Stamp Amendment (Budget) Act 2002 (WA)

Western Australia

Stamp Amendment (Budget) Act 2002

Western Australia

Stamp Amendment (Budget) Act 2002

CONTENTS

Part 1 — Preliminary

1.	Short title	2
2.	Commencement	2
3.	The Act amended	3
Part 2 — Transfer of property rate

change

4.	Second Schedule item 4 amended	4
5.	Transitional	4
Part 3 — Vehicle licence rate change
6.	Section 76B amended	5
7.	Second Schedule item 14 amended	5
8.	Third Schedule amended	6
9.	Transitional	7
Part 4 — Policy of insurance rate

change

10.	Section 96 amended	8
11.	Second Schedule item 16 amended	8

Western Australia

Stamp Amendment (Budget) Act 2002

No. 11 of 2002

An Act to amend the Stamp Act 1921.

[Assented to 28 June 2002]

The Parliament of Western Australia enacts as follows:

Stamp Amendment (Budget) Act 2002

Part 1	Preliminary
s. 1

Part 1 — Preliminary

1.             Short title

This Act may be cited as the Stamp Amendment (Budget)

Act 2002.

2.             Commencement

(1)

Subject to this section, this Act comes into operation on the day

on which it receives the Royal Assent.

(2)

Part 2 comes into operation, or is deemed to have come into

operation, on 1 July 2002.

(3)

Part 3 comes into operation —

(a)	on 1 July 2002; or
(b)	on the day on which this Act receives the Royal Assent, if that is after 1 July 2002.

(4)	Part 4 comes into operation, or is deemed to have come into
operation —

(a)

on 1 July 2002 in relation to policies of insurance issued Act 1943 that are effected or renewed on or after 1 July 2002; and

(b) on 16 May 2002 in relation to policies of insurance issued under the Motor Vehicle (Third Party Insurance)

Act 1943 that —

(i)      were effected or renewed on or after 16 May 2002 but before 1 July 2002; and

(ii)      are valid for a period commencing on or after 1 July 2002.

Stamp Amendment (Budget) Act 2002

Preliminary Part 1

s. 3

3.             The Act amended

The amendments in this Act are to the Stamp Act 1921*.

[* Reprinted as at 3 Aug 2001.

For subsequent amendments see 2001 Index to Legislation of

Western Australia, Table 1, p. 354.]

Stamp Amendment (Budget) Act 2002

Part 2	Transfer of property rate change
s. 4

Part 2 — Transfer of property rate change

4.             Second Schedule item 4 amended

(1)

The amendments in this section are to the Second Schedule.

(2)

Item 4(1)(a) is amended by deleting “$1.95” and inserting

instead —

“ $2.00 ”.

(3)

Item 4(1)(b) is amended by deleting “$1 560 and $2.85” and

inserting instead —

“ $1 600 and $3.00 ”.

(4)

Item 4(1)(c) is amended by deleting “$2 130 and $3.70” and

inserting instead —

“ $2 200 and $4.15 ”.

(5)

Item 4(1)(d) is amended by deleting “$7 680 and $4.55” and

inserting instead —

“ $8 425 and $5.15 ”.

(6)

Item 4(1)(e) is amended by deleting “$19 055 and $4.85” and

inserting instead —

“ $21 300 and $5.50 ”.

5.             Transitional

Despite the amendments effected by this Part, the Stamp

Act 1921 as in force immediately before 1 July 2002 continues

to apply to and in relation to instruments of a kind referred to in

the Second Schedule item 4(1) to that Act that were executed

before 1 July 2002.

Stamp Amendment (Budget) Act 2002

Vehicle licence rate change Part 3

s. 6

Part 3 — Vehicle licence rate change

6.             Section 76B amended

Section 76B is amended by inserting the following definitions in

their appropriate alphabetical positions —

“

“Commonwealth Act” means the Interstate Road

Transport Act 1985 of the Commonwealth;

“corresponding State law” means a law of any other

State or a Territory corresponding to the Road

Traffic Act 1974;

“heavy vehicle” means a motor vehicle with a gross

vehicle mass of more than 4.5 tonnes;

”.

7.             Second Schedule item 14 amended

The Second Schedule item 14 is deleted and the following item

is inserted instead —

“

14. MOTOR VEHICLE LICENCE,

ISSUE OR TRANSFER

(1)	On the issue or transfer of a	The person in
licence for a motor vehicle that	whose name the
is not a heavy vehicle —	licence is issued or the transferee;
(a) where the market value of
and see

the vehicle does not exceed

section 76C(13)

$15 000 .........................................	2.75% of the market
value

(b) where the market value of

the vehicle exceeds $15 000

but does not exceed   MV  15 000  

$40 000 .........................................	2.75				%
			

6 666.66

   

(rounded to 2 decimal places) of the market

value (MV)

(c) where the market value of

the vehicle exceeds $40 000 .......... 6.5% of the market value

Stamp Amendment (Budget) Act 2002

Part 3 Vehicle licence rate change

s. 8

(2)	On the issue of a licence for a
heavy vehicle that has not
previously been used nor
registered under the Road
Traffic Act 1974 or a
corresponding State law ....................... The lesser of —

(a)

3% of the market

value; and

(b)

$12 000

(3)	On the issue or transfer of a
licence for any other heavy
vehicle —
(a) where the market value of

the vehicle does not exceed

$15 000 ......................................... 2.5% of the market value

(b) where the market value of

the vehicle exceeds $15 000

but does not exceed   MV  15 000  

$40 000 .........................................	2.5				%
			

10  000

   

(rounded to 2 decimal places) of the market

value (MV)

(c) where the market value of

the vehicle exceeds $40 000 ..........

The lesser of —

(a)

5% of the market

value; and

(b)

$20 000

The duty payable under

item 14 is to be rounded

down to the nearest

5 cents

”.

8.             Third Schedule amended

The Third Schedule is amended as follows:

(a)	by deleting item 9(1);
(b)	in item 9(2), (3), (4) and (5) by deleting “RTA” in each place where it occurs and inserting instead —

“ Road Traffic Act 1974 ”.

Stamp Amendment (Budget) Act 2002

Vehicle licence rate change

s. 9

9.             Transitional

(1)

Despite the amendments effected by this Part, the Stamp

Act 1921 as in force immediately before the commencement day

continues to apply to and in relation to the issue or transfer of a

motor vehicle licence the application for which was made

before the commencement day.

(2)

Despite subsection (1), if —

(a)	the commencement day is after 1 July 2002;
(b)

an application for the issue or transfer of a motor vehicle 1 July 2002; and

(c) stamp duty in respect of the issue or transfer of the licence is not paid before the commencement day,

then the Stamp Act 1921 as amended by this Part applies to and

in relation to the issue or transfer of the licence.

(3)

If, under section 76C(9), (10) or (10C) of the Stamp Act 1921,

the amount of duty payable in respect of the issue or transfer of

a licence is assessed before the commencement day, then the

Stamp Act 1921 as in force immediately before that day

continues to apply to and in relation to the issue or transfer of

the licence and the assessment.

(4)

In this Part —

“commencement day” means day on which this Part comes

into operation.

Stamp Amendment (Budget) Act 2002

Part 4	Policy of insurance rate change
s. 10

Part 4 — Policy of insurance rate change

10.           Section 96 amended

Section 96(1) and (2) are amended by deleting “item 16(1)(a),

(1)(c)” and inserting instead —

“ item 16(1) ”.

11.           Second Schedule item 16 amended

The Second Schedule item 16(1)(b) is amended by deleting

“0.25” and inserting instead —

“

8% of the amount calculated

under section 96(2)

”.