South Australia: Stamp Duties Act 1923 (SA)

South Australia Stamp Duties Act 1923 An Act relating to stamp duties. Contents Part 1—Preliminary provisions Division 1—Short title 1 Short title Division 2—Interpretative provisions 2 Interpretation 3 Taxation Administration Act Division 3—Territorial application of Act 3A Principles for determining territorial relationship 3B Territorial application of Act 3D Statutory licence Division 4—Stamp duty certificates 3E Commissioner may issue stamp duty certificate Part 2—General provisions with respect to stamp duties 4 Imposition of stamp duties 6 Denotation of duty 7 Distribution of stamps, commission etc 8 Stamps to be provided 11 Appropriate stamp to be used 13 How instruments to be stamped 14 Instruments to be separately charged 15A Ascertainment of value of property 16 Duty in force when instrument produced for stamping to apply 17 Duty payable in respect of instruments conditionally executed 18 Duty on other instruments 19A Certain copies dutiable 20 Time for payment of duty and stamping 21 Admissibility of unstamped instruments in evidence 22 Except as aforesaid no unstamped instrument to be received in evidence 23 Assessments and stamping of instruments 27 No instrument to be enrolled or registered unless stamped Part 3—Special provisions with respect to certain stamp duties Division 1—Agreements 30 When agreement comprised of several letters 31 Certain contracts to be chargeable as conveyances on sale Division 3—Insurance Subdivision 1—Interpretation 32 Interpretation Subdivision 2—Registration and payment of duty 33 Registration 34 Lodgement of statement and payment of duty—general insurance 35 Lodgement of statement and payment of duty—life insurance Subdivision 3—Exempt insurance 36 Certain premiums exempt from duty Subdivision 4—General 37 Denoting of duty 38 Duty in respect of policies effected outside South Australia 39 Insurers not required to be registered 40 Duty payable on acquisition of insurance business 41 Refunds Division 4—Application for motor vehicle registration 42A Interpretation 42B Duty on applications for motor vehicle registration or transfer of registration 42BA Concessional rate of duty on some applications to transfer registration 42C Refund of duty where vehicle returned or registration or transfer in error 42CA Refund of duty on eligibility for reduced fee 42D Taxation Administration Act and functions of Registrar 42E Regulations Division 6—Conveyances and conveyances on sale 60 Interpretation 60A Value of property conveyed or transferred 60B Refund of duty where transaction is rescinded or annulled 60C Refund of duty on reconveyance of property subject to a common law mortgage 61 Method or estimating value of consideration where consideration consists of shares 62 Land use entitlements 64 Consideration in case of lease 65 Where consideration consists of real or personal property 66 Where consideration is payable in instalments 67 Computation of duty where instruments are interrelated 68 Duty in certain cases 70 Evasion of duty 71 Instruments chargeable as conveyances 71AA Instruments disclaiming etc an interest in the estate of a deceased person 71A Provision where trust property distributed in specie 71CAA Special disability trusts 71CA Exemption from duty in respect of Family Law instruments 71CB Exemption from duty in respect of certain transfers between spouses etc or former spouses etc 71CBA Exemption from duty in respect of domestic partnership agreements or property adjustment orders 71CC Interfamilial transfer of farming property 71CD Duty on conveyances by Official Trustee etc 71D Concessional duty to encourage exploration activity 71DA Duty on certain conveyances between superannuation funds etc 71DB Concessional duty on purchases of off‑the‑plan apartments 71DC Concessional duty on designated real property transfers 71DD Relief from duty in respect of certain purchases of new homes and land 71DE Duty payable if relief ceases to be available Division 8—Transactions effected without creating dutiable instrument 71E Transactions otherwise than by dutiable instrument 71F Statutory transfers Division 9—Foreign ownership surcharge 72 Surcharge for foreign purchasers of residential land Division 11—LSS Fund levy 82B Interpretation 82C Lodgment of statement and payment of duty Part 4—Land holding entities Division 1—Preliminary 91 Interpretation 92 Land assets 93 Direct interests 94 Related entities 95 Indirect interests 96 Notional interest in assets of related entity 97 Widely held trusts 98 Land holding entity 99 Determination of value Division 2—Dutiable transactions 100 General principle of liability to duty 101 Aggregation of interests 102 Value of notional interest acquired as a result of dutiable transaction 102A Calculation of duty 102AB Surcharge where foreign person or group acquires interest in residential land Division 3—Payment and recovery of duty 102B Acquisition statement 102C Recovery from entity Division 4—Miscellaneous 102D Valuation of interest under contract or option to purchase land 102E Separation of statutory funds held by life companies 102F Exempt transactions and related matters 102G Multiple incidences of duty 102GA Operation of Part as in force after 1 July 2016 Part 4AA—Corporate group exemptions 102H Interpretation 102I Direct and indirect interests 102J Parent corporations and corporate groups 102K Transactions to which this Part applies 102L Exemption from duty 102M Application for exemption 102N Conditions of exemption 102O Revocation of exemption 102P Duty payable if transaction ceases to be exempt Part 4A—Abolition of various duties Division 3—Abolition of duty on conveyance or transfer of property other than land 104B Application of Division 104C Abolition of duty on conveyance or transfer of property other than land 104D Relevant rates 104E Non-derogation provision 104EA Application of Division as in force before 1 July 2016 Division 6—Abolition of duty on designated real property transfers 105A Abolition of duty on designated real property transfers Part 5—Miscellaneous provisions 106 Spoiled or unused stamps 107 Transfer of property to correct error 108 Penalties for certain offences 109 Anti-avoidance provision 111 Remedy for misappropriation 112 Regulations 114 Exemption from stamp duty Schedule 1—Transitional provisions 1 Commencement of consequential regulations 2 No refund of duty on cheque forms Schedule 2—Stamp duties and exemptions Part 1—Specified instruments Part 2—General exemptions from all stamp duties 16 General exemptions Schedule 3—Concessional duty on purchases of off‑the‑plan apartments—Area B Legislative history The Parliament of South Australia enacts as follows: Part 1—Preliminary provisions Division 1—Short title 1—Short title This Act may be cited as the Stamp Duties Act 1923. Division 2—Interpretative provisions 2—Interpretation (1) In this Act, unless it is otherwise provided or there is something in the context repugnant thereto— approved form means a form approved by the Commissioner; assessment means an assessment or reassessment by the Commissioner under Part 3 of the Taxation Administration Act 1996, and assess and assessed have corresponding meanings; beneficial interest means an equitable interest or an interest vested both at law and in equity in the holder of the interest and includes a potential beneficial interest; business of primary production means the business of agriculture, pasturage, horticulture, viticulture, apiculture, poultry farming, dairy farming, forestry or any other business consisting of the cultivation of soils, the gathering in of crops, the rearing of livestock or the propagation and harvesting of fish or other aquatic organisms; Commissioner means the person appointed or acting as the Commissioner of State Taxation, and includes a person appointed or acting as a Deputy Commissioner of State Taxation (see Part 9 of the Taxation Administration Act 1996); die means die or other machine or implement used for impressing or imprinting