Stamp Duties (Amendment) Act 1952 (NSW)
STAMP DUTIES (AMENDMENT) ACT.
Act No. 4 1 , 1952.
An Act to amend the Stamp Duties Act, 1920- 1949, in certain respects; and for purposes connected therewith. [Assented to, 25th November, 1952.]
| BE it enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legis | lative Council and Legislative Assembly of New South |
| Wales in Parliament assembled, and by the authority of the same, as follows:— |
1 . (1) This Act may be cited as the "S tamp Duties
(Amendment) Act, 1952."
(2) The Stamp Duties Act, 1920, as amended by subsequent Acts and by this Act, may be cited as the Stamp Duties Act, 1920"'-1952.
2. The Stamp Duties Act, 1920-1949, is amended—
(a) by inserting at the end of section 101D the fol lowing new subsection:— (4) (a) This subsection shall apply in the case of every person who dies after the commence ment of the Stamp Duties (Amendment) Act, 1952, whether in New South Wales or elsewhere and who was at the date of his death domiciled in New South Wales.
(b) (i) Where the value of the dutiable estate of the deceased, other than non-aggre gated property, when aggregated with the value of all his foreign assets does not, after deducting therefrom all debts actually due and owing by the deceased at the date of his death, other than
18051—8 the the debts referred to in subsection two of sections one hundred and seven, exceed one thousand pounds, no death duty shall be chargeable.
(ii) Where the value of non-aggre gated property included in the estate of the deceased and directed by this Act to be- separately assessed does not exceed one thousand, pounds, no death duty shall be chargeable.
(c) (i) Where the value of the dutiable estate of the deceased, other than non-aggre gated property, when aggregated with the value of all the foreign assets of the deceased, after deducting therefrom all debts actually due and owing by the deceased at the date of the death of the deceased, other than the debts referred to in subsection two of section one hundred and seven, exceeds one thousand pounds, but does not exceed two thousand five hundred pounds, no death duty shall be chargeable on any property passing by the intestacy or under the will of the deceased to the widow or widower of the deceased or to any children of the deceased who, at the time of the death of the deceased, were under the age of twenty-one years, or on any other property which, or the value of which, is included by this Act in such dutiable estate, the beneficial interest in which property was vested in or passed on the death of the deceased to the widow or widower or such child.
(ii) Where the value of non-aggre gated property included in the estate of the deceased and directed by this Act to be separ ately assessed exceeds one thousand pounds, but does not exceed two thousand five hundred pounds, no death duty shall be chargeable on any such property passing on the death of the deceased or at a time determined by reference to the death of the deceased to the widow o r widower of the deceased or to any children of the deceased who, at the time of such passing, were under the age of twenty-one years.
(b)
(b) (i) by omit t ing from s u b p a r a g r a p h (b) of
p a r a g r a p h (1) of section one hundred and two the words " t h e next succeeding s e c t i o n " and by inser t ing in lieu thereof the words " s e c t i o n one hundred and three of this A c t " ;
(ii) by inser t ing a t the end of s u b p a r a g r a p h (c)
of p a r a g r a p h (2) of the same section the words—
" W h e r e , in respect of any p rope r ty pass ing unde r any sett lement, t r u s t or other disposi t ion made by the deceased whether before or af ter the pass ing of this Act, there was in existence a t any t ime (ei ther before or af ter the commencement of the S t a m p Duties (Amendment) Act, 1952) within the three years before the death of the deceased any such interest , benefit, reservat ion, assurance , contract or r ight as is refer red t o in the foregoing provisions of this subpa rag raph , the sett lement, t rus t or other
disposi t ion shall, no twi ths tanding tha t such interest , benefit, reservat ion, assurance, con t rac t or r igh t had ceased to exist before the dea th of the deceased, be read and const rued for the purposes of this sub p a r a g r a p h as if such interest , benefit, reservat ion, assurance , contract or r ight h a d continued in existence unt i l the death of the deceased . "
(iii) by omi t t ing subpa rag raph (d) of the same
p a r a g r a p h and by inser t ing in lieu thereof the following s u b p a r a g r a p h : —
(d)
A n y p r o p e r t y comprised in any gift made by the deceased a t any t ime, whether before or af ter the pass ing of this Act, unless bona fide possession and enjoyment thereof has been assumed by the donee not less than t h r e e yea r s before the death of the
deceased
deceased and thencefor th re ta ined t o the ent i re exclusion of the deceased, or of any benefit to him of wha t soever kind or in any way whatsoever whether enforceable a t law or in equity or not and whenever t he deceased died.
