Australian
Capital Territory Stamp Duty Amendment Act 1981
No. 124 of 1981
An
Act to amend the Australian Capital
Territory Stamp Duty Act 1969
[Assented to 30 September 1981]
BE
IT ENACTED by the Queen, and the Senate and the House of Representatives of the
Commonwealth of Australia, as follows:
Short
title, &c.
1.
(1)
This Act may be cited as the Australian
Capital Territory Stamp Duty Amendment Act 1981.
(2) The Australian Capital Territory Stamp Duty Act 19691
is in this Act referred to as the Principal Act.
Commencement
2. This Act shall be
deemed to have come into operation on 19 August 1981.
3. Section 5 of the
Principal Act is repealed and the following section is substituted:
Amount
of stamp duty
“5. The amount of stamp
duty on an instrument included in a class of instruments specified in column 2
of Schedule 1 is the amount set out in, or
calculated
in the manner set out in, column 3 of that Schedule opposite to the reference
to that class of instruments.”.
Amendments
of First Schedule
4. The First Schedule to
the Principal Act is amended—
(a) by omitting from Item 1 “5
cents” and substituting “10 cents per instrument”;
(b) by omitting from Item 2 “5
cents” and substituting “10 cents per instrument”; and
(c) by omitting Items 4, 5, 6 and 7
and substituting the following Items:
“4Transfer, or an agreement for a
transfer, of an estate in fee simple in land situated in the Territory
| (a) $1.25 for
every $100, and for any fractional part of $100, of the part of the value of
the interest in the land transferred or agreed to be transferred that does
not exceed $14,000;
|
(b) $1.50 for
every $100, and for any fractional part of $100, of the part of the value of
the interest in the land transferred or agreed to be transferred that exceeds
$14,000 but does not exceed $30,000;
|
(c) $1.75 for
every $100, and for any fractional part of $100, of the part of the value of
the interest in the land transferred or agreed to be transferred that exceeds
$30,000 but does not exceed $50,000;
|
(d) $2.00 for
every $100, and for any fractional part of $100, of the part of the value of
the interest in the land transferred or agreed to be transferred that exceeds
$50,000 but does not exceed $100,000;
|
(e) $2.25 for
every $100, and for any fractional part of $100, of the part of the value of
the interest in the land transferred or agreed to be transferred that exceeds
$100,000 but does not exceed $250,000; and
|
(f) $2.50 for
every $100, and for any fractional part of $100, of the part of the value of
the interest in the land transferred or agreed to be transferred that exceeds
$250,000
|
5 Transfer, or an
agreement for a transfer, of a Crown lease for a term exceeding 5 years of
land situated in the Territory
| (a) $1.25 for
every $100, and for any fractional part of $100, of the part of the value of
the interest in the land transferred or agreed to be transferred that does
not exceed $14,000;
|
(b) $1.50 for
every $100, and for any fractional part of $100, of the part of the value of
the interest in the land transferred or agreed to be transferred that exceeds
$14,000 but does not exceed $30,000;
|
(c) $1.75 for
every $100, and for any fractional part of $100, of the part of the value of
the interest in the land transferred or agreed to be transferred that exceeds
$30,000 but does not exceed $50,000;
|
(d) $2.00 for
every $100, and for any fractional part of $100, of the part of the value of
the interest in the land transferred or agreed to be transferred that exceeds
$50,000 but does not exceed $100,000;
|
(e) $2.25 for
every. $100, and for any fractional part of $100, of the part of the value of
the interest in the land transferred or agreed to be transferred that exceeds
$100,000 but does not exceed $250,000; and
|
(f) $2.50 for
every $100, and for any fractional part of $100, of the part of the value of
the interest in the land transferred or agreed to be transferred that exceeds
$250,000
|
6
Lease of land situated in the Territory
| 35
cents for every $100, and for any fractional part of $100, of the total
amount or value of the consideration by way of rent for the term of the lease
specified in the lease plus— |
(a) $ 1.25 for
every $ 100, and for any fractional part of $100, of the part of the total
amount or value of any consideration (not being rent) given or agreed to be
given in respect of the lease that does not exceed $14,000;
|
(b) $ 1.50 for
every $100, and for any fractional part of $100, of the part of the total
amount or value of any consideration (not being rent) given or agreed to be
given in respect of the lease that exceeds $14,000 but does not exceed
$30,000;
|
(c) $1.75 for
every $100, and for any fractional part of $100, of the part of the total