stamps upon documents; discretionary trust means an arrangement, however made, under which a person holds property, and the beneficial interest in all or any part of that property may be vested in a person (in this Act referred to as an object of the discretionary trust) on the exercise of a discretion, whether subject to any other contingency or not and whether the exercise of the discretion is obligatory or optional; domestic partner means a person who is a domestic partner within the meaning of the Family Relationships Act 1975, whether declared as such under that Act or not; duty means duty charged under this Act, and includes penalty tax and interest payable under Part 5 of the Taxation Administration Act 1996 in relation to duty under this Act; executed and execution, with reference to instruments not under seal, mean signed and signature; financial product means— (a) any stock, share or other similar security of a corporation (including a government, semi-government or municipal corporation), company or society; or (b) any debenture, debenture stock, bond, note or other similar security of a corporation (including a government, semi-government or municipal corporation), company or society (whether constituting a charge on the assets of the corporation, company or society or not); or (c) any interest in a managed investment scheme registered under Chapter 5C of the Corporations Act 2001 of the Commonwealth; or (f) any other stock, security or interest brought within the ambit of this definition by the regulations, and includes a right in respect of a financial product but does not include any stock, security or interest excluded from the ambit of this definition by the regulations; foreign person—see subsection (14); foreign trust—see subsection (14); forge includes counterfeit; GST means the tax payable under the GST law; GST law means— (a) A New Tax System (Goods and Services Tax) Act 1999 (Cwth); and (b) the related legislation of the Commonwealth dealing with the imposition of a tax on the supply of goods and services; impressed stamp means— (a) a stamp impressed or imprinted by means of a die; or (b) a record imprinted or made by means of any machine or implement, under the direction of the Commissioner in pursuance of this Act; instrument includes every written document; interest in property means a legal or equitable interest and includes a potential, contingent, expectant or inchoate interest; jurisdiction means— (a) a State or Territory of Australia; or (b) a country or place subject to the laws of a particular legislative authority; material means any sort of material upon which words or figures can be expressed; money includes all sums expressed in Australian or foreign currency; potential beneficial interest means the rights, expectancies or possibilities of an object of a discretionary trust in, or in relation to, property subject to the discretionary trust; property means real or personal property and includes— (b) an interest in property; quoted, in relation to any shares, units in a unit trust scheme or interests in such shares or units, includes— (a) shares, units or interests that have stopped being quoted on a recognised financial market merely because they belong to a class of shares, units or interests the quotation of which has been suspended, unless the body that issued the shares, units or interests has ceased to be included in the official list of the financial market; and (b) shares, units or interests that comprise a stapled security that is quoted on a recognised financial market; recognised financial market means— (a) a financial market operated by the Australian Securities Exchange Limited; or (b) a financial market of a stock exchange brought within the ambit of this definition by the regulations; records means records of any kind (whether in documentary or other form); rent includes an amount (however it may be described in a lease) to be paid by a lessee to a lessor to reimburse, offset or defray the lessor's liability to GST; right in respect of a financial product means a right, whether actual, prospective or contingent, of any person to have issued to him or her a financial product, whether or not on payment of any money or other consideration for the financial product; sale of property includes any transaction under which the property is converted into money; spouse—a person is the spouse of another if they are legally married; stamp means an impressed stamp; stamp duty certificate means a certificate issued under section 3E in relation to an instrument; stamp duty identification number means a stamp duty identification number as determined by the Commissioner; stamped means bearing an impressed stamp; State includes the Australian Capital Territory and the Northern Territory; stock means any share in the stocks or funds of any State or government, or in the capital stock or funded debt of any company, corporation or society (whether incorporated under a law of this or any other State, a law of the Commonwealth, or a law of any other place); transfer, in relation to property, means transfer, assure or vest at law or in equity (whether or not the transfer, assurance or vesting is subject to registration, the issue of a certificate of title or some other similar requirement); unit in relation to a unit trust scheme means a right or interest (however described) of a beneficiary under a unit trust scheme; unit trust scheme means an arrangement 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 or income arising from the acquisition, holding, management or disposal of any property subject to the trust; wholly foreign owned corporation—see subsection (14); wholly foreign owned trust—see subsection (14); write, written and writing include every mode in which words or figures can be expressed upon material. (2) An interest of a particular kind in the proceeds of the sale of property is, until the property is sold, taken to be an interest of the same kind in the property. Example— A beneficial interest in the proceeds of the sale of property is, until the property is sold, taken to be a beneficial interest in the property. (3) A person is taken to transfer a leasehold or other interest in land held from the Crown if the person surrenders the interest so that the Crown may grant to a person other than the surrenderor a leasehold or other interest in the land. (4) For the purposes of the application of this Act to and in relation to land (whether referred to as land, real property (or property when it is constituted by land) or a land asset under this Act), the following will be taken to be within the concept of land: (a) an estate or interest in land (including land covered by water); (b) without limiting paragraph (a), a right in relation to land brought within the ambit of this paragraph by subsection (5); (c) without limiting paragraph (a) or (b), any of the following or an estate or interest in any of the following: (i) a mining tenement; (ii) without limiting subparagraph (i), a pipeline constructed under the authority of a pipeline licence under the Petroleum and Geothermal Energy Act 2000; (iii) an interest conferred by a forestry property (vegetation) agreement (within the meaning of the Forest Property Act 2000). (5) For the purposes of paragraph (b) of subsection (4), the following are brought within the ambit of that paragraph by this subsection: (a) an option to acquire land; (b) subject to section 31, a right to acquire an estate or interest in land; (c) any other right or interest prescribed by the regulations. (6) Subsections (4) and (5) do not extend to— (a) a carbon right under the Forest Property Act 2000; or (b) a lease granted under the Aquaculture Act 2001, including a sublease of such a lease; or (c) any other interest excluded from the application of either subsection by the regulations. (7) For the purposes of this Act (other than Part 4), land will be taken to include anything fixed to land, including anything— (a) separately owned from the land; or (b) fixed to the land but notionally severed or considered to be legally separate to the land by virtue of or as a result of another Act or law (so that a separation by another Act for the purposes of that Act will not affect the operation of this paragraph for the purposes of the imposition and calculation of duty). (8) In connection with the operation of subsection (7)— (a) the subsection applies to all items fixed to the land whether or not they constitute fixtures at law; and (b) all fixtures at law will be taken to be within the application of the subsection. (9) However, if an item is separately owned from land or notionally severed or considered to be legally separate to land— (a) the item will not be taken to form part of a conveyance of the land unless the item is also conveyed; and (b) if the item remains fixed to the land (in the manner contemplated by the preceding subsections)—a conveyance of the item without a conveyance of the land is subject to duty as if it were a conveyance of land. (10) Subsection (9)(b) does not extend to a transportable home. (11) In this section— Mining Act means— (a) the Mining Act 1971; or (b) the Offshore Minerals Act 2000; or (c) the Opal Mining Act 1995; or (d) the Petroleum and Geothermal Energy Act 2000; mining tenement means a lease or licence granted— (a) under a Mining Act; or (b) under or on account of any other Act that confers, or that ratifies an indenture or other arrangement that confers, a right to explore for, or to recover, any minerals, resources or other materials or substances that would, but for that other Act, be subject to the operation of a Mining Act; transportable home means a structure that— (a) has the character of a dwelling; and (b) is designed— (i) to be fixed to the land when being used as a dwelling; but (ii) to be able to be moved in a state that would allow the structure to be reused as a dwelling at another place, but does not include, in any event, a caravan, campervan or other item that is capable of being registered under the Motor Vehicles Act 1959. (12) If an instrument under the Real Property Act 1886 is executed by a legal practitioner or a registered conveyancer on behalf of a person under a client authorisation (within the meaning of that Act), the instrument will be taken for the purposes of this Act to have been executed by the person who provided the authorisation. (13) A requirement under this Act for an instrument to be duly stamped will be taken to be satisfied if— (a) the Commissioner has issued a stamp duty certificate certifying as to the payment of duty in respect of the instrument; and (b) a stamp duty identification number appears on the instrument, and such instrument will, for the purposes of the law of the State, be treated in the same way as an instrument that has been duly stamped. (13a) If— (a) the Commissioner has issued a stamp duty certificate certifying that an instrument has been assessed as not chargeable with duty; and (b) a stamp duty identification number appears on the instrument, the instrument will, for the purposes of the law of the State, be treated in the same way as an instrument that has been stamped by the Commissioner with a stamp denoting that it is not chargeable with duty. (14) In this Act— (a) a person is a foreign person if— (i) in the case of a natural person—the person is not— (A) an Australian citizen within the meaning of the Australian Citizenship Act 2007 of the Commonwealth; or (B) the holder of a permanent visa within the meaning of section 30(1) of the Migration Act 1958 of the Commonwealth; or (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; or (ii) in the case of a corporation— (A) the corporation is incorporated in a jurisdiction that is not an Australian jurisdiction; or (B) a person who is a foreign person (by virtue of this paragraph) or a trustee for a foreign trust, or a number of such persons in combination— • holds or hold 50% or more of the corporation's shares; or • is or are entitled to cast, or control the casting of, 50% or more of the maximum number of votes at a general meeting of the corporation; and (b) a trust is a foreign trust if— (i) in the case of a trust where the beneficial interests are fixed—a beneficial interest of 50% or more of the capital of the trust property is held by 1 or more foreign persons; or (ii) in the case of a discretionary trust—1 or more of the following is a foreign person: (A) a trustee; (B) a person who has the power to appoint under the trust; (C) an identified object under the trust; (D) a person who takes capital of the trust property in default; and (c) a corporation is a wholly foreign owned corporation if a foreign person or the trustee for a foreign trust, or a number of such persons in combination— (i) holds or hold 100% of the corporation's shares; or (ii) is or are entitled to cast, or control the casting of, 100% of the maximum number of votes at a general meeting of the corporation; and (d) a trust is a wholly foreign owned trust if it is not a discretionary trust and a beneficial interest of 100% of the capital of the trust property is held by 1 or more foreign persons. (15) In subsection (14)— hold—a person holds property (including a security of a corporation) if the person— (a) is registered as the holder; or (b) is beneficially entitled to the property; or (c) controls the exercise of rights attached to the property. 3—Taxation Administration Act This Act should be read together with the Taxation Administration Act 1996 which makes provision for the administration and enforcement of this Act and other taxation laws. Division 3—Territorial application of Act 3A—Principles for determining territorial relationship (1) An instrument relates to property situated in a particular jurisdiction if it— (a) creates, transfers, redeems, renounces, surrenders, cancels or extinguishes an interest in property situated in the relevant jurisdiction; or (b) deals with an interest in property situated in the relevant jurisdiction in any other way; or (c) acknowledges, evidences or records a transaction to which paragraph (a) or (b) refers. (2) A potential, contingent, expectant or other inchoate interest is to be regarded as an interest in property in a particular jurisdiction if the realisation of the potentiality, contingency or expectancy, or the occurrence of any act or event necessary to perfect the interest could result in— (a) an interest in property situated in that jurisdiction; or (b) an interest in the proceeds of the sale of property situated in that jurisdiction. (3) For the purpose of calculating duty on an instrument that relates to a potential, contingent, expectant or other inchoate interest— (a) the interest is to be treated as an actual interest ie as if the potentiality, contingency or expectancy had been realised or anything necessary to perfect the interest had occurred; and (b) if the interest is dependent in any way on the exercise of a discretion or any other contingency, it will be presumed that the discretion has been exercised, or the contingency has been realised, so as to give rise to the greatest possible liability to duty in this State. (4) An interest in property is taken to be situated in the jurisdiction in which the property to which the interest relates is situated. 3B—Territorial application of Act (1) This Act applies in respect of an instrument that relates to property situated, or a matter or thing to be done, in South Australia irrespective of whether— (a) the instrument is within or outside South Australia; or (b) the instrument was executed within or outside South Australia. (2) If an instrument relates to property situated in part in South Australia and in part outside South Australia, duty is to be calculated as if the instrument related only to the property situated in South Australia. (3) This section operates subject to any other specific provision dealing with how duty is to be calculated on an instrument that relates to property within and outside South Australia.1 Note— 1 Section 81B deals with the duty payable on a mortgage over property within and outside the State. 