(iv) by inser t ing next af ter s u b p a r a g r a p h (fa)
of the same p a r a g r a p h the following new s u b p a r a g r a p h : —
(g)
(i)
A n y p r o p e r t y in which t h e deceased or any other pe r son had, a t any t ime ei ther before or af ter the commencement of the S t a m p Dut ies ( A m e n d m e n t ) Act, 1952, an es ta te or in te res t l imited to cease on the dea th of the deceased or at a t ime deter mined by reference to the dea th of the deceased (in this Ac t refer red to as the " l i m i t e d i n t e r e s t " ) to the extent to which a benefit accrues or ar ises b y cesser of the l imited in te res t ,
whether or not the l imited in te res t has been sur rendered , assured , divested or otherwise disposed of, whether for v a l u e or not, to or for the benefit of a person entit led to an es ta te o r
in te res t in the p r o p e r t y in r emainder or revers ion expectant upon the de terminat ion of the
l imited i n t e r e s t :
P rov ided tha t where t h e l imited in teres t was so sur ren dered, assured , divested or disposed of not less t han t h r e e yea r s before the dea th of the deceased, and bona fide posses sion and enjoyment of t h e
p r o p e r t y
p r o p e r t y was assumed immedi ately af ter the limited in teres t was so sur rendered , assured, divested or disposed of, and thereaf te r re ta ined to the ent ire exclusion of the person thereto fore entitled to the benefit of the l imited interest , and of any benefit to such person, whether enforceable or not, the p roper ty shall not be deemed p a r t of the estate .
The value of the benefit
accruing or a r i s ing from the cesser of the l imited in teres t shal l—
(a)
if the limited in te res t extended to the whole of the income or benefits of the p roper ty , be the
pr incipal value of tha t
p r o p e r t y ; and (b)
if the limited in teres t extended to less than the whole of the income or benefits of the p roper ty , bo the pr inc ipa l value of an addi t ion to the p rope r ty equal to the income or benefits to which the limited in teres t extended.
In the applicat ion of this sub p a r a g r a p h to and in respect of a l imited in teres t which is an annui ty the p rope r ty out of which or out of the income o r proceeds of which the annui ty is payable shall be deemed to be held for an estate or in teres t in r emainder or reversion expectant upon the determinat ion of the annui ty . (ii)
(ii) This s u b p a r a g r a p h shall not app ly to and in respect of—
(a)
any p r o p e r t y the l imited in teres t in which was only an in teres t as bolder of an office, or as recipient of the benefits of a char i ty , or as a corpora t ion sole ;
(b)
any p r o p e r t y in respect of which a benefit accrues or ar i ses by cesser of the l imited in teres t where the Commissioner is satisfied tha t such limited in te res t was in the na tu r e of an annu i ty payable out of the funds of a bona fide super annuat ion fund or out of the funds of a bona fide assurance company, cor pora t ion or society.
(c) by inserting next after section one hundred and two the following new sect ions:— 102A. (1) W h e r e by a disposit ion of any pro p e r t y an in teres t is conferred on any person other t h a n the disponer for the life of such per son or determinable on his death, and such person enters into possession of the in teres t and
thenceforward re ta ins possession thereof to the en t i re exclusion of the disponer or of any benefit to h im by contract or otherwise, and the only benefit which the disponer re ta ins in the said p r o p e r t y is subject to such life or determinable interest , and no o ther in te res t is created by the said disposit ion, then, on the death of such per son, the p r o p e r t y shall no t be deemed to be included in the es ta te of any deceased pe r son solely by v i r tue of the opera t ion of subpara
g r a p h (g) of p a r a g r a p h (2) of section h u n d r e d one
hundred and two of this Act or of tha t sub p a r a g r a p h as extended in i t s appl icat ion by
p a r a g r a p h (2A) of t ha t section by reason only of i ts rever te r to the disponer in his lifetime.
