Subdivision 3 Duty in relation to receipts returns
(1) A designated person (not being a member of a group) who, and each designated person who is a member of a group which:(a) during the year ending 30 November 1982, had receipts of not less than $5,000,000, which, if this Division had been in force at the time those receipts were received, would have been designated receipts, or(b) during the month of November 1982, had receipts of not less than $416,666 which, if this Division had been in force at the time those receipts were received, would have been designated receipts,shall, before 1 January 1983, apply to the Commissioner for registration under this Division.(2) A designated person (who is not a registered person or a member of a group) and each designated person (who is not a registered person) who is a member of a group, being a person who or group which:(a) in the preceding period of 12 months had receipts of not less than $5,000,000 (or, where some other amount is prescribed, the prescribed amount), or(b) in the preceding month had receipts of not less than $416,666 (or, where some other amount is prescribed, the prescribed amount),which are (or, in so far as this Division was not in force at the time those receipts were received, would, if this Division had been so in force, have been) designated receipts, shall, within 15 days after the end of that period of 12 months or that month, as the case may require, apply to the Chief Commissioner for registration under this Division.(2A) Subsection (2), in its application to a designated person who is a broker, applies only to a New South Wales broker.(3) A person, not being a person to whom subsection (1) or (2) applies, may, at any time, apply to the Chief Commissioner for registration under this Division.(4) The Chief Commissioner:(a) shall, upon receipt of an application under subsection (1) or (2), register the applicant, and(b) may, upon receipt of an application under subsection (3), register the applicant.(5) The Chief Commissioner, at his discretion, or upon an application being made to him by a registered person who is registered pursuant to subsection (4) (a), may cancel the registration under this Division of the person:(a) if:(i) in the preceding month, the person (not being a member of a group) or the group of which the person is a member had designated receipts of less than $416,666 (or, where some other amount is prescribed, the prescribed amount), or(ii) in the preceding period of 12 months, the person (not being a member of a group) or the group of which the person is a member had designated receipts of less than $5,000,000 (or, where some other amount is prescribed, the prescribed amount), and(b) if the Chief Commissioner is satisfied, from a consideration of such matters as he thinks relevant, that the receipts of the designated person, at any time during the succeeding period of 12 months, are likely to be such that the person will not be required to re-apply to the Chief Commissioner for registration under this Division during that period.(6) The Chief Commissioner, at his discretion, may, at any time, cancel the registration of a registered person who is registered pursuant to subsection (4) (b).(7) A person who fails to comply with this section is guilty of an offence and liable to a fine not exceeding 50 penalty units.(8) Nothing in this section requires a designated person to apply to the Chief Commissioner for registration under this Division in respect of receipts received:(a) in a period of 12 months ending on or after 30 June 2001, or(b) in a month ending on or after 30 June 2001.
98J Return to be made out in respect of dutiable receipts
(1) A registered person and a designated person who, pursuant to section 98I, is required to apply to the Chief Commissioner for registration under this Division shall, within 21 days after the end of:(a) except as provided by paragraph (b), each month, or(b) where, in relation to a registered person, the Chief Commissioner approves a period longer than a month, each such longer period,make out a return.(2) For the purposes of subsection (1), a return:(a) shall be in a form approved by the Chief Commissioner, and(b) shall, in addition to such other matters as may be required to be specified in the form, specify:(i) the total amount of dutiable receipts, not being dutiable receipts referred to in subparagraph (ii), and(ii) the number of dutiable receipts, the amount of which was a single amount of not less than $2,000,000 (or, where some other amount is prescribed, the prescribed amount),received during the month or longer period, as the case may be, to which the return relates, by the person required to make out the return.(3) A person who is required under subsection (1) to make out a return shall, within 21 days after the end of the month or the longer period, as the case may be, to which the return relates:(a) lodge the return with the Chief Commissioner, and(b) pay to the Chief Commissioner, as stamp duty, the amount of stamp duty payable in respect of the dutiable receipts to which the return relates.(3A) The Chief Commissioner may, in the case of a retailer or pastoral finance company that has lodged a return under subsection (3), exempt the retailer or company from payment of stamp duty in respect of the dutiable receipts to which the return relates if:(a) no certificate under section 98U (1) of the Act is in force in respect of an account of the retailer or company, being either an account referred to in paragraph (a) of that subsection or an account to which paragraph (g2) of that subsection applies, and(b) the Chief Commissioner is otherwise satisfied that it is proper to do so.(3B) The Chief Commissioner may reduce, refund or adjust stamp duty paid or payable by a financial institution whose sole or principal business is not that of the provision of finance.(4) A registered person or a designated person who, pursuant to section 98I, is required to apply to the Chief Commissioner for registration under this Division and who fails to comply with this section is guilty of an offence and liable to a fine not exceeding 50 penalty units together with twice the amount of duty of which Her Majesty has been deprived by any such failure.(5) This section does not apply to a member of a group to the extent that section 98JA is complied with in respect of the member.
