Duties Regulation 2023
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Duties Regulation 2023
Duties Regulation 2023
1 Short title
This regulation may be cited as the
Duties Regulation 2023 .
2 Commencement
This regulation commences on 2 September 2023.
3 Definitions
The dictionary in schedule 6 defines particular words used in this regulation.
4 Declared public unit trust—Act, s 79
(1) For section 79 of the Act , each of the following unit trusts is declared to be a public unit trust— (a) a unit trust mentioned in schedule 1 , part 1 ;
(b) a unit trust mentioned in schedule 1 , part 2 , if the conditions mentioned in subsection (2) are satisfied for the trust.
(2) For subsection (1)(b), the conditions are— (a) the trust is established and continues for the direct or indirect investment of funds of investors approved by the Treasurer; and
(b) the trust— (i) is not established or managed for a particular investor mentioned in paragraph (a); or
(ii) if the trust is established or managed for a particular investor mentioned in paragraph (a)—has been approved by the Treasurer as eligible to be declared as a public unit trust; and
(c) the Queensland Investment Corporation, or a company wholly owned by the corporation, is the trustee for the trust.
(3) However, the Treasurer may approve a trust under subsection (2)(b)(ii) only if the Treasurer is satisfied the investor for whom the trust is established or managed has a sufficient connection with the State.
5 Concessions and exemptions for transfer duty—ELN transfers and ELN lodgements
(1) Each of the concessions for transfer duty mentioned in a provision of the Act stated in schedule 2 , part 1 is a concession for transfer duty for an ELN transfer or ELN lodgement.
(2) Each of the exemptions for transfer duty mentioned in a provision of an Act stated in schedule 2 , part 2 is an exemption for transfer duty for an ELN lodgement.
6 Duty payable on travel insurance— Act , s 349
For section 349 (2)(a)(i) of the Act , duty is payable on 10% of the premium received, for a travel policy mentioned in schedule 3 , item 43(a), for travel outbound from Australia, including baggage.
7 Apportionment of premiums—Act, s 366
(1) For section 366 of the Act, a premium for insurance is to be apportioned— (a) for a class of insurance stated in schedule 3 , column 1—in the way stated opposite the class in column 2 of the schedule; and
(b) for a banker’s blanket policy—by apportioning each class of insurance covered by the policy in the way the class is apportioned under paragraph (a); and
(c) for an umbrella excess of loss policy—in the way the predominating class of insurance covered by the policy is apportioned under paragraph (a).
(2) In a provision in schedule 3 , unless a contrary intention appears in the provision, a reference to a person or thing is a reference to the person or thing covered by the insurance.
(3) In this section—
predominating class of insurance
means the class of insurance that attracts the highest net premium.
8 Activities for prescribed business
An activity, or a combination of any 2 or more activities, stated in schedule 4 is prescribed for schedule 6 of the Act, definition
prescribed business .
9 Recognised stock exchange
Each of the following stock exchanges is prescribed for schedule 6 of the Act, definition
recognised stock exchange , paragraph (b)— (a) the Sydney Stock Exchange Limited ACN 080 399 220;
(b) the National Stock Exchange of Australia Limited ACN 000 902 063;
(c) the New Zealand Exchange Limited;
(d) the London Stock Exchange plc;
(e) Euronext N.V.;
(f) the New York Stock Exchange;
(g) a stock exchange that is a member of the World Federation of Exchanges.
s 9 amd 2025 SL No. 24
s 4 (retro)
10 Fees
The fees payable under the Act are stated in schedule 5 .
11 Rounding of amounts expressed as numbers of fee units
(1) This section applies for working out the amount of a fee expressed in this regulation as a number of fee units.
(2) For the purpose of the
Acts Interpretation Act 1954 , section 48C(3), the amount is to be rounded down to the nearest multiple of 5 cents.
Example—
Schedule 5 , item 1(b) provides for a fee of 1.80 fee units. If the value of a fee unit for this regulation were $1.025, the number of dollars obtained by multiplying $1.025 by 1.80 would be $1.845. After rounding down, the amount of the fee would be $1.80.