3D—Statutory licence The property in a statutory licence granted under the law of South Australia, and in any rights deriving from such a licence, is taken to be situated in South Australia. Division 4—Stamp duty certificates 3E—Commissioner may issue stamp duty certificate (1) The Commissioner may, by notice published on a website determined by the Commissioner, determine classes of instruments that may be the subject of an application under this section. (2) The Commissioner may, on application by a person made in accordance with any requirements of the Commissioner, issue a certificate (a stamp duty certificate)— (a) certifying as to the payment of duty in respect of an instrument identified in the certificate; or (b) certifying that the instrument has been assessed as not chargeable with duty. (3) A stamp duty certificate must include the stamp duty identification number that is to appear on the instrument and may include any other information the Commissioner thinks fit. Part 2—General provisions with respect to stamp duties 4—Imposition of stamp duties (1) Subject to the exemptions contained in Schedule 2 and the other provisions of this Act, the stamp duties specified in that Schedule are charged in respect of the instruments specified in that Schedule. (2) The parties who executed an instrument are jointly and severally liable to pay the duty charged in respect of the instrument. 6—Denotation of duty (1) Subject to any express provision to the contrary, the payment of duty on an instrument is to be denoted on the instrument by an impressed stamp. 7—Distribution of stamps, commission etc (1) The Governor may appoint any person a distributor of stamps. (2) Any such distributor may be remunerated by a commission upon the value of stamps purchased for disposal by him, or by salary, or by any other allowance, and upon the sale of stamps to any such distributor such discount may be allowed as may be authorised by regulations made under this Act. 8—Stamps to be provided The Treasurer shall, for denoting the several duties chargeable under this Act, provide such stamps or dies as may be required for the purposes of this Act, and may do any other act which may be necessary for effectually collecting the duties. 11—Appropriate stamp to be used (1) A stamp which, by any word or words on the face of it, is appropriated to any particular description of instrument shall not be used for any instrument of another description. (2) An instrument falling under the particular description to which any stamp is so appropriated shall not be deemed duly stamped unless it is stamped with the stamp so appropriated. 13—How instruments to be stamped (1) Every instrument written upon stamped material shall be written in such manner, and every instrument partly or wholly written before being stamped shall be so stamped, that the stamp may appear on the face of the instrument and cannot be used for, or applied to, any other instrument written upon the same piece of material. (2) If more than one instrument is written upon the same piece of material, each one of those instruments shall be separately and distinctly stamped with the duty with which it is chargeable. 14—Instruments to be separately charged (1) Except where express provision is made to the contrary— (a) any instrument containing or relating to several distinct matters shall be separately and distinctly charged with duty in respect of each of such matters as if the portion of the instrument containing or relating to each such matter were a separate instrument. (2) Without limiting the effect of subsection (1), an instrument relating to classes of property that are chargeable with different rates of duty, or relating to a class of property chargeable with duty and a class of property not chargeable with duty, is to be treated for the purposes of this Act as if the provisions of the instrument relating to each of the different class of property were a separate instrument and related only to that class of property. (3) A person liable to pay duty on an instrument of a kind referred to in subsection (2) must provide the Commissioner with evidence of the value of each of the different classes of property conveyed or transferred by the instrument. 15A—Ascertainment of value of property (1) If the value of property is to be ascertained by reference to an actual or notional cost of acquisition, any component of the cost of acquisition that is referable to GST payable on its sale or supply is to be regarded as a component of its value. (2) In ascertaining the value of property for the purpose of assessing ad valorem duty on an instrument, the existence of an overriding power of revocation or reconveyance in that or any other instrument may be disregarded. 16—Duty in force when instrument produced for stamping to apply Subject to this Act, the duty chargeable upon any instrument shall be calculated according to the rates in force at the time when the instrument is produced to the Commissioner for the purpose of being stamped. 17—Duty payable in respect of instruments conditionally executed (1) Subject to subsection (2), an instrument that is executed conditionally by one or more parties is liable to duty as if it had been executed unconditionally. (2) If— (a) duty is paid on or in respect of an instrument that was executed conditionally by one or more of the parties; (b) the Commissioner is satisfied that, by reason of non-fulfilment of the condition, or recall of the execution, the instrument will never come into force, the Commissioner will, on application by a party who paid the duty and production of the instrument, cancel any stamp on the instrument and refund the amount of the duty paid. 18—Duty on other instruments Where the duty with which any instrument is chargeable depends in any manner upon the duty paid upon another instrument, the payment of the last mentioned duty may, on production of both the instruments, be denoted in such manner as the Commissioner thinks fit upon the first mentioned instrument. 19A—Certain copies dutiable (1) Notwithstanding any other provision of this Act, but subject to subsection (2), where an original instrument chargeable with duty under this Act has not been duly stamped or has been destroyed without being duly stamped, any copy of the instrument shall, for the purposes of this Act, be chargeable with duty as if it were the original and be deemed to have been executed by the person or persons who executed the original at the same time as the original was executed. (2) Where an original instrument or a copy of an instrument is duly stamped under this Act, the Commissioner shall, upon application and production of that original or copy, stamp any copy or further copy or the original, as the case may be, with a particular stamp denoting that it is duly stamped. (3) In this section— copy includes— (a) a duplicate or counterpart of an original instrument; or (b) an instrument that acknowledges, evidences or records the existence or terms of an original instrument; or (c) an instrument that acknowledges, evidences or records the transaction or a part of the transaction to which an original instrument relates or related. 