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These are general guidelines for partition transactions that can be assessed on EDR. It also sets out exceptions where they are not able to be processed on EDR and must be submitted to us.
Section 30, of the Duties Act provides for a concessional rate of duty when a dutiable property that is co-owned (as joint tenants or tenants in common) is partitioned (divided or transferred) with the result that each co-owner receives one or more of the properties.
This page provides a general guide to aid the processing of these transactions.
The following complex assessments must be lodged with us.
when more than one instrument in the transaction is liable to ad valorem duty
when the partition is pursuant to probate (TIP: A transfer to the beneficiaries must be stamped under section 63, Duties Act prior to the partition occurring)
when the ownership is a dual entitlement (Note: this is not a partition and is liable to ad valorem duty)
The following information may assist you when processing the assessment on EDR.
All documents effecting the partition are to be processed as a separate assessment. For example, if there is a deed of partition and two transfers you will need to generate three duties assessments.
All partitions must have an ad valorem duty assessment and a fixed duty assessment. The first assessment will be: Partition – ad valorem duty
if there is a deed of partition, the deed will be assessed as the ad valorem partition
if there is no deed of partition and only transfers, the transfer relating to the excess will be stamped as the ad valorem partition
if it is an equal partition one transfer is to be stamped as the ad valorem partition – consideration $1.00 and subsequent transfers will be assessed as partition – fixed duty
You are required to submit documents listed in the evidentiary requirements to support the assessment of a partition. All documentation must be obtained before an assessment can be made.
This must include all documents listed in the evidentiary requirements, copies of all stamped documents and copies of any Duties Notice of Assessments issued.
Electronic Records – for audit purposes, we will accept electronic records. The records must be easy to access and read.