Part 5 Allotment of shares by direction
137A Abolition of duty charged by this Part—effective 1
(1) The duty charged by this Part is abolished on and from 1 July
(2) The duty charged by this Part remains chargeable on an allotment
of shares referred to in section 138 that occurs before 1 July
138 Application of Part 5
This Part applies to an allotment of shares to any person by a NSW
company that is not listed on the Australian Securities Exchange or a
recognised stock exchange at another person’s direction, in discharge of
an obligation to that other person, whether that obligation arises as
consideration for the purchase of property by the company or
139 When does a liability for duty arise?
A liability for duty charged by this Part arises when the relevant
shares are allotted.
140 When must duty be paid?
A tax default does not occur for the purposes of the Taxation Administration Act 1996 if
duty is paid within 3 months after the liability to pay the duty
141 Who is liable to pay the duty?
Duty chargeable under this Part is payable by the person to whom
the relevant shares are allotted.
142 Acquisition of shares by allotment
(1) A person to whom any shares are allotted in an allotment to which
this Part applies must lodge a statement (an allotment
statement) with the Chief Commissioner in respect of the
(2) The statement must be lodged within 3 months after the shares are
143 Allotment statement
An allotment statement required to be lodged by a person is to be
in an approved form and is to contain the following information:
(a) the name and address of the person,
(b) the name of the relevant company,
(c) the date on which the shares were allotted to the
(d) such other information as may be required by the Chief
144 Assessment of duty
An allotment to which this Part applies is chargeable with duty at
the rate of duty set out in section 33 in respect of a transfer of marketable
securities on the dutiable value of the shares.