20—Time for payment of duty and stamping (1) Subject to any express provision to the contrary, if an instrument is chargeable with duty, the duty must be paid and the instrument stamped— (a) in the case of an instrument executed in South Australia—within two months after its execution; or (b) in the case of an instrument executed outside South Australia—within two months after its receipt in South Australia or within six months after its execution, whichever period first expires. (2) If duty or further duty becomes chargeable on an instrument in consequence of an event occurring after its execution, the duty must be paid and the instrument stamped within two months after that event. (3) The payment in relation to an instrument of any penalty tax or interest under Part 5 of the Taxation Administration Act 1996 must be denoted on the instrument by a particular stamp. (4) If an instrument that is chargeable with stamp duty is not produced to the Commissioner for stamping within the period prescribed by this section, any person who executed the instrument, or on whose behalf it was executed, is guilty of an offence. Maximum penalty: $10 000. (5) Subsection (4) does not apply in relation to an instrument that has been duly stamped in some other manner authorised by this Act within the relevant period. (6) It is a defence to a charge against subsection (4) to prove that the defendant delivered the instrument or had it delivered into the possession of some other party, or an agent for some other party, to the instrument in the reasonable expectation that the other party would have it stamped. (7) The commission of an offence against subsection (4) does not affect the validity of the instrument in relation to which the offence was committed. 21—Admissibility of unstamped instruments in evidence Upon the production of any instrument chargeable with duty as evidence in any civil proceedings in any part of South Australia, the officer whose duty it is to read the instrument shall call the attention of the presiding judge, special magistrate or justices to any omission or insufficiency of the stamp thereon. 22—Except as aforesaid no unstamped instrument to be received in evidence No instrument chargeable with duty executed in any part of South Australia, or relating, wherever it was executed, to any property situated, or to any matter or thing done or to be done, in any part of South Australia, shall, except in criminal proceedings, be pleaded or given in evidence, or admitted to be good, useful or available at law or in equity, unless duly stamped. 23—Assessments and stamping of instruments (1) If the result of an assessment relating to an instrument is that the instrument is not chargeable with duty, the instrument may be stamped by the Commissioner with a particular stamp denoting that it is not chargeable with duty. (2) If the result of an assessment relating to an instrument is that the instrument is chargeable with duty or further duty, the instrument is, on payment of any duty or further duty payable in respect of the instrument, to be stamped or further stamped in accordance with the assessment, and, when so stamped, may also be stamped by the Commissioner with a particular stamp denoting that it is duly stamped. (3) If the result of an assessment relating to a stamped instrument is that duty or further duty is chargeable in respect of the instrument, the instrument is, from the date of the assessment until the duty or further duty is paid and the instrument is further stamped, to be taken to be insufficiently stamped, and this subsection applies despite the fact that the instrument has already been stamped, whether under this section or another provision of this Act, with a particular stamp denoting that it is not chargeable with duty or that it is duly stamped. (4) Every instrument stamped with the particular stamp denoting either that it is not chargeable with duty or that it is duly stamped shall, subject to subsection (3), be admissible in evidence and shall be available for all purposes, notwithstanding any objection relating to duty. (5) An instrument on which duty has been assessed by the Commissioner cannot be stamped except in accordance with that assessment unless the Commissioner reassesses duty on the instrument. 27—No instrument to be enrolled or registered unless stamped No person whose office it is to enrol, register or enter in or upon any rolls, books or records any instrument chargeable with any duty, or the memorial of any instrument chargeable with any duty, shall enrol, register or enter any such an instrument or memorial unless the instrument is duly stamped. Part 3—Special provisions with respect to certain stamp duties Division 1—Agreements 30—When agreement comprised of several letters In any case where an agreement is constituted by two or more letters, the agreement and all the letters shall be deemed to be duly stamped if any one of the letters is duly stamped with the duty payable upon the agreement. 31—Certain contracts to be chargeable as conveyances on sale (1) Any contract or agreement in writing for the sale of any estate or interest in any property (including goods, wares and merchandise not being goods, wares and merchandise agreed to be sold in the ordinary course of trade by a party whose business is or includes the sale of such goods, wares and merchandise) except— (a) property which cannot vest in the purchaser except upon registration of a conveyance; or (c) stock or shares in the stock, funds or capital of any corporation, company or society, shall be charged with the same ad valorem duty as if it were an actual conveyance on sale of the estate or interest contracted or agreed to be sold. (1a) For the purpose of calculating ad valorem duty payable on a contract or agreement under subsection (1), the value of the estate or interest contracted or agreed to be sold is to be determined on the basis that the consideration specified as being payable for the estate or interest represents the value of the estate or interest. (1b) However, if it appears to the Commissioner that the consideration specified as being payable for the estate or interest may be less than the value of the estate or interest and— (a) no evidence of the value of the estate or interest is furnished to the Commissioner; or (b) evidence of the value of the estate or interest furnished to the Commissioner is, in the Commissioner's opinion, unsatisfactory, the Commissioner may cause a valuation of the estate or interest to be made by a person appointed by the Commissioner and may assess the duty payable by reference to the valuation. (1c) The Commissioner may, having regard to the merits of the case, charge the whole or a part of the expenses of, or incidental to, the making of a valuation under subsection (1b) to the person liable to pay the duty and may recover the amount so charged from the person as a debt due to the Crown. (2) If duty has been duly paid on a contract or agreement in accordance with subsection (1), the following provisions apply: (a) any conveyance made to the purchaser under the contract or agreement is chargeable with duty only if the value of the estate or interest under the conveyance on the date of the conveyance is greater than the consideration specified in the contract or agreement or on account of an assessment under subsection (1b) (as the case requires); (b) if the conveyance is chargeable with duty under paragraph (a), the amount of duty paid on the contract or agreement is to be deducted from the duty payable on the conveyance; (c) if the conveyance is not chargeable with duty under paragraph (a), the Commissioner, on application and on the production of the contract or agreement duly stamped, must stamp the conveyance with a particular stamp denoting that it is duly stamped. (3) For the purposes of this section, a receipt for the payment, in pursuance of any contract or agreement, of any purchase money shall, in the absence of any further or other instrument being or evidencing the contract or agreement, be charged with ad valorem duty. (4) If any such contract or agreement as is mentioned in subsection (1) is afterwards rescinded or annulled, or for any other reason is not substantially performed or carried into effect so as to operate as, or to be followed by, a conveyance, the person who paid the ad valorem duty upon the contract or agreement shall be deemed to be possessed of stamped material rendered useless by being inadvertently spoiled, within the meaning of section 106, and the provisions of that section shall apply accordingly. (5) This section shall not apply to, or in respect of, any hire-purchase agreement within the meaning of this Act. Division 3—Insurance Subdivision 1—Interpretation 