Tasmanian Numbered Acts

DUTIES ACT 2001 (NO. 15 OF 2001) - SECT 3

3. Interpretation

In this Act –

"Act imposing duty" means –

(a) a corresponding Act; or

(b) an Act to which the Taxation Administration Act 1997 applies;

"ADR" means a negotiable certificated receipt issued by a depositary resident outside Australia acknowledging the interest of the registered holder of the receipt in shares in a Tasmanian company held by the depositary, or deposited with a depositary to hold, as trustee for the holder;

"advance" means an advance referred to in section 140;

"annuity" has the meaning given by section 174(6);

"application to register a motor vehicle" means –

(a) an application under the Vehicle and Traffic Act 1999 to register a motor vehicle; and

(b) an application under the Vehicle and Traffic Act 1999 to transfer the registration of a motor vehicle;

"approved" means approved by the Commissioner;

"associated person" means a person who is associated with another person in accordance with any of the following provisions:

(a) persons are associated persons if they are related persons;

(b) natural persons are associated persons if they are partners in a partnership to which the Partnership Act 1891 applies;

(c) private companies are associated persons if common shareholders have a majority interest in each private company;

(d) trustees are associated persons if any person is a beneficiary common to the trusts (not including a public unit trust scheme) of which they are trustees;

(e) a private company and a trustee are associated persons if a related body corporate of the company (within the meaning of the Corporations Law) is a beneficiary of the trust (not including a public unit trust scheme) of which the trustee is a trustee;

(f) a public company and another person are associated persons if the person is a subsidiary of that public company;

(g) persons are associated persons if they are acting in concert;

"Australian jurisdiction" means a State or Territory of the Commonwealth;

"Australian register" has the same meaning as in the Corporations Law;

"Australian Stock Exchange" means the Australian Stock Exchange Limited;

"bankrupt" includes applying to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounding with creditors or making an assignment of remuneration for their benefit;

"beneficiary of a discretionary trust" means a person referred to in section 63(1);

"building" includes –

(a) a part of a building; and

(b) a building attached to or conjoined with another building; and

(c) a flat or home unit;

"business asset" has the meaning given by section 9(1)(g);

"certificate of premium paid" means a certificate referred to in section 221(1);

"charge" includes impose;

"child of de facto partners" means a child –

(a) of which the partners are the natural parents; or

(b) of the female partner whose male partner is treated as the father of the child under section 10C of the Status of Children Act 1974 ; or

(c) adopted by the partners;

"commercial hire business" has the meaning given by section 128;

"Commissioner" means the Commissioner of State Revenue appointed as such under the Taxation Administration Act 1997 ;

"company title dwelling" means a separate dwelling in a building containing more than one separate dwelling situated on land in Tasmania owned or leased by a company in which shares issued by the company are owned by persons who, by virtue of the ownership of their shares, have an exclusive right to occupy a part of the building;

"complying approved deposit fund" means an entity that is a complying approved deposit fund in accordance with section 43 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth;

"complying superannuation fund" means –

(a) an entity that is a complying superannuation fund in accordance with section 42 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth; and

(b) an exempt public sector superannuation scheme;

"consumer credit contract" means a contract relating to credit regulated under –

(a) the Consumer Credit (Tasmania) Code; or

(b) an Act of another Australian jurisdiction that is the same, or substantially the same, as that Code;

"Consumer Price Index" means the Consumer Price Index referred to in section 109(6);

"corporation" means a body corporate, whether incorporated in this jurisdiction or elsewhere;

"corresponding Act" means an Act of another Australian jurisdiction that corresponds to this Act;

"cost" , in relation to a lease, has the meaning given by section 101;

"declaration of trust" means a declaration of trust referred to in section 6(3);

"de facto partner" means a de facto partner as determined in the De Facto Relationship Act 1999 ;

"de facto relationship" means the relationship between a man and a woman who, although not legally married to each other, live together on a genuine domestic basis as husband and wife;

