Victorian Current Acts Victorian Current Acts(1) The duty charged by this Chapter on a dutiable transaction referred to in section 7(1)(b) is to be charged as if each such dutiable transaction were a transfer of dutiable property.
(2) Accordingly, for the purpose of charging duty under this Chapter, in relation to a dutiable transaction specified in Column 1 of the following Table—
(a) the property specified in Column 2 opposite the dutiable transaction is taken to be the property transferred (and a reference in this Act to property transferred includes a reference to such property); and
(b) the person specified in Column 3 opposite the dutiable transaction is taken to be the transferee of the dutiable property (and a reference in this Act to a transferee includes a reference to such a person); and
(c) the transfer of the dutiable property is taken to have occurred at the time specified in Column 4 opposite the dutiable transaction (and a reference in this Act to the time at which a transfer occurs includes a reference to such a time).
S. 8(2) (Table) amended by Nos 46/2001 s. 4, 71/2004 s. 7, 39/2009 s. 5.
TABLE
|
Column 1 |
Column 2 |
Column 3 |
Column 4 |
|---|---|---|---|
|
Dutiable transaction |
Property transferred |
Transferee |
When transfer occurs |
|
the property vested in the declarant as is subjected to the trust |
the person declaring the trust |
when the declaration becomes effective | |
|
surrender |
the surrendered dutiable property |
the person to whom the property is surrendered |
when the surrender takes place |
|
disclaimer |
the disclaimed interest or right under a will, codicil or estate |
the person who benefits from the disclaimer | |
|
vesting by statute law |
the vested land in Victoria |
the person in whom the property is vested |
when the vesting by statute law occurs |
|
vesting by court order |
the vested property |
the person in whom the property is vested |
when the order takes effect |
|
vesting by order of the Registrar of Titles |
the vested property |
the person in whom the property is vested |
when the order takes effect |
|
enlargement of interest into fee-simple |
the estate in fee simple |
the person in whom the term was previously vested |
when the interest is enlarged |
|
granting of a lease for consideration other than rent reserved |
the leased property |
the lessee |
when the lease is granted |
|
transfer or assignment of lease |
the leased property |
the transferee or assignee |
when the lease is transferred or assigned |
|
any other transaction that results in a change in beneficial ownership of dutiable property |
the property the beneficial ownership of which is changed |
the person who obtains the beneficial ownership or whose beneficial ownership is increased |
when beneficial ownership changes |