this section would, but for this subsection, be payable to a person; and (b) the person or any of those persons did the act, or omitted to do the act, as the case requires, in connection with a scheme to avoid or reduce duty; the refund is not payable. (3) A refund under this section is not payable to a person in relation to an agreement unless the person furnishes to the Commissioner: (a) where the agreement is void or unenforceable—within 12 months after the person became aware of that fact; or (b) where the agreement is rescinded, or comes to an end, on a particular date—within 12 months after that date; an application in accordance with an approved form, together with such information as the Commissioner requires to enable him to determine the amount of the refund. (4) Where: (a) a refund under subsection (1) is paid to a person in relation to an agreement by reason that no transfer or assignment has been, or may reasonably be expected to be, made in pursuance of the agreement; and (b) a transfer or assignment is made at any time in pursuance of the agreement; then: (c) notwithstanding subsection 17(5), the agreement shall not be treated, for the purposes of this Act, as the original of the transfer or assignment, as the case may be; and (d) for the purposes of subsection 17(6): (i) the amount of duty paid on the agreement shall be deemed not to have been paid; and (ii) the agreement shall be deemed not to be duly stamped. (5) A reference in subsection (1) to going into possession of land includes a reference to receiving any of the rents and profits of the land. (6) In this section: > agreement includes an instrument purporting to be an agreement. > arrangement means any agreement, arrangement or understanding, whether formal or informal, whether express or implied and whether or not enforceable, or intended to be enforceable, by legal proceedings. > person, in relation to an agreement, means any person, whether or not the person is a party to the agreement. #### 50AA Refund or remission of duty where Crown lease surrendered (1) Where: (a) an amount of duty has been paid on an instrument, being a Crown lease; (b) the lease is surrendered or determined; and (c) the whole or a part (which whole or part is in this subsection referred to as the lease refund) of the amount (in this subsection referred to as the lease consideration) paid for or in respect of the grant of the lease is refunded under section 37A of the City Area Leases Ordinance 1936 of the Australian Capital Territory; the Commissioner shall refund to the person by whom the amount of duty was paid an amount calculated in accordance with the formula where: > A is the amount of duty; > B is the amount that would have been the amount of the lease refund if no deduction had been made for administrative expenses; and > C is the amount of the lease consideration. (2) A person is not entitled to a refund under subsection (1) unless the person gives to the Commissioner, within 12 months after the lease refund referred to in subsection (1) is made, an application in accordance with an approved form, together with such information as the Commissioner requires to enable the Commissioner to determine the amount of the refund. (3) Duty that is payable by a person on an instrument but has not been paid shall be remitted in the same circumstances as those in which it would be refunded under this section if it had been paid. #### 50B Refund of duty where land transferred by way of mortgage is re‑transferred (1) Subject to subsection (2), where: (a) duty has been paid on a transfer, or an agreement for a transfer, by which an estate or interest in land is or is to be transmitted under the Real Property Ordinance by way of mortgage; (b) in the case of an agreement for a transfer—the estate or interest has been transferred pursuant to the agreement; (c) the estate or interest has been: (i) re‑transferred to the mortgagor; or (ii) transferred to a person (in this section referred to as the mortgagor’s successor) to whom the equity of redemption has been transmitted consequent on the death, bankruptcy or insolvency of the mortgagor; and (d) the mortgagor or the mortgagor’s successor, as the case may be, becomes the registered proprietor, within the meaning of the Real Property Ordinance, of the estate or interest; the Commissioner shall refund to the person by whom the duty was paid an amount equal to the difference between the amount of duty so paid and the amount of duty that would have been payable on that transfer, or agreement for a transfer, if it had been a loan security. (2) A person is not entitled to a refund under subsection (1) unless the person gives to the Commissioner, within 12 months after the mortgagor or the mortgagor’s successor becomes the registered proprietor as mentioned in paragraph (1)(d), an application in accordance with an approved form, together with such information as the Commissioner requires to enable the Commissioner to determine the amount of the refund. (3) Nothing in this section shall be taken as derogating from the operation of subsection 51(1) of the Real Property Ordinance. ### Division 8—Transfers of marketable securities included in brokers’ returns #### 51 Record of transfers (1) A broker who carries on business in the Territory shall, forthwith after each sale or purchase by him of a marketable security in respect of which tax is imposed, make a record of particulars of the sale or purchase showing: (a) the date of the sale or purchase; (b) the name of the person for whom he was acting; (c) the name of the broker (if any) acting for the person with whom the sale or purchase was made; (d) the full description of the marketable security; (e) the selling price of the marketable security; and (f) if tax is payable, the amount of the tax. (2) Where marketable securities are sold or purchased in a parcel, a broker shall, in the record made under this section, show the quantity of the marketable securities in the parcel and the selling price per unit and in total of the marketable securities in the parcel. (3) A broker shall retain the record of a sale or purchase of a marketable security for a period of not less than 3 years after the date of the sale or purchase. Penalty: $2,000. #### 52 Broker’s statement on transfer (1) Where a broker makes a sale or purchase of a marketable security in respect of which tax is imposed or in respect of which an exemption from tax is provided by an Act with which this Act is incorporated for a consideration of not less than the unencumbered value of the marketable security, the broker shall make a statement in respect of the sale or purchase, as the case may be, on the instrument of transfer to which the sale or purchase relates to the effect that stamp duty, if payable, has been or will be paid, and shall set out the date of the statement and impress a stamp expressed to be the stamp of the broker on the instrument of transfer. (1A) Subsection (1) does not apply in respect of a sale or purchase of a marketable security occurring on or after the changeover day. (2) A broker shall not make a statement under subsection (1) on an instrument of transfer of a marketable security in respect of which tax is imposed before recording particulars of the sale or purchase under section 51. (3) A person shall not impress a stamp resembling or purporting to be a stamp of a broker on an instrument of transfer of a marketable security. (4) This section does not apply to the impressing of a stamp on or after the day that is the termination day for the tax imposed by the Australian Capital Territory Tax (Purchases of Marketable Securities) Act 1969. Penalty: $10,000. #### 53 Return by brokers (1) A broker carrying on business in the Territory shall, within 14 days after the expiration of each month of each year: (a) furnish to the Commissioner a return showing particulars of sales and purchases of marketable securities in respect of which tax is imposed that have been made by him during that month or, if no such sales or purchases have been made in that month, making a statement to that effect; and (b) pay the tax payable in respect of each such sale and purchase. (1A) This section does not apply in relation to a month commencing on or after the day that is the termination day for the tax imposed by the Australian Capital Territory Tax (Purchases of Marketable Securities) Act 1969. (2) A return under this section shall be in accordance with an approved form. #### 54 Broker may recover tax A broker who pays or is liable to pay tax under section 53 in respect of a sale or purchase of a marketable security may recover from the vendor or purchaser, as the case may be, for whom he has made the sale or purchase an amount designated as the tax and equal to the amount of tax. #### 55 Certain transfers deemed to have been made through a broker (1) A broker who makes a sale or purchase of a marketable security in accordance with an order from a person (not being a broker or a person acting for or on behalf of a broker) given to an agent or employee of the broker who carries on business on behalf of the broker in the Territory shall be deemed to have made a sale or purchase of that marketable security in accordance with an order to sell or purchase, as the case may be, given to the broker in the Territory. (2) For the purposes of this Act: (a) where a broker carrying on business in the Territory: (i) makes a sale in the Territory of a marketable security on his own account or behalf to a person who is not a broker or is not acting for or on behalf of a broker; or (ii) makes a sale of a marketable security to such a person in accordance with an order to sell given to him in the Territory; the broker shall, notwithstanding that no order to purchase was given to him, be deemed to have also made a purchase of that marketable security in accordance with an order to purchase given to him in the Territory by the person to whom he had made the sale; and (b) where a broker carrying on business in the Territory: (i) makes a purchase in the Territory of a marketable security on his own account or behalf from a person who