"discretionary trust" means a trust under which the vesting of the whole or any part of the capital of the trust estate, or the whole or any part of the income from that capital, or both –

(a) is required to be determined by a person either in respect of the identity of the beneficiaries, or the quantum of interest to be taken, or both; or

(b) will occur if a discretion conferred under the trust is not exercised; or

(c) has occurred but under which the whole or any part of that capital or the whole or any part of that income, or both, will be divested from any person or persons in whom it is vested if a discretion conferred under the trust is exercised;

"dutiable property" has the meaning given by section 9;

"dutiable proportion" means a proportion referred to in section 149(2);

"dutiable transaction" has the meaning given by section 6(2);

"dutiable value" , in relation to dutiable property, has the meaning given by section 18;

"dutiable value" , in relation to a motor vehicle, has the meaning given by section 198;

"eligible rollover fund" means an entity that is an eligible rollover fund in accordance with section 242 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth and includes an entity the trustee of which is satisfied will be an eligible rollover fund within 12 months after the date on which a liability to duty arises (or would otherwise arise);

"equipment financing arrangement" means an arrangement referred to in section 119;

"exempt acquisition" means an acquisition referred to in section 72(1);

"exemption certificate" means a certificate of exemption in force under Part 3 of Chapter 8;

"farming company" means a company –

(a) the shares of which are not listed on a stock exchange; and

(b) that has assets including farming property;

"farming property" means –

(a) land used solely or principally for the business of primary production; or

(b) personal property which is used solely or principally in connection with the business of primary production;

"financial corporation" has the meaning given by section 154(4);

"fit-out costs" , in relation to a lease, means improvements made by or on behalf of, or at the expense of, the lessee and that remain the property of the lessee;

"foreign resident" means a person who at the relevant time –

(a) in the case of a person, other than a person referred to in paragraph (b) or (c), is not resident or domiciled in Australia; or

(b) in the case of a body corporate, is not incorporated under a law of an Australian jurisdiction and –

(i) does not have its central management and control in Australia; and

(ii) does not have its voting power controlled by shareholders who are residents of Australia; or

(c) in the case of a partnership or other unincorporated association or body of persons, does not have a member who is resident in Australia; or

(d) in the case of a trust estate –

(i) does not have a trustee who is resident in Australia; and

(ii) does not have its central management and control in Australia;

"franchise" means the package of rights held by a franchisee under a franchise arrangement;

"franchise arrangement" means an agreement or other arrangement between 2 or more persons by which one of them (the franchisor) authorises or permits another (the franchisee) –

(a) to engage in the business of offering, selling or distributing goods and services within or partly within Tasmania, and the franchisee is required to do so –

(i) in accordance with a specified marketing, business or technical plan or system; and

(ii) under a common format or procedure (or format and procedure); and

(b) to use a mark or common trade name, in such a manner that the business carried on by the franchisee is or is capable of being identified by the public as being substantially associated with the mark or name identifying, commonly connected with or controlled by the franchisor or a related person;

"franchisee" means a person who is authorised or permitted by a franchisor to do certain things under a franchise arrangement;

"franchisor" means a person who authorises or permits a franchisee to do certain things under a franchise arrangement;

"general insurance" has the meaning given by section 163;

"general insurer" means a person referred to in section 178(2);

"GST" has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth except that it includes notional GST of the kind for which payments may be made under section 7 of the National Taxation Reform (Commonwealth-State Relations) Act 1999 by a person who is a State entity within the meaning of that Act;

"hire of goods" has the meaning given by section 118;

"hire purchase agreement" has the meaning given by section 119(2);

"hiring charges" has the meaning given by section 124;

"home" means a private dwelling and includes a private dwelling which is a company title dwelling and a farming property on which a private dwelling is erected;

"instrument" includes a written document and a written statement;

"insurance" includes assurance;

"insurance against accident" means insurance referred to in section 172(2);

"insurance intermediary" has the same meaning as in the Insurance (Agents and Brokers) Act 1984 of the Commonwealth;