98JA Return made out by group member in respect of group dutiable receipts
(1) A registered person who is a member of a group may apply to the Chief Commissioner for approval to lodge group returns under this section on behalf of the members of the group.(2) An application must contain such information relating to the members of the group as the Chief Commissioner requires.(3) The Chief Commissioner may, for the purposes of this section, approve or refuse to approve the group member making the application, and must notify the group member in writing of the decision.(4) The members of a group are not required to comply with section 98J (1) if, within 21 days after the end of:(a) except as provided by paragraph (b)—each month, or(b) where the Chief Commissioner approves a longer period than a month—each such longer period,an approved group member makes out a group return for those members.(5) The group return:(a) must be in a form approved by the Chief Commissioner, and(b) must, in addition to any other matters required to be specified in the form, specify:(i) the total amount of dutiable receipts, not being dutiable receipts referred to in subparagraph (ii), and(ii) the number of dutiable receipts, the amount of which was a single amount of not less than $2,000,000 (or, where some other amount is prescribed by the regulations, the prescribed amount),received during the month or longer period to which the return relates by the members of the group.(6) An approved group member who makes out a return under this section must, within 21 days after the end of the month or longer period to which the group return relates:(a) lodge the return with the Chief Commissioner, and(b) pay to the Chief Commissioner, as stamp duty, the amount of stamp duty payable in respect of the dutiable receipts to which the return relates.(7) An approved group member who fails to comply with subsection (6) is guilty of an offence.Maximum penalty: 50 penalty units and twice the amount of duty of which Her Majesty has been deprived by any such failure.
(8) If an approved group member who makes out a group return is also a short term dealer, no other member of the group who is a short term dealer is required to make out a short term dealers return if, because of section 98R (3B), no duty would be payable on such a return.(9) The Chief Commissioner may, by notice in writing to the group member whose application under this section is approved, cancel the approval at any time for any reason the Chief Commissioner thinks sufficient. The cancellation has effect from the date specified for the purpose in the notice of cancellation.