is not a broker or is not acting for or on behalf of a broker; or (ii) makes a purchase of a marketable security from such a person in accordance with an order to purchase given to him in the Territory; the broker shall, notwithstanding that no order to sell was given to him, be deemed to have also made a sale of that marketable security in accordance with an order to sell given to him in the Territory by the person from whom he made the purchase. ### Division 9—Transfers of marketable securities liable to duty #### 56 When transfers are to be duly stamped (1) The transferee under a transfer of a marketable security on which stamp duty is imposed, being a marketable security listed for quotation in the official list of an Australian Stock Exchange or a prescribed stock exchange (whether within or outside Australia), shall cause the instrument of transfer to be duly stamped: (a) where it is executed by or on behalf of the transferee in the Territory—within 30 days after the instrument is so executed; and (b) where it is executed by or on behalf of the transferee outside the Territory—within 30 days after it is first received in the Territory after the instrument is so executed. (2) The transferee under a transfer of any other marketable security on which stamp duty is imposed shall lodge the instrument of transfer with the Commissioner for assessment: (a) where it is executed by or on behalf of the transferee in the Territory—within 30 days after the instrument is so executed; and (b) where it is executed by or on behalf of the transferee outside the Territory—within 30 days after it is first received in the Territory after the instrument is so executed. #### 57 Duty payable by transferee Stamp duty imposed on an instrument of transfer of a marketable security is payable by the transferee. #### 58 How duty denoted (1) The payment of stamp duty imposed on an instrument of transfer referred to in subsection 56(1) shall be denoted by adhesive stamp or by impressed stamp. (2) The payment of stamp duty imposed on an instrument of transfer of any other marketable security shall be denoted by impressed stamp. #### 58AA Partition of marketable securities Before assessing the duty (if any) to be paid on a transfer executed to give effect to a partition or division of a parcel of marketable securities, the Commissioner shall deduct from the unencumbered value of the marketable securities transferred to the transferee the unencumbered value of the beneficial interest held by the transferee before the transfer in the marketable securities included in that parcel. ### Division 9A—Transfers of marketable securities registered in registers outside the territory #### 58AB Liability to pay tax Tax imposed on the registration by a company of a transfer of a marketable security: (a) is payable by the company; and (b) is due and payable on the twenty‑first day of the month next following the month in which the transfer is registered. #### 58AC Returns by companies A company that is liable to pay tax on the registration, during a month, of the transfer of a marketable security, or on the registrations, during a month, of the transfers of 2 or more marketable securities, shall, on or before the day on which the tax becomes due and payable, furnish to the Commissioner a return in accordance with an approved form showing particulars of the transfer or of each of the transfers, as the case may be. #### 58AD Credits in respect of non‑Territory stamp duty paid in respect of transfers (1) Subject to this section, where tax is, or but for this subsection, would be, payable by a company on the registration of a transfer of a marketable security, the company is entitled to a credit of tax in respect of the tax payable on the registration of an amount equal to the amount of stamp duty or any similar tax paid or payable on, or in respect of, the transfer under a law of the place in which was kept the register in which the marketable security was registered immediately before the date on which the instrument of transfer was executed. (2) Where a credit of tax is allowable in respect of the tax payable on the registration of a transfer of a marketable security, that credit shall not exceed the amount of tax that, before the allowance of that credit, is payable on the registration. (3) A credit under this section is not allowable to a company in respect of the registration of a transfer of a marketable security unless the company gives to the Commissioner, within 12 months after the time when the tax in respect of which the credit is claimed became due and payable, an application in accordance with an approved form, together with such information as the Commissioner requires to enable the Commissioner to determine the amount of the credit. (4) Where a credit is allowable to a company under this section in respect of the registration of a transfer of a marketable security: (a) if the whole or any part of the tax payable on the registration is unpaid—the Commissioner shall apply the credit against that tax; (b) if the company is subject to any other liability to the Commonwealth, being a liability arising under, or by virtue of, an Act of which the Commissioner has the general administration—the Commissioner may apply so much of the credit as has not been applied under paragraph (a) against that liability; and (c) the Commissioner shall refund so much (if any) of the credit as has not been applied under paragraph (a) or (b). #### 58AE Company may recover tax from transferee A company that pays or is liable to pay tax on the registration of a transfer of a marketable security may recover from the transferee an amount designated as the tax and equal to the amount of the tax payable less the amount of any credit of tax to which the company is entitled under section 58AD. #### 58AF Partition of marketable securities In calculating the amount of tax (if any) payable on the registration of a transfer of a marketable security executed to give effect to a partition or division of a parcel of marketable securities, there shall be deducted from the unencumbered value of the marketable securities transferred to the transferee the unencumbered value of the beneficial interest held by the transferee before the transfer in the marketable securities included in that parcel. ### Division 10—Vehicle registration #### 58A Interpretation In this Division, Taxing Act means the Australian Capital Territory Tax (Vehicle Registration) Act 1981. #### 58B Payment of tax Tax in respect of the registration of a vehicle is payable by the person in whose name the vehicle is registered, and is due and payable at the time of registration. #### 58C Registration of vehicles (1) Notwithstanding anything in the Motor Traffic Ordinance, the Registrar shall not register a vehicle unless: (a) he is satisfied that the registration is exempt from tax by virtue of subsection 6(1) of the Taxing Act, otherwise than by virtue of an application of section 7 of that Act; (aa) the Registrar is satisfied that the registration is exempt from tax under section 3A of the Taxing Act; (b) the application for the registration is accompanied by a certificate or certificates issued under section 58D in respect of the vehicle to the person or persons in whose name or names the registration is made, and the registration is not made in the name of any other person; (c) the registration is solely in the name of a person who certifies, in accordance with an approved form, that: (i) he is carrying on a business in respect of which he is a licensed dealer under the Sale of Motor Vehicles Ordinance 1977 of the Australian Capital Territory; and (ii) the vehicle is held by him as trading stock for resale in the course of carrying on that business; (ca) the registration is solely in the name of a person who certifies, in accordance with an approved form, that: (i) he is carrying on a business in respect of which he is licensed or registered by or under a law that is prescribed for the purposes of paragraph 6(2)(f) of the Taxing Act; and (ii) the vehicle is held by him as trading stock for resale in the course of carrying on that business; or (d) the applicant for the registration tenders the amount of tax payable in respect of the registration, and the application for the registration is accompanied by a statement by the applicant, in accordance with an approved form, of: (i) the amount that, to the best of his knowledge and belief, is or will be the market value of the vehicle as at the time when the application is made; and (ii) such other information as is required by the form. (2) For the purposes of the application of subsection (1) in relation to the registration of a vehicle, but for no other purpose, the market value of the vehicle shall be taken to be the amount stated under paragraph (1)(d) in relation to that registration. (3) A person claiming exemption of the registration of a vehicle from tax by virtue of subsection 6(1) of the Taxing Act shall furnish to the Registrar such information as the Registrar requires. #### 58D Certificates of exemption from tax (1) If, upon application, the Commissioner is satisfied that the registration of a vehicle in the name of a person will be exempt from tax by virtue of a provision of subsection 6(2) (other than paragraph (e) or (f)) of the Taxing Act, or of section 7 or 8 of that Act, he may issue a certificate to that effect. (2) A person making application under subsection (1) shall furnish such information as the Commissioner requires. #### 58E Information to be supplied to Commissioner As soon as practicable after the end of each month of each year, the Registrar shall furnish to the Commissioner particulars of all certificates given, statements made and information furnished for the purposes of section 58C during that month. #### 58F Refund of tax incorrectly paid (1) Where, on application made within 3 years after the registration of a vehicle in respect of which an amount of tax has been paid, the Commissioner is satisfied: (a) in the case of a registration made before the day on which the Australian Capital Territory Tax (Vehicle Registration) Amendment