Hire of goods has been abolished from 1 January 2007
Pursuant to s125A of the Duties Act 2000 (the Act), hire of goods duty was abolished from January 2007.
All hire of goods charges (including those under special hiring agreements) received on or after 1 January 2007 do not attract duty. Given this, returns were no longer required in respect of hiring charges received on or after 1 January 2007.
For monthly returns, the December 2006 return which was due on 22 January 2007, was the last return required. For yearly returns, the return for hiring charges received for the period 1 July 2006 to 31 December 2006 which was due on 22 January 2007, was the last return required.
Please call us on 13 21 61 if you have any queries regarding this matter.
Duty was charged on the hire of goods if the person or entity hiring out those goods is a commercial hire business. If your business receives hiring charges from the hiring of goods, duty may have been payable under Chapter 6 of the Act.
Duty was payable on a monthly basis and it was the business' responsibility to calculate any liability, lodge a statement and pay duty.