Duties Act 2000 (Vic)

Version No. 139

Duties Act 2000

No. 79 of 2000

Version incorporating amendments as at

6 August 2025

TABLE OF PROVISIONS

Section  Page

Chapter 1—Preliminary

1Purpose

2Commencement

3Definitions

3AWhat is a controlling interest for the purposes of the definition of foreign corporation?

3BWhat is a substantial interest in a trust estate for the purposes of the definition of foreign trust?

3CCommissioner may determine person has a controlling interest in a corporation

3DCommissioner may determine person has a substantial interest in a trust

3EExemptions from holding controlling interests in foreign corporations or substantial interests in trust estates of foreign trusts

3FDelegation of exemption power

3GWhat is residential property?

3HPartners taken to have beneficial ownership of individual partnership property

3IPurchasers of dutiable property under a shared equity arrangement

3IAPurchasers of dutiable property under a Help to Buy arrangement

3JApplication of this Act to corporate collective investment vehicles

4Division of Act into Chapters

5Taxation Administration Act 1997

6Act binds the Crown

Chapter 2—Transactions concerning dutiable property

Part 1—Introduction and overview

7Imposition of duty on certain transactions concerning dutiable property

7AVesting of land in Victoria by statute law

8Imposition of duty on dutiable transactions that are not transfers

9What form must a dutiable transaction take?

10What is dutiable property?

11When does a liability for duty arise?

12Who is liable to pay the duty?

13The liability of joint tenants

14Necessity for written instrument or written statement

15Lodging written instrument or statement with Commissioner

16When must duty be paid?

17No double duty

18What is the rate of duty?

18AForeign purchasers—duty in respect of change of use of land

19Concessions and exemptions from duty

19AForeign purchasers not entitled to concessions

Part 2—Dutiable value

20What is the dutiable value of dutiable property?

21What is the consideration for the transfer of dutiable property?

21AAConsideration for the transfer of dutiable property—adjustment for construction costs

21ACommissioner may publish percentage

21BRecords to be kept

21CPeriod of retention

21DPower to require documents

21EJoint and several liability for additional duty

22What is the unencumbered value of dutiable property?

22ATenant's fixtures to be included in the value of land

22BInterdependent sale of land and business goods

23Arrangements that reduce the dutiable value of marketable securities

24Aggregation of certain dutiable transactions

24ADutiable transactions relating to vacant land and construction of residential premises—where not constructed

25Apportionment—dutiable property and other property

26Partitions of marketable securities

27Partitions of land

Part 3—Rates of duty

28General rate

28ARate for additional duty chargeable for foreign purchasers—residential property

29Marketable securities

Part 4—Special provisions

30Interim payment of duty

30AInterim payment of duty in relation to electronic transactions

32Transfers arising from mortgages of land

Part 4A—Transactions treated as sub-sales of land

Division 1—Introduction

32ADefinitions

Division 2—Transfers involving additional consideration

32BApplication of Division

32CHow duty is charged on transfer

32DDutiable value of transactions

32EWhen does the liability to duty arise?

32FWho is liable to pay the duty?

32GExemptions and concessions

Division 3—Transfers involving land development

32IApplication of Division

32JHow duty is charged on transfer

32KDutiable value of transactions

32LWhen does the liability to duty arise?

32MWho is liable to pay the duty?

32NExemptions and concessions

Division 3A—Transfers resulting from options involving additional consideration

32OApplication of Division

32OAHow duty is charged on transfer

32OBDutiable value of transactions

32OCWhen does the liability to duty arise?

32ODWho is liable to pay the duty?

32OEExemptions and concessions

Division 4—Transfers resulting from options involving land development

32PApplication of Division

32QHow duty is charged on transfer

32RDutiable value of transactions

32SWhen does the liability to duty arise?

32TWho is liable to pay the duty?

32UExemptions and concessions

Division 5—Miscellaneous

32VProvisions for determining consideration

32WTransactions between relatives

32XParties required to provide information to Commissioner

Part 4B—Acquisition of economic entitlements in relation to relevant land

32XAApplication of Part

32XBDefinition

32XCWhat is an economic entitlement?

32XDEconomic entitlement taken to be beneficial ownership of relevant land

32XECalculation of percentage of beneficial ownership taken to have been acquired

32XFDutiable value of relevant land to which an economic entitlement relates

32XGPhasing-in of duty

32XHAggregation of dutiable transactions

32XIReduction of duty on subsequent transfer of relevant land to person holding economic entitlement

Part 5—Exemptions and concessional rates of duty

Division 1—Trusts

32XJDefinitions

32YReferences to dutiable property

33Change in trustees

34Property vested in an apparent purchaser

35Transfers to and from a trustee or nominee

36Property passing to beneficiaries of fixed trusts

36AProperty passing to beneficiaries of discretionary trusts

36BProperty passing to unitholders in unit trust schemes

36CEffect of certain mortgages on trust exemptions

37Establishment of a trust relating to unidentified property and non‑dutiable property

38Exemptions from duty under section 37

38ASpecial disability trusts

38ABBuilding requirement—special disability trusts

38ACResidence requirement—special disability trusts

38ADVariation of residence requirement—special disability trusts

38AELiability for duty if residence requirement not complied with—special disability trusts

38AFTrustee to notify Commissioner of change in circumstances—special disability trusts

Division 2—Superannuation

38BReferences to dutiable property

39Instruments relating to superannuation

40Transfer of property from one superannuation fund to another

41Transfers to trustees or custodians of superannuation funds or trusts

41AProperty passing to beneficiaries of superannuation funds

Division 3—Other general exemptions and concessions

41BReferences to dutiable property

42Deceased estates

43Marriage and domestic relationships—transfer of principal place of residence

43AACircumstances in which consideration does not include a mortgage

43AResidence requirement for section 43 exemption

43BVariation of residence requirement for section 43 exemption

43CLiability for duty if residence requirement for section 43 exemption not complied with

43DPersons must notify Commissioner of change in circumstance—section 43 exemption

44Breakdown of marriage and domestic relationships

45Charities

45AHealth centres and services

46Co-operatives

47Government bodies and diplomats

47ATransfer to Victorian Rail Track

48Bankruptcies and administrations

48AAmalgamation of industrial organisations

49Leases of residential sites in caravan parks

50AConversion of land use entitlements to different form of title

Division 4—Exemptions and concessions in relation to land

50BReferences to dutiable property

51Public rights of way

52Government bodies

52AJoint government enterprise—water saving projects

53Defence service homes

54Joint tenants and tenants in common

55Equity release programs

55AShared equity arrangements

55BCommonwealth Help to Buy arrangements

56Transfers of farms to relatives or charities

57Subsequent transfer not dutiable if duty paid on lease

57ALand sold initially to financial institution and natural person and then leased to natural person

57BLand sold initially to financial institution and then re‑sold to natural person

57CLand sold initially to financial institution and then leased to natural person

57DLand sold initially to natural person, beneficial interest then transferred to financial institution

57EChange of financial institution

57FIf the natural person dies

57FADealing with fixtures separately from land

57FBCalculation of duty for aggregated transactions involving fixtures and land

57FCExemption or concession for new homes in City of Melbourne

Division 4A—Principal places of residence and first home buyers

57GDefinitions

57HLand to which this Division applies

57IWhat is a PPR transfer?

57JRates of duty for certain PPR transfers

57JAFirst home buyer exemption or concession on PPR transfers

57JBRequirements—first home buyers

57KResidence requirement

57LVariation of residence requirement

57MLiability for duty if residence requirement not complied with

57NTransferee to notify Commissioner of change in circumstances

Division 4B—Principal places of residence and persons with a disability

57ODefinitions

57PExemption for transfer of principal place of residence to person with a disability

57QQualifying requirement

57RBuilding requirement

57SResidence requirement

57TVariation of residence requirement

57ULiability for duty if residence requirement not complied with

57VTransferee to notify Commissioner of change in circumstances

Division 5—Pensioner and concession card and eligible first home owner exemptions and concessions

58AADefinitions

58Who is an eligible cardholder?

59Land to which an eligible cardholder exemption or concession may apply

60Eligible cardholder exemption or concession

60AAEligible cardholder exemption or concession requirements

60AABResidence requirement

60AACVariation of residence requirement

60AADLiability for duty if residence requirement not complied with

60AAEPersons must notify Commissioner of change in circumstance

60AElection to receive exemption/concession

61Who is an eligible first home owner?

62Eligible first home owner exemption or concession where dwelling exists at the time of transfer

63Eligible first home owner exemption or concession where dwelling is constructed after transfer

63ATemporary suspension of first home owner exemption or concession

63BElection to receive eligible first home owner exemption/concession or additional first home owner grant

64Double duty for false or misleading statements

Division 5A—Commercial and industrial land in regional Victoria

64ADefinitions

64BReduction in duty in relation to eligible transfers

64CCalculation of duty for certain aggregated transactions

64DElection to receive reduction or other concession or exemption

64EUse requirement

64FVariation of use requirement

64GLiability for duty if use requirement not complied with

64HTransferee to notify Commissioner of change in circumstances

Division 6—Exemptions and concessions in relation to marketable securities

65Co-operatives and co-operative housing societies

66Loans and temporary transfers

67Nomineeing transactions—unquoted marketable securities

68Share buy-backs

69Reduction of duty—payment in non-Australian jurisdiction

Division 7—Young farmers

69AADefinitions

69ABDisqualifying interest

69ACPrimary production requirement

69ADExemption or concession for young farmers

69AECalculation of exemption or concession on transfer of single parcel of land or partial interest in single parcel of land

69AFCalculation of exemption on transfer of multiple parcels and partial interests of land

69AGElection to receive young farmer exemption/concession or principal place of residence concession

69AHLiability for duty if primary production requirement not complied with

69AIFarmer to notify Commissioner of change in circumstances

Division 8—Exemption from additional duty for foreign purchasers

69AJCertain foreign purchasers exempt from additional duty under section 28A

69AKVariation of residence requirement for exemption

69ALLiability for additional duty if residence requirement not complied with

69AMForeign purchasers must notify Commissioner of change in circumstance

Division 9—Tax reform scheme transactions

69ANTax reform scheme transactions

69AOExemption—3 years after entry transaction

69APExemption—tax reform scheme land fully assessed for duty

69AQExemption—tax reform scheme land partially assessed for duty

69AQAExemption or duty reduction—non-standard transaction

69AQBExemption—dutiable goods

69AQCApplication of Division to subdivided tax reform scheme land

69ARLiability for duty if change of land use after tax reform scheme land exemption

69ASApportionment of duty imposed on change of land use if land has been subdivided

69ATDuty imposed on change of land use if land has been consolidated

Part 6—Tax avoidance schemes

69AImposition of duty

69BWhat is a tax avoidance scheme?

69CAnti-avoidance provision

69DMisleading information

Chapter 3—Certain transactions treated as transfers

Part 1—Introduction and overview

70Imposition of duty

Part 2—Acquisition of interests in certain landholders

Division 1—Landholders

71Meaning of landholder

72What are land holdings?

72ALand holdings of unit trust schemes where section 32XD applies

73What does land include?

