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Duties Act 2001 – 1 October 2016

Duties Regulation 2013 – 25 November 2016

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Transfer duty is imposed on certain transactions. Sections 9, 10, 34, 35 and the Dictionary Schedule (Schedule 6) effectively set out the transactions which are caught by this duty. The timing of when the duty is payable is set out in Schedule 2. Duty is liable to be paid by the parties to the transaction. Within 30 days of duty liability arising, the instrument, ELN (Electronic Lodgment Network) transfer document or transfer duty statement for the transaction, and an approved form for the transaction must be lodged by one party with the government. The amount of duty payable is set out in Schedule 3. A duty concession may be claimed for home and first home transactions by lodging an approved form.

  • Sections 3, 8, 9, 10, 11, 16, 17, 18, 19, 20, 24, 30, 34, 35, 85, 86, 86B, 90, 91, 92, 93, 93A, 115, 143, 144, 151, 156A, 156D, 424, 482, 495, 496, 499, 505, Schedule 2, Schedule 3, Schedule 4A, Schedule 4B, Schedule 6; Regulations 7, 10, Schedule 4 of the Regulation

Duty is not payable in relation to the distribution of a deceased estate.

  • Sections 124, 30

Duty is generally not payable in relation to the creation of a residential lease.

  • Section 146

Vehicle registration duty is payable on an application to transfer a vehicle. Both parties are liable to pay this duty at the time of making the application.

  • Sections 3, 377, 378, 379, 380, 381, 383, 388, 390, 395, 424, Schedule 4C, Schedule 6

Applications may be made to become a duty self-assessor. Self-assessors have an obligation to stamp instruments after making payment of duty to the government. Self-assessors generally have no lodgement obligation in relation to stamped instruments.

  • Sections 441, 447, 448, 454, 455, 455A, 456, 471D, 471E, 471J, 480, 488

An instrument or ELN transfer document not properly stamped generally cannot be used as evidence in court proceedings.

  • Sections 487, 491
Reason for law

N/A

Relevant links

Office of State Revenue

Media article

Public servants get free stamp duty to move to Canberra

Quotes from the Christian Bible
  • Romans 13:6: This is also why you pay taxes, for the authorities are God’s servants, who give their full time to governing. Give everyone what you owe him: If you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honor, then honor.
Critique

The newly created terms ‘farmor’ and ‘farmee’ seems to create additional legal jargon – see Schedule 6 dictionary.

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