Act 1982 received the Royal Assent—that the registration was exempt from tax by virtue of section 7 or 8 of the Taxing Act; (b) in the case of a registration in relation to which regulations made for the purposes of paragraph 6(2)(f) of the Taxing Act apply, being a registration made before the making of those regulations—that the registration would have been exempt from tax by virtue of that paragraph if those regulations had been in force at the time when application was made for the registration; or (c) that the whole or a part of that amount should not have been paid; that amount, or that part of that amount, as the case may be, shall be refunded. (2) Subsection (1) does not apply in relation to tax paid in accordance with an assessment other than an assessment made in pursuance of paragraph 68(1)(a). (2A) Paragraph (1)(c) does not apply in circumstances to which paragraph 68(1)(a) applies. (2B) Where: (a) paragraph (1)(a) or (b) applies to the registration of a vehicle, being a registration in respect of which an amount of tax has been paid; and (b) by reason of subsection 68(3), the whole or a part of that amount has been refunded or is required to be refunded; the amount that, but for this subsection, would be required by subsection (1) to be refunded shall be reduced by the amount refunded or required to be refunded under subsection 68(3). (3) A person making application under subsection (1) shall furnish such information as the Commissioner requires. ### Division 11—Registration of transfers of marketable securities by companies and unit trusts #### 58G Registration of transfers of marketable securities (1) A transfer of a marketable security shall not be registered in the books of the company or unit trust to which the marketable security relates unless: (a) the instrument of transfer: (i) bears a statement in respect of the sale or purchase to which the transaction relates, made in accordance with section 52 of this Act or in accordance with a provision of a law of a State or another Territory relating to stamp duty, to the effect that stamp duty, if payable, has been or will be paid; (ii) has been duly stamped for the purposes of this Act or of a law of a State or another Territory relating to stamp duty; or (iii) bears a stamp affixed or impressed under section 17 of this Act or under a provision of a law of a State or another Territory relating to stamp duty to the effect that no tax or stamp duty is payable; (b) tax is imposed by the Australian Capital Territory Tax (Transfers of Marketable Securities) Act 1986 on the registration of the transfer; or (c) tax would, but for subsection 6(1) of that Act, be imposed by that Act on the registration of the transfer. (2) This section does not apply to a transfer of a marketable security where the transfer is effected by an instrument of transfer that appears to have been executed by the transferor, or by any of the transferors, on or after the changeover day (including an instrument that appears to have been executed by the transferee or by any of the transferees, before the changeover day). ### Division 12—Loan securities #### 58H Interpretation In this Division: > duly stamped means duly stamped in relation to duty payable by virtue of this Division. > duty means duty payable by virtue of this Division. > mortgage means a security by way of mortgage or charge: (a) for the payment of a definite and certain sum of money advanced or lent at the time or previously due or owing, or forborne to be paid, being payable; or (b) for the repayment of money to be thereafter lent, advanced, or paid, or which may become due upon an account current together with a sum already advanced or due, or without, as the case may be; and, without limiting the generality of the foregoing, includes: (c) a security by way of mortgage or charge given in consideration of the conveyance or transfer of an estate or interest in any real or personal property; (d) a transfer or conveyance of any estate or interest in any real or personal property in trust to be sold or otherwise converted into money: (i) intended only as a security; and (ii) redeemable before the sale or other disposal of the estate or interest, either by express stipulation or otherwise; except where the transfer or conveyance is made for the benefit of creditors generally, or for the benefit of creditors specified, who accept the provision made for payment of their debts in full satisfaction of those debts; (e) any defeasance, declaration, or other instrument for defeating or making redeemable or explaining or qualifying a conveyance, transfer, assignment or disposition of any estate or interest in real or personal property, apparently absolute but intended only as a security; (f) any agreement, contract or covenant (being an agreement, contract or covenant relating to documents of title or accompanied with the deposit of any documents of title or instruments creating a charge on real or personal property) for making a mortgage or any such other security, transfer or conveyance of any estate or interest in real or personal property comprised in those documents, or for pledging or charging that property as a security; and (g) any instrument of mortgage (including an instrument of mortgage referred to in paragraph (c), (d), (e) or (f)) for the purpose of securing the repayment of corporate debentures or any instrument of trust protecting the interests of the holders of corporate debentures; but does not include a conveyance by which an estate or interest in land is or is to be transmitted under the Real Property Ordinance by way of mortgage. #### 58J Persons liable to pay duty Duty imposed on: (a) a loan security; or (b) an instrument of the kind referred to in subsection 58M(1) or 58R(2); is payable by the borrower. #### 58K When loan securities are to be duly stamped Except as otherwise provided by this Division, where a loan security on which duty is imposed is executed, the borrower shall: (a) in a case where the amount payable or repayable under or secured by the loan security exceeds $15,000 or, if that amount is not fixed, where the maximum amount that is or may become payable or repayable under or that is secured by the loan security exceeds $15,000—lodge the instrument of loan security with the Commissioner for assessment within 30 days after the instrument is executed; or (b) in any other case—cause the instrument of loan security to be duly stamped forthwith on the execution of the loan security. #### 58L How duty denoted (1) The payment of duty imposed on an instrument required to be lodged with the Commissioner pursuant to this Division shall be denoted by impressed stamp. (2) The payment of duty imposed on an instrument of loan security to which subsection (1) does not apply shall be denoted by adhesive stamp. #### 58M Duty where amount secured is increased, is not a definite sum etc. (1) Where: (a) the total amount secured or to be ultimately recoverable by or under a loan security connected with the Territory is expressed in the loan security to be limited to a definite and certain sum of money (whether or not that total amount may be increased pursuant to the loan security); (b) that total amount is increased pursuant to an instrument (whether or not the loan security); and (c) in a case where that total amount is increased pursuant to an instrument other than the loan security—the loan security was executed on or after the date of commencement of this section; that instrument: (d) is liable to duty (if any) equal to the difference between: (i) the duty that would be payable if the instrument were a loan security connected with the Territory executed by the borrower in respect of the sum of the amounts payable or repayable under or secured by the first‑mentioned loan security and the amount of that increase and any previous increases; and (ii) the sum of: (A) the duty paid on the first‑mentioned loan security; and (B) any duty that has become payable by virtue of another application of this subsection in relation to an instrument relating to the first‑mentioned loan security and has been paid; and (e) within 30 days after that increase is made, shall be lodged by the borrower with the Commissioner for assessment. (2) Where: (a) a loan security is for the payment or repayment of money to be lent, advanced, or paid, or which may become due upon an account current either with or without money previously due; and (b) the total amount secured or to be ultimately recoverable is expressed in the loan security to be limited to a definite and certain sum of money; the loan security shall be deemed, for the purposes of this Act, to be a loan security for the payment or repayment of the amount so expressed. (3) Where the total amount secured or to be ultimately recoverable by or under a loan security connected with the Territory is not expressed in the loan security to be limited to a definite and certain sum of money, the loan security: (a) is liable to duty equal to the duty that would be payable on the loan security if it were a loan security for the payment or repayment of $15,000; and (b) within 30 days after it is executed, shall be lodged by the borrower with the Commissioner for assessment. (4) Where: (a) the total amount secured or to be ultimately recoverable by or under a loan security connected with the Territory is not expressed in the loan security to be limited to a definite and certain sum of money; and (b) the loan security is enforced in relation to an amount greater than $15,000; the loan security: (c) is liable to duty (if any) equal to the difference between the duty that would be payable on the loan security if it were a loan security for the payment or repayment of that greater amount and the duty previously paid in respect of the loan security; and (d) within 30 days after it is enforced, shall be lodged by the borrower with the Commissioner for assessment. (5) Where: (a) the total amount secured or to be ultimately recoverable by or under a loan security connected with the Territory is not expressed in the loan security to be limited to a definite and certain sum of money; and (b) an advance is made and the sum of that advance and any previous advances exceeds the amount in respect of which duty has been paid on the loan security; the loan security: (c) is liable to duty (if any) equal to the difference between: (i) the duty that would be payable on the loan security if it were a loan security in respect of the sum of: (A) the amount in respect of which duty has been paid on the loan security; and (B) the amount of the advance; and (ii) the duty previously paid on the loan security; and (d) within 30 days after the advance is made, shall be lodged by the borrower with the Commissioner for assessment. (6) This section does not apply to an increase or advance that is made, or an enforcement that occurs, on or after the termination day. #### 58N Loan securities for repayment by periodical payments etc. A loan security for the payment of any rent charge, annuity or periodical payments, by way of repayment or in satisfaction or discharge of any loan, advance or payment intended to be so repaid, satisfied or discharged, shall be deemed, for the purposes of this Act, to be a loan security for the payment of the sum of money so lent, advanced or paid. #### 58P Collateral securities (1) Subject to subsection (2), a loan security that is a collateral security for the same money as is secured by a primary loan security is not liable to duty. (2) A loan security connected with the Territory that is a collateral security for the same money as is secured by a primary loan security connected with the Territory: (a) is liable to duty (if any) equal to the duty that would be payable on the collateral security if it were the primary loan security and the primary loan security had been executed when the collateral security was executed; and (b) within 30 days after it is executed, shall be lodged by the borrower with the Commissioner for assessment; unless the primary loan security or any other collateral security for the same money as is secured by the primary loan security has been duly stamped. (2A) Subsection (2) does not apply if the collateral security is executed on or after the termination day. (3) In this section, collateral security includes any additional or substituted security and any legal mortgage executed pursuant to an agreement, contract or covenant referred to in paragraph (f) of the definition of mortgage in section 58H. #### 58Q Subsequent mortgages (1) Subject to subsection (2), where a subsequent mortgage connected with the Territory contains a covenant that: (a) confers upon the mortgagee a right, whether absolute or contingent, to pay to a prior mortgagee the amount owing under a prior mortgage; and (b) provides that any payment so made will be directly secured by the subsequent mortgage; the amount of duty payable on the subsequent mortgage shall be determined without regard to the provisions of the covenant. (2) Where a payment is made under a covenant referred to in subsection (1), the subsequent mortgage: (a) is liable to duty equal to the duty (if any) that would be payable on the subsequent mortgage if it were a loan security for the repayment of the amount of the payment; and (b) within 30 days after the payment is made, shall be lodged by the borrower with the Commissioner for assessment. (3) This section does not apply to a payment made on or after the termination day. #### 58R Duty on subscriptions under instruments which secure debentures (1) Where: (a) a body corporate is or will be under a liability to repay any money received or to be received by it in respect of corporate debentures of the body corporate; and (b) there is an instrument of trust relating to the debentures to which the body corporate is a party; the body corporate may, by notice in accordance with an approved form given to the Commissioner, elect that this section apply in relation to those corporate debentures and, where such an election is made, the instrument of trust, any mortgage executed by the body corporate protecting the interests of the holders of the debentures and any such debentures shall be deemed to be duly stamped. (2) Where an election relating to corporate debentures of a body corporate has been made by the body corporate under subsection (1), the body corporate shall, within 21 days after the end of each month of each year, lodge with the Commissioner for assessment an instrument, in accordance with an approved form, setting out: (a) 5% of the total of amounts subscribed in respect of such of the corporate debentures as were issued during that month and are connected with the Territory, being amounts repayable at or after the expiration of a period of not less than 30 days and not more than 3 months; (b) 50% of the total of amounts subscribed in respect of such of the corporate debentures as were issued during that month and are connected with the Territory, being amounts repayable at or after the expiration of a period of more than 3 months but not more than 6 months; and (c) the total of all other amounts subscribed in respect of such of the corporate debentures as were issued during that month and are connected with the Territory, not being amounts repayable at call or in less than 30 days. (2A) Subsection (2) does not apply in respect of any month commencing on or after the termination day. (3) An instrument lodged under subsection (2) is liable to duty (if any) equal to the duty that would be payable if the instrument were a loan security connected with the Territory for the repayment of the sum of the amounts specified in the instrument. (4) For the purposes of this section, amounts repayable at call after a specified period shall be deemed to be amounts repayable at the end of that period. (5) A reference in this section to an amount subscribed in respect of corporate debentures includes a reference to an amount represented by corporate debentures issued upon the conversion or renewal of an existing holding of corporate debentures or other marketable securities. #### 58S Debentures not liable to duty if mortgage duly stamped Where: (a) the repayment of any corporate debentures is secured on a mortgage referred to in paragraph (g) of the definition of mortgage in section 58H, not being an instrument of trust, and the amount secured is not less than the amount repayable in respect of those debentures; or (b) the interests of the holders of any corporate debentures to which a mortgage so referred to, being an instrument of trust, relates are protected by the mortgage to an extent not less than the amount repayable in respect of the debentures; and the mortgage is duly stamped, the debentures shall be deemed to be duly stamped. #### 58T Credits in respect of non‑Territory stamp duty paid on loan securities (1) Subject to this section, where: (a) a loan security subjects property to a security; (b) the whole or a part of the property is situated in a State, in the Northern Territory or in an external Territory; and (c) duty is, or but for this subsection, would be, payable in respect of the loan security; the person liable to pay the duty is entitled to a credit of duty in respect of the duty payable on the loan security of an amount equal to the amount of stamp duty paid or payable on the loan security under a law of the State, the Northern Territory or the external Territory, as the case may be. (2) Where a credit of duty is allowable in respect of the duty payable on a loan security, that credit shall not exceed the amount of duty that, before the allowance of that credit, is payable on the loan security. (3) A credit under this section is not allowable to a person in respect of a loan security unless the person gives to the Commissioner, within 12 months after the time when the duty in respect of which the credit is claimed became due and payable, an application in accordance with an approved form, together with such information as the Commissioner requires to enable the Commissioner to determine the amount of the credit. (4) Where a credit is allowable to a person under this section in respect of a loan security: (a) if the whole or any part of the duty payable on the loan security is unpaid—the Commissioner shall apply the credit against that duty; (b) if the person is subject to any other liability to the Commonwealth, being a liability arising under, or by virtue of, an Act of which the Commissioner has the general administration—the Commissioner may apply so much of the credit as has not been applied under paragraph (a) against that liability; and (c) the Commissioner shall refund so much (if any) of the credit as has not been applied under paragraph (a) or (b). (5) Where: (a) but for this subsection, an instrument of the kind referred to in subsection 58M(1) would not be a loan security; and (b) the instrument relates to a loan security that subjects property to a security, the instrument shall be deemed, for the purposes of this section, to be a loan security and to subject that property to a security. #### 58U Stamping and lodgment of duplicate instruments etc. (1) Where an original instrument on which duty is payable is lodged with a public office at which registration is effected, the original instrument shall be taken to have been duly stamped or to have been lodged with the Commissioner for assessment, as the case may be, if a duplicate or copy of the original instrument is duly stamped or is lodged with the Commissioner for assessment. (2) If, at the time when a requirement arises under this Division for a person, within a specified period, to lodge an instrument with the Commissioner for assessment: (a) the instrument is in the possession of the Commissioner, or of a court, pursuant to section 67; or (b) the instrument is the subject of a previous such requirement; the first‑mentioned requirement to lodge the instrument may be satisfied only by lodging with the Commissioner, within the specified period, a duplicate or copy of the instrument. (3) Where an instrument is required pursuant to this Division to be lodged with the Commissioner for assessment, the instrument shall not be taken to have been so lodged unless it is accompanied by such