Farm machinery and commercial vehicles
Mortgage duty is not chargeable on an advance to a natural person or a strata corporation for the purchase of farm machinery or a commercial vehicle as is secured by the mortgage.
What does 'commercial vehicle' mean?
a motor vehicle or trailer within the meaning of the Road Transport(Vehicle Registration) Act 1997 constructed or adapted principally for the carriage of goods but does not include a motor vehicle of the kind known as a utility, a station wagon or a panel van, or
a vehicle without motive power of its own and constructed or adapted principally for the carriage of goods and for being drawn by a motor vehicle within the meaning of that Act.
Farm machinery
The definition of farm machinery is:
a harvester, binder, tractor, plough or other agricultural implement, or
a boat within the meaning of the Fisheries Management Act 1994 or fishing gear or any other goods of a class commonly used for the purposes of a farming undertaking to be farm machinery , where the goods are acquired for the purposes of a farming undertaking.
Farming
Farming undertaking includes:
any agricultural, apicultural, dairy farming, horticultural, orcharding, pastoral, poultry keeping, viticultural or other business involving the cultivation of the soil, the gathering of crops or the rearing of livestock
the business of taking fish, crustacea, oysters or any other marine, estuarine or fresh-water animal life
the cutting of timber for sale, and
any class of business determined to be a farming undertaking.
Complete form ODA 010 for exemption from mortgage duty on farm machinery or commercial vehicles.
