South Australian Consolidated Acts South Australian Consolidated Acts (1) In this Act,
unless it is otherwise provided or there is something in the context repugnant
thereto—
"approved form" means a form approved by the Commissioner;
"assessment" means an assessment or reassessment by the Commissioner under
Part 3 of the Taxation Administration Act 1996 ,
and "assess" and "assessed" have corresponding meanings;
"beneficial interest" means an equitable interest or an interest vested both
at law and in equity in the holder of the interest and includes a
potential beneficial interest;
"business of primary production" means the business of agriculture, pasturage,
horticulture, viticulture, apiculture, poultry farming, dairy farming,
forestry or any other business consisting of the cultivation of soils, the
gathering in of crops, the rearing of livestock or the propagation and
harvesting of fish or other aquatic organisms;
"Commissioner" means the person appointed or acting as the Commissioner of
State Taxation, and includes a person appointed or acting as a Deputy
Commissioner of State Taxation (see Part 9 of the Taxation Administration
Act 1996 );
"die" means die or other machine or implement used for impressing or
imprinting stamps upon documents;
"discretionary trust" means an arrangement, however made, under which a person
holds property, and the beneficial interest in all or any part of that
property may be vested in a person (in this Act referred to as an
"object" of the discretionary trust) on the exercise of a discretion, whether
subject to any other contingency or not and whether the exercise of the
discretion is obligatory or optional;
"domestic partner" means a person who is a domestic partner within the meaning
of the Family Relationships Act 1975 , whether declared as such under
that Act or not;
"duty" means duty charged under this Act, and includes penalty tax and
interest payable under Part 5 of the Taxation Administration Act 1996 in
relation to duty under this Act;
"executed" and "execution", with reference to instruments not under seal, mean
signed and signature;
"financial product" means—
(a) any
stock, share or other similar security of a corporation (including a
government, semi-government or municipal corporation), company or society; or
(b) any
debenture, debenture stock, bond, note or other similar security of a
corporation (including a government, semi-government or municipal
corporation), company or society (whether constituting a charge on the assets
of the corporation, company or society or not); or
(c) any
interest in a managed investment scheme registered under Chapter 5C of the
Corporations Act 2001 of the Commonwealth; or
(f) any
other stock, security or interest brought within the ambit of this definition
by the regulations,
and includes a right in respect of a financial product but does not include
any stock, security or interest excluded from the ambit of this definition by
the regulations;
"forge" includes counterfeit;
"GST" means the tax payable under the GST law;
"GST law" means—
(a)
A New Tax System (Goods and Services Tax) Act 1999 (Cwth); and
(b) the
related legislation of the Commonwealth dealing with the imposition of a tax
on the supply of goods and services;
"impressed stamp" means—
(a) a
stamp impressed or imprinted by means of a die; or
(b) a
record imprinted or made by means of any machine or implement,
under the direction of the Commissioner in pursuance of this Act;
"instrument" includes every written document;
"intellectual property" includes—
(a) a
registered patent, circuit layout, or design;
(b) a
right under the Plant Breeder's Rights Act 1994 (Cwth);
(c) a
trade mark;
(d) a
copyright;
"interest" in property means a legal or equitable interest and includes a
potential, contingent, expectant or inchoate interest;
"jurisdiction" means—
(a) a
State or Territory of Australia; or
(b) a
country or place subject to the laws of a particular legislative authority;
"material" means any sort of material upon which words or figures can be
expressed;
"money" includes all sums expressed in Australian or foreign currency;
"potential beneficial interest" means the rights, expectancies or
possibilities of an object of a discretionary trust in, or in relation to,
property subject to the discretionary trust;
"property" means real or personal property and includes—
(a)
intellectual property (except know-how and confidential information); and
"quoted", in relation to any shares, units in a unit trust scheme or interests
in such shares or units, includes—
(a)
shares, units or interests that have stopped being quoted on a
recognised financial market merely because they belong to a class of shares,
units or interests the quotation of which has been suspended, unless the body
that issued the shares, units or interests has ceased to be included in the
official list of the financial market; and
(b)
shares, units or interests that comprise a stapled security that is quoted on
a recognised financial market;
"recognised financial market" means—
(a) a
financial market operated by the Australian Stock Exchange Limited; or
(b) a
financial market of a stock exchange brought within the ambit of this
definition by the regulations;
"records" means records of any kind (whether in documentary or other form);
"rent" includes an amount (however it may be described in a lease) to be paid
by a lessee to a lessor to reimburse, offset or defray the lessor's liability
to GST;
"right in respect of a financial product" means a right, whether actual,
prospective or contingent, of any person to have issued to him or her a
financial product, whether or not on payment of any money or other
consideration for the financial product;
"sale" of property includes any transaction under which the property is
converted into money;
"spouse"—a person is the spouse of another if they are legally married;
"stamp" means an impressed stamp;
"stamped" means bearing an impressed stamp;
"State" includes the Australian Capital Territory and the Northern Territory;
"stock" means any share in the stocks or funds of any State or government, or
in the capital stock or funded debt of any company, corporation or society
(whether incorporated under a law of this or any other State, a law of the
Commonwealth, or a law of any other place);
"transfer", in relation to property, means transfer, assure or vest at law or
in equity (whether or not the transfer, assurance or vesting is subject to
registration, the issue of a certificate of title or some other similar
requirement);
"unit" in relation to a unit trust scheme means a right or interest (however
described) of a beneficiary under a unit trust scheme;
"unit trust scheme" means an arrangement made for the purpose, or having the
effect, of providing for persons having funds available for investment
facilities for the participation by them, as beneficiaries under a trust, in
any profits or income arising from the acquisition, holding, management or
disposal of any property subject to the trust;
"write", "written" and "writing" include every mode in which words or figures
can be expressed upon material.
(2) An interest of a
particular kind in the proceeds of the sale of property is, until the property
is sold, taken to be an interest of the same kind in the property.
Example—
A beneficial interest in the proceeds of the sale of property is, until the
property is sold, taken to be a beneficial interest in the property.
(3) A person is taken
to transfer a leasehold or other interest in land held from the Crown if the
person surrenders the interest so that the Crown may grant to a person other
than the surrenderor a leasehold or other interest in the land.