67Liability to taxation

#### 67 Liability to taxation (1) Subject to subsections (1A) and (4), the Commission is not subject to taxation under the laws of the Commonwealth or of a State or Territory. (1A) Subsection (1) does not apply to a law of a State or Territory relating to pay‑roll tax. (2) Where the Treasurer so determines by notice published in the Gazette, stamp duty, or any similar tax, is not payable by the Commission or any other person under a law of the Commonwealth or of a State or Territory in respect of: (a) a security dealt with by the Commission; (b) the issue, redemption, transfer, sale, purchase, resale, acquisition or discounting of such security by the Commission or any other person, not including a transaction done without consideration or for an inadequate consideration; (c) any other transaction done for the purposes of a borrowing, or a raising of moneys otherwise than by borrowing, by the Commission; or (d) any other document executed by or on behalf of the Commission for the purposes of a borrowing, or a raising of moneys otherwise than by borrowing, by the Commission. (3) A determination may be made under subsection (2) in relation to: (a) a particular security, transaction or document; or (b) securities, transactions or documents included in a class of securities, transactions or documents, as the case may be. (4) Subject to subsection (2), the regulations may provide that subsection (1) does not apply in relation to a specified law of the Commonwealth or of a State or Territory or laws included in a class of laws of the Commonwealth or of a State or Territory. (5) If regulations made by virtue of subsection (4) provide that subsection (1) does not apply in relation to the laws of the Commonwealth that impose income tax, the Commission shall be deemed not to be a public authority for the purposes of paragraph 23(d) of the Income Tax Assessment Act 1936 or section 50‑25 of the Income Tax Assessment Act 1997. (6) If regulations made by virtue of subsection (4) provide that subsection (1) does not apply in relation to the laws of the Commonwealth that impose sales tax, the Commission shall be deemed not to be a public transport authority for the purposes of item 77 in the First Schedule to the Sales Tax (Exemptions and Classifications) Act 1935 or Item 64 in Schedule 1 to the Sales Tax (Exemptions and Classifications) Act 1992.