74Effect of uncompleted agreements

75Constructive ownership of land holdings—linked entities

76Constructive ownership of land holdings—discretionary trusts

Division 2—Charging of duty

77When does a liability for duty arise?

78What is a relevant acquisition?

79What are interests and significant interests in landholders?

80How may an interest be acquired?

81Acquisition of economic entitlement in relation to private landholder

82Acquisition of control

83Acquisition statements

84When must duty be paid?

85Who is liable to pay the duty?

86How duty is charged on relevant acquisitions in private landholders

87How duty is charged on relevant acquisitions in public landholders—concessional rate

88How duty is charged on relevant acquisitions in public landholders—non‑concessional rate

89Phasing-in of duty

89AReduction in marketable securities duty

89BConversion of a private unit trust scheme or wholesale unit trust scheme to a public unit trust scheme

89CConversion of a private company to a listed company

Division 3—Exemptions and concessions

89DExemptions

89EDuty concession—anomalous duty outcome

89FDuty concession—acquisitions securing the provision of finance

Division 3A—Tax reform scheme land

89FAValue of certain tax reform scheme land holdings to be excluded from duty assessment

89FABExclusion or partial exclusion of value of certain land holdings

89FACApplication of Division to subdivided tax reform scheme land

89FBLiability for duty if change of land use after tax reform scheme land exemption

89FCApportionment of duty imposed on change of land use if land has been subdivided

89FDDuty imposed on change of land use if land has been consolidated

Division 4—Valuation and supplementary calculation provisions

89GValuation of land holdings

89HMaximisation of entitlements on distribution of land holdings

89IAgreements for sale, transfer or purchase of land

89JRe-purchase facilities—widely held trusts

89KRe-purchase facilities—wholesale unit trust schemes

Division 5—Tax avoidance schemes

89LImposition of duty

89MWhat is a tax avoidance scheme?

89NAnti-avoidance provision

89OMisleading information

Division 6—Registration of unit trust schemes

89PDefinitions

89PAFund manager of Victorian Future Fund is qualified investor

89QApplication for registration

89RRegistration of declared public unit trust schemes

89SRegistration of wholesale unit trust schemes

89TRegistration of imminent wholesale unit trust schemes

89URegistration of declared wholesale unit trust schemes

89VDuration of registration

89WReporting requirements

89XDisqualifying circumstances for certain unit trust schemes

89YCancellation of registration

Part 3—Entitlements arising from capital reductions or rights alterations

90Definitions

91When does a liability for duty arise?

92When must duty be paid?

93Who is liable to pay the duty?

94Entitlement to voting shares arising from capital reduction or rights alteration

95Content of statement

96Assessment of duty

Part 4—Allotment of shares by direction

97Application of Part

98When does a liability for duty arise?

99When must duty be paid?

100Who is liable to pay the duty?

101Acquisition of shares by allotment

102Allotment statement

103Assessment of duty

Part 5—Acquisition of land use entitlements by allotment of shares or issue of units

103AWhen does a liability for duty arise?

103BWhen must duty be paid?

103CWho is liable to pay the duty?

103DAcquisition of land use entitlement

103EForm of statement

103FAssessment of duty

Chapter 4—Financial sector (transfer and restructure)

104Imposition of duty

105When does a liability for duty arise?

106Who is liable to pay the duty?

107Statement on transfer of property

108Assessment of duty

109Exemption

Chapter 6—Hire of goods

Part 1—Introduction and overview

125Imposition of duty

125AHire of goods duty abolished from January 2007

126What is a commercial hire business?

127Hire of goods to which this Chapter applies—jurisdictional nexus

128What are goods?

129What is a hire of goods?

130What is an equipment financing arrangement?

131What form may a hire of goods take?

132Exclusions from the definition of hire of goods

133Special hiring agreements

134What is the rate of duty?

135What are hiring charges?

136Payments exempted from hiring charges

137Credit for duty paid in another Australian jurisdiction

138Splitting or redirection of hiring charges (anti‑avoidance provision)

139Ascertainment and disclosure of place of use of goods

Part 2—Registration of commercial hire businesses and payment of duty

140Commercial hire businesses must be registered

141Registration of commercial hire businesses

142Cancellation of registration of commercial hire business

143Register of commercial hire businesses

144Duty base

145Lodgement of returns and payment of duty

146Statement of special hiring agreement

147Lodgement of statement and payment of duty

Chapter 7—Mortgages

Part 1—Introduction and overview

148Imposition of duty

148AMortgage duty abolished from July 2004

149What is a mortgage?

150What is an advance?

151Who is liable to pay the duty?

152When does a liability arise?

153When must duty be paid?

154How is mortgage duty charged?

155Extent mortgage is enforceable

156Where is property located?

Part 2—Calculating the amount secured by a mortgage

157Secured amount

158Contingent liabilities

159Mortgages over property not wholly within Victoria

160Advances secured by mortgage package

161Stamping before advance

162Security

163Exchange of information

164Collection of duty and endorsement of instruments

165Collateral securities

Part 3—Duty concessions

166Refinancing of loans

167Eligible mortgages under concession schemes

Part 4—Exemptions

168Exempt mortgages and supporting instruments

169Mortgages associated with certain credit contracts

170Farm machinery and commercial vehicles

171Certain debentures and related instruments

Part 5—Miscellaneous

172Payment of duty on mortgages associated with debenture issues

173Unregistered mortgages protected by caveats (anti‑avoidance provision)

174Stamping counterpart or collateral instrument if mortgage is lost, destroyed or cannot be produced

Chapter 8—Insurance

Part 1—Introduction and overview

175Imposition of duty

Part 2—General insurance

Division 1—Duty in respect of general insurance

176What is general insurance?

177What is a premium in relation to general insurance?

178When is a premium paid?

179What duty is payable

180Who is liable to pay the duty?

181Circumstances in which duty is payable by the insured person

182Records to be kept

183Refunds where premiums are returned

Division 2—How duty is paid by an insurer

184Who is an insurer?

185Certain insurers must be registered

186Registration

187Cancellation of registration by the Commissioner

188Cessation of business and cancellation of registration by the insurer

189Register of insurers

190Monthly returns and payment of duty

191Recovery of duty by registered insurer

Division 3—Apportionment of premiums and other amounts between States and Territories

192Application of Division

193Schedule of Apportionment

194Apportionment in practice

Division 4—Apportionment of premiums and other amounts as between different types of insurance

195Apportionment between different types of insurance

Division 5—Exempt insurance

196What insurance is exempt from duty?

196ALife insurance

196BLife insurance policy riders

Division 6—Miscellaneous

197Effect on contract of insurance of failure to comply with this Chapter

Part 4—Transport accident charges

209Imposition of duty

210Who is liable to pay the duty?

211Rate of duty

212How is duty paid?

213Refund of duty if transport accident charge is refunded

Chapter 9—Motor vehicle duty

Part 1—Introduction and overview

214Imposition of duty

215Lodgement of statement of dutiable value

216Who is liable to pay the duty?

217When does duty become payable?

217AAssessment of duty

218What is the rate of duty?

219What is the dutiable value of a motor vehicle?

220Prohibition on registration of motor vehicles

Part 3—Exemptions

229Ownership by devolution of title and deceased estates

230Special dealers—trading stock, demonstrator vehicles and driver education

231Licensed motor car traders—trading stock, demonstrator vehicles, service demonstrator vehicles and driver education

232Applications by interstate licensed motor car traders

233Primary producer vehicles

233AAMobile plant

233ABSpecial purpose vehicles (type P)

233ATransport for disabled, handicapped or injured

233BIncapacitated person's vehicle

233CPrivate vehicle used to convey incapacitated person

233CAPrivate vehicle to be converted and used to convey incapacitated person

233CBCertain wheelchair accessible motor vehicles providing unbooked commercial passenger vehicle services

233DGovernment or charitable vehicle used to convey incapacitated person

233EIncapacitated war veteran's vehicle

233FFire fighting and emergency response vehicle

233GConsular vehicle

233HRepossessions and restorations

234AAmalgamation of industrial organisations

234BFinancial sector (transfer and restructure)

235Marriage and domestic relationships and their breakdown

236Minors and trustees

237Vehicles previously registered in the same name interstate

Part 4—Duty on change of use

238Duty on statement of change of use

Part 5—Refund of duty

240Entitlement to refund

Chapter 10—Miscellaneous duties

Part 1—Sale of cattle

241Imposition of duty

242What is the rate of duty?

243What is the purchase money?

Part 2—Sale of sheep and goats

244Imposition of duty

245What is the rate of duty?

Part 3—Sale of pigs

246Imposition of duty

247What is the rate of duty?

248What is the purchase money?

Part 4—Registration of approved agents

248ARegistration of approved agents

248BCommissioner to keep register of approved agents

Chapter 11—General exemptions and concessions from duty

Part 1—Security for payment of tax

249Security for payment of tax

Part 2—Corporate reconstructions

Division 1—Exemptions and concessions for corporate consolidations and reconstructions

250Definitions

250AWhat is an eligible transaction?

250ABWhat is an arrangement?

250BConcession and exemptions for certain transactions arising out of corporate reconstructions, corporate consolidations and arrangements

250DGSpecial provision in relation to landholder duty if there has been a corporate consolidation involving a private unit trust scheme

Division 1B—Exchange of stapled ownership interests for ownership interests in a unit trust scheme

250DHDefinitions

250DIConcession for relevant acquisitions

Part 3—Managed investment schemes

251Managed investment schemes

Part 3A—Corporate collective investment vehicles

251AACorporate collective investment vehicles

Part 4—Mortgage-backed securities

251AMortgage-backed securities

251BInstruments issued for the purpose of creating, issuing or marketing mortgage-backed securities

Chapter 12—Administration and enforcement

Part 1—Stamping instruments

251CDefinitions

252Provision of stamps

253Limitation on use of designated stamps

254Form of stamps to be used

255Stamping of instruments

255AAuthentication of payment of duty using on-line duty payment system

256When is an instrument duly stamped?

257Adhesive stamps

258Licences to deal in stamps

259Refunds—spoiled and unused stamps

260Reassessments—failed instruments

261Instruments to be separately charged with duty in certain cases

262Execution of instruments

263Counterparts and replicas

Part 2—Authorisation of returns systems

264Authorised persons

264AApplication for authorisation

264BConditions of authorisation

264CGazettal or service of notices

265Endorsement of instruments by authorised persons

266Payment of duty by authorised persons

267Offset of overpaid amounts

268Unauthorised endorsement

Part 3—Enforcement

269Registration of instruments

270Registration of transfer of shares in private companies

271Registration of transfer of units

272Receipt of instruments in evidence

273Valuation of property

274Ascertainment of value of certain items

275Impounding of instruments

276Injunction to prevent unregistered businesses trading

277First charge on land—foreign purchasers of residential property

278Registration of charge

Chapter 13—General

282Payments from Consolidated Fund

282AImposition of foreign purchaser additional duty

283Regulations

Chapter 14—Repeals, consequential amendments and transitional provisions

286Transitional provisions

Schedules

Schedule 1—Special purpose vehicles and mobile plant

Schedule 2—Transitional provisions

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Endnotes

1     General information

2     Table of Amendments

3     Explanatory details

Version No. 139

Duties Act 2000

No. 79 of 2000

Version incorporating amendments as at

6 August 2025

The Parliament of Victoria enacts as follows:

CHAPTER 1—PRELIMINARY

1Purpose

The main purpose of this Act is to create and charge a number of duties.