98K Transactions with unregistered persons
(1) Where:(a) a person is a party to any transaction (whether within or outside New South Wales) with a designated person who:(i) is resident or domiciled within or outside New South Wales, or(ii) carries on business wholly or partly within or outside New South Wales,and who is not registered under this Division,(b) the designated person, pursuant to the transaction, receives, in any month, a designated receipt from the firstmentioned person, and(c) the designated receipt:the firstmentioned person shall, within 42 days after the end of the month in which the designated receipt is received by the designated person, make out a return.(i) is a dutiable receipt, or(ii) would, if the designated person were subject to this Division, be a dutiable receipt,(2) For the purposes of subsection (1), a return:(a) shall be in a form approved by the Chief Commissioner,(b) shall, in addition to such other matters as may be required to be specified in the form, specify:(i) the total amount of dutiable receipts, not being dutiable receipts referred to in subparagraph (ii), and(ii) the number of dutiable receipts, the amount of which was a single amount of not less than $2,000,000 (or, where some other amount is prescribed, the prescribed amount),received during the month to which the return relates, by the designated person from the person required to make out the return,(c) shall be duly stamped with duty (which, in so far as the amount of the duty does not exceed $10, may be denoted by an adhesive stamp) as duty on a receipts return (and for that purpose, notwithstanding section 26, be deemed to be first executed at the time the return is made out), and(d) shall be retained by the person required, under subsection (1), to make out the return for a period of 12 months after the return is made out.(3) This section does not apply to or in respect of a person who is an approved person for the purposes of section 98L.(4) A person who fails to comply with this section is guilty of an offence and liable to a fine not exceeding 10 penalty units together with twice the amount of duty of which Her Majesty has been deprived by any such failure.(5) It is a defence to a prosecution under this section if the defendant proves that he used all due diligence to determine, but was unable to determine, from information which he could reasonably be expected to acquire whether:(a) the designated person who received the designated receipt was not registered under this Division,(b) the designated receipt was a dutiable receipt, or(c) the designated receipt would, if the designated person were subject to this Division, have been a dutiable receipt.(6) For the purposes of this Division, the Chief Commissioner may, from time to time, publish in the Gazette a list of registered persons and may forward a copy of a list so published to a person who is an approved person for the purposes of section 98L or any other person.
98L Payment by person, other than designated person, of duty on receipts other than by stamping
(1) A person liable to the payment of duty under section 98K may apply to the Chief Commissioner in a form approved by the Chief Commissioner for approval to pay duty in respect of dutiable receipts in accordance with the provisions of this section.(2) The Chief Commissioner may approve or refuse to approve an application under subsection (1).(3) Where the Chief Commissioner approves an application under subsection (1), he shall specify in his approval the date upon which the approval comes into force.(4) A person whose application under subsection (1) has been approved by the Chief Commissioner is, while the approval is in force, an approved person for the purposes of this section.(5) Except as provided by this section, an approved person is not liable to pay duty, as duty on a receipts return, in respect of any dutiable receipt received from him by a designated person.(6) An approved person, within 42 days after the end of:(a) except as provided by paragraph (b), each month, or(b) where, in relation to the approved person, the Chief Commissioner approves a period longer than a month, each such longer period,shall:(c) lodge with the Chief Commissioner a return in a form approved by the Chief Commissioner specifying, in addition to such other matters as may be required to be specified in the form:(i) the total amount of dutiable receipts, not being dutiable receipts referred to in subparagraph (ii), and(ii) the number of dutiable receipts, the amount of which was a single amount of not less than $2,000,000 (or, where some other amount is prescribed, the prescribed amount),received, during the month or the longer period, as the case may be, to which the return relates, by the designated person from the approved person, and(d) pay to the Chief Commissioner, as stamp duty, the amount of stamp duty that, but for subsection (5), would have been payable in respect of the dutiable receipts to which the return relates.(7) A person who fails to comply with this section is guilty of an offence and liable to a fine not exceeding 50 penalty units together with twice the amount of duty of which Her Majesty has been deprived by any such failure.(8) It is a defence to a prosecution under this section if the defendant proves that he used all due diligence to determine, but was unable to determine, from information which he could reasonably be expected to acquire whether:(a) the designated person who received the designated receipt was not registered under this Division,(b) the designated receipt was a dutiable receipt, or(c) the designated receipt would, if the designated person were subject to this Division, have been a dutiable receipt.(9) The Chief Commissioner may, by an instrument in writing, cancel any approval granted under this section:(a) on application by the person to whom the approval was granted, or(b) for any reason he considers sufficient,and shall, in any such instrument, specify the date on and from which the approval ceases to be in force.(10) An approval cancelled as referred to in subsection (9) shall cease to be in force on and from the date specified in the instrument by which the approval is cancelled.