information (if any) as the Commissioner requires to enable the Commissioner to assess the amount of duty payable on the instrument. ## Part IV—Assessments #### 59 Assessment of returns (1) The Commissioner shall, from a return and any other information in his possession, make an assessment of the amount of tax payable in respect of the return. (2) A return purporting to be made and signed by or on behalf of a person shall, unless the contrary is proved, be deemed to have been made and signed by him or with his authority. (3) A trustee of a deceased person shall furnish such returns as the deceased person, if he were still living, would be required by this Act to furnish. (4) The furnishing of a return for assessment does not relieve the person liable to pay tax in respect of the return of the liability to pay the tax as provided by this Act. (5) Where, by reason of an assessment of a return, a person has overpaid tax, the amount of tax overpaid shall be refunded. #### 60 Lodging of instruments for assessment (1) A person liable to pay duty on an instrument that is not required by this Act to be lodged for assessment of duty may, within 30 days after the date of execution of the instrument by him, lodge the instrument with the Commissioner for assessment of duty. (2) The lodging of an instrument for assessment of duty does not relieve a person liable to pay duty on the instrument of his liability to pay the duty in accordance with this Act and to cause the instrument to be duly stamped. #### 61 Information for the purpose of making assessment (1) The Commissioner may, at any time, by instrument served on a person who has: (a) furnished a return or lodged an instrument for assessment: (b) given a certificate, made a statement or furnished information for the purposes of section 58C; or (c) furnished information for the purposes of section 58D or 58F; require that person to furnish, within a specified period, further information by statutory declaration or otherwise in connection with the return, instrument, certificate, statement or information. (2) Where the Commissioner has reason to believe, for the purpose of the assessment or amendment of an assessment or enquiring into or ascertaining the liability of a person under this Act, that a person is capable of giving information or producing documents that may be used for that purpose, the Commissioner may, by instrument served on that person, require that person: (a) to furnish to him in writing, within the period and in the manner specified in the instrument, any such information; (b) to attend before him or a person specified in the instrument at such time and place as is specified and there to answer questions for that purpose; or (c) to produce to him or to a person specified in the instrument, in accordance with the instrument, any such document. (3) The Commissioner or person before whom a person is required to attend under subsection (2) may take evidence on oath or affirmation and, for that purpose, may administer an oath or affirmation to the person attending. #### 64 Incriminating information etc. A person is not excused from furnishing information or producing a document in compliance with an instrument served on him under section 61 or in compliance with an order of a court under subsection 8G(1) of the Taxation Administration Act 1953, being an order made in relation to this Act or the regulations, on the ground that the information or document might tend to incriminate him, but his answer to any question asked in the order or instrument or any information furnished by him in pursuance of the order or instrument is not admissible in evidence against him in criminal proceedings other than proceedings for a taxation offence within the meaning of Part III the Taxation Administration Act 1953 that relates to this Act or regulations. #### 66 Assessment of duty on instruments (1) Where an instrument is lodged with the Commissioner for assessment: (a) if he adjudges that duty on the instrument is not payable—he may put an impressed stamp on the instrument as provided by subsection 17(2); or (b) if he adjudges that duty is payable—he shall assess the amount of the duty. (2) The Commissioner shall inform the person lodging the instrument of his assessment under subsection (1), but is not required to give notice in writing of the assessment to that person unless so requested in writing by that person within 30 days after the lodging of the instrument. (3) If an instrument lodged for assessment has been returned before a request for notice in writing of the assessment, the Commissioner may refuse to give the notice in writing unless the person requesting the notice in writing re‑lodges the instrument with him. (4) Where, by reason of an assessment of an instrument in respect of which an amount has been paid as duty, a person has overpaid duty, the amount of duty overpaid shall be refunded. #### 67 Retaining and impounding of instruments (1) Where the Commissioner has reason to believe that an instrument liable to duty has not been duly stamped, or has not been lodged for assessment as required by this Act, a person authorized by the Commissioner may seize the instrument. (2) The Commissioner may retain possession of an instrument lodged for assessment of duty, or seized under subsection (1), until his assessment and any duty assessed by him and any additional amount payable by way of penalty in respect of that instrument under this Act has been paid. (3) Notwithstanding subsection (2), the Commissioner shall, on being required to do so by subpoena, summons or order of a court, produce the instrument or cause it to be produced to the court for as long as it is required in proceedings in the court. (4) This Act applies to an instrument that has been seized under this section as though it had been lodged with the Commissioner for assessment. #### 68 Default assessments (1) Where: (a) a person has made a statement for the purposes of paragraph 58C(1)(d) in which the amount stated as the market value of the vehicle concerned is more or less than the amount that, in the opinion of the Commissioner, was the market value of the vehicle as at the time when the application for registration of the vehicle was made; or (b) the Commissioner is of the opinion that a person is liable to pay duty or tax (whether or not any return or information has been furnished or any instrument has been lodged for assessment); the Commissioner may make an assessment of the amount of duty or tax that, in his opinion, is payable and, in a case to which paragraph (a) applies, he may for that purpose determine the market value of the vehicle concerned as at the time when the application for registration of the vehicle was made. (2) An assessment shall not be made in pursuance of paragraph (1)(a) in relation to the registration of a vehicle after the expiration of 3 years after the registration unless the statement referred to in that paragraph was false or misleading in a material particular. (3) Where, by reason of an assessment made in pursuance of paragraph (1)(a), a person has overpaid tax, the amount of tax overpaid shall be refunded. #### 69 Notice of default assessment As soon as practicable after an assessment is made in pursuance of section 68 under which duty or tax is assessed to be payable, the Commissioner shall cause notice in writing of the assessment and the amount of duty or tax payable in accordance with the assessment, together with the amount, if any, of duty or tax underpaid or overpaid, to be given to the person who is adjudged by him to be the person liable to pay the duty or tax. #### 70 Penalty for failure to furnish return etc. (1) Where a person refuses or fails, when and as required under or pursuant to this Act or the regulations to do so: (a) to furnish a return, or any information, relating to a matter or thing: (b) to lodge an instrument for assessment; or (c) to cause an instrument to be duly stamped; the person is liable to pay, by way of penalty, an additional amount equal to double the amount of duty or tax payable by the person in respect of the matter, thing or instrument, as the case may be. (2) Where: (a) a person: (i) makes a statement to a taxation officer, or to a person other than a taxation officer for a purpose in connection with the operation of this Act or the regulations, that is false or misleading in a material particular; or (ii) omits from a statement made to a taxation officer, or to a person other than a taxation officer for a purpose in connection with the operation of this Act or the regulations, any matter or thing about which the statement is misleading in a material particular; and (b) the duty or tax properly payable by the person exceeds the duty or tax that would have been payable by the person if it were assessed or determined on the basis that the statement were not false or misleading, as the case may be; the person is liable to pay, by way of penalty, an additional amount equal to double the amount of the excess. (3) Where, but for this subsection, an additional amount, being an amount less than $20, is payable by a person under this section in respect of an act or omission, then, by force of this subsection, the amount of the additional amount shall be taken to be $20. (4) The Commissioner shall make an assessment of the additional amount payable by a person under this section, and shall, as soon as practicable after the assessment is made, cause notice in writing of the assessment to be given to the person. (5) Nothing in this Act shall be taken to preclude notice of an assessment made in respect of a person under subsection (4) from being incorporated in notice of any other assessment made in respect of the person under this Act. (6) The Commissioner may, in the Commissioner’s discretion, remit the whole or any part of an additional amount payable by a person under this section, but, for the purposes of the application of subsection 33(1) of the Acts Interpretation Act 1901 to the power of remission conferred by this subsection, nothing in this Act shall be taken to preclude the exercise of the power at a time before