(2) W h e r e by a disposit ion of any p ro
p e r t y any such in teres t as above in this section ment ioned is conferred on two or more persons, e i ther severally or jointly, or in succession, this section shall apply in like manner as where the in teres t is conferred on one person.
(3) Subsections one and two of th is section shall not app ly where such person or pe r sons taking the said life or determinable interest had at any t ime p r io r to the disposit ion been himself or themselves competent to dispose of the said p roper ty .
102B. W h e r e a l imited in teres t which was created under a will or by a set t lement fails or determines by reason of the death of the person enti t led there to before it becomes a l imited in teres t in possession, and subsequent l imita tions under the will or set t lement continue to subsist , no benefit shall be deemed to accrue or ar ise by the cesser of the limited in teres t by reason only of the failure or de te rmina t ion of
tha t interest . 102c. (1) This section shall have effect for
the purposes of this P a r t of this Act in re la t ion
to a l imited in teres t in the residue of the es ta te of a t e s t a to r or in tes ta te where tha t in te res t is l imited to cease on the dea th of a person or a t a t ime de termined by reference to the death of a person and t h a t person dies before the comple tion of the adminis t ra t ion of the estate .
(2) Such an in teres t shall, unt i l the completion of the adminis t ra t ion , be deemed to be an in teres t in the unadminis te red estate , of the t es ta to r or in tes ta te , as for the t ime being held by his persona l representa t ives subject to
outs tanding
outs tanding charges on residue and to a n y ad jus tments between capital and income remain ing to be made in a due course of adminis t ra t ion , and in the p r o p e r t y (if any) represen t ing
ascer ta ined residue. (3) Such an in teres t shall be deemed to have become an in teres t in possession on the da te as from which the income of the residue would have been a t t r ibutable to t ha t in te res t if the residue had been ascer ta ined immediately
after the dea th of the tes ta tor or in tes ta te .
(4) W h e r e such an in teres t is an
in teres t in a p a r t only of the residue of an es ta te , the references in the foregoing provisions of this section to the unadminis te red es ta te , to residue and to charges on residue, shall be construed as references to a corresponding p a r t thereof.
102D. W h e r e an in teres t in remainder or revers ion expectant upon the de terminat ion of a l imited in teres t has , before the commencement of the S t a m p Dut ies (Amendment ) Act, 1952, been—
(a)
bona fide sold for full consideration in money or money ' s worth, no other du ty shall be payable by the pu rchase r when the l imited in teres t falls into pos session, than would have been payable
had s u b p a r a g r a p h (g) of p a r a g r a p h (2) of section one hundred and two of this
Act not been enac ted ;
(b)
bona fide mortgaged for full considera tion in money or money ' s wor th , any du ty payable in consequence of the provis ions of s u b p a r a g r a p h (g) of p a r a g r a p h (2) of section one hundred and two of th is Act shall r ank as a charge on the p r o p e r t y next after t h a t of the mor tgagee .
(d)
| (d) | by inserting at the end of subsection one of section one hundred and five the following p rov i so :— |
Provided tha t where p a r t or p a r t s of the dut iable estate of any person is or are required by section 105A of this Act to be separa te ly assessed the final balance of the estate shall be ascer tained separa te ly for tha t p a r t or each of those p a r t s and for the remainder of the
dutiable es ta te .
| (c) | by inserting next after the same section the following new section:— |
105A. (1) Any p rope r ty which is deemed to be included in the es ta te of any deceased person solely by vi r tue of the operat ion of subpa rag raph
(g) of p a r a g r a p h (2) of section one hundred and
two of this Act or of tha t s u b p a r a g r a p h as extended in i ts applicat ion by p a r a g r a p h (2A) of tha t section (in this Act refer red to as "non - aggresrated p r o p e r t y " ) shall not be aggregated with the balance of the es ta te of the deceased bu t shall be separa te ly assessed and shall for tha t purpose be an es ta te by itself:
P rov ided tha t the aggrega te of all non- aggrega ted p rope r ty included in the dutiable es ta te consequent upon the cesser of limited in te res t s which were created by the same person shall be separa te ly assessed and shall for t h a t purpose be an es ta te by itself.