2Commencement

This Act comes into operation on 1 July 2001.

3Definitions

(1)In this Act—

acquisition statement, in Part 2 of Chapter 3, means a statement referred to in section 83;

advance, in Chapter 7, has the meaning given by section 150;

allotment statement, in Part 4 of Chapter 3, means a statement referred to in section 101;

approved means approved by the Commissioner;

approved agent means a person registered as an approved agent under section 248A;

assets, in relation to a sub-fund of a CCIV, has the meaning given by section 1233H of the Corporations Act;

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 1958 applies;

(c)companies are associated persons if—

(i)there are minority shareholders common to each company who, if their interests were aggregated, would be majority shareholders in each company; or

(ii)any majority shareholder or relative is a majority shareholder in each company;

(ca)companies are associated persons if the shares in the companies are "stapled", in that they are unable to be traded other than as if they together represented a single security;

(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 company and a trustee are associated persons if the company or a related body corporate of the company is a beneficiary of the trust (not including a public unit trust scheme) of which the trustee is a trustee;

(f)a company and the trustee of a unit trust scheme are associated persons if their shares and units are "stapled", in that they are unable to be traded other than as if they together represented a single security;

(g)trustees of unit trust schemes are associated persons if the units in each of the unit trust schemes are "stapled", in that they are unable to be traded other than as if they together represented a single security;

(h)a qualified investor and a private company are associated persons if the qualified investor is a majority shareholder in the private company;

(i)a qualified investor and the trustee of a private unit trust scheme are associated persons if the qualified investor holds 20% or more of the units in the private unit trust scheme;

(j)trustees are associated persons if one of the trustees is a beneficiary of the trust (not including a public unit trust scheme) of which the other trustee is a trustee;

(k)persons are associated persons if one of those persons is an associated person of a person of whom the other of those persons is an associated person (including a person that is an associated person of the other of those persons because of one or more other applications of the paragraphs in this definition);

and, for the purposes of Part 2 of Chapter 3, a public company and a subsidiary of a public company are taken to be associated persons;

associated transaction, in relation to the acquisition of an interest in a landholder by a person, means an acquisition of an interest in the landholder by another person in circumstances in which—

(a)those persons are acting in concert; or

(b)the acquisitions form, evidence, give effect to or arise from substantially one arrangement, one transaction or one series of transactions;

ASXmeans ASX Limited (A.C.N. 008 624 691);

Australian register has the same meaning as in the Corporations Act;

*                *                *                *                *

authorised deposit-taking institution has the same meaning as in the Banking Act 1959 of the Commonwealth;

business insurance means general insurance that relates to one or more of the following classes of business—

(a)aviation;

(ab)cyber;

(ac)directors and officers;

(b)employers' liability;

(c)fire and industrial special risks;

(d)marine;

(e)public and product liability;

(f)professional indemnity;

(g)a class of business declared under subsection (2A)(a)—

but does not include a kind of insurance excluded under subsection (2A)(b);

calf means any cattle less than 6 weeks of age;

cattle means bull, cow, ox, steer, heifer, bison or buffalo;

change of use, in relation to tax reform scheme land, has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;

charge includes impose;

class of business means a class of business defined in a prudential standard determined under section 32 of the Insurance Act 1973 of the Commonwealth;

collateral mortgage means a mortgage that secures all or part of the same amount as another mortgage, security instrument or mortgage package that has been duly stamped under this Act or a corresponding Act;

commercial hire business has the meaning given by section 126;

commercial vehicle means—

(a)a motor vehicle or trailer within the meaning of the Road Safety Act 1986 constructed or adapted principally for the carriage of goods but does not include a motor vehicle of the kind known as a utility, a station wagon or a panel van; or

(b)a vehicle without motive power of its own and constructed or adapted principally for the carriage of goods and for being drawn by a motor vehicle within the meaning of that Act;

Commissioner means the Commissioner of State Revenue referred to in section 62 of the Taxation Administration Act 1997;

compliance plate means a plate authorised to be placed on a vehicle, or taken to have been placed on a vehicle, under the Motor Vehicle Standards Act 1989 of the Commonwealth;

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 an entity that is a complying superannuation fund in accordance with section 42 or 42A of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth and an exempt public sector superannuation scheme and in section 40 includes a complying approved deposit fund and an eligible rollover fund;

controlling interest has the meaning given by section 3A;

co-operative has the same meaning as in the Co‑operatives National Law (Victoria);

co-operative housing society has the same meaning as in the meaning of the Co‑operative Housing Societies Act 1958;

corporate collective investment vehicle or CCIV has the same meaning as in the Corporations Act;

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

corresponding Act means an Act of another State or of a Territory corresponding to this Act;

*                *                *                *                *

counterpart includes a duplicate;

Crown leasehold means a lease under the Land Act 1958 or any other Act or enactment in respect of which a Crown grant in fee-simple is by law directed or authorised to be made to the lessee on payment of all sums (whether referred to as rent or otherwise) reserved by the lease and on compliance with the other covenants of the lease;

*                *                *                *                *

demonstrator vehicle means a motor vehicle that is used exclusively for the purpose of sale of another vehicle of the same class;

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 the person or persons in whom it is vested if a discretion conferred under the trust is exercised;

domestic partner of a person means a person with whom the person is in a domestic relationship;

domestic relationship means—

(a)a registered domestic relationship; or

(b)a relationship between two persons who are not married to each other but who are living together as a couple on a genuine domestic basis (irrespective of gender);

dutiable property has the meaning given by section 10;

dutiable proportion, for a mortgage, means the proportion of the amount secured by the mortgage worked out under section 159;

dutiable transaction has the meaning given by section 7(2);

dutiable value—

(a)of dutiable property has the meaning given by section 20;

(b)of a motor vehicle has the meaning given by section 219;

economic entitlement—

(a)in Part 4B and Division 9 of Part 5 of Chapter 2, has the meaning given by section 32XC(1); and

(b)in Part 2 of Chapter 3, has the meaning given by section 81(2);

eligible cardholder has the meaning given by section 58;

eligible first home owner has the meaning given by section 61;

*                *                *                *                *

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);

ELN means ELN within the meaning of the Electronic Conveyancing National Law (Victoria);

*                *                *                *                *

entry date, in relation to tax reform scheme land, has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;

entry interest, in relation to tax reform scheme land, means—

(a)the qualifying interest obtained under the relevant entry transaction for the land; or

(b)interests aggregated under section 10 or 13 of the Commercial and Industrial Property Tax Reform Act 2024 to amount to a qualifying interest for the purposes of the relevant entry transaction for the land;

entry transaction has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;

equivalent exchange means a recognised stock exchange operating in Australia which imposes, as a minimum, the requirements set out in subsection (4A) on an entity applying for quotation of its securities on the relevant market;

execute, in relation to an instrument not under seal, means sign;

farm machinery means—

(a)a harvester, binder, tractor, plough or other agricultural implement; or

(b)a boat;

(c)fishing equipment;

(d)any other goods of a class commonly used for the purposes of primary production that are determined by the Commissioner to be farm machinery for the purposes of sections 132(j) and 170—

where the goods are acquired for the purposes of primary production;

financial institution means—

(a)an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth; or

(b)a co-operative within the meaning of the Co‑operatives National Law (Victoria); or

(c)a co-operative housing society within the meaning of the Co-operative Housing Societies Act 1958; or

(d)a body approved by the Governor in Council by Order published in the Government Gazette;

foreign corporation means—

(a)a corporation that is incorporated outside Australia; or

(b)a corporation in which one of the following persons has a controlling interest—

(i)a foreign natural person;

(ii)another foreign corporation;

(iii)the trustee of a foreign trust;

foreign natural person means a natural person who is not any of the following—

(a)an Australian citizen within the meaning of the Australian Citizenship Act 2007 of the Commonwealth;

(b)the holder of a permanent visa within the meaning of section 30(1) of the Migration Act 1958 of the Commonwealth;

(c)a New Zealand citizen who is the holder of a special category visa within the meaning of section 32(1) of the Migration Act 1958 of the Commonwealth;

foreign purchaser means a transferee (for the purposes of Chapter 2) or a person who makes a relevant acquisition (for the purposes of Chapter 3), and that transferee or person is—

(a)a foreign natural person; or

(b)a foreign corporation; or

(c)the trustee of a foreign trust;

foreign trust means a trust in which one of the following persons has a substantial interest in the trust estate—

(a)a foreign corporation;

(b)a foreign natural person;

(c)another person that holds the substantial interest as trustee of another foreign trust;

friendly society means a body that was a society within the meaning of the Friendly Societies (Victoria) Code immediately before the transfer date within the meaning of the Financial Sector Reform (Victoria) Act 1999 or is a friendly society for the purposes of the Life Insurance Act 1995 of the Commonwealth;

general insurance has the meaning given by section 176;

*                *                *                *                *

green car means a passenger car that is of a model that has combined tailpipe carbon dioxide emissions that do not exceed 120 grams per kilometre;

GST has the same meaning as it has 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 Part 3 of the National Taxation Reform (Consequential Provisions) Act 2000 by a person that is a State entity within the meaning of that Act;

GVM has the same meaning as in the Road Safety Act 1986;

heavy trailer means a trailer or semi-trailer within the meaning of the Road Safety Act 1986 with an MRC exceeding 4×5 tonnes;

hire of goods has the meaning given by section 129;

hire purchase agreement has the meaning given by section 130(2);

hiring charges has the meaning given by section 135;

home has the meaning given by section 4 of the First Home Owner Grant and Home Buyer Schemes Act 2000;

home buyer scheme has the meaning given by section 34A of the First Home Owner Grant and Home Buyer Schemes Act 2000;

industrial organisation means an association of employees or employers registered as an organisation under the Fair Work (Registered Organisations) Act 2009 of the Commonwealth;

instrument includes a written document and a written statement;

insurance includes assurance;

insurance intermediary means—

(a)a person who arranges contracts of insurance in Victoria—

(i)for reward; and

(ii)as an agent for a person carrying on a business of insurance; or

(b)a financial services licensee (within the meaning of section 761A of the Corporations Act) whose licence covers arranging contracts of insurance as an agent for a person carrying on a business of insurance; or

(c)a regulated principal (within the meaning of section 1430 of the Corporations Act) when carrying on business as an insurance broker that the regulated principal is authorised to carry on by Subdivision D of Division 1 of Part 10.2 of that Act;

insurer has the meaning given by section 184;

interest includes an estate or proprietary right;

interest in a landholder has the meaning given by section 79(1);

land-related interest means dutiable property referred to in section 10(1)(a), (ab), (ac), (ad) or (e);

land development, in relation to land, means any one or more of the following—

(a)preparing a plan of subdivision of the land or taking any steps to have the plan registered under the Subdivision Act 1988;

(b)applying for or obtaining a permit under the Planning and Environment Act 1987 in relation to the use or development of the land;