98LA Liability to lodge or deposit money
(1) Where a person (in this section referred to as the dutiable person), being:(a) a person (other than a registered person) who is not a member of a group and who receives receipts in excess of $100,000 (or, where some other amount is prescribed, the prescribed amount) in a month, or(b) a person (other than a registered person) who is a member of a group (whether or not the other members of the group are persons included in the reference in section 98 (3) (b)), being a group the aggregated receipts of the members of which are in excess of $100,000 (or, where some other amount is prescribed, the prescribed amount) in a month,does not, within 14 days after a receipt is received by:(c) in the case of a person to whom paragraph (a) applies—the person, or(d) in the case of a person to whom paragraph (b) applies—the person or any one or more of the members of the group of which the person is a member,lodge or deposit the receipt:(e) with a registered person who, in relation to that lodgement or deposit, is liable to pay stamp duty under this Division and who will include that lodgement or deposit in a receipts return required to be made out by the registered person,(f) with a designated person who is not registered and who is not required to apply to the Chief Commissioner for registration under this Division and who will lodge or deposit the receipt with a registered person who is liable to pay stamp duty under this Division and who will include that lodgement or deposit in a receipts return required to be made out by the registered person,(g) except in so far as the regulations may otherwise provide, with a short term dealer who is not a prescribed short term dealer and in relation to whom the lodgement or deposit of the receipt creates a short term liability, being a short term liability which shall be taken into account in determining the amount to be specified in a short term dealers return required to be made out by the short term dealer,(h) except in so far as the regulations may otherwise provide, with a registered person in respect of whom the Chief Commissioner has imposed a condition as referred to in section 98O (2) and in relation to whom the lodgement or deposit of the receipt creates a credit in his short term dealer’s account, being a credit which shall be taken into account in determining the amount to be specified in a short term dealers return required to be made out by the registered person, or(i) except in so far as the regulations may otherwise provide, to the credit of an exempt account in his name,the dutiable person shall, within 21 days after the end of:(j) except as provided by paragraph (k), each month, or(k) where, in relation to a dutiable person, the Chief Commissioner approves a period longer than a month, each such longer period,make out a return.(2) For the purposes of subsection (1), a return:(a) shall be in a form approved by the Chief Commissioner,(b) shall, in addition to such other matters as may be required to be specified in the form, specify:(i) the total amount of dutiable receipts, not being receipts referred to in subparagraph (ii), and(ii) the number of dutiable receipts, the amount of which was a single amount of not less than $2,000,000 (or, where some other amount is prescribed, the prescribed amount),received during the month or the longer period, as the case may be, to which the return relates, by the dutiable person,(c) shall be duly stamped with duty of an amount equivalent to the amount of duty that would have been payable by a registered person as duty on a receipts return had the dutiable receipts been received by the registered person (and for that purpose, notwithstanding section 26, be deemed to be first executed at the time the return is made out), and(d) shall be retained by the dutiable person for a period of 3 years after the return is made out.(3) This section does not apply to:(a) a receipt of a person to the extent that it is for the sale of goods by the person, otherwise than under a credit contract, a hiring arrangement within the meaning of section 74D or a lease within the meaning of section 76,(b) except in so far as the regulations may otherwise provide, a receipt of a charitable organisation, being a receipt that may be applied wholly and exclusively in the furtherance of the objects of the organisation,(c) a receipt of cash (not including a cheque), or a receipt of a class or description of such receipts, in respect of which a dutiable person is able to satisfy the Chief Commissioner either generally or in any particular case or class of cases:(i) that he would have used the cash in the ordinary conduct of his business and would not, before so using the cash, have lodged or deposited the cash with a registered person to whom subsection (1) (e) applies or a designated person to whom subsection (1) (f) applies, and(ii) that the failure to lodge or deposit the cash with a registered person to whom subsection (1) (e) applies or a designated person to whom subsection (1) (f) applies did not occur solely or substantially for the purpose of reducing or avoiding payment of stamp duty by any person under this Division,(d) in the case of a dutiable person, being a member of a group, who is not resident or domiciled in New South Wales or who is not carrying on business wholly or partly in New South Wales, a receipt received by any other member of the group, unless the dutiable person was involved directly or indirectly in any of the circumstances giving rise to the receipt of the receipt by the other member,(e) a receipt by a person of the proceeds of an amount deposited or invested in that person’s name with a registered person, or with a short term dealer, or(f) a receipt prescribed by the regulations for the purposes of this subsection, either generally or in relation to a specified person.