Duties Regulation 2023 (Qld)

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.