"insurer" has the meaning given by section 178(1);

"intellectual property" means –

(a) a business name, trading name, trade mark, industrial design, patent, registered design or copyright; or

(b) a right, whether or not under a franchise arrangement, to use or exploit –

(i) a business name, trading name, trade mark or industrial design; or

(ii) a thing, system or process that is the subject of a patent, registered design or copyright (or an adaptation or modification of such a thing, system or process);

"interest" includes an estate or proprietary right;

"interest" , in a land-rich corporation, has the meaning given by section 64(1);

"land" includes a stratum;

"land holding" means an interest in land as referred to in section 61;

"land use entitlement" means an entitlement to occupy land within Tasmania conferred through an ownership of shares in a company or an ownership of units in a unit trust scheme, or a combination of a shareholding or ownership of units together with a lease or licence;

"lease" has the meaning given by section 99;

"lease instrument" means an instrument that evidences or effects a lease;

"liability date" means the date on which a mortgage is liable under section 142 for mortgage duty;

"life company" has the same meaning as in the Life Insurance Act 1995 of the Commonwealth;

"life insurance" has the meaning given by section 172(1);

"majority interest" , in a private corporation, means an interest referred to in section 64(2);

"majority shareholder" in a private company means –

(a) in the case of a company the voting shares in which are not divided into classes, a person entitled to not less than 50% of those shares; and

(b) in the case of a company the voting shares in which are divided into classes, a person entitled to not less than 50% of the shares in one of those classes;

"managed investment scheme" means a managed investment scheme within the meaning of Chapter 5C of the Corporations Law, and includes a public unit trust scheme;

"market value" , in relation to a motor vehicle, means the amount for which the motor vehicle might reasonably be sold, free of encumbrances, on the open market;

"marketable securities" means the following:

(a) shares referred to in section 9(1)(e);

(b) units referred to in section 9(1)(f);

(c) an interest in shares or units referred to in paragraph (a) or (b);

"marriage" includes a purported marriage that is void;

"matrimonial property" means –

(a) property of the parties to a marriage or of either of them; and

(b) any estate or interest in that property;

"mortgage" means an instrument referred to in section 139;

"mortgage duty" means duty chargeable in respect of a mortgage;

"motor dealer" means a person carrying on the business of dealing in motor vehicles;

"motor vehicle" means a motor vehicle or trailer within the meaning of the Vehicle and Traffic Act 1999 ;

"new motor vehicle" means a motor vehicle that has not previously been registered under the Vehicle and Traffic Act 1999 or the law of another Australian jurisdiction;

"partnership interest" has the meaning given by section 9(1)(i);

"party to a marriage" includes a person who was a party to a marriage that was dissolved or annulled in Australia or elsewhere;

"passenger vehicle" means a passenger vehicle referred to in section 197(4);

"policy of mortgage insurance" means a policy of mortgage insurance referred to in section 171(3);

"pooled superannuation trust" means an entity that is a pooled superannuation trust in accordance with section 44 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth;

"premium" , in relation to general insurance, means a premium referred to in section 164;

"primary production" means –

(a) the cultivation of land for the purpose of selling the produce of the cultivation; or

(b) the maintenance of animals for the purpose of selling them or their natural increase or bodily produce; or

(c) the keeping of bees for the purpose of selling their honey; or

(d) the production from a nursery; or

(e) the propagation for sale of mushrooms or flowers; or

(f) an undertaking relating to planting or tending trees with a view to selling the trees or timber obtained from those trees; or

(g) the breeding of horses;

"private company" means a company –

(a) that is not limited by shares; or

(b) whose shares are not quoted on the Australian Stock Exchange or a recognised stock exchange;

"private corporation" has the meaning given by section 59;

"private unit trust scheme" means a unit trust scheme that is not a public unit trust scheme;

"property" means real property and personal property;

"property transferred" includes property referred to in Column 2 of the table in section 7;

"public company" means a public company within the meaning of the Corporations Law;