(2) F o r the purposes of the separa te
is included in the es ta te of the deceased and assessment of non-aggregated p rope r ty which directed to be separa te ly assessed, the Seventh Schedule to this Act shall be construed as if—
(a)
p a r a g r a p h s (a) and (b) of the ma t t e r appea r ing in the F i r s t Column were omitted and the following p a r a g r a p h were inser ted in lieu thereof:—
Any p r o p e r t y directed by this Act to
be separate ly assessed which is included
in the dutiable estate of the deceasedin
in respect of non-aggregated property where the beneficial interest in that non-aggregated property was vested in or passed on the death of the deceased to the widow or lineal issue of the deceased or to the widow or lineal issue of the person who created the limited interest.
(b) paragraphs (a) and (b) of the matter appearing in the Second Column were omitted and the following paragraph were inserted in lieu thereof:— Any property directed by this Act to be separately assessed which is included in the dutiable estate of the deceased in respect of non-aggregated property where the beneficial interest in that non-aggregated property was vested in or passed on the death of the deceased to the widower, lineal ancestor, brother or sister, or issue of a brother or sister of the deceased, or to the widower, lineal ancestor, brother or sister or issue of a brother or sister of the person who created the limited interest.
(f)
by inserting next after section 112B the following new sections:—
112c. (1) Where the amount of the dutiable
estate, other than non-aggregated property, of any person who dies after the commencement of the Stamp Duties (Amendment) Act, 1952, when aggregated with the value of the foreign assets of the deceased, does not, after deducting there from all debts actually due and owing by the deceased at the time of his death, other than the debts referred to in subsection two of section one hundred and seven, exceed seven thousand five hundred pounds, death duty shall be cal culated at the proportion, specified in subsection
three
three of this section, of the rate that would, but for this provision, be the rate prescribed by this Act on that portion of the final balance of the estate which consists of property of one or more of the following classes:—
(a) property which devolves by the intestacy on or passes under the will of the deceased to the widow or widower of the deceased or any of the children of the deceased who, at the time of the death of the deceased, were under the age of twenty-one years; (b) property of any class not falling within paragraph (a) of this subsection, which, or the value of which, is included in the dutiable estate of the deceased, where the beneficial interest in that property on the death of the deceased is vested in or passes to the widow or widower of the deceased or any of the children of the deceased who, at the time of the death of the deceased, were under the age of twenty-one years.
(2) Where the value of non-aggregated property included in the estate of any person who dies after the commencement of the Stamp Duties (Amendment) Act, 1952, and directed by
this Act to be separately assessed, does not exceed seven thousand five hundred pounds, death duty shall be calculated at the proportion, specified in subsection three of this section, of the rate that would, but for this provision, be the rate prescribed by this Act on any property passing on the death of the deceased or at a time determined by reference to the death of the deceased to the widow or widower of the deceased or to any children of the deceased who, at the time of such passing, were under the age of twenty-one years.
(3)
(3) The proportions referred to in sub- sections one and two of this section shall be as follows:—
Where the value of that portion of the final balance referred to in subsection one of this sec tion or the value of the property passing to the persons referred to in subsection two of this section does not exceed £3,000, one-half prescribed rate.
Exceeds £3,000 but does not exceed £4,000, six- tenths prescribed rate.
Exceeds £4,000 but does not exceed £5,000, seven-tenths prescribed rate.
Exceeds £5,000 but does not exceed £6,000, eighth-tenths prescribed rate.Exceeds £6,000 but does not exceed £7,500, nine-tenths prescribed rate.
(4) This section shall not apply where the deceased was at the time of his death domi ciled at some place outside New South Wales.