32—Interpretation (1) In this Act— company includes corporation and society (whether incorporated or unincorporated); firm includes an association of underwriters carrying on marine insurance business through a managing underwriter solely; general insurer means an insurer who carries on insurance business in respect of insurance that is not life insurance; insurance includes assurance; insurance business means— (a) the granting or issuing of life, personal accident, fire, fidelity, guarantee, livestock, plate glass, marine or other insurance; or (b) the acceptance, either directly or indirectly, of any premium, renewal premium or consideration for, or in respect of, the granting or issuing or keeping alive or in force of life, personal accident, fire, fidelity, guarantee, livestock, plate glass, marine or other insurance; or (c) the receiving of a letter or declaration of interest attaching to a policy of insurance issued in this State or elsewhere; or (d) the carrying out, by means of insurance effected out of this State, of a contract or undertaking to effect insurance, whether formal or informal and whether express or implied; insurer means a company, person or firm that carries on insurance business; life insurance means insurance of a contingency that is dependent on the duration of human life, but does not include personal accident insurance; life insurer means an insurer who carries on insurance business in respect of life insurance; multi-peril crop insurance means insurance covering the total or partial loss of crops resulting from drought (whether or not the policy under which the insurance is provided also covers loss resulting from other perils); personal accident insurance means— (a) insurance covering personal accident or workers compensation; or (b) insurance under a policy complying with Part 4 of the Motor Vehicles Act 1959; or (c) insurance in respect of trauma or a disabling or incapacitating injury, sickness, condition or disease; policy includes an instrument in the nature of a policy, an open policy, an insurance cover or an instrument in any manner covering insurance; premium means an amount paid or payable for insurance and includes— (a) an amount charged to a policy holder to reimburse, offset or defray the insurer's liability for GST in respect of the insurance; and (b) a levy charged to a policy holder; and (c) an instalment of premium; and (d) a part of a premium; registered means registered under this Division. (2) If a provision of this Division refers to a premium paid, payable, received, charged or credited in relation to life insurance, or in relation to insurance of another kind, the reference is to be taken to be a reference to the premium to the extent that it was or is paid, payable, received, charged or credited in relation to insurance of the kind referred to in the provision. Subdivision 2—Registration and payment of duty 33—Registration (1) An insurer who carries on insurance business in the State must be registered under this Division. Maximum penalty: $10 000. (2) An application for registration under this Division must be made to the Commissioner in the approved form. (3) The Commissioner must register an insurer who applies in the approved form for registration under this Division. (4) A registered insurer who is no longer required to be registered may cancel the registration by notice to the Commissioner in the approved form. (5) For the purposes of this section, an insurer carries on insurance business in the State if the insurer grants or issues in the State— (a) life insurance or personal accident insurance for a person whose principal place of residence is in the State at the time that the policy providing the insurance is issued; or (b) general insurance for an insurance risk within the State, (whether the head office or principal place of business of the insurer is in the State or elsewhere). 34—Lodgement of statement and payment of duty—general insurance (1) A general insurer who is, or is required to be, registered is liable under this section to pay duty in respect of each premium relating to insurance of any kind (other than life insurance) paid to the insurer and must, for that purpose, on or before the 15th day of each month— (a) lodge with the Commissioner a statement in the approved form setting out the total amount of— (i) all such premiums received by the insurer in the previous month; and (ii) any such premiums credited to an account of the insurer (but not received by the insurer) in the previous month that the insurer chooses to include; and (b) pay to the Commissioner duty equivalent to 11% of that amount. (2) If a premium that is credited to an account of the insurer but not actually received by the insurer is included in the statement lodged under subsection (1) for the month in which the premium is credited, the insurer need not include the premium in the statement lodged for the month in which the premium is received by the insurer. (3) Subject to subsection (4), if a premium that is credited to an account of the insurer but not actually received by the insurer is not included in the statement lodged under subsection (1) for the month in which the premium is credited, the following provisions apply: (a) if the premium is received by the insurer during the period of 12 months commencing on the day on which the premium was credited to the account of the insurer—the insurer must include the premium in the statement lodged for the month in which the premium is received by the insurer; (b) if the premium is not received by the insurer within the 12 month period referred to in paragraph (a)— (i) the premium will be taken for the purposes of this section to have been received by the insurer in the first complete month following the end of that period; and (ii) the insurer must include the premium in the statement lodged for that month. (4) Subsection (3)(b) does not apply in relation to a premium that is not received by the insurer because the policy in relation to which the premium was credited is cancelled. (5) For the purposes of subsection (1)— (a) a reference to a premium does not include an amount in respect of stamp duty received or charged in respect of a premium; and (b) the amount of a premium— (i) refunded during the month to which the statement relates (whether the premium was received during that month or earlier); or (ii) paid for an insurance risk outside the State (other than a personal accident insurance risk); or (iii) paid for personal accident insurance in respect of a person whose principal place of residence was not in the State at the time the policy providing the insurance was issued, is not to be taken into account. (6) To avoid doubt, the duty payable under subsection (1) is payable in respect of a premium relating to insurance of any kind (other than life insurance), irrespective of whether the premium is payable under a policy in relation to which premiums are also payable for life insurance. 