Australian Capital Territory Consolidated Acts

DUTIES ACT 1999 - SECT 91

    (1)     Duty of $20 is chargeable in respect of a chapter 3 transaction—

        (a)     in which the transferee is a hospital, school or charitable organisation or a trustee who is to hold the property transferred in trust for a hospital, school or charitable organisation; or

        (b)     made consequent on the death of a person if the transferor is the executor of the will of the deceased person, the administrator of the estate of the deceased person or a beneficiary of the will or estate of the deceased person; or

        (c)     made by operation of law on the bankruptcy of a person or the winding-up of a company.

    (2)     Duty of $20 is chargeable in respect of a chapter 3 transaction if the land that is the subject of the interest concerned could have been acquired by the person in a way that results in a liability to pay $20 duty under any of the following provisions:

        (a)     section 54 (Change in trustees);

        (b)     section 55 (Transfer to custodian of managed investment scheme);

        (c)     section 55A (Transfers in relation to managed investment schemes);

        (d)     section 55B (Transfers in relation to registered schemes);

        (e)     section 56 (Property vested in an apparent purchaser);

        (f)     section 57 (1) (Transfers back from a nominee), if the initial transfer from the transferor to the trustee was a chapter 3 transaction;

Note     The initial transfer is also chargeable with $20 duty (see s (3)).

        (g)     section 58 (Property passing to beneficiaries);

        (h)     section 62 (Transfer of property from one superannuation fund to another);

              (i)     section 63 (2) (b) (Transfers to trustees or custodians of superannuation funds or trusts).

    (3)     If duty of $20 has been paid under subsection (2) (f) for a chapter 3 transaction consisting of a transfer back from a trustee to a transferor—

        (a)     the initial transfer from the transferor to the trustee is chargeable with a duty of $20; and

        (b)     the commissioner must reassess the initial transfer and refund any duty paid in excess of $20 on application for a refund made within 5 years after the initial assessment, or 12 months after the transfer back to the transferor, whichever is later.

    (4)     Maximum duty of $200 is chargeable in respect of a chapter 3 transaction if the land that is the subject of the interest concerned could have been acquired by the person in a way that results in a liability to pay a maximum of $200 duty under section 63 (2) (a).