112D. Where the value of non-aggregated property included in the estate of any person who dies after the commencement of the Stamp Duties (Amendment) Act, 1952, and directed by this Act to be separately assessed does not exceed seven thousand five hundred pounds and the Commissioner is satisfied that any such property passing on the cesser of the limited interest to the widow, widower, children or grandchildren of the person who created the limited interest was included in the estate of the
person who created the limited interest and duty was paid thereon no duty shall be payable on
any such property so passing.112B. Where—
(a)
any person who died before the commencement of the Stamp Duties (Amendment) Act, 1952, or who dies after such commencement, has created a limited interest in favour of any person; and
(b)
(b)
the Commissioner is satisfied that the property in which the limited interest was so created was included in the dutiable estate of the person who created the limited interest; and
(c)
the person for whose life the limited interest was created, dies after such commencement and within eleven years after the death of the person who created the limited interest; and
(d)
upon the death of the person for whose life the limited interest was created such property is deemed to be included in his estate solely by virtue of the opera tion of subparagraph (g) of paragraph (2) of section one hundred and two of this Act or of that subparagraph as extended in its application by para graph (2A) of that section,
then the duty payable in respect of such property which is so deemed to be included in the estate of the person for whose life the limited interest was created shall be reduced as follows:—
Where the death of the person for whose life the limited interest was created occurs within five years after the death of the person who created the limited interest—by one hundred per centum.
Where the death of the person for whoso life the expiration of five years but before the
the limited interest was created occurs after the
expiration of six years after the death of the person who created the limited interest—by sixty per centum.
Where the death of the person for whose life the limited interest was created occurs after the expiration of six years but before the expiration of seven years after the death of the person who created the limited interest—by fifty per centum.
Where
Where the death of the person for whose life the limited interest was created occurs af ter the expiration of seven years but before the expiration of eight years after the death of the person who created the limited interest—by forty per centum.
Where the death of the person for whose life the limited interest was created occurs after the expiration of eight years but before the expira tion of nine years after the death of the person who created the limited interest—by thirty p e r centum.
Where the death of the person for whose life the limited interest was created occurs after the expiration of nine years but before the expiration of ten years after the death of the person who created the limited interest—by twenty per centum.
Where the death of the person for whose life the limited interest was created occurs after the expiration of ten years but before the expiration of eleven years after the death of the person who created the limited interest—by ten per centum.
(g) by inserting in subsection one of section one- hundred and fourteen after the words "Death du ty" the words " (o ther than death duty separately assessed in respect of non-aggregated
p rope r ty ) " ; (h) by inserting next after the same section the following new section:— 114A. (1) Death duty separately assessed in respect of non-aggregated property shall consti tute a debt payable to Her Majesty out of the non-aggregated property and such duty shall be paid accordingly out of the non-aggregated property by the person in whom the non- aggregated property is vested.
(2)
(2) For the purpose of paying the duty the person in whom the non-aggregated property is vested, if a trustee, may raise the amount of the duty by mortgage or sale of the non- aggregated property.
(3) The person in whom the non- aggregated property is vested shall not be liable for any duty in excess of the assets constituting the non-aggregated property.
(i) by inserting in subsection one of section one hundred and fifteen after the words "Death du ty" the words "(other than death duty separately assessed in respect of non-aggregated p rope r ty ) " ;
(j) by inserting next after the same section the following new section:— 115A. (1) Death duty separately assessed in respect of non-aggregated property shall become due and payable on the assessment thereof by the Commissioner, or if not duly so assessed within six months from the death of the deceased then on the expiration of that period of six months.
(2) Such duty shall constitute, as from the death of the deceased, a charge upon so much of the non-aggregated property as is situated in New South Wales, but no such charge shall affect the title of a bona fide purchaser for value (whether before or after the death of the deceased) without notice.
(3) In case the duty is not paid within
the prescribed time the Commissioner may apply to the Supreme Court, which may order that a sufficient part of the non-aggregated property so situated be sold and the proceeds of such sale applied in payment of the duty and of the costs consequent thereon.
(4) Where any property has been sold under any such order the Supreme Court may make an order vesting the property in the purchaser.