35—Lodgement of statement and payment of duty—life insurance (1) A life insurer who is, or is required to be, registered is liable under this section to pay duty in respect of each premium relating to life insurance paid to the insurer and must, for that purpose, on or before 31 January of each year— (a) lodge with the Commissioner a statement in the approved form setting out the total amount of— (i) all such premiums received by the insurer in the preceding calendar year; and (ii) any such premiums credited to an account of the insurer (but not received by the insurer) in the previous calendar year that the insurer chooses to include; and (b) pay to the Commissioner duty equivalent to 1.5% of that amount. (2) If a premium that is credited to an account of the insurer but not actually received by the insurer is included in the statement lodged under subsection (1) for the year in which the premium is credited, the insurer need not include the premium in the statement lodged for the year in which the premium is received by the insurer. (3) Subject to subsection (4), if— (a) a premium that is credited to an account of the insurer but not received by the insurer is not included in the statement lodged under subsection (1) for the year in which the premium is credited; and (b) the premium is not received by the insurer in the following calendar year, the premium will be taken, for the purposes of this section, to have been received by the insurer in that following calendar year and is therefore to be included in the statement for that year. (4) Subsection (3) does not apply in relation to a premium that is not received by the insurer because the policy in relation to which the premium was credited is cancelled. (5) For the purposes of subsection (1)— (a) a reference to a premium— (i) does not include an amount in respect of stamp duty received or charged in respect of a premium; and (ii) is a reference to a net premium, and any commission or discount is not to be taken into account; and (b) the amount of a premium paid for life insurance in respect of a person whose principal place of residence was not in the State at the time the policy providing the insurance was issued is not to be taken into account; and (c) the amount of a premium refunded during the year to which the statement relates (whether the premium was received during that year or earlier) is not to be taken into account; and (d) an amount that is paid from an account established for investment to an account established for insurance of a risk under a policy providing life insurance will be taken to be a premium received under that policy for insurance of that risk. (6) To avoid doubt, the duty payable under subsection (1) is payable in respect of a premium relating to life insurance, irrespective of whether the premium is payable under a policy in relation to which premiums are also payable for insurance that is not life insurance. Subdivision 3—Exempt insurance 36—Certain premiums exempt from duty The following premiums are exempt from duty under this Division: (a) a premium received or charged in respect of reinsurance; (b) a premium received or charged under a private guarantee fidelity insurance scheme promoted amongst and sustained solely for the benefit of the officers and servants of a particular public department, company, person or firm and not extended, either directly or indirectly, beyond such officers and servants; (c) a premium received or charged under a scheme referred to in paragraph (b) promoted amongst and sustained solely for the benefit of the officers and members of a friendly society or branch thereof and not extended, either directly or indirectly, beyond such officers and members; (d) a premium received or charged for life insurance in respect of investment and not in respect of a risk insured by the policy under which the premium is paid; (e) a premium received or charged in respect of a life or personal accident insurance risk where the principal place of residence of the insured person is in the Northern Territory and the policy under which the premium is paid is registered in a registry kept in the Northern Territory pursuant to the Life Insurance Act 1995 of the Commonwealth; (f) a premium received or charged under a policy of workers compensation insurance where the premium is referable to insurance against liability to pay workers compensation in respect of workers under the age of 25 years; (g) a premium received or charged under a policy of insurance by a body registered under Part 4‑3 of the Private Health Insurance Act 2007 of the Commonwealth where the premium is referable to insurance against medical, dental or hospital expenses; (h) a premium received or charged in respect of life insurance providing for the payment of an annuity to the person insured; (i) a premium received or charged in respect of the insurance of the hull of a marine craft used primarily for commercial purposes or in respect of the insurance of goods carried by railway, road, air or sea or of the freight on such goods; (j) a premium received or charged in respect of multi-peril crop insurance where the policy under which the premium is payable commenced on or after 1 January 2018. Subdivision 4—General 37—Denoting of duty The duty paid in connection with a statement lodged with the Commissioner under Subdivision 2 must be denoted on the statement. 38—Duty in respect of policies effected outside South Australia (1) A company, person or firm that is not required to be registered under section 33 and that obtains, effects or renews, outside the State, a policy of insurance wholly or partly in respect of property in the State, or a risk, contingency or event occurring in the State, must, within 1 month of obtaining, effecting or renewing the policy— (a) lodge with the Commissioner a statement in the approved form containing such particulars of the policy and other information as the Commissioner requires in the particular case; and (b) subject to subsection (2)—pay to the Commissioner duty equivalent to 11% of any premium paid to the insurer in respect of the policy. (2) The Commissioner may allow a rebate of the duty payable on the proportion of a premium that is, in the Commissioner's opinion, properly attributable to the insurance of property outside the State or a risk, contingency or event occurring outside the State. (3) Duty paid in accordance with this section must be denoted on the statement lodged under subsection (1). (4) A company, person or firm that does not lodge a statement as required under this section is nevertheless liable to pay duty to the Commissioner as if the company, person or firm had lodged the statement required under this section immediately before the end of the period allowed for such lodgement. (5) Subsection (1) does not apply to— (a) a policy of insurance under which the only insurance provided is life insurance; or (b) a premium paid to an insurer in respect of life insurance. 39—Insurers not required to be registered (1) The Commissioner may enter into an agreement with an insurer who is not required to register under this Division under which— (a) the Commissioner approves the insurer for the purposes of this section; and (b) the insurer undertakes to pay duty as if the insurer were required to be registered and were in fact registered under this Division. (2) A party to an agreement under this section may, by notice in writing to the other party, terminate the agreement at any time. (3) If an insurer is neither required to be registered under this Division nor approved under this section, a person who pays a premium to the insurer must, within 21 days after the end of the month in which the premium was paid— (a) furnish a statement to the Commissioner in the approved form stating the amount of premium; and (b) pay to the Commissioner— (i) if the premium relates to life insurance—duty equivalent to 1.5% of the premium; and (ii) if the premium relates to any other kind of insurance—11% of the premium. (4) This section does not apply in relation to a premium, supplementary payment or fee paid under Part 5 of the Workers Rehabilitation and Compensation Act 1986. 