(c)requesting under the Planning and Environment Act 1987 a planning authority to prepare an amendment to a planning scheme that would affect the land;

(d)applying for or obtaining a permit or approval under the Building Act 1993 in relation to the land;

(e)doing anything in relation to the land for which a permit or approval referred to in paragraph (d) would be required;

(f)developing or changing the land in any other way that would lead to the enhancement of its value;

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

lease means a lease of land in Victoria or an agreement for a lease of land in Victoria;

liabilities, in relation to a sub-fund of a CCIV, has the meaning given by section 1233L of the Corporations Act;

liability date, for a mortgage, means the date the mortgage is liable under section 152 for mortgage duty;

licensed motor car trader has the same meaning as in the Motor Car Traders Act 1986;

life insurance has the meaning given by section 196A;

*                *                *                *                *

linked entity has the meaning given in section 75;

*                *                *                *                *

listed company means—

(a)a corporation all the shares in which are quoted on the ASX or an equivalent exchange; or

(ab)a corporation all the shares in which are quoted on the LSE, NYSE or NZX; or

(b)a corporation all the shares in which are quoted on any exchange of the World Federation of Exchanges (other than the ASX or an equivalent exchange);

listed trustmeans—

(a)a unit trust scheme all the units in which are quoted on the ASX or an equivalent exchange; or

(ab)a unit trust scheme, all the units in which are quoted on the LSE, NYSE or NZX; or

(b)a unit trust scheme all the units in which are quoted on any exchange of the World Federation of Exchanges (other than the ASX or an equivalent exchange);

load, in relation to a vehicle, includes anything that is removed from the vehicle when not in use;

LSE means the London Stock Exchange;

majority shareholder in a company means—

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

managed investment scheme means a managed investment scheme within the meaning of Chapter 5C of the Corporations Act;

market capitalisation means the total market value of an entity's issued securities, calculated by multiplying the number of the entity's issued securities by the current market value of one of those securities;

marketable securities means the following—

(a)shares referred to in section 10(1)(b);

(b)units referred to in section 10(1)(c);

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

member, in relation to a sub-fund of a CCIV, has the same meaning as in paragraph (c) of the definition of that term in the Corporations Act;

minority shareholder in a company, means a shareholder in that company who is not a majority shareholder;

mortgage—

(a)subject to paragraph (b), has the meaning given by section 149;

(b)for the purposes of section 251A and the definitions of mortgage-backed security and pool of mortgages means a mortgage of any estate or interest in land, including a leasehold estate or interest in land, whether the land is situated in Victoria or elsewhere, and includes a charge over any such land;

mortgage-backed security means—

(a)an interest in a trust that entitles the holder of or beneficial owner under the interest—

(i)to the whole or any part of the rights or entitlements of a mortgagee and any other rights or entitlements in respect of a mortgage or any money payable by the mortgagor under the mortgage (whether the money is payable to the holder of or beneficial owner under the interest on the same terms and conditions as under the mortgage or not); or

(ii)to the whole or any part of the rights or entitlements of a mortgagee and any other rights or entitlements in respect of a pool of mortgages or any money payable by mortgagors under those mortgages (whether the money is payable to the holder of or beneficial owner under the interest on the same terms and conditions as under the mortgages or not); or

(iii)to payments that are derived substantially or, if the regulations prescribe the extent, to the prescribed extent, from the income or receipts of a pool of mortgages—

and that may, in addition, entitle the holder or beneficial owner to a transfer or assignment of the mortgage or mortgages; or

(b)a debt security (whether or not in writing) the payments under which by the person who issues or makes the debt security are derived substantially or, if the regulations prescribe the extent, to the prescribed extent, from the income or receipts of a pool of mortgages; or

(c)any of the following—

(i)an interest in a trust creating, conferring or comprising a right or interest (whether described as a unit, bond or otherwise) of or on a beneficiary in a scheme under which any profit or income in which the beneficiaries participate arises from the acquisition, holding, management or disposal of prescribed property, or any instrument that evidences such a right or interest;

(ii)a security (whether or not in writing) the payments under which by the person who issues or makes the security are derived substantially from the income or receipts of prescribed property;

(iii)an interest in a trust, a debt security (whether or not in writing), an instrument or property that creates an interest in or charge over an interest in a trust, a debt security (whether or not in writing) or other instrument or property, to which paragraph (a) or (b) or subparagraph (i) or (ii) of this paragraph applies—

but does not include an instrument or property comprising—

(d)a mortgage; or

(e)the transfer of a mortgage; or

(f)a declaration of trust; or

(g)an instrument of a class or description of instruments, or property of a class or description of property, prescribed not to be a mortgage-backed security for the purposes of this definition;

mortgage package has the meaning given by section 160;

motor vehicle means—

(a)a motor vehicle within the meaning of the Road Safety Act 1986; or

(b)a heavy trailer, other than in section 233 and Schedule 1;

MRC (mass rating for charging), in relation to a vehicle, means—

(a)the maximum mass of the vehicle, including any load, recorded on the compliance plate as the GVM, gross trailer mass rating or aggregate trailer mass of the vehicle; or

(b)in relation to a vehicle for which there is no compliance plate—its maximum mass, including any load;

*                *                *                *                *

net tangible assets means the value determined by calculating the value of the total assets of an entity, less the value of its total liabilities and the value of any intangible assets;

NYSE means the New York Stock Exchange;

NZX means the company registered in New Zealand known as NZX Limited;

on-line duty payment system means a system for the electronic payment of duty authorised by the Commissioner under a taxation law;

partner of a person means the person's spouse or domestic partner;

passenger car means—

(a)a motor vehicle constructed principally for the carriage of passengers; or

(b)a motor vehicle that—

(i)is designed principally for the conveyance of not more than 8 adults; and

(ii)is constructed either on a truck chassis or with special features for off-road operation—

but does not include—

(c)a motor cycle; or

(d)a motor vehicle having a utility or panel van type body in which the forward part of the body form and the greater part of the mechanical equipment are the same as those in a passenger car manufactured by the manufacturer of the motor vehicle; or

(e)a motor vehicle constructed for the carriage of passengers and equipped to seat more than 8 adults (including the driver);

person includes an unincorporated association and a partnership;

Note

person also includes a body corporate—see section 38 of the Interpretation of Legislation Act 1984.

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;

pool of mortgages means a pool or collection of assets—

(a)that consists solely of mortgages; or

(b)that consists substantially, or to the extent declared under subsection (2)(d), of mortgages or of money paid under mortgages, or both, and may include—

(i)cash;

(ii)investments of a kind referred to in section 4(1)(a), (b), (c), (d), (e), (f), (g), (h), (i), (ia), (j), (k) or (o) of the Trustee Act 1958 as in force immediately before the commencement of section 4 of the Trustee and Trustee Companies (Amendment) Act 1995;

(iii)assets of a class of assets declared under subsection (2)(e);

potential voting power has the same meaning as in the Foreign Acquisitions and Takeovers Act 1975 of the Commonwealth;

PPR transfer has the meaning given by section 57I;

premium, in relation to general insurance, has the meaning given by section 177;

prescribed property means any of the following—

(a)cash;

(b)investments of a kind referred to in section 4(1)(a), (b), (c), (d), (e), (f), (g), (h), (i), (ia), (j), (k) or (o) of the Trustee Act 1958 as in force immediately before the commencement of section 4 of the Trustee and Trustee Companies (Amendment) Act 1995;

primary producer means a person—

(a)engaged solely or substantially in agricultural, horticultural, viticultural, dairying, pastoral or other like activities; or

(b)who is the holder of a licence under the Fisheries Act 1995 to take fish for sale;

primary producer passenger car means a passenger car that is—

(a)registered or to be registered in the name of a person who is a primary producer; and

(b)used or to be used primarily in the business of the person as a primary producer;

primary production means the use of land primarily for—

(a)cultivation for the purpose of selling the produce of cultivation (whether in a natural, processed or converted state); or

(b)the maintenance of animals or poultry 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)commercial fishing, including the preparation for commercial fishing or the storage or preservation of fish or fishing gear; or

(e)the cultivation or propagation for sale of plants, seedlings, mushrooms or orchids;

principal beneficiary, of a special disability trust, has the meaning given by—

(a)section 1209M(1) of the Social Security Act 1991 of the Commonwealth, in the case of a special disability trust within the meaning of section 1209L of that Act; and

(b)section 52ZZZWA(1) of the Veterans' Entitlements Act 1986 of the Commonwealth, in the case of a special disability trust within the meaning of section 52ZZZW of that Act;

private company means a corporation that is not a listed company;

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private unit trust scheme means a unit trust scheme that is not—

(a)a public unit trust scheme; or

(b)a wholesale unit trust scheme;

public unit trust scheme means any of the following unit trust schemes—

(a)a listed trust;

(b)a widely held trust;

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(d)a registered declared public unit trust scheme—

but does not include a unit trust scheme that is a wholesale unit trust scheme;

qualified investor has the meaning given in section 89P;

qualifying dutiable transaction has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;

qualifying interest, in relation to land, has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;

qualifying landholder transaction has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;

qualifying use, in relation to land, has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;

receiving body, in Chapter 4, has the same meaning as in the Financial Sector (Transfer and Restructure) Act 1999 of the Commonwealth;

recognised stock exchange means—

(a)a stock exchange that is a member of the World Federation of Exchanges; or

(b)a prescribed financial market (within the meaning of section 9 of the Corporations Act); or

(c)a licensed market (within the meaning of section 761A of the Corporations Act) that is prescribed as a recognised stock exchange for the purposes of this Act;

*                *                *                *                *

referable, in relation to a sub-fund and a share in a CCIV, has the meaning given by section 1230(1) of the Corporations Act;

referrable point, for the dutiable proportion of a mortgage, means the document or approved method used to work out the dutiable proportion under section 159;

registered declared public unit trust scheme means a unit trust scheme declared as a public unit trust scheme under Division 6 of Part 2 of Chapter 3;

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registered insurer means an insurer registered under Part 2 of Chapter 8;

registered operator has the same meaning as in the Road Safety Act 1986;

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related body corporate has the same meaning as in the Corporations Act;

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 one of them is a relative of the other;

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

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

(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 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;

(f)persons are related persons if one of those persons is a related person of a person of whom the other of those persons is a related person (including a person that is a related person of the other of those persons because of one or more other applications of the paragraphs in this definition);

*                *                *                *                *

relative in relation to a natural person, means a person who is—

(a)a child or remoter lineal descendant of the person or of the partner of the person;

(b)a parent or remoter lineal ancestor of the person or of the partner of the person;

(c)a brother or sister of the person or of the partner of the person;

(d)the partner of the person or a partner of any person referred to in paragraph (a), (b) or (c);

(e)a child of a brother or sister of the person or of the partner of the person;

(f)a brother or sister of a parent of the person or of a parent of the partner of the person;

relevant entry transaction, in respect of land, means the entry transaction under which the land becomes tax reform scheme land;

rent reserved in relation to a lease, means the rent paid or payable during the term of the lease and any amount paid or payable for the right to use the land under the lease;

Example

Amounts paid under the lease for the following purposes are payments for the right to use the land under the lease—

