South Australian Consolidated Acts South Australian Consolidated Acts6—Receipts to which this Act applies
(1) Except as
otherwise provided, this Act applies to—
(a) a
receipt of money in the State; and
(b) a
receipt of money outside the State in pursuance of a transaction of
which—
(i)
South Australian law is the proper law; or
(ii)
South Australian law would have been the proper law had
not the parties expressly or by implication determined upon the law of some
other place as the law to govern the transaction.
(2) Where a person
receives a consideration, other than money (whether or not in consideration of
having given credit to any person), in or towards settlement, satisfaction or
discharge of any debt or obligation owing to that person, the person will, on
receiving the consideration, be taken, for the purposes of this Act, to have
received an amount of money equal to the value of that consideration.
(3) For the purposes
of this Act, the crediting of an account of a person, including the crediting
of an account effected by means of an entry or record made by use of a machine
or device, will be taken to constitute a receipt of money by the person by
whom the account is kept.
(4) A reference to the
crediting of an account includes—
(a) the
depositing of money to the credit of the account by the person in whose name
the account is kept or by another person; and
(b)
without limiting the generality of paragraph (a), the transfer of money
to the credit of the account from another account of the person in whose name
the account is kept or from an account of another person; and
(c) the
transfer between ledgers or divisions in an account where different terms and
conditions apply in respect of those ledgers or divisions.
(5) Where a receipt
arises by virtue of the crediting of an account, the receipt will be regarded
as a receipt of money in the State if—
(a) the
account was established at an office or branch of a financial institution
situated in the State and has not been transferred to an office or branch
situated outside the State; or
(b) the
account was established at an office or branch of a financial institution
situated outside the State but has been transferred (and was last transferred)
to an office or branch situated in the State.
(6) Where—
(a) an
account kept by a financial institution is debited by the financial
institution with an amount that is to be invested, on the instructions of the
person on whose behalf the account is kept, with the financial institution;
and
(b)
there is no corresponding credit to an account that constitutes a dutiable
receipt for the purposes of this Act,
the amount so debited will be regarded as a receipt of money by the
financial institution.
(7) An entry made in
an account of a financial institution by that financial institution solely in
accordance with its internal accounting practices does not constitute a
dutiable receipt.
(8) Where a
financial institution provides cash to a person in exchange for a cheque, the
financial institution will not be regarded as having received money, except to
the extent that the value of the cheque exceeds the amount of the cash given
in exchange.
(9) Where a
financial institution provides a cheque to a person in exchange for cash, the
financial institution will not be regarded as having received money, except to
the extent that the amount of cash exceeds the value of the cheque given in
exchange.
(10) If a term deposit
constitutes a short term dealing and the amount involved in the dealing is
rolled over into a deposit or investment that does not constitute a short term
dealing, the rollover will be regarded as a receipt of money of the amount so
rolled over.