Tasmanian Numbered Acts

DUTIES ACT 2001 (NO. 15 OF 2001) - SECT 16

16. No double duty

      (1) If a dutiable transaction is effected by more than one instrument –

(a) one instrument is to be stamped with the duty payable on the dutiable transaction; and

(b) each other instrument is chargeable with duty of $20.

      (2) The duty chargeable in respect of a transfer of dutiable property made in conformity with an agreement for the sale or transfer of the dutiable property is $20 if the duty chargeable in respect of the agreement has been paid.

      (3) Notwithstanding subsections (1) and (2), if ad valorem duty was paid on a transfer made in conformity with an agreement for the sale of real property, duty is not payable on that agreement provided that duty was paid on the transfer within 3 months of the date of execution of the agreement.

      (4) The duty chargeable in respect of a transfer of dutiable property that is not made in conformity with an agreement for the sale or transfer of the dutiable property is $20 if –

(a) the duty chargeable in respect of the agreement has been paid; and

(b) the transfer would be in conformity with the agreement if the transferee was the purchaser under the agreement; and

(c) the transfer occurs at the same time as, or proximately with, the completion or settlement of the agreement; and

(d) at the time the agreement was entered into –

(i) the purchaser under the agreement and the transferee under the transfer were related persons, except as provided by subparagraph (ii); or

(ii) if the purchaser purchased as a trustee, the transferee and the beneficiary were related persons.

      (5) The duty chargeable in respect of a transfer of dutiable property that is not made in conformity with an agreement for the sale or transfer of the dutiable property is $20 if –

(a) the duty chargeable in respect of the agreement has been paid; and

(b) the Commissioner is of the opinion that the purchaser, when that agreement was executed, was acting as the agent of the transferee.

      (6) The duty chargeable in respect of a transfer of dutiable property that is not made in conformity with an agreement for the sale or transfer of the dutiable property is $20 if –

(a) the duty chargeable in respect of the agreement has been paid; and

(b) the Commissioner is satisfied that the purchaser named in that agreement entered into that agreement intending to transfer any dutiable property so purchased to any of the following:

(i) a corporation that is yet to be incorporated or is in the process of being incorporated;

(ii) a company intended to be acquired by the purchaser.

      (7) The duty chargeable on a transfer to a trustee of dutiable property subject to a declaration of trust is $20 if ad valorem duty has been paid on the declaration of trust in respect of the same dutiable property.

      (8) The duty chargeable on a transfer of dutiable property as a consequence of a foreclosure order is $20 if ad valorem duty has been paid on the foreclosure.

      (9) The duty chargeable on a declaration of trust that declares the same trusts as those upon and subject to which the same dutiable property was transferred to the person declaring the trust is $20 if ad valorem duty has been paid on the transfer.

      (10) A dutiable transaction in respect of marketable securities that confer a land use entitlement is taken to be a dutiable transaction in respect of the land use entitlement only.

      (11) If duty has been paid on the dutiable transaction referred to in subsection (10) in accordance with a law of another Australian jurisdiction, the duty charged by this Chapter on the dutiable transaction is to be reduced by the amount of the duty so paid.