(a)rates;

(b)charges;

(c)taxes;

(d)maintenance;

(e)utilities;

(f)legal costs required to be paid by the lessee on behalf of the lessor in relation to the grant of the lease;

(g)insurance premiums;

(h)marketing costs;

(i)car park contributions.

residential property has the meaning given by section 3G;

responsible entity of a managed investment scheme, has the same meaning as in the Corporations Act;

right 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;

service demonstrator vehicle means a motor vehicle that is—

(a)used for the purposes of the sale of another vehicle of the same class; and

(b)made available without charge by a licensed motor car trader to a customer of the trader for use while the customer's motor vehicle is being serviced;

shared equity arrangement means an arrangement, including an arrangement made under a home buyer scheme, under which the State contributes to the purchase of a home, or land on which a home will be affixed, and takes an equitable interest in the land to which the home is or will be affixed;

shares means—

(a)subject to paragraph (b), shares or rights to shares; and

(b)for the purposes of the definition of listed company, shares that entitle the shareholder to a distribution of the property of the company on a winding up of the company, other than a return of capital paid in respect of the shares;

special dealer means a person who would be a motor car trader within the meaning of the Motor Car Traders Act 1986 but for the fact that the motor vehicles in which the person trades are not motor cars within the meaning of that Act;

special disability trust means—

(a)a special disability trust within the meaning of section 1209L of the Social Security Act 1991 of the Commonwealth; or

(b)a special disability trust within the meaning of section 52ZZZW of the Veterans' Entitlements Act 1986 of the Commonwealth;

special hiring agreement has the meaning given by section 133;

spouse of a person means a person to whom the person is married;

stamp means duty stamp whether impressed by machine imprint or adhesive;

sub-fund, of a CCIV, has the meaning given by section 1222Q(1) of the Corporations Act;

substantial interest has the meaning given by section 3B;

tax reform scheme land has the meaning given by section 3 of the Commercial and Industrial Property Tax Reform Act 2024;

tax reform scheme transaction means—

(a)a standard transaction within the meaning of section 69AN(1); or

(b)a non-standard transaction within the meaning of section 69AN(2);

tenant's fixtures has the meaning given by section 22A(3);

Territory means Territory of the Commonwealth;

transferincludes an assignment, a conveyance, an exchange and a buy-back of shares in accordance with Division 2 of Part 2J.1 of the Corporations Act;

trustee of a unit trust scheme that is a managed investment scheme, includes—

(a)a responsible entity of the scheme; and

(b)an agent appointed, or other person engaged, by a responsible entity of the scheme under Part 5C.2 of the Corporations Act;

unencumbered value of dutiable property has the meaning given by section 22;

unit in a unit trust scheme means—

(a)subject to paragraphs (b) and (c), a right or interest (whether described as a unit or a sub-unit or otherwise) of a beneficiary under the scheme, or a right to any such right or interest; and

(b)for the purposes of the definition of listed trust, a right or interest (whether described as a unit or a sub-unit or otherwise) of a beneficiary under the scheme that entitles the beneficiary to participate proportionately with other unit holders in a distribution of the property of the trust on its vesting, other than a return of capital paid in respect of the unit; and

(c)for the purposes of the definition of widely held trust and Part 2 of Chapter 3—

(i)a right or interest (whether described as a unit or a sub‑unit or otherwise) of a beneficiary under the scheme that entitles the beneficiary to participate proportionately with other unit holders in a distribution of the property of the trust on its vesting; or

(ii)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;

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Victorian company means—

(a)a company incorporated or taken to be incorporated under the Corporations Act that is taken to be registered in Victoria; or

(b)any other body corporate that is incorporated under a Victorian Act;

voting power has the same meaning as in the Foreign Acquisitions and Takeovers Act 1975 of the Commonwealth;

wholesale unit trust scheme means a unit trust scheme that is registered under Division 6 of Part 2 of Chapter 3 as a wholesale unit trust scheme, an imminent wholesale unit trust scheme or a declared wholesale unit trust scheme;

widely held trust means a unit trust scheme—

*                *                *                *                *

(b)that has not less than 300 registered unitholders; and

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(d)none of the registered unitholders in which, either individually or together with associated persons, holds or is entitled to more than 20% of the units in the scheme.

(2)The Governor in Council, by order published in the Government Gazette, may declare—

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(d)the extent to which a pool of assets consists of mortgages or money paid under mortgages, or both, to be a pool of mortgages;

(e)a class of assets to be assets included in a pool of mortgages.

(2A)The Treasurer, by notice published in the Government Gazette, may declare one or more of the following—

(a)a class of business to be a class of business for the purposes of paragraph (g) of the definition of business insurance;

(b)a kind of insurance to be a kind of insurance that is excluded from the definition of business insurance.

(3)For the purposes of the definition of domestic relationship in subsection (1)—

(a)registered domestic relationship has the same meaning as in the Relationships Act 2008; and

(b)in determining whether persons who are not in a registered domestic relationship are in a domestic relationship, all the circumstances of their relationship are to be taken into account, including any one or more of the matters referred to in section 35(2) of the Relationships Act 2008 as may be relevant in a particular case.

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(4A)For the purposes of the definition of equivalent exchange in subsection (1), the requirements are—

(a)the entity must lodge a prospectus or product disclosure statement (or an equivalent document approved by the exchange) with the Australian Securities and Investments Commission; and

(b)either—

(i)the following apply—

(A)the entity must have at least 400 security holders each having a parcel of the main class of securities on issue with a value of at least $2000; and

(B)persons who are associated persons of the entity must hold no more than 25% of the total number of securities in the main class of securities; or

(ii)the entity must have at least 500 security holders each having a parcel of the main class of securities on issue with a value of at least $2000; and

(c)the entity must have—

(i)net tangible assets of at least $2 000 000 at the time of listing; or

(ii)a market capitalisation of at least $10 000 000.

(5)For the purposes of the definition of widely held trust in subsection (1), if a registered unitholder holds units as a trustee of a number of different trusts, the unitholder is taken to be a separate registered unitholder in relation to each trust and the units held are taken to be separate unitholdings, except where the beneficiaries of the trusts are the same or associated persons.

3AWhat is a controlling interest for the purposes of the definition of foreign corporation?

(1)For the purposes of the definition of foreign corporation in section 3(1), a person has a controlling interest in a corporation if the person—

(a)is in a position to control more than 50% of the voting power in the corporation; or

(b)is in a position to control more than 50% of the potential voting power in the corporation; or

(c)has an interest in more than 50% of the issued shares in the corporation; or

(d)is a person in respect of whom the Commissioner has made a determination under section 3C.

(2)Subsection (1) applies whether or not the person has the controlling interest—

(a)alone; or

(b)together with—

(i)an associated person; or

(ii)a foreign natural person, foreign corporation or trustee of a foreign trust.

(3)For the purposes of this section, a reference to control of the voting power in a corporation is a reference to control that is direct or indirect, including control that is exercisable as a result or by means of arrangements or practices, whether or not having legal or equitable force, and whether or not based on legal or equitable rights.

(4)For the purposes of this section, to determine how much potential voting power a person is in a position to control at a particular time, section 22(3) of the Foreign Acquisitions and Takeovers Act 1975 of the Commonwealth is to be applied.

3BWhat is a substantial interest in a trust estate for the purposes of the definition of foreign trust?

(1)For the purposes of the definition of foreign trust in section 3(1), a person has a substantial interest in the trust estate of a trust if—

(a)the person has a beneficial interest of more than 50% of the capital of the estate of the trust; or

(b)the Commissioner has made a determination under section 3D in respect of the person.

(2)If, under the terms of a trust, a trustee has a power or discretion as to the distribution of the capital of the trust estate to a person or a member of a class of person, any such person is taken to have a beneficial interest in the maximum percentage of the capital of the trust estate that the trustee is empowered to distribute to that person.

(3)Subsection (1) applies whether or not the person has the substantial interest—

(a)alone; or

(b)together with—

(i)an associated person; or

(ii)a foreign natural person, foreign corporation or trustee of a foreign trust.

3CCommissioner may determine person has a controlling interest in a corporation

(1)For the purposes of section 3A(1)(d), the Commissioner may determine that a person has a controlling interest in a corporation if, in the Commissioner's opinion, the person has the capacity to determine or influence, directly or indirectly, the outcome of decisions about the corporation's financial and operating policies, taking into account—

(a)the practical influence the person can exert in addition to any rights the person can enforce; and

(b)any practice or behaviour affecting the corporation's financial or operating polices (even if that practice or pattern of behaviour involves the breach of an agreement or a breach of trust).

(2)This section applies regardless of any interests that any other person has in the corporation.

3DCommissioner may determine person has a substantial interest in a trust

(1)For the purposes of section 3B(1)(b), the Commissioner may determine that a person has a substantial interest in a trust estate if, in the Commissioner's opinion, the person has the capacity to determine or influence the outcome of decisions about the administration and conduct of the trust, taking into account—

(a)the practical influence the person can exert in addition to any rights the person can enforce; and

(b)any practice or behaviour affecting the trustee's administration and conduct of the trust (even if that practice or pattern of behaviour involves the breach of an agreement or a breach of trust).

(2)This section applies regardless of any interests that any other person has in the trust estate.

3EExemptions from holding controlling interests in foreign corporations or substantial interests in trust estates of foreign trusts

(1)Despite sections 3A, 3B, 3C and 3D, a person is taken not to have a controlling interest in a foreign corporation, or a substantial interest in the trust estate of a foreign trust, if the person has an exemption under subsection (2).

(2)The Treasurer, for the purposes of subsection (1), may, in writing, exempt a person who has a controlling interest in a foreign corporation, or a substantial interest in the trust estate of a foreign trust, if the Treasurer is satisfied that, having regard to any one or more of the following matters, the person should not be taken to have that interest—

(a)in the case of a person who has a controlling interest in a foreign corporation—

(i)the nature and degree of ownership and control the person has in the corporation;

(ii)the practical influence the person exerts or any rights the person enforces to determine or influence, directly or indirectly, the outcome of decisions about the corporation's financial and operating policies;

(iii)any practice or behaviour of the person affecting the corporation's financial or operating policies;

(iv)any other relevant circumstances;

(b)in the case of a person who has a substantial interest in the trust estate of a foreign trust—

(i)the nature and degree of the person's beneficial interest in the capital of the estate of the trust;

(ii)the practical influence the person exerts or any rights the person enforces to determine or influence, directly or indirectly, the outcome of decisions about the administration and conduct of the trust;

(iii)any practice or behaviour of the person affecting the trustee's administration and conduct of the trust;

(iv)any other relevant circumstances.

(3)At least once every 12 months the Treasurer must cause to be laid before each House of Parliament, and publish on an appropriate government website, a report setting out—

(a)in respect of the exemptions (if any) granted by the Treasurer under subsection (2) during the period covered by the report—

(i)the number of exemptions; and

(ii)the name of each foreign corporation or foreign trust in relation to which an exemption was granted; and

(iii)the value of each exemption, being the amount of duty foregone, or likely to be foregone, by the State because of the exemption; and

(b)in respect of the exemptions (if any) granted by the Commissioner or a member of staff of the State Revenue Office during the period covered by the report under a delegation under section 3F—

(i)the number of exemptions; and

(ii)the total value of the exemptions, being the total amount of duty foregone, or likely to be foregone, by the State because of the exemptions.