40—Duty payable on acquisition of insurance business If a company, person or firm acquires contractual rights and obligations of, or in connection with, the insurance business of some other company, person or firm, the acquiring company, person or firm is liable to pay to the Commissioner the amount of any unpaid duty in respect of premiums paid to the other company, person or firm after the end of the period in respect of which such duty was last paid by the other company, person or firm as if those premiums had been paid to the acquiring company, person or firm. 41—Refunds The following are to be taken to be overpayments of tax for the purposes of Part 4 of the Taxation Administration Act 1996: (a) duty paid in respect of an amount of premium that has been refunded; (b) duty paid in respect of a premium credited to an account of an insurer but not received by the insurer at the time the duty is paid if the policy in respect of which the premium was credited is cancelled before the insurer receives the premium. Division 4—Application for motor vehicle registration 42A—Interpretation (1) In this Act— applicant means a person by or on whose behalf an application to register a motor vehicle or an application to transfer the registration of a motor vehicle is made; application to register a motor vehicle means an application to register a motor vehicle made under the Motor Vehicles Act 1959 and includes an application so made to renew the registration of a motor vehicle; application to transfer the registration of a motor vehicle means an application to transfer the registration of a motor vehicle made under the provisions of the Motor Vehicles Act 1959; commercial motor vehicle has the same meaning as in the Motor Vehicles Act 1959; dealer means a person licensed as a dealer under the Second-hand Motor Vehicles Act 1983; list price means— (a) for a motor vehicle—the price (inclusive of GST) fixed by the manufacturer, importer or principal distributor as the retail selling price in the State of a motor vehicle of the relevant make and model; (b) for optional equipment—the additional price (inclusive of GST) so fixed if the vehicle is to be sold with the optional equipment; market value, in relation to a motor vehicle, means the amount (inclusive of GST) for which the motor vehicle might reasonably be sold, free of encumbrances, in the open market; motor vehicle and trailer have the same meanings as those expressions respectively have in the Motor Vehicles Act 1959; new motor vehicle means a motor vehicle not previously registered in this State or elsewhere; optional equipment, in relation to a motor vehicle for which there is a list price, means equipment or a feature of the vehicle that is not covered by that list price, being— (a) a particular kind of transmission; or (b) power steering; or (c) any other prescribed equipment or feature; policy of insurance means a policy of insurance under Part 4 of the Motor Vehicles Act 1959; primary producer has the same meaning as in the Motor Vehicles Act 1959; second-hand motor vehicle means a motor vehicle previously registered in this State or elsewhere. (2) For the purposes of this Act, if an applicant for registration, or transfer of registration, of a motor vehicle makes the application by a means of electronic communication approved by the Registrar of Motor Vehicles, the electronic communication is taken to be an instrument executed by the applicant and is chargeable with duty as an application for registration, or transfer of registration, of a motor vehicle (as appropriate). 42B—Duty on applications for motor vehicle registration or transfer of registration (1) For the purposes of this Act, the value of a motor vehicle is— (a) in the case of an application to register a new motor vehicle for which there is a list price— (i) if the motor vehicle has no optional equipment, the list price of the vehicle; or (ii) if the motor vehicle has optional equipment, the list price of the motor vehicle plus the list price or, if there is no list price, the actual price (inclusive of GST) of the equipment; or (b) in the case of an application to transfer the registration of a second-hand motor vehicle upon sale of the vehicle, the consideration for the sale or the market value of the motor vehicle, whichever is the higher; or (c) in any other case, the market value (inclusive of GST) of the motor vehicle. (1a) An applicant for registration, or transfer of registration, of a motor vehicle must state in the application the value of the motor vehicle as at the date of the application. (1b) If the Commissioner is not satisfied that the amount stated as the value of a motor vehicle in an application for registration, or transfer of registration, of the vehicle reflects the market value of the vehicle, the Commissioner may cause a valuation of the vehicle to be made by a person appointed by the Commissioner and may assess the duty payable by reference to the valuation. (1c) The Commissioner may, having regard to the merits of the case, charge the whole or part of the expenses of, or incidental to, the making of a valuation under subsection (1b) to the person liable to pay the duty and may recover the amount charged as a debt due to the Crown. (1d) The amount of stamp duty— (a) payable upon an application to register a motor vehicle shall be an amount calculated by the addition of— (i) the amount prescribed by Schedule 2 as the component payable in respect of registration; and (ii) the amount prescribed by Schedule 2 as the component payable in respect of a policy of insurance; or (b) payable upon an application to transfer the registration of a motor vehicle shall be the amount prescribed by Schedule 2 as the component payable in respect of registration and, in the case of such an application, no additional component shall be payable in respect of a policy of insurance. (2) The amount payable upon an application in accordance with subsection (1d) shall be paid by the applicant to the Registrar of Motor Vehicles at the time of making the application. (2a) The total amount paid (including stamp duty and any registration fee or premium payable under the Motor Vehicles Act 1959)— (a) on an application to register a motor vehicle shall be denoted by impressed stamp or cash register imprint, or by both, on the certificate or interim certificate of registration relating to that motor vehicle issued by the Registrar or on such form or forms as may be approved by the Commissioner; and (b) on an application to transfer the registration of a motor vehicle shall be denoted by impressed stamp or cash register imprint, or by both, on such form or forms as may be approved by the Commissioner. (2b) Section 6 does not apply in relation to an application to register a motor vehicle or an application to transfer the registration of a motor vehicle. (3) The Registrar of Motor Vehicles shall furnish the Commissioner, at least once in every month, with a statement showing details of amounts received by him as stamp duty on applications to register, and to transfer the registration of, motor vehicles, and showing separately the amounts so received upon applications to register motor vehicles in respect of policies of insurance, and shall pay all amounts of stamp duty received by him to the Treasurer who shall— (a) place to the credit of the General Revenue— (i) all amounts representing the stamp duty received by the Registrar on applications to register motor vehicles except amounts paid upon such applications in respect of policies of insurance; and (ii) all amounts representing the stamp duty received by the Registrar upon applications to transfer the registration of motor vehicles; and (b) place to the credit of the Hospitals Fund kept at the Treasury all amounts representing stamp duty received by the Registrar upon applications in respect of policies of insurance. (4) A person who does not lodge an application to register a motor vehicle, or transfer the registration of a motor vehicle, as required is nevertheless liable to pay duty to the Commissioner as if the person had lodged the required application immediately before the end of the period allowed for making such an application. (5) If a person drives a motor vehicle on a road without registration in contravention of the Motor Vehicles Act 1959, the person is to be taken to have been required by this Act to lodge an application to register the vehicle not later than the day preceding the day on which the vehicle is so driven on a road. (6) A person is to be taken to be required by this Act to lodge an application to transfer the registration of a motor vehicle within the period within which such an application is required to be made under the Motor Vehicles Act 1959. (7) The Commissioner or the Registrar of Motor Vehicles may require an applicant who claims to be entitled to an exemption from, or reduction in, st