Tasmanian Numbered Acts

DUTIES ACT 2001 (NO. 15 OF 2001) - SECT 9

9. What is dutiable property?

      (1) Dutiable property is any of the following:

(a) land in Tasmania;

(b) a mineral tenement within the meaning of the Mineral Resources Development Act 1995 ;

(c) fixtures to land or a mineral tenement;

(d) a land use entitlement;

(e) shares –

(i) in a Tasmanian company; or

(ii) in a corporation incorporated outside Australia that are kept on the Australian register kept in Tasmania;

(f) units in a unit trust scheme, being units –

(i) registered on a register kept in Tasmania; or

(ii) that are not registered on a register kept in Australia, but in respect of which the manager (or, if there is no manager, the trustee) of the unit trust scheme is a Tasmanian company or is a natural person resident in Tasmania;

(g) a business asset, being, at any relevant time –

(i) the goodwill of a business if, during the previous 12 months, a sale of goods or services, or goods and services, has been made to a Tasmanian customer of the business; or

(ii) intellectual property that has been used or exploited in Tasmania during the previous 12 months, but only if the intellectual property is the subject of a dutiable transaction that is, or forms part of, a sale of a business; or

(iii) a statutory licence or permission under a law of the Commonwealth, if the rights under the licence or permission have been exercised, during the previous 12 months, in respect of Tasmania or in an area that includes Tasmania or a part of Tasmania;

(h) a statutory licence or permission under a Tasmanian law;

(i) a partnership interest, being an interest in a partnership that has partnership property that is dutiable property elsewhere referred to in this section;

(j) goods in Tasmania, if the subject of an arrangement that includes a dutiable transaction over any dutiable property (other than intellectual property) elsewhere referred to in this section, not including the following:

(i) goods that are stock-in-trade;

(ii) materials held for use in manufacture;

(iii) goods under manufacture;

(iv) livestock;

(v) a registered motor vehicle;

(k) an option to purchase dutiable property, other than shares, units or an interest in shares or units referred to in paragraphs (e) and (f);

(l) an interest in any dutiable property referred to in the preceding paragraphs of this section, except to the extent that –

(i) it arises as a consequence of the ownership of a unit in a unit trust scheme and is not a land use entitlement; or

(ii) it is, or is attributable to, an option over dutiable property; or

(iii) it is an interest in a marketable security, being an interest that is traded on the Sydney Futures Exchange.

      (2) A reference in subsection (1) to a licence or permission includes a reference to a licence or permission surrendered or relinquished or for which an application for renewal is not made and the licence or permission or similar licence or permission is given, granted or issued to another person if the Commissioner considers that the giving, grant or issue has the same effect or amounts to a transfer of the licence or permission.

      (3) Despite subsection (1), the following marketable securities are not dutiable property:

(a) shares, or units in a unit trust scheme, that are quoted on the Australian Stock Exchange or a recognised stock exchange;

(b) an interest in shares or units referred to in paragraph (a), whether or not the interest is quoted on the Australian Stock Exchange or a recognised stock exchange.