(4)The Treasurer must issue guidelines for the exercise of the power of exemption under subsection (2).

(5)The Treasurer must cause guidelines issued under subsection (4) to be published in the Government Gazette.

(6)Guidelines issued under subsection (4) are not a legislative instrument within the meaning of the Subordinate Legislation Act 1994.

3FDelegation of exemption power

(1)The Treasurer may delegate, by instrument, to the Commissioner—

(a)the power of the Treasurer to exempt a person under section 3E(2);

(b)the power to delegate the power delegated under paragraph (a).

(2)If power has been delegated under subsection (1)(b), the Commissioner may, subject to the terms of the instrument of delegation, sub-delegate, by instrument, to a member of staff of the State Revenue Office the power that is the subject of the delegation, other than the power of sub‑delegation.

(3)Subject to subsection (4), sections 42 and 42A of the Interpretation of Legislation Act 1984 apply in relation to a sub-delegation in the same manner as they apply in relation to a delegation.

(4)Despite section 42A(1)(a) of the Interpretation of Legislation Act 1984, the Treasurer cannot exercise the power to exempt a person under section 3E(2) while a delegation under subsection (1)(a) is in effect.

(5)In this section—

member of staff of the State Revenue Office means—

(a)an employee referred to in section 67 of the Taxation Administration Act 1997; or

(b)a consultant or contractor engaged under section 68 of that Act.

3GWhat is residential property?

(1)Residential property is—

(a)land capable of being used solely or primarily for residential purposes and that may lawfully be used in that way; or

(b)land which includes a building, or part of a building, that a person intends to refurbish or extend so the land is capable of being used solely or primarily for residential purposes and may lawfully be used in that way; or

49State Taxation Acts Amendment Act 2019—agreements and arrangements for significant interest foreign purchaser acquisitions

(1)This clause applies if—

(a)a foreign purchaser entered into an agreement or arrangement on or after 1 July 2016 but before 1 July 2019 for the acquisition of an interest in a landholder that holds a land-related interest in residential property; and

(b)the acquisition, when made, is an acquisition of an interest referred to in section 78(1)(a)(i).

(2)Despite anything in this Act, if any duty is chargeable under Part 2 of Chapter 3 and is required to be calculated in accordance with section 86(1), that duty must be calculated in accordance with that subsection but using the rate specified under this Act that would have applied if the acquisition of the interest was made on the day the agreement or arrangement was entered into by the foreign purchaser.

50State Taxation Acts Amendment Act 2019—agreements and arrangements for aggregated significant interest foreign purchaser acquisitions

(1)This clause applies if—

(a)a foreign purchaser entered into an agreement or arrangement on or after 1 July 2016 but before 1 July 2019 for the acquisition of an interest in a landholder that holds a land-related interest in residential property; and

(b)the acquisition, when made, is an acquisition of an interest referred to in section 78(1)(a)(ii), or after it is made, becomes an interest of that kind.

(2)Despite anything in this Act, if any duty is chargeable under Part 2 of Chapter 3 and is required to be calculated in accordance with section 86(3), that duty must be calculated in accordance with that subsection but using the rate specified under this Act that would have applied if the acquisition of the interest was made on the day the agreement or arrangement was entered into by the foreign purchaser.

51State Taxation Acts Amendment Act 2019—agreements and arrangements for foreign purchaser acquisitions of further interests

(1)This clause applies if—

(a)a foreign purchaser entered into an agreement or arrangement on or after 1 July 2016 but before 1 July 2019 for the acquisition of an interest in a landholder that holds a land-related interest in residential property; and

(b)the acquisition, when made, is an acquisition of a further interest in the landholder referred to in section 78(1)(b).

(2)Despite anything in this Act, if any duty is chargeable under Part 2 of Chapter 3 and is required to be calculated in accordance with section 86(4), that duty must be calculated in accordance with that subsection but using the rate specified under this Act that would have applied if the acquisition was made on the day the agreement or acquisition was entered into by the foreign purchaser.

52State Taxation Acts Amendment Act 2019—corporate reconstructions

(1)The old provisions apply in respect of an eligible transaction (within the meaning of section 250A as in force immediately before 1 July 2019) if the agreement or arrangement for the eligible transaction was entered into before 1 July 2019.

(2)Without limiting subclause (1), the Commissioner may—

(a)on application, grant an exemption under the old provisions in respect of an eligible transaction the agreement or arrangement for which was entered into before 1 July 2019; and

(b)revoke or deal with the exemption under the old provisions as if they had not been amended by the State Taxation Acts Amendment Act 2019.

(3)Despite the State Taxation Acts Amendment Act 2019, an exemption granted by the Commissioner under the old provisions that is in effect immediately before 1 July 2019—

(a)continues in effect on and after that day; and

(b)the old provisions continue to apply to the exemption.

(4)In this clause—

old provisions means Division 1 of Part 2 of Chapter 11 as in force immediately before 1 July 2019.

53State Taxation Acts Amendment Act 2019—corporate consolidations

(1)The old provisions apply in respect of an eligible transaction (within the meaning of section 250DC as in force immediately before 1 July 2019) if the agreement or arrangement for the eligible transaction was entered into before 1 July 2019.

(2)Without limiting subclause (1), the Commissioner may—

(a)on application, grant an exemption under the old provisions in respect of an eligible transaction the agreement or arrangement for which was entered into before 1 July 2019; and

(b)revoke or deal with the exemption under the old provisions as if they had not been amended by the State Taxation Acts Amendment Act 2019.

(3)Despite the State Taxation Acts Amendment Act 2019, an exemption granted by the Commissioner under the old provisions that is in effect immediately before 1 July 2019—

(a)continues in effect on and after that day; and

(b)the old provisions continue to apply to the exemption. 

(4)In this clause—

old provisions means Division 1A of Part 2 of Chapter 11 as in force immediately before 1 July 2019.

54State Taxation Acts Amendment Act 2019—exchange of stapled ownership interests for ownership interests in a unit trust scheme

(1)The old provisions apply in respect of a relevant acquisition to which section 83 applies made in the course of, or as a result of, a roll-over (within the meaning of section 250DH) if the agreement or arrangement for the relevant acquisition was entered into before 1 July 2019.

(2)Without limiting subclause (1), the Commissioner may—

(a)on application, grant an exemption under the old provisions in respect of a relevant acquisition to which section 83 applies made in the course of, or as a result of, a roll-over (within the meaning of section 250DH) the agreement or arrangement for which was entered into before 1 July 2019; and

(b)revoke or deal with the exemption under the old provisions as if they had not been amended by the State Taxation Acts Amendment Act 2019.

(3)Despite the State Taxation Acts Amendment Act 2019, an exemption granted by the Commissioner under the old provisions that is in effect immediately before 1 July 2019—

(a)continues in effect on and after that day; and

(b)the old provisions continue to apply to the exemption. 

(4)In this clause—

old provisions means Division 1B of Part 2 of Chapter 11 as in force immediately before 1 July 2019.

55State Taxation Acts Amendment Act 2019—penalties and interest under Division 2 of Part 2 of Chapter 11

Despite the repeal of Division 2 of Part 2 of Chapter 11 by the State Taxation Acts Amendment Act 2019, that Division as in force immediately before 1 July 2019 continues to apply in relation to any exemption that is revoked—

(a)under Division 1, 1A or 1B of Part 2 of Chapter 11 as in force immediately before 1 July 2019; or

(b)under Division 1, 1A or 1B of Part 2 of Chapter 11 as continued under clauses 52, 53 or 54.

56State Taxation Acts Further Amendment Act 2019—young farmers

(1)Division 7 of Part 5 of Chapter 2, as in force immediately before the commencement day, continues to apply in respect of a transfer of dutiable property on or after that day if the contract for the transfer was entered into before that day.

(2)In this clause—

commencement day means the day on which Division 1 of Part 2 of the State Taxation Acts Further Amendment Act 2019 comes into operation.

57State Taxation Acts Further Amendment Act 2019—insurance duty

Chapter 8 must be taken to have applied at all times on and after 1 July 2014 as if the amendments made to that Chapter by section 7 of the State Taxation Acts Further Amendment Act 2019 had come into operation on that day.

Note

1 July 2014 is the date on which the amendments to Chapter 8 made by the Building a Better Victoria (State Tax and Other Legislation Amendment) Act 2014 came into operation.

58State Taxation and Mental Health Acts Amendment Act 2021—general rate of duty

Section 28(1), as in force immediately before the commencement of section 6 of the State Taxation and Mental Health Acts Amendment Act 2021, continues to apply in respect of a dutiable transaction or an acquisition of an interest in a landholder that occurs on or after that commencement under an agreement or arrangement entered into before that commencement.

59State Taxation Acts Amendment Act 2023—Division 5 of Part 5 of Chapter 2

(1)Division 5 of Part 5 of Chapter 2 and section 57FC(4), as in force immediately before 1 July 2023, continue to apply to a transfer to an eligible pensioner, within the meaning of that Division as in force immediately before 1 July 2023, of dutiable property, being an estate in fee simple in land, if the contract of sale of the land was entered into before 1 July 2023.

(2)A taxpayer is entitled to a refund of any duty paid on or after 1 July 2023 that is not payable because of subclause (1).

60State Taxation Further Amendment Act 2024—friendly societies

(1)No duty is chargeable under Chapter 2 in respect of a transfer of dutiable property to a friendly society if the contract or other arrangement giving effect to the transfer is entered into before the commencement of section 16 of the State Taxation Further Amendment Act 2024.

(2)No duty is chargeable under Chapter 2 in respect of a declaration of trust over dutiable property to be held on trust for a friendly society if the declaration is made before the commencement of section 16 of the State Taxation Further Amendment Act 2024.

═══════════════

ENDNOTES

1   General information

See for Victorian Bills, Acts and current Versions of legislation and up-to-date legislative information.

Minister's second reading speech—

Legislative Assembly: 5 October 2000

Legislative Council: 1 November 2000

The long title for the Bill for this Act was "to create and charge a number of duties, to repeal the Stamps Act 1958, to make consequential amendments to other Acts and for other purposes."

The Duties Act 2000 was assented to on 28 November 2000 and came into operation on 1 July 2001: section 2.

INTERPRETATION OF LEGISLATION ACT 1984 (ILA)

Style changes

Section 54A of the ILA authorises the making of the style changes set out in Schedule 1 to that Act.

References to ILA s. 39B

Sidenotes which cite ILA s. 39B refer to section 39B of the ILA which provides that where an undivided section or clause of a Schedule is amended by the insertion of one or more subsections or subclauses, the original section or clause becomes subsection or subclause (1) and is amended by the insertion of the expression "(1)" at the beginning of the original section or clause.

Interpretation

As from 1 January 2001, amendments to section 36 of the ILA have the following effects:

•     Headings

All headings included in an Act which is passed on or after 1 January 2001 form part of that Act.  Any heading inserted in an Act which was passed before 1 January 2001, by an Act passed on or after 1 January 2001, forms part of that Act.  This includes headings to Parts, Divisions or Subdivisions in a Schedule; sections; clauses; items; tables; columns; examples; diagrams; notes or forms.  See section 36(1A)(2A).