"public unit trust scheme" means a unit trust scheme –

(a) any of the units of which are listed for quotation on the Australian Stock Exchange or on a recognised stock exchange; or

(b) that is the subject of a deed that is an approved deed for the purposes of Division 5 of Part 7.12 of the Corporations Law or a corresponding law, but only if –

(i) some or all of its units have been offered to the public; and

(ii) no fewer than 50 persons hold units in it; or

(c) that is a managed investment scheme within the meaning of Chapter 5C of the Corporations Law and in respect of which –

(i) some or all of the units have been offered to the public; and

(ii) not less than 50 persons hold units in it; or

(d) that is exempted from the requirements of Part 7.12 of the Corporations Law and in respect of which –

(i) some or all of the units have been offered to the public; and

(ii) not less than 50 persons hold units in it; or

(e) that, in the opinion of the Commissioner, will be a public unit trust scheme within 12 months after the Commissioner gives written notification of that opinion to a person who has requested the Commissioner to express that opinion in relation to the unit trust scheme;

"recognised stock exchange" means –

(a) a stock exchange that is a member of the Federation Internationale des Bourses de Valeurs; or

(b) the Stock Exchange of Newcastle; or

(c) a stock exchange declared to be a recognised stock exchange under section 254;

"registered insurer" means an insurer registered under Part 3 of Chapter 7;

"related body corporate" has the same meaning as in the Corporations Law;

"related corporation" has the meaning given by section 154(4);

"related person" means a person who is related to another person in accordance with any of the following provisions:

(a) natural persons are related persons if –

(i) one is the spouse or de facto partner of the other; or

(ii) the relationship between them is that of a parent and child, brothers, sisters, or brother and sister;

(b) private companies are related persons if they are related bodies corporate within the meaning of the Corporations Law;

(c) a natural person and a private company are related persons if the natural person is a majority shareholder or director of the company or of another private company that is a related body corporate of the company within the meaning of the Corporations Law;

(d) a natural person and a trustee are related persons if the natural person is a beneficiary of the trust (not being a public unit trust scheme) of which the trustee is a trustee;

(e) a private company and a trustee are related persons if the company, or a majority shareholder or director of the company, is a beneficiary of the trust (not being a public unit trust scheme) of which the trustee is a trustee;

"relationship property" , in relation to a de facto relationship, means property of the parties to the de facto relationship or of either of them;

"relative" means a person referred to in section 225(3);

"relevant acquisition" means an acquisition referred to in section 67;

"replica" has the meaning given by section 220(4);

"responsible entity" , in relation to a managed investment scheme, has the same meaning as in the Corporations Law;

"right" , in relation to shares or units, means any right (whether actual, prospective or contingent) of a person to have shares or units issued by a company or trust to the person, whether or not on payment of money or for other consideration, but does not include a convertible note;

"shares" includes rights to shares;

"special hiring agreement" has the meaning given by section 122;

"Tasmanian company" means a company incorporated or taken to be incorporated under the Corporations Law of Tasmania, and includes a body corporate that is incorporated under any other Tasmanian Act and that is not a company incorporated or taken to be incorporated under the Corporations Law of another State or a Territory of the Commonwealth;

"trading undertaking" means an undertaking that –

(a) provides goods or services for monetary or other consideration; and

(b) has a predominantly commercial or profit-making focus; and

(c) meets a substantial part of its costs from charges;

"trailer" means a trailer as defined in the Vehicle and Traffic Act 1999 ;

"transferee" includes a person referred to in Column 3 of the table in section 7;

"unencumbered value" has the meaning given by section 20;

"unit" , in relation to a unit trust scheme, means –

(a) a right or interest (whether described as a unit or a sub-unit or otherwise) of a beneficiary under the scheme; or

(b) a right to any such right or interest;

"unit trust scheme" means any arrangements 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, income or distribution of assets arising from the acquisition, holding, management or disposal of any property whatever pursuant to the trust;

"variation" , in relation to a lease, means a variation made for any reason or on any basis and includes a further variation.