an assessment is made under subsection (4) of the additional amount. (7) A reference in subsection (2) to a statement made to a taxation officer is a reference to a statement made to a taxation officer orally, in writing, in a data processing device or in any other form and, without limiting the generality of the foregoing, includes a statement: (a) made in an application, certificate, declaration, notification, objection, return or other document made, given or furnished, or purporting to be made, given or furnished, under or pursuant to this Act or the regulations; (b) made in an instrument lodged for assessment under or pursuant to this Act or the regulations; (c) made in answer to a question asked of a person under or pursuant to this Act or the regulations; (d) made in any information furnished, or purporting to be furnished, under or pursuant to this Act or the regulations; or (e) made in a document furnished to a taxation officer otherwise than under or pursuant to this Act or the regulations; but does not include a statement made in a document produced pursuant to paragraph 61(2)(c). (8) A reference in subsection (2) to a statement made to a person other than a taxation officer for a purpose in connection with the operation of this Act or the regulations is a reference to such a statement made orally, in writing, in a data processing device or in any other form and, without limiting the generality of the foregoing, includes such a statement: (a) made in an application, certificate, declaration, notification or other document made, given or furnished to the person; (b) made in answer to a question asked by the person; or (c) made in any information furnished to the person. (9) In this section: > data processing device means any article or material from which information is capable of being reproduced with or without the aid of any other article or device. > taxation officer means a person exercising powers, or performing functions under, pursuant to or in relation to this Act or the regulations. #### 71 Amendment of assessments (1) The Commissioner may, at any time within a period of 3 years after the date of an assessment by him of duty or tax, amend the assessment by making such alterations or additions to it as he thinks necessary. (2) Subsection (1) does not prevent the amendment of an assessment after the expiration of the period referred to in that subsection in order to give effect to a decision on an appeal or review under Part V, or the amendment of an assessment after the expiration of that period by way of reduction on an objection under that Part or pending such an appeal or review. (3) Where, by reason of an amendment of an assessment, a person’s liability to duty or tax is reduced, the amount by which the duty or tax is so reduced shall be taken, for the purposes of section 81, never to have been payable. (4) As soon as practicable after the amendment of an assessment under this section, the Commissioner shall cause notice in writing of the amended assessment and the amount of duty or tax payable in accordance with the amended assessment, together with the amount of any duty or tax underpaid or overpaid, to be given to the person who is adjudged by him to be the person liable to pay the duty or tax. (5) In this section, duty or tax includes an additional amount payable under section 70. (6) In subsection (4), unless the contrary intention appears, duty or tax also includes an additional amount payable under section 81. #### 72 Assessments in relation to deceased persons (1) The Commissioner has the same powers of assessment of duty or tax in relation to a trustee of a deceased person as he would have had in relation to that person if he were still living. (2) In subsection (1), duty or tax includes an additional amount payable under section 70. #### 73 Validity of assessments The validity of an assessment is not affected by reason that a provision of this Act has not been complied with. ## Part V—Reviews and appeals #### 73A Interpretation In this Part, prescribed decision means: (a) a decision by the Commissioner to refuse to issue a certificate under section 58D to a person; or (b) a decision by the Registrar that the registration of a vehicle is not exempt from tax. #### 74 Objections to assessments and decisions (1) A person who is aggrieved by an assessment made in relation to him may, within 60 days after the date of the assessment, lodge with the Commissioner an objection in writing to the assessment. (1A) A person who is aggrieved by a prescribed decision made in relation to the registration of a vehicle in his name may, within 60 days after the decision is made, lodge with the Commissioner an objection in writing to the decision. (2) An objector shall, in an objection to an assessment or decision, state fully and in detail the grounds on which he relies. (3) The Commissioner shall consider the objection, and may either disallow it, or allow it, either wholly or in part. (4) The Commissioner shall cause notice in writing of his decision on an objection to be served on the objector. (5) Where an assessment has been amended in any particular, the right of a person to object against the amended assessment is limited to a right to object against alterations or additions in respect of, or matters relating to, that particular. (6) Where a notice of assessment of duty or tax incorporates notice of one or more assessments of additional duty or additional tax, the assessments shall, for the purposes of this Part, be regarded as one assessment. #### 75 Request for reference A person who is dissatisfied with a decision under section 74 on an objection by the person may, within 60 days after service on the person of notice of the decision, lodge with the Commissioner a request in writing to refer the decision to the Tribunal. #### 76 Applications for extension of time (1) Where the period for the lodgment by a person of an objection against a prescribed decision or an assessment has ended, the person may, notwithstanding that the period has ended, send the objection to the Commissioner together with an application in writing requesting the Commissioner to treat the objection as having been duly lodged. (2) Where the period for the lodgment by a person of a request under section 75 has ended, the person may, notwithstanding that the period has ended, send the request to the Commissioner together with an application in writing asking that the request be treated as having been duly lodged. (3) An application under subsection (1) or (2) shall state fully and in detail the circumstances concerning, and the reasons for, the failure by the person to lodge the objection or request as required by this Act. #### 76A Consideration of applications for extension of time for lodging objections (1) The Commissioner shall consider each application made under subsection 76(1) and may grant or refuse the application. (2) The Commissioner shall give to the person who made the application notice in writing of the decision on the application. (3) A person who is dissatisfied with a decision under subsection (1) in respect of an application made by the person may apply to the Tribunal for review of the decision. (4) Where an application under subsection 76(1) has been granted, the person who made the application shall, for the purposes of this Part, be treated as having duly lodged the objection to which the application relates. #### 76B Consideration of applications for extension of time for lodging requests for reference (1) Where the Commissioner receives an application under subsection 76(2), the Commissioner shall, as soon as practicable, send the application to the Tribunal. (2) The sending of an application to the Tribunal under subsection (1) shall, for the purposes of the Administrative Appeals Tribunal Act 1975, be deemed to constitute the making by the person concerned of an application to the Tribunal to extend the time within which the request may be lodged with the Commissioner. (3) The Tribunal may grant or refuse the application. (4) Where an application under subsection 76(2) has been granted, the person who made it shall, for the purposes of this Part, be treated as having duly lodged the request to which the application relates. #### 76C Reference to Tribunal (1) Where a person duly lodges, or is to be treated as having duly lodged, a request under section 75, the Commissioner shall comply with the request. (2) The referral of a decision on an objection to the Tribunal shall, for the purposes of the Administrative Appeals Tribunal Act 1975, be deemed to constitute the making by the person of an application to the Tribunal for review of the decision. #### 76D Notice to refer (1) Subject to subsections (2) and (3), if, within 60 days after receiving a request under section 75 in relation to a decision on an objection, the Commissioner does not comply with the request, the person who made the request may give notice in writing to the Commissioner requiring the Commissioner to do so and the Commissioner shall, within 60 days after receiving the notice, comply with the request. (2) Where an application under section 76 in relation to a request has been granted, the person who made the request is not entitled to give notice under subsection (1) in relation to the request before the expiration of 60 days after the day on which the application was granted. (3) If, within 60 days after receiving a request under section 75 in relation to a decision on an objection or, in a case to which subsection (2) of this section applies, within 60 days after an application under section 76 in relation to a request has been granted, the Commissioner, by notice in writing served on the person who made the request, requires the person to give information relating to the objection, the Commissioner is not required to comply with the request until the expiration of 60 days after the receipt by the Commissioner of that information. #### 76E Procedure on review In proceedings under this Part on a review before the Tribunal: (a) the person who requested the review is, unless the Tribunal otherwise orders, limited to