•     Examples, diagrams or notes

All examples, diagrams or notes included in an Act which is passed on or after 1 January 2001 form part of that Act.  Any examples, diagrams or notes inserted in an Act which was passed before 1 January 2001, by an Act passed on or after 1 January 2001, form part of that Act.  See section 36(3A).

•     Punctuation

All punctuation included in an Act which is passed on or after 1 January 2001 forms part of that Act.  Any punctuation inserted in an Act which was passed before 1 January 2001, by an Act passed on or after 1 January 2001, forms part of that Act.  See section 36(3B).

•     Provision numbers

All provision numbers included in an Act form part of that Act, whether inserted in the Act before, on or after 1 January 2001.  Provision numbers include section numbers, subsection numbers, paragraphs and subparagraphs.  See section 36(3C).

•     Location of "legislative items"

A "legislative item" is a penalty, an example or a note.  As from 13 October 2004, a legislative item relating to a provision of an Act is taken to be at the foot of that provision even if it is preceded or followed by another legislative item that relates to that provision.  For example, if a penalty at the foot of a provision is followed by a note, both of these legislative items will be regarded as being at the foot of that provision.  See section 36B.

•     Other material

Any explanatory memorandum, table of provisions, endnotes, index and other material printed after the Endnotes does not form part of an Act. 
See section 36(3)(3D)(3E).

2   Table of Amendments

This publication incorporates amendments made to the Duties Act 2000 by Acts and subordinate instruments.

–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––

Statute Law Amendment (Relationships) Act 2001, No. 27/2001

Assent Date:	12.6.01
Commencement Date:	S. 3(Sch. 1 item 2) on 23.8.01: Government Gazette 23.8.01 p. 1927
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Corporations (Consequential Amendments) Act 2001, No. 44/2001

Assent Date:	27.6.01
Commencement Date:	S. 3(Sch. item 32) on 15.7.01: s. 2
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Duties (Amendment) Act 2001, No. 46/2001

Assent Date:	27.6.01
Commencement Date:	Ss 3–31 on 1.7.01: s. 2(2)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts (Taxation Reform Implementation) Act 2001, No. 48/2001 (as amended by No. 29/2002)

Assent Date:	27.6.01
Commencement Date:	Ss 5–6(3), 7, 8 on 1.7.01: s. 2(3); s. 6(4) on 1.7.02: s. 2(4)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Legislation (Amendment) Act 2001, No. 79/2001

Assent Date:	27.11.01
Commencement Date:	Ss 3–11 on 28.11.01: s. 2
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Corporations (Financial Services Reform Amendments) Act 2002, No. 9/2002

Assent Date:	23.4.02
Commencement Date:	S. 3(Sch. item 4) on 23.4.02: s. 2
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Statute Law (Further Revision) Act 2002, No. 11/2002

Assent Date:	23.4.02
Commencement Date:	S. 3(Sch. 1 item 17) on 24.4.02: s. 2(1)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts (Further Tax Reform) Act 2002, No. 29/2002

Assent Date:	12.6.02
Commencement Date:	Ss 3, 5, 6 on 13.6.02: s. 2(1); s. 4 on 1.7.02: s. 2(2)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Legislation (Further Amendment) Act 2002, No. 30/2002

Assent Date:	12.6.02
Commencement Date:	Ss 3(1)(3), 4, 5, 7(2), 8(3), 13 on 1.7.01: s. 2(2); ss 6, 7(1), 8(1)(2), 15 on 13.6.02: s. 2(1); ss 3(2), 9–12, 14 on 1.7.02: s. 2(4)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts (Miscellaneous Amendments) Act 2003, No. 58/2003

Assent Date:	16.6.03
Commencement Date:	Ss 6, 13(2), 14, 17 on 1.7.01: s. 2(2); s. 4 on 8.2.03: s. 2(3); ss 3, 5, 7–12, 13(1), 15, 18 on 17.6.03: s. 2(1); s. 16 on 1.7.03: s. 2(5)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts (Further Miscellaneous Amendments) Act 2003, No. 113/2003

Assent Date:	9.12.03
Commencement Date:	S. 3 on 16.8.03: s. 2(3); ss 4–6 on 1.1.04: s. 2(2)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts (Tax Reform) Act 2004, No. 46/2004

Assent Date:	16.6.04
Commencement Date:	Ss 8–10, 16 on 1.5.04: s. 2(2); ss 3, 12, 17 on 13.5.04: s. 2(3); ss 4–7, 11, 13–15 on 17.6.04: s. 2(1)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts (Amendment) Act 2004, No. 71/2004

Assent Date:	19.10.04
Commencement Date:	Ss 4–28 on 20.10.04: s. 2(1)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Concessions Act 2004, No. 82/2004

Assent Date:	16.11.04
Commencement Date:	S. 13(Sch. item 2) on 1.3.05: s. 2(2)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts (General Amendment) Act 2005, No. 36/2005

Assent Date:	28.6.05
Commencement Date:	S. 13(1) on 13.5.04: s. 2(3); ss 19–21 on 31.3.05: s. 2(6); ss 6–11, 13(2)–18, 22 on 29.6.05: s. 2(1); s. 12 on 1.7.05: s. 2(7)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Duties and Land Tax Acts (Amendment) Act 2005, No. 85/2005

Assent Date:	29.11.05
Commencement Date:	S. 4 on 15.6.05: s. 2(2); ss 3, 5–17 on 30.11.05: s. 2(1)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Land Tax Act 2005, No. 88/2005

Assent Date:	29.11.05
Commencement Date:	S. 117(Sch. 2 item 1) on 1.1.06: s. 2
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation (Reductions and Concessions) Act 2006, No. 38/2006

Assent Date:	20.6.06
Commencement Date:	Ss 3–6 on 21.6.06: s. 2
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Legislation (Miscellaneous Amendments) Act 2006, No. 84/2006

Assent Date:	10.10.06
Commencement Date:	S. 6 on 1.7.06: s. 2(3); ss 3–5, 7 on 11.10.06: s. 2(1)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Legislation Amendment (Housing Affordability) Act 2006, No. 86/2006

Assent Date:	22.12.06
Commencement Date:	Ss 3–5 on 22.12.06: s. 2
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation and Gambling Legislation Amendment (Budget Measures) Act 2007, No. 22/2007

Assent Date:	12.6.07
Commencement Date:	S. 4 on 1.5.07: s. 2(2); s. 5 on 13.6.07: s. 2(1)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Payroll Tax Act 2007, No. 26/2007

Assent Date:	26.6.07
Commencement Date:	Ss 110, 111 on 1.7.07: s. 2(1)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Statute Law Revision Act 2007, No. 28/2007

Assent Date:	26.6.07
Commencement Date:	S. 3(Sch. item 18) on 27.6.07: s. 2(1)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2007, No. 33/2007

Assent Date:	24.7.07
Commencement Date:	Ss 3–8 on 25.7.07: s. 2
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Relationships Act 2008, No. 12/2008

Assent Date:	15.4.08
Commencement Date:	S. 73(1)(Sch. 1 item 17) on 1.12.08: s. 2(2)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2008, No. 31/2008

Assent Date:	17.6.08
Commencement Date:	Ss 5, 8–11 on 6.5.08: s. 2(2); ss 3, 4, 6, 7, 14 on 18.6.08: s. 2(1); ss 12, 13 on 1.7.08: s. 2(3)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Health Services Legislation Amendment Act 2008, No. 79/2008

Assent Date:	11.12.08
Commencement Date:	S. 16 on 31.3.09: Government Gazette 19.2.09 p. 328
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Further Amendment Act 2008, No. 84/2008

Assent Date:	11.12.08
Commencement Date:	Ss 3–9, 13 on 12.12.08: s. 2(1); ss 10, 11(1)(2), 12 on 1.1.09: s. 2(3); s. 11(3) on 1.7.10: Government Gazette 17.6.10 p. 1221
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Relationships Amendment (Caring Relationships) Act 2009, No. 4/2009

Assent Date:	10.2.09
Commencement Date:	S. 37(Sch. 1 item 10) on 1.12.09: s. 2(2)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2009, No. 37/2009

Assent Date:	30.6.09
Commencement Date:	Ss 3–7, 10, 11 on 1.7.09: s. 2(1); ss 8, 9 on 1.7.09: s. 2(2)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Duties Amendment Act 2009, No. 39/2009

Assent Date:	7.7.09
Commencement Date:	Ss 3–15 on 21.11.08: reg. 2(2)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Statute Law Amendment (Evidence Consequential Provisions) Act 2009, No. 69/2009

Assent Date:	24.11.09
Commencement Date:	S. 54(Sch. Pt 1 item 17) on 1.1.10: s. 2(2)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Fair Work (Commonwealth Powers) Amendment Act 2009, No. 74/2009

Assent Date:	1.12.09
Commencement Date:	S. 11 on 1.1.10: Government Gazette 10.12.09 p. 3215
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Consumer Affairs Legislation Amendment Act 2010, No. 1/2010

Assent Date:	9.2.10
Commencement Date:	S. 104 on 1.8.10: Government Gazette 22.7.10 p. 1628
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Transport Integration Act 2010, No. 6/2010 (as amended by No. 45/2010)

Assent Date:	2.3.10
Commencement Date:	S. 203(1)(Sch. 6 item 13) on 1.7.10: Special Gazette (No. 256) 30.6.10 p. 1
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Credit (Commonwealth Powers) Act 2010, No. 11/2010

Assent Date:	30.3.10
Commencement Date:	S. 42 on 1.7.10: Government Gazette 24.6.10 p. 1273
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2010, No. 36/2010

Assent Date:	15.6.10
Commencement Date:	Ss 3–8 on 16.6.10: s. 2(1); ss 9, 10 on 1.7.10: s. 2(2)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Residential Tenancies Amendment Act 2010, No. 67/2010

Assent Date:	28.9.10
Commencement Date:	S. 171 on 1.9.11: Special Gazette (No. 265) 16.8.11 p. 1
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Road Legislation Miscellaneous Amendments Act 2010, No. 75/2010

Assent Date:	19.10.10
Commencement Date:	S. 23 on 1.8.11: s. 2(2)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2011, No. 28/2011

Assent Date:	21.6.11
Commencement Date:	Ss 17, 18, 20–29 on 22.6.11: s. 2(1); ss 3–16, 19 on 1.7.11: s. 2(3)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Statute Law Revision Act 2011, No. 29/2011

Assent Date:	21.6.11
Commencement Date:	S. 3(Sch. 1 item 31) on 22.6.11: s. 2(1)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Transport Legislation Amendment (Public Transport Development Authority) Act 2011, No. 61/2011

Assent Date:	15.11.11
Commencement Date:	S. 25 on 15.12.11: Special Gazette (No. 407) 13.12.11 p. 1; Sch. 1 item 3 on 2.4.12: Special Gazette (No. 101) 27.3.12 p. 1
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Further Amendment Act 2011, No. 69/2011

