Tasmanian Numbered Acts

DUTIES ACT 2001 (NO. 15 OF 2001) - SECT 6

6. Imposition of duty on certain transactions concerning dutiable property

      (1) This Chapter charges duty on –

(a) a transfer of dutiable property; and

(b) the following transactions:

(i) an agreement for the sale or transfer of dutiable property, whether conditional or not;

(ii) a declaration of trust over dutiable property;

(iii) a grant or surrender of an interest in land in Tasmania;

(iv) a foreclosure of a mortgage over dutiable property;

(v) a vesting of dutiable property by or as a consequence of a statute or court order;

(vi) the giving, granting or issuing of a licence to another person in the circumstances referred to in section 9(2).

      (2) Such a transfer or transaction is a dutiable transaction for the purposes of this Act.

      (3) In this Chapter –

"declaration of trust" means any declaration (other than by a will or testamentary instrument) that any identified property vested or to be vested in the person making the declaration is or is to be held in trust for the person or persons, or the purpose or purposes, mentioned in the declaration although the beneficial owner of the property, or the person entitled to appoint the property, may not have joined in or assented to the declaration;

"transfer" includes an assignment, an exchange and a buy-back of shares in accordance with Division 2 of Part 2J.1 of the Corporations Law.