the grounds stated in the objection; and (b) the burden of proving that a prescribed decision is incorrect, or that an assessment is excessive, lies on the person who requested the review. #### 76F Implementation of decisions (1) When a decision of the Tribunal under this Part becomes final, the Commissioner shall, not later than 60 days after that decision becomes final, take such action, including amending the assessment, if any, concerned, as may be necessary to give effect to the decision. (2) In determining, for the purposes of subsection (1), when a decision of the Tribunal becomes final, if an appeal has been made to the Full Court of the Federal Court of Australia in relation to that decision but no application for special leave to appeal to the High Court in relation to that decision is made within 30 days after the determination of the first‑mentioned appeal, the decision of the Federal Court of Australia shall be taken to have become final on the expiration of that period. #### 77 Pending appeal or reference not to affect assessment etc. (1) The fact that a review or appeal is pending in relation to a prescribed decision or an assessment does not in the meantime interfere with, or affect, the decision or assessment and duty or tax may be recovered as if no review or appeal were pending. (2) In subsection (1), duty or tax includes an additional amount payable under section 70 or 81. #### 78 Adjustments of duty or tax after appeal (3) If a prescribed decision is varied or set aside on an objection or to give effect to a decision of the Tribunal or of a court, the Commissioner shall cause notice in writing of that fact to be given to the person who requested review of the prescribed decision. (4) If, by reason of: (b) the variation, or the setting aside, of a prescribed decision on an objection or to give effect to a decision of the Tribunal or of a court; a person’s liability to duty or tax is reduced, the amount by which the duty or tax is so reduced shall be taken, for the purposes of section 81, never to have been payable. (5) Unless the contrary intention appears, a reference in this section to duty or tax includes a reference to an additional amount payable under section 70 or 81. #### 79 Evidence of assessments In proceedings under this Act: (a) the production of an instrument under the hand of the Commissioner purporting to be a copy of a notice of assessment is evidence of the due making of the assessment; and (b) the production of a document certified by instrument under his hand as a copy of, or extract from, a return or notice of assessment is evidence of the matter set out in the document to the same extent as the original return or notice would be if it were produced. ## Part VI—Recovery of duty and tax #### 80 Recovery of duty or tax Duty or tax is, upon becoming due and payable under this Act, a debt due to the Commonwealth and recoverable in a court of competent jurisdiction. #### 80A Vehicle registration tax may be recovered by Registrar Except as otherwise directed by the Commissioner, the recovery of unpaid tax in respect of the registration of a vehicle or an amount referred to in section 82 relating to such tax is the responsibility of the Registrar. #### 81 Penalty for unpaid duty or tax (1) If any duty or tax remains unpaid after the time when it became due and payable or would, but for subsection 9(2) or (3), have become due and payable, an additional amount is due and payable by way of penalty by the person liable to pay the duty or tax at the rate of 20% per annum on the amount unpaid, computed from that time or, where the Commissioner has, under subsection 9(2), extended the time for payment of the duty or tax for a period or has, under subsection 9(3), permitted the payment of the duty or tax to be made by instalments, from such date as the Commissioner determines, not being a date prior to the date on which the duty or tax was originally due and payable. (2) Where an additional amount is payable by a person under this section in relation to an amount of duty or tax and: (a) the Commissioner is satisfied that: (i) the circumstances that contributed to the delay in payment of the duty or tax were not due to, or caused directly or indirectly by, an act or omission of the person; and (ii) the person has taken reasonable action to mitigate, or mitigate the effects of, those circumstances; (b) the Commissioner is satisfied that: (i) the circumstances that contributed to the delay in payment of the duty or tax were due to, or caused directly or indirectly by, an act or omission of the person; (ii) the person has taken reasonable action to mitigate, or mitigate the effects of, those circumstances; and (iii) having regard to the nature of those circumstances, it would be fair and reasonable to remit the additional amount or part of the additional amount; or (c) the Commissioner is satisfied that there are special circumstances by reason of which it would be fair and reasonable to remit the additional amount or part of the additional amount; the Commissioner may remit the additional amount or part of the additional amount. (3) Where judgment is given by, or entered in, a court for the payment of: (a) an amount of duty or tax; or (b) an amount that includes an amount of duty or tax; then: (c) the duty or tax shall not be taken, for the purposes of subsection (1), to have ceased to be due and payable by reason only of the giving or entering of the judgment; and (d) if the judgment debt carries interest, the additional amount that would, but for this paragraph, be payable under this section in relation to the duty or tax shall, by force of this paragraph, be reduced by: (i) in a case to which paragraph (a) applies—the amount of the interest; or (ii) in a case to which paragraph (b) applies—an amount that bears the same proportion to the amount of the interest as the amount of the duty or tax bears to the amount of the judgment debt. (4) A reference in this section to duty or tax includes a reference to an additional amount payable under section 70. #### 82 Recovery of additional penalty (1) An additional amount payable by way of penalty under section 70 or 81 is a debt due to the Commonwealth and is recoverable in the same way as duty or tax. #### 83 Recovery of duty or tax from trustees of deceased persons (1) The Commissioner or the Registrar has the same powers and remedies for the recovery of duty or tax from a trustee of a deceased person as he would have had against that person if he were still living. (2) A trustee of a deceased person is subject to any additional amount payable under section 70 or 81 to the same extent as the deceased person would be if he were still living. (3) In subsection (1), duty or tax includes an additional amount payable under section 70 or 81. #### 84 Collection of duty or tax from person indebted to person liable to duty or tax (1) A person indebted, either alone or jointly with another person, to a person liable to duty or tax shall, when required by the Commissioner by instrument served on the person indebted, pay to the Commissioner the amount of the debt owing or accruing to the person so liable or so much of it as is sufficient to pay that duty or tax. (2) A person who fails to comply with an instrument under this section is guilty of an offence punishable on conviction by a fine not exceeding $1,000. (2AA) An offence under subsection (2) is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code. (2A) Where a person (in this subsection referred to as the convicted person) is convicted before a court of an offence against subsection (2) in relation to the refusal or failure of the convicted person or another person to comply with an instrument under this section, the court may, in addition to imposing a penalty on the convicted person, order the convicted person to pay to the Commissioner an amount not exceeding the amount that the convicted person or the other person, as the case may be, refused or failed to pay to the Commissioner in accordance with the notice. (3) The Commissioner shall, in an instrument under this section, specify the time within which the debt owing or accruing shall be paid, not being a time before the debt becomes due. (4) The Commissioner may, in an instrument under this section, specify an amount to be paid out of each payment of the debt as it becomes due from time to time to the person liable to duty or tax until the amount of duty or tax is paid. (5) The Commissioner shall cause an instrument under this section to be served on the person indebted and a copy of the instrument to be served on the person liable to pay the duty or tax. (6) An instrument to be served under this section on the Commonwealth or a State may be served upon a person employed by the Commonwealth or by that State, as the case may be, who, by or under a law of the Commonwealth or of that State, is charged with a duty of disbursing public moneys, and an instrument so served shall be deemed, for the purposes of this section, to have been served on the Commonwealth or that State, as the case may be. (7) A payment in pursuance of an instrument served under this section shall be deemed to have been made with the authority of the person liable to duty or tax and of all other persons served with the instrument or copy of the instrument. (7A) Where: (a) money has been paid by a person to a building society in respect of the issue of shares in the capital of the society (not being shares listed for quotation on a Stock Exchange); and (b) the money has not been repaid; the money shall, for the purposes of this section, be taken: (c) in a case where the money is repayable on demand—to be due by the building society to the person; or (d) in any other case—to be money that may become due by the building society to the person. (7B) Where, but for this subsection, money is not due, or repayable on demand, to a person unless a condition is fulfilled, the money shall be taken, for the purposes of this section, to be due or repayable on demand, as the case may be, to the person notwithstanding that the condition has not been fulfilled. (8) In this section: > building society means a society registered or incorporated as a building society, co‑operative housing society or other similar society under the law in force in a State. > debt, in relation to a person liable to duty or tax, means: (a) money that is due or accruing, or that may become due, to that person; (b) money that is held or is subsequently held for or on account of that person, or for or on account of another person for payment to that person; or (c) money authorized by another person to be paid to that person. > duty or tax includes: (a) an additional amount payable under section 70 or 81; (b) a judgment debt or costs in respect of: (i) duty or tax; or (ii) an additional amount payable under section 70 or 81; (c) any fine or costs imposed by a court in respect of: (i) an offence against this Act or the regulations; or (ii) any other taxation offence within the meaning of Part III of the Taxation Administration Act 1953 that relates to this Act or the regulations; and (d) any amount ordered by a court, upon the conviction of a person for an offence of a kind referred to in paragraph (c), to be paid by the person to the Commissioner. > person indebted, in relation to a person liable to duty or tax, means a person, a company, a partnership, the Commonwealth or a State or an authority or institution constituted by or under a law of the Commonwealth or a State, by whom or which a debt is owing or accruing to the person liable to duty or tax. > State includes a Territory. #### 85 Person in receipt etc. of money for non‑resident (1) A person resident in Australia who has authority to receive, control or dispose of money belonging to a non‑resident who is liable to duty or tax shall, when required to do so by the Commissioner by instrument served on the person resident in Australia, pay that duty or tax. (2) When so required by the Commissioner, the person resident in Australia is, by force of this section: (a) authorized and required to retain from time to time any money that comes to him on behalf of the non‑resident or so much of it as is sufficient to pay the duty or tax payable by the non‑resident; (b) made personally liable for that duty or tax after it becomes due and payable to the extent of any amount that he is required to retain under paragraph (a); and (c) indemnified for all payments that he makes in pursuance of this Act. (3) For the purposes of this section, a person who is liable to pay money to a non‑resident shall be deemed to be a person who has the control of money belonging to the non‑resident, and all moneys due by him to the non‑resident shall be deemed to be money that comes to him on behalf of the non‑resident. (4) In this section, duty or tax includes an additional amount payable under section 70 or 81. #### 86 Evidence (1) In proceedings for the recovery of duty or tax: (a) the production of an instrument under the hand of the Commissioner purporting to be a copy of a notice of assessment is evidence of the due making of the assessment and that the amount and particulars of the assessment are correct; (b) the production of an instrument under his hand purporting to be a copy of an instrument issued or given by him under this Act is evidence that the instrument was so issued or given; and (c) the production of a document certified by instrument under his hand as a copy of, or extract from, a return or notice of assessment is evidence of the matter set out in the document to the same extent as the original return or notice would be if it were produced. (2) In proceedings for the recovery of tax in respect of the registration of a vehicle, the production of an instrument under the hand of the Registrar purporting to contain particulars of the registration of that vehicle on a particular date is evidence of the registration of that vehicle on that date. (3) A reference in this section to duty or tax includes a reference to an additional amount payable under section 70 or 81. ## Part VIII—Miscellaneous #### 91 Extensions of time etc. Where a person is required by or under this Act to do an act or thing in respect of a specified period or within a specified time, the Commissioner may, by instrument served on that person: (a) allow a further period or extend the time for the doing of the act or thing, notwithstanding that the specified period has expired; or (b) vary the specified period in respect of which or the time within which that person is required to do that act or thing; and that person shall do that act or thing accordingly. #### 91A Refunds of duty or tax (1) Subject to section 92, where the Commissioner finds in any case that duty or tax has been overpaid by a person, the Commissioner shall: (a) refund the amount of any duty or tax overpaid; or (b) apply the amount of any duty or tax overpaid against any liability of the person to the Commonwealth, being a liability arising under, or by virtue of, an Act of which the Commissioner has the general administration, and refund any part of the amount not so applied. (2) In subsection (1), duty or tax includes an additional amount payable under section 70 or 81. #### 92 Refunds and remissions of duty or tax A refund or remission shall not be made of an amount of duty or tax under this Act to a person who has recovered it from another person and has not since repaid it to that other person. #### 94 Service of documents (1) A notice or other instrument that is required by this Act to be given or served on a person other than a company shall be given or served: (a) by delivering the notice or instrument to that person personally; (b) by prepaying and posting the notice or instrument as a letter addressed to that person at his last‑known place of residence or business or, if he is carrying on business at 2 or more places, at one of those places; (c) by leaving the notice or instrument at the last‑known place of residence of that person with some person apparently an inmate of that place and apparently not less than 16 years of age; or (d) by leaving the notice or instrument at the last‑known place of business of that person or, if he is carrying on business at 2 or more places, at one of those places with some person apparently in the service of that person and apparently not less than 16 years of age. (2) A notice or other instrument that is required by this Act to be given or served on a person, being a company, shall be given or served: (a) by prepaying and posting the notice or instrument as a letter to the company at its last‑known place of business or, if the company is carrying on business at 2 or more places, at one of those places; or (b) by leaving it at that place or at one of those places with some person apparently in the service of the company and apparently not less than 16 years of age. #### 95 Judicial notice For the purposes of this Act, all courts and tribunals and all judges and persons acting judicially or authorized by law to hear, receive and examine evidence shall take judicial notice of the signature of a person who holds or has held the office of Commissioner or Registrar. #### 96 Books, accounts etc. (1) For the purposes of this Act, a broker, or a person registered under Division 4 or 6 of Part III, shall: (a) keep books and accounts in the English language recording particulars of all matters in relation to which tax is imposed; (b) preserve those books and accounts for a period of 3 years after the completion of those matters; and (c) preserve any documents or papers relating to those matters, including copies of instruments, for a period of 3 years after the completion of those matters. Penalty: $2,000 (2) This section does not require the preservation by a person of books, accounts, documents, papers or copies of instruments: (a) in respect of which the Commissioner has notified the person that their preservation is not required; or (b) of a company that has been wound‑up. #### 97 Entry on land etc. (1) For the purposes of this Act, an officer authorized by the Commissioner to exercise powers under this section: (a) may, at all reasonable times, enter upon any land; (b) shall have full and free access at all reasonable times to all books, documents and other papers; and (c) may, for those purposes, take extracts from and make copies of any books, documents or papers. (2) An officer who enters upon land in pursuance of this section is not authorized to remain on the land if, on request by the occupier of the land, he does not produce a certificate in writing under the hand of the Commissioner certifying that he is an officer authorized to exercise the powers under this section. (3) The occupier of land entered or proposed to be entered by an officer under subsection (1) shall provide the officer with all reasonable facilities and assistance for the effective exercise of powers under this section. Penalty for a contravention of this subsection: $1,000. #### 98 Appearances by Commissioner and Registrar (1) In any proceedings under this Act in a court or the Tribunal, the Commissioner or the Registrar may appear either personally or by a barrister or solicitor, or by an officer appointed by him. (2) The appearance of such an officer, and the statement that he appears by authority of the Commissioner or the Registrar, as the case may be, are sufficient evidence of that authority. #### 99 Regulations The Governor‑General may make regulations, not inconsistent with this Act, prescribing all matters required or permitted by this Act to be prescribed, or necessary or convenient to be prescribed for carrying out or giving effect to this Act and, in particular: (a) providing for the payment of fees and expenses to witnesses required under this Act to attend and give evidence before the Commissioner or another person; (b) prescribing the fees or other payments to be charged in respect of registration, proceedings under this Act or otherwise for the purposes of this Act, and prescribing the manner in which those fees or payments shall be paid; (c) providing for the inspection of a register kept under this Act; and (d) prescribing penalties, not exceeding a fine of $500, for offences against the regulations.