Duties Amendment Act 2000 (No 2) (ACT)

AUSTRALIAN CAPITAL TERRITORY

Duties Amendment Act 2000 (No 2)

No 30 of 2000

An Act to amend the Duties Act 1999

[Notified in ACT Gazette S33: 6 July  2000]

The Legislative Assembly for the Australian Capital Territory enacts as follows:

1. Name of Act

   This Act is the Duties Amendment Act 2000 (No 2).

2. Commencement

   This Act commences, or is taken to have commenced, on 1 July 2000.

Note      The provisions of an Act providing for its name and commencement automatically commence on the date of notification of the Act (see Interpretation Act 1967, s 10B).

1. Act amended

   This Act amends the Duties Act 1999.

2. Establishment of a trust relating to unidentifiable property and non-dutiable property

   Section 59 is amended—

(a)by inserting after subsection (1) the following subsection:

“(1A)  Despite subsection (1), duty of $20 only is chargeable in respect of an instrument mentioned in that subsection that is executed by a hospital, school or charitable organisation, or by trustees in trust for a hospital, school or charitable organisation.”; and

(b)by inserting after subsection (2) the following subsection:

“(2A)  Despite subsection (2), duty of $20 only is chargeable in respect of an instrument mentioned in that subsection that is executed by a hospital, school or charitable organisation, or by trustees in trust for a hospital, school or charitable organisation.”.

1. Transfer of property from one superannuation fund to another

   Section 62 is amended—

(a)by omitting from subsection (2) “subsection (3)” and substituting “subsections (3) and (3A)”; and

(b)by inserting after subsection (3) the following subsection:

“(3A)   Duty of $20 only is chargeable on a transfer to which this section applies from 1 superannuation fund established for the benefit of the employees of a hospital, school or charitable organisation to another superannuation fund established for the benefit of the employees of the same hospital, school or charitable organisation.”.

1. Transfers to trustees or custodians of superannuation funds or trusts

   Section 63 is amended by adding at the end the following subsection:

“(4)    Despite subsection (3), duty of $20 only is chargeable on a dutiable transaction to which this section applies if the relevant fund or trust is established for the benefit of the employees of a hospital, school or charitable organisation.”.

Endnote

Act amended

1. Act 1999 No 7 (not republished). See Also Act 1999 No 79; SL 2000 No 15; Act 2000 No 5.

[Presentation speech made in Assembly on 25 May 2000]

©  Australian Capital Territory 2000