amount or value of any consideration (not being rent) given or agreed to be
given in respect of the lease that exceeds $30,000 but does not exceed
$50,000;
|
(d) $2.00 for
every $ 100, and for any fractional part of $100, of the part of the total
amount or value of any consideration (not being rent) given or agreed to be
given in respect of the lease that exceeds $50,000 but does not exceed
$100,000;
|
(e) $2.25 for
every $100, and for any fractional part of $100, of the part of the total
amount or value of any consideration (not being rent) given or agreed to be
given in respect of the lease that exceeds $100,000 but does not exceed
$250,000; and
|
(f) $2.50 for
every $100, and for any fractional part of $100, of the part of the total
amount or value of any consideration (not being rent) given or agreed to be
given in respect of the lease that exceeds $250,000
|
7
Transfer or assignment, or an agreement for a transfer or assignment, of a
lease, other than a Crown lease for a term exceeding 5 years, of land
situated in the Territory
| (a) $1.25 for
every $100, and for any fractional part of $100, of the part of the total
amount or value of any consideration given or agreed to be given in respect
of the transfer or assignment that does not exceed $14,000:
|
(b) $1.50 for
every $100, and for any fractional part of $ 100, of the part of the total
amount or value of any consideration given or agreed to
|
be given in respect of the transfer or assignment
that exceeds $14,000 but does not exceed $30,000;
|
(c) $1.75 for
every $100, and for any fractional part of $100, of the part of the total
amount or value of any consideration given or agreed to be given in respect
of the transfer or assignment that exceeds $30,000 but does not exceed
$50,000;
|
(d) $2.00 for
every $100, and for any fractional part of $100, of the part of the total
amount or value of any consideration given or agreed to be given in respect
of the transfer or assignment that exceeds $50,000 but does not exceed
$100,000;
|
(e) $2.25 for
every $100, and for any fractional part of $100, of the part of the total
amount or value of any consideration given or agreed to be given in respect
of the transfer or assignment that exceeds $100,000 but does not exceed
$250,000; and
|
(f) $2.50 for
every $100, and for any fractional part of $ 100, of the part of the total
amount or value of any consideration given or agreed to be given in respect
of the transfer or assignment that exceeds $250,000”.
|
Application
of amendments
5.
(1) The
amendments made by sections 3 and 4 have effect in relation to—
(a) a cheque drawn or made on or
after the day on which this Act comes into operation;
(b) a bill of exchange or
promissory note (not being a cheque), other than a bill of exchange or
promissory note that, before the day on which this Act comes into operation,
has been duly stamped by reason of its drawing, making, presentment for payment
or negotiation; and
(c) an instrument (not being a bill
of exchange or promissory note) executed on or after the day on which this Act
comes into operation.
(2) For the purposes of
sub-section (1)—
(a) where a cheque is dated, the
cheque shall, unless the contrary is shown, be deemed to have been drawn or
made on that date; and
(b) an instrument (not being a bill
of exchange or promissory note) shall be deemed to have been executed on the
date on which the last party to the instrument appears to have executed it.
Formal
amendments
6. The Principal Act is
amended as set out in the Schedule to this Act.
—————
SCHEDULE Section 6
FORMAL
AMENDMENTS
Provision Amended | Omit | Substitute |
Section
4.......................................................... | “the First Schedule to this Act” | “Schedule 1” |
Section
6.......................................................... | “the Second Schedule to this Act” | “Schedule 2” |
Section
7.......................................................... | “Five cents” (wherever occurring) | “5 cents” |
“two”....................................................... | “2” |
First
Schedule................................................. | “FIRST
SCHEDULE”.......................... | “SCHEDULE 1” |
“RATES
OF STAMP DUTY”............. | “AMOUNT OF STAMP DUTY” |
“First
Column”...................................... | “Column 1” |
“Second
Column”................................. | “Column 2” |
“Third
Column”.................................... | “Column 3” |
“Rate
of Stamp Duty”.......................... | “Amount of Stamp Duty” |
“1¼
per centum”................................... | “1¼%” |
Second
Schedule............................................ | “SECOND
SCHEDULE”..................... | “SCHEDULE 2” |
NOTE
1. No. 48, 1969,
as amended. For previous amendments, see Nos. 68 and 94, 1972 and No. 216, 1973.