Schedule 1
Declared public unit trusts
section 4
Part 1
Unit trusts existing before 22 July 1994
1 A unit trust that existed before 22 July 1994 for which the Queensland Investment Corporation is the trustee
Part 2
Unit trusts created on or after 22 July 1994
1 A unit trust— (a) that is established and continues for making investments for the purpose of the Queensland Future (Debt Retirement) Fund established under the
Queensland Future Fund Act 2020 ; and
(b) all of the units in which are held, directly or indirectly, by a government entity or government owned corporation
2 QIC Cash Enhanced Fund
3 QIC Infrastructure Portfolio No. 1 Trust
4 QIC Infrastructure Portfolio No. 2 Trust
5 QIC Long Term Diversified Fund
6 QIC Office Property Fund
7 QIC Private Equity Fund No. 2
8 QIC Private Equity Fund No. 3
9 QIC Private Equity Fund No. 5
10 QIC Registry Trust
11 QIC Retail (No. 2) Fund
Schedule 2
Concessions and exemptions for transfer duty—ELN transfers and ELN lodgements
section 5
Part 1
Concessions for transfer duty—ELN transfers and ELN lodgements
• section 91
• section 92
• section 92A
• section 92B
• section 105
• section 105A
Part 2
Exemptions for transfer duty—ELN lodgements
1 the Act • section 117
• section 124
• section 125
• section 130A
• section 130B
• section 136
• section 143
• section 145
• section 147
• section 149
• section 151
• section 152
• section 424
• section 426
• section 429
• section 430(b)
• section 430(c)
• section 431A
2
Family Law Act 1975 (Cwlth)
• section 90
• section 90L
• section 90WA
sch 2 amd 2025 SL No. 24
s 5
Schedule 3
Apportionment of premiums
section 7
Class of insurance
Way apportioned
1
Aviation non-ownership liability
State in which the insured person resides
2
Aviation hull, aviation hull third party property liability and aviation hull personal liability—
(a) high capacity regular public transport aircraft
Number of take-offs and landings in the previous year in each State for all aircraft covered by the policy (whether operated by the insured person or by a subsidiary)
(b) another aircraft
State in which the aircraft is usually located or stored in a hangar (whether operated by the insured person or by a subsidiary)
3
Bloodstock
State in which the bloodstock is usually located
4
Boiler explosion
Value of property or sum insured or exposure level for each State
5
Burglary
Value of property or sum insured or exposure level for each State
6
Business interruption
Reasonably estimated profit revenue, fees, rent or other business measurement factor for each State
7
Care, custody and control of bloodstock
State in which the bloodstock is usually located
8
Cash in transit
Number of premises or value of property or sum insured or exposure level for each State
9
Company reimbursement
Estimated salaries and wages or number of persons working in each State
10
Comprehensive crime policy
Estimated salaries and wages or number of persons working in each State
11
Contract works
Value of property or sum insured or exposure level for each State
12
Contractors risk
Value of property or sum insured or exposure level for each State
13
Crop
Value of property or sum insured or exposure level for each State
14
Deterioration of stock
Value of property or sum insured or exposure level for each State
15
Directors and officers
Estimated turnover, sales or number of persons working in each State
16
Disability—
(a) individual
State in which the business is registered or State in which the insured person resides
(b) group
State in which the business is registered or State in which the insured person resides
17
Fidelity guarantee
Estimated salaries and wages or number of persons working in each State
18
Fire
Value of property or sum insured or exposure level for each State
19
General property
Value of property or sum insured or exposure level for each State
20
Home building and contents
Value of property or sum insured or exposure level for each State
21
Industrial special risk—
(a) property
Value of property or sum insured or exposure level for each State
(b) consequential loss
Reasonably estimated profit revenue, fees, rent or other business measurement factor for each State
22
Legal expense insurance
Estimated salaries and wages or number of persons working in each State
23
Livestock
State in which the livestock is usually located
24
Loss of profits
Reasonably estimated profit revenue, fees, rent or other business measurement factor for each State
25
Machinery breakdown (including computers and engineering)
Value of property or sum insured or limit of liability declared for each State
26
Marine—
(a) builders risk
Value of property or sum insured or exposure level for each State
(b) carriers legal liability, charterers liability and hull liability for coastal and international shipping
State which is the predominant location of the vessel
(c) private pleasure craft
State in which the vessel is registered or State in which the insured person resides
27
Medical indemnity
Subscriptions paid in each State
28
Money
Number of premises or value of property or sum insured or exposure level for each State
29
Mortgage insurance—
(a) if security consists of 2 or more properties located in different States
Value of property located in each State