(4) A receipt shall be deemed to have been lodged or deposited by a dutiable person with a registered person or designated person or to the credit of an exempt account as referred to in subsection (1) if it is lodged or deposited as so referred to within the period of 14 days so referred to by a member of the group of which the dutiable person is a member.(5) A person who pays duty under section 98K or 98L in respect of a dutiable receipt is not liable to pay duty under this section in respect of that receipt.(6) Where a person who is a member of a group pays duty under this section in respect of a dutiable receipt, the liability of any other person who is a member of the group to pay duty under this section in respect of that dutiable receipt shall be reduced to the extent to which that duty has been paid by the firstmentioned person.(7) A person who fails to comply with this section is guilty of an offence and liable to a fine not exceeding 50 penalty units together with twice the amount of duty of which Her Majesty has been deprived by any such failure.(8) It is a defence to a prosecution under this section if the defendant proves that he used all due diligence to determine, but was unable to determine, from information which he could reasonably be expected to acquire, whether a person with whom he lodged or deposited a receipt was or was not:(a) a registered person to whom subsection (1) (e) applies and who was liable to pay stamp duty under this Division and would include the lodgement or deposit in a receipts return required to be made out by the registered person,(b) a designated person to whom subsection (1) (f) applies and who proposed to lodge or deposit the receipt with a registered person who was liable to pay stamp duty under this Division and would include the deposit in a receipts return required to be made out by the registered person,(c) except in so far as the regulations may otherwise provide, a short term dealer who is not a prescribed short term dealer and in relation to whom the lodgement or deposit of the receipt creates a short term liability, being a short term liability which shall be taken into account in determining the amount to be specified in a short term dealers return made out by the short term dealer, or(d) except in so far as the regulations may otherwise provide, a registered person in respect of whom the Chief Commissioner has imposed a condition as referred to in section 98O (2) and in relation to whom the lodgement or deposit of the receipt creates a credit in his short term dealer’s account, being a credit which shall be taken into account in determining the amount to be specified in a short term dealers return required to be made out by the registered person.(9) Without affecting the construction of any other provision of this Division, a reference in this section to a person who is a dutiable person and who is a member of a group is a reference to a person who is resident or domiciled in New South Wales, who carries on business wholly or partly in New South Wales, who enters into a transaction as a consequence of which he receives a receipt, a designated receipt or a dutiable receipt, who receives a receipt, a designated receipt or a dutiable receipt in New South Wales, who receives a receipt, a designated receipt or a dutiable receipt outside New South Wales as a consequence of any act, matter or thing done by the person in New South Wales or who is prescribed for the purposes of this subsection.(10) (Repealed)
98M Circumstances in which secs 98K and 98L do not apply
Nothing in section 98K or 98L requires a person, in relation to a designated receipt, to:(a) make out a receipts return,(b) duly stamp the return with the duty as duty on a receipts return,(c) lodge a return with the Chief Commissioner, or(d) pay to the Chief Commissioner any amount as stamp duty,where stamp duty or any amount as stamp duty is paid to the Chief Commissioner, before the expiration of the period limited for payment of that duty under those sections, by the designated person who receives the designated receipt.
98MA Receipts returns not required for periods after 1 July 2001
Nothing in this Subdivision requires a person (including a designated person or a registered person) in respect of any period commencing on or after 1 July 2001:(a) to make out a receipts return, or(b) to stamp a return with duty as on a receipts return, or(c) to lodge a return with the Chief Commissioner, or(d) to pay to the Chief Commissioner an amount as stamp duty.