Assent Date:	29.11.11
Commencement Date:	Ss 25, 26 on 30.11.11: s. 2(1); ss 5–24 on 1.4.12: s. 2(3)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Duties Amendment (Landholder) Act 2012, No. 38/2012

Assent Date:	27.6.12
Commencement Date:	Ss 4–15 on 1.7.12: s. 2
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2012, No. 42/2012

Assent Date:	27.6.12
Commencement Date:	Ss 3–5, 8 on 28.6.12: s. 2(1); ss 6, 7 on 1.7.12: s. 2(2)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Co-operatives National Law Application Act 2013, No. 9/2013

Assent Date:	13.3.13
Commencement Date:	S. 42(Sch. 2 item 7) on 3.3.14: Special Gazette (No. 46) 18.2.14 p. 1
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Statute Law Amendment (Directors' Liability) Act 2013, No. 13/2013

Assent Date:	13.3.13
Commencement Date:	S. 56 on 14.3.13: s. 2
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Tax Laws Amendment (Budget and Other Measures) Act 2013, No. 41/2013

Assent Date:	28.6.13
Commencement Date:	S. 27 on 1.7.12: s. 2(2); s. 13 on 8.5.13: s. 2(3); ss 14–26 on 29.6.13: s. 2(1)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Workplace Injury Rehabilitation and Compensation Act 2013, No. 67/2013

Assent Date:	12.11.13
Commencement Date:	S. 649(Sch. 9 item 12) on 1.7.14: s. 2(1)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation and Financial Legislation Amendment Act 2013, No. 69/2013

Assent Date:	19.11.13
Commencement Date:	Ss 9, 10 on 20.11.13: s. 2(1); ss 4–8 on 1.12.14: s. 2(4)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Statute Law Revision Act 2013, No. 70/2013

Assent Date:	19.11.13
Commencement Date:	Ss 3(Sch. 1 item 15), 4(Sch. 2 item 13) on 1.12.13: s. 2(1)
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Mental Health Act 2014, No. 26/2014

Assent Date:	8.4.14
Commencement Date:	S. 455(Sch. item 9) on 1.7.14: s. 2(1)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Building a Better Victoria (State Tax and Other Legislation Amendment) Act 2014, No. 40/2014

Assent Date:	17.6.14
Commencement Date:	Ss 3–10 on 1.7.14: s. 2(3)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2015, No. 26/2015

Assent Date:	29.6.15
Commencement Date:	S. 4 on 1.7.11: s. 2(2); s. 9 on 1.4.07: s. 2(3); ss 3, 5–8, 10, 12 on 30.6.15: s. 2(1); ss 11, 13, 14–24 on 1.7.15: s. 2(4)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Further Amendment Act 2015, No. 67/2015

Assent Date:	1.12.15
Commencement Date:	S. 3 on 1.1.16: s. 2(4)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation and Other Acts Amendment Act 2016, No. 40/2016

Assent Date:	28.6.16
Commencement Date:	Ss 3–10 on 1.7.16: s. 2(5)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Transport Integration Amendment (Head, Transport for Victoria and Other Governance Reforms) Act 2017, No. 3/2017

Assent Date:	14.2.17
Commencement Date:	S. 50(Sch. 1 item 2) on 12.4.17: Special Gazette (No. 117) 12.4.17 p. 1
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2017, No. 28/2017

Assent Date:	27.6.17
Commencement Date:	Ss 42–44 on 27.6.17: s. 2(1); ss 3–40, 47 on 28.6.17: s. 2(2); ss 41, 45, 46 on 1.7.17: s. 2(3)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Commercial Passenger Vehicle Industry Amendment (Further Reforms) Act 2017, No. 63/2017

Assent Date:	19.12.17
Commencement Date:	S. 21(Sch. 1 item 2) on 2.7.18: Special Gazette (No. 248) 29.5.18 p. 1
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Further Amendment Act 2017, No. 67/2017

Assent Date:	19.12.17
Commencement Date:	S. 5 on 1.7.15: s. 2(2); s. 6 on 20.12.17: s. 2(4)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2018, No. 22/2018

Assent Date:	13.6.18
Commencement Date:	Ss 3–12, 17–19 on 14.6.18: s. 2(1); ss 13–16 on 1.7.18: s. 2(3)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Guardianship and Administration Act 2019, No. 13/2019

Assent Date:	4.6.19
Commencement Date:	S. 221(Sch. 1 item 13) on 1.3.20: s. 2(2)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2019, No. 17/2019

Assent Date:	18.6.19
Commencement Date:	Ss 3–13, 34 on 19.6.19: s. 2(1); ss 14−33 on 1.7.19: s. 2(2)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Further Amendment Act 2019, No. 46/2019

Assent Date:	19.11.19
Commencement Date:	Ss 3−10 on 20.11.19: s. 2(1)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Transport Legislation Amendment Act 2019, No. 49/2019

Assent Date:	3.12.19
Commencement Date:	S. 186(Sch. 4 item 14) on 1.1.20: Special Gazette (No. 514) 10.12.19 p. 1
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

Local Government Act 2020, No. 9/2020

Assent Date:	24.3.20
Commencement Date:	S. 390(Sch. 1 item 27) on 6.4.20: Special Gazette (No. 150) 24.3.20 p. 1
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment (Relief Measures) Act 2020, No. 14/2020

Assent Date:	28.4.20
Commencement Date:	Ss 3–5 on 29.4.20: s. 2
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2020, No. 47/2020

Assent Date:	15.12.20
Commencement Date:	Ss 3–21 on 16.12.20: s. 2
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation and Mental Health Acts Amendment Act 2021, No. 22/2021

Assent Date:	16.6.21
Commencement Date:	Ss 3–10, 19 on 1.7.21: s. 2(1)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Social Services Regulation Act 2021, No. 37/2021 (as amended by No. 40/2022)

Assent Date:	21.9.21
Commencement Date:	S. 391 on 1.7.24: s. 2(2)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Suburban Rail Loop Act 2021, No. 43/2021

Assent Date:	19.10.21
Commencement Date:	S. 219(Sch. 1 item 4) on 1.12.21: Special Gazette (No. 649) 23.11.21 p. 1
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Windfall Gains Tax and State Taxation and Other Acts Further Amendment Act 2021, No. 52/2021

Assent Date:	30.11.21
Commencement Date:	Ss 45–47 on 1.12.21: s. 2(1)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation and Treasury Legislation Amendment Act 2022, No. 23/2022

Assent Date:	15.6.22
Commencement Date:	S. 12 on 1.7.22: s. 2(2)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Mental Health and Wellbeing Act 2022, No. 39/2022

Assent Date:	6.9.22
Commencement Date:	S. 823 on 1.9.23: s. 2(2)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Residential Tenancies, Housing and Social Services Regulation Amendment (Administration and Other Matters) Act 2022, No. 40/2022

Assent Date:	6.9.22
Commencement Date:	S. 51 on 7.9.22: s. 2(2)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2023, No. 18/2023[4]

Assent Date:	27.6.23
Commencement Date:	Ss 3−5, 20−22 on 28.6.23: s. 2(3); ss 6–14, 15(2)–19 on 1.7.23: s. 2(4)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Victorian Future Fund Act 2023, No. 19/2023

Assent Date:	27.6.23
Commencement Date:	S. 14 on 22.8.23: Special Gazette (No. 447) 22.8.23 p. 1
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts and Other Acts Amendment Act 2023, No. 38/2023

Assent Date:	12.12.23
Commencement Date:	Ss 3–12 on 13.12.23: s. 2(1)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Commercial and Industrial Property Tax Reform Act 2024, No. 16/2024

Assent Date:	21.5.24
Commencement Date:	Ss 36−42 on 1.7.24: s. 2
CurrentState:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Amendment Act 2024, No. 22/2024

Assent Date:	4.6.24
Commencement Date:	S. 3 on 5.6.24: s. 2(2); s. 4 on 1.1.25: s. 2(5)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Duties Amendment (More Homes) Act 2024, No. 45/2024

Assent Date:	19.11.24
Commencement Date:	S. 3 on 20.11.24: s. 2
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Further Amendment Act 2024, No. 50/2024

Assent Date:	3.12.24
Commencement Date:	Ss 3–30, 32, 33 on 4.12.24: s. 2(1); s. 31 on 1.1.25: s. 2(2)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Help to Buy (Commonwealth Powers) Act 2025, No. 10/2025

Assent Date:	8.4.25
Commencement Date:	Ss 12, 13 on 25.6.25: Special Gazette (No. 322) 24.6.25 p. 1
Current State:	This information relates only to the provision/s amending the Duties Act 2000

State Taxation Acts Amendment Act 2025, No. 24/2025

Assent Date:	24.6.25
Commencement Date:	Ss 6–12 on 25.6.25: s. 2(1)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

Roads and Ports Legislation Amendment (Road Safety and Other Matters) Act 2025, No. 25/2025

Assent Date:	5.8.25
Commencement Date:	S. 106(Sch. 1 item 12) on 6.8.25: s. 2(1)
Current State:	This information relates only to the provision/s amending the Duties Act 2000

–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––

3   Explanatory details

[1] S. 28(2): The rate of duty chargeable on dutiable transactions in respect of marketable securities is dealt with in section 29. Concessional rates of duty chargeable on certain dutiable transactions are dealt with in Part 5 of this Chapter.

[2] Chapter 3: This Chapter charges duty on certain transactions that are not dutiable transactions under Chapter 2. Duty is chargeable under Part 2 of this Chapter on the acquisition by a person of an interest consisting of certain shareholdings in a private company, or unitholdings in a private unit trust scheme, whose property in either case consists, to the prescribed extent, of land holdings.

The duty is chargeable at the general rate for a dutiable transaction under Chapter 2, rather than at the rate applicable to transfers of shares and units. An acquisition statement must be lodged when a majority interest is acquired or increased. Duty on an acquisition statement is chargeable only on interests acquired within a 3-year period. In certain cases the obligation to pay duty at the higher rate is phased-in (see section 87).

Duty is chargeable—

under Part 3 on transactions by which corporate capital is reduced by redemption, surrender or cancellation of shares or reduction of share value or alteration of share rights;

under Part 4 on the allotment of shares by direction.

[3] S. 105: Section 10 of the Financial Sector Reform (Victoria) Act 1999, No. 37/1999 provides that property transferred under Part 3 of the Financial Sector (Business Transfer and Group Restructure) Act 1999 of the Commonwealth (the Commonwealth Act) becomes the property of the receiving body when the certificate of transfer issued under section 18 of the Commonwealth Act comes into force under Division 3 of Part 3 of the Commonwealth Act.

[4] Table of Amendments (State Taxation Acts Amendment Act 2023): The amendment proposed by section 15(1) of the State Taxation Acts Amendment Act 2023, No. 18/2023 is not included in this publication because the heading to section 58 is not considered part of this Act: see section 36(2A) of the Interpretation of Legislation Act 1984, No. 10096/1984.

Section 15(1) reads as follows:

15Section 58 amended

(1)In the heading to section 58 of the Duties Act 2000, for "eligible pensioner?" substitute "eligible cardholder?".