(b) otherwise
State in which the property is usually located
30
Motor vehicle, including extended warranty insurance—
(a) commercial motor vehicle
State in which vehicle is registered or taken to be registered
(b) private use motor vehicle
State in which vehicle is usually located or stored in a garage
(c) federal interstate motor vehicle
State in which vehicle is registered or taken to be registered
(d) unregistered motor vehicle
State in which vehicle is usually located or stored in a garage
31
Non-appearance—entertainment industry
Ticket sales in each State
32
Occupational—professional indemnity
Estimated salaries and wages, or number of persons working, in each State or reasonably estimated profit revenue, fees or rent for each State
33
Personal accident and illness—
(a) individual
State in which the business is registered or State in which the insured person resides
(b) group
State in which the business is registered or State in which the insured person resides
34
Personal liability—
(a) individual
State in which the insured person resides
(b) business
State in which the business is registered
35
Personal property
Value of property or sum insured or exposure level for each State
36
Pluvius
Value of property or sum insured or exposure level for each State
37
Public liability, product liability or broadform
Estimated salaries and wages, or number of persons working, in each State or floor area units, turnover or sales, number of premises or rent for each State
38
Railway property or public liability
Number of kilometres travelled by the rolling stock in each State in the 12-month period immediately before the insurance policy’s inception or renewal
39
Sprinkler leakage
Value of property or sum insured or exposure level for each State
40
Strata unit
Value of property or sum insured or exposure level for each State
41
Title insurance
State in which the property is located
42
Trade credit policies
Estimated turnover or sales in each State
43
Travel—
(a) outbound from Australia, including baggage—
(i) individual
State in which the insured person resides
(ii) business
State in which the business is registered
(b) within Australia—
(i) individual
State in which the insured person resides
(ii) business
State in which the business is registered
Schedule 4
Activities for prescribed business
section 8
1 Excavating and earthmoving
2 Framing pictures
3 Gunsmithing
4 Locksmithing
5 Manufacturing, processing and packaging
6 Operating any of the following— (a) a beauty salon or barber shop;
(b) a bus service;
(c) a cinema;
(d) a crematorium;
(e) an engineering workshop;
(f) a laundry or laundrette;
(g) a newsagency, travel agency or real estate agency;
(h) a repair and service workshop;
(i) a rental business;
(j) a restaurant or cafe;
(k) a service station;
(l) a sports complex or gymnasium;
(m) a warehouse or bulk storage complex
7 Operating as an undertaker or a funeral director
8 Printing and publishing
9 Repairing boots and shoes
10 Retailing and wholesaling, whether or not involving repairing or installing goods sold
11 Upholstering
Schedule 5
Fees
section 10
Fee units
1
Fee payable to the commissioner for returning, by post, an instrument or statement lodged for assessment—
(a) first instrument or statement
5.45
(b) each additional instrument or statement, including a copy
1.80
2
Fee for instrument lodged on which duty is not imposed (Act, s 495(3))
42.70
Schedule 6
Dictionary
section 3
exposure level
means the maximum possible monetary risk to the insurer if the insurer agrees to indemnify an insured person under an insurance contract.
federal interstate motor vehicle
means a motor vehicle registered under the repealed
Interstate Road Transport Act 1985 (Cwlth) .
high capacity regular public transport aircraft , for schedule 3 , item 2(a), means an aircraft employed in regular public transport operations under the
Civil Aviation Regulations 1988 (Cwlth) , whose certificate of type approval under those regulations permits the aircraft to have—
(a) a maximum seating capacity of more than 38 seats; or
(b) a capacity to carry a maximum payload of more than 4,200kg.
limit of liability declared
means the maximum amount, mentioned in an insurance contract, payable to an insured person under the insurance contract.
predominant location , for a vessel mentioned in schedule 3 , item 26(b), means—
(a) if the insured person has disclosed to the insurer that the vessel will operate from its port of registration for the insurance year—the port of registration for that insurance year; or
(b) if the insured person has disclosed to the insurer that the vessel will operate from more than 1 port during the insurance year—the port from which it will operate for most of that insurance year; or
(c) if the insured person has disclosed to the insurer that the vessel will operate from more than 1 port during the insurance year but no port can be identified as the port from which the vessel will operate for most of the insurance year—the vessel’s port of registration for that insurance year.
Queensland Investment Corporation
means the Queensland Investment Corporation established under the
Queensland Investment Corporation Act 1991 .
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