DUTIES ACT 2001 (NO. 15 OF 2001)

Tasmanian Numbered Acts

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DUTIES ACT 2001 (NO. 15 OF 2001) - SECT 7

7. Imposition of duty on dutiable transactions that are not transfers

(1) The duty charged by this Chapter on a dutiable transaction referred to in section 6(1)(b) is to be charged as if each such dutiable transaction were a transfer of dutiable property.

(2) Accordingly, for the purpose of charging duty under this Chapter, in relation to a dutiable transaction specified in Column 1 of the following Table –

(a) the property specified opposite the dutiable transaction in Column 2 is taken to be the property transferred (and a reference in this Act to property transferred includes a reference to such property); and

(b) the person specified opposite the dutiable transaction in Column 3 is taken to be the transferee of the dutiable property (and a reference in this Act to a transferee includes a reference to such a person); and

(c) the transfer of the dutiable property is taken to have occurred at the time specified opposite the dutiable transaction in Column 4 (and a reference in this Act to the time at which a transfer occurs includes a reference to such a time).

Column 1 Dutiable transaction

Column 2 Property transferred

Column 3 Transferee

Column 4 When transfer occurs

agreement for sale or transfer

the property agreed to be sold or transferred

the purchaser or transferee

when the agreement is entered into

declaration of trust

the property vested or to be vested in the declarant

the person declaring the trust

when the declaration is made

grant or surrender

the granted or surrendered property

the person to whom the property is granted or surrendered

when the grant or surrender takes place

foreclosure

the mortgaged property

the mortgagee

when the foreclosure order is made

vesting by or as a consequence of court order

the vested property

the person in whom the property is vested

when the vesting occurs

vesting by or as a consequence of statute

the vested property

the person in whom the property is vested

when the vesting occurs

giving, granting or issue of licence

the licence

the person to whom the licence is issued

when the licence is issued


Column 1 Dutiable transaction	Column 2 Property transferred	Column 3 Transferee	Column 4 When transfer occurs
agreement for sale or transfer	the property agreed to be sold or transferred	the purchaser or transferee	when the agreement is entered into
declaration of trust	the property vested or to be vested in the declarant	the person declaring the trust	when the declaration is made
grant or surrender	the granted or surrendered property	the person to whom the property is granted or surrendered	when the grant or surrender takes place
foreclosure	the mortgaged property	the mortgagee	when the foreclosure order is made
vesting by or as a consequence of court order	the vested property	the person in whom the property is vested	when the vesting occurs
vesting by or as a consequence of statute	the vested property	the person in whom the property is vested	when the vesting occurs
giving, granting or issue of licence	the licence	the person to whom the licence is issued	when the licence is issued

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