(5)
(5) Every such vesting order shall have the same effect as if all persons entitled to the property had been free from all disability and had duly executed all proper conveyances, transfers and assignments of the property for such estate or interest as is specified in the order.
(k) (i) by inserting in subsection one of section one hundred and twenty after the words "pay able in respect thereof" the words " ( o t h e r than death duty separately assessed in
respect of non-aggregated p rope r ty ) " ; (ii) by inserting in subsection two of the same section after the words "management of any such proper ty" the words "(including
non-aggregated p rope r ty ) " ; (iii) by inserting in subsection three of the same section after the words "pay such du ty" the words " (including death duty separately assessed in respect of non-aggregated p roper ty )" ;
(1) (i) by omitting from subsection one of section one hundred and twenty-three the words "The deductions under this subsection in respect of any property shall not exceed the ad valorem duty paid under Par t I I I of this Act on the instrument effecting the disposition of that proper ty" ;
(ii) by inserting next after the same subsection the following new subsections:—
(1A) (a) Where, by virtue of the operation of subparagraph (g) of paragraph (2) of section one hundred and two of this Act or of that subparagraph as extended in its application by paragraph (2A) of that section, the dutiable estate of a deceased person includes any property comprised in any disposition not made by the deceased, there shall be deducted from the death duty
assessed
assessed in respect of that property any ad valorem duty paid under Par t I I I of this Act on any instrument effecting such disposition in respect of that property, less the sum of one pound for each separate instrument within the meaning of section sixteen of this Act.
(b) The deductions under this sub- section and under subsection one of this section in respect of any property shall not exceed the ad valorem duty paid under Par t I I I of this Act on the instrument effecting the disposition of that property.
(1B) Where—
(a)
any non-aggregated property has been included in the estate of a deceased person, and death duty has been paid thereon; and
(b)
the person (in this section referred to as the "se t t lo r" ) who created the limited interest by reason of the cesser of which such non-aggre gated property was included in the estate of the deceased person, dies after the death of such deceased person; and
(c)
the dutiable estate of the settlor includes the property in which such limited interest was created,
there shall be deducted from the death duty payable in the estate of the settlor in respect of the property in which such limited interest was created, a sum equivalent to the difference between the death duty referred to in paragraph (a) of this subsection and the death duty which would have been pay able in respect of that non-aggregated property if the deceased person had died on the date of the death of the settlor and the
settlor
settlor had died on the date of the death of the deceased person calculated according to the value of such property as at the actual date of the death of the deceased person and in accordance with the provisions of this Act in the form in which those provisions existed at that actual date.
(m)
by inserting in subsection one of section one hundred and twenty-four after the word "adminis t ra tor" wherever occurring the words " o r other person" ;
(n) (i) by inserting in subsection one of section 124A
after the word "adminis t ra tor" wherever
occurring the words " o r other person";(ii) by inserting in subsections four and five of the same section after the word "adminis t r a to r " wherever occurring the words "o r such other person, as the case may b e " ;
(o)
by inserting in subsection one of section one hundred and twenty-eight after the word "adminis t ra tor" wherever occurring the words " o r other the person liable to pay death du ty" ;
(p)
by inserting next after section one hundred and forty-four the following new section:—
145. (1) The Governor may make regulations requiring that— (a)
every instrument (other than a will) executed after the commencement of the Stamp Duties (Amendment) Act, 1952, and every will, probate whereof is granted after such commencement, by which an estate or interest in any property (including an annuity payable
out
out of the property or out of the income or proceeds of the property) limited to cease on the death of any person or at a time determined by reference to the death of any person is evidenced or conveyed or in any way whatsoever created shall be registered in the office of the Commissioner;
(b)
every instrument (other than a will) executed before the commencement of the Stamp Duties (Amendment) Act, 1952, and every will, probate whereof was granted before such commencement, by which an estate or interest in any property (including an annuity payable out of the property or out of the income or proceeds of the property) limited to cease on the death of any person or at a time determined by reference to the death of any person is evidenced or conveyed or in any way whatsoever created shall, unless such person had died before such commencement, be registered in the office of the Commissioner.
(2) The Governor may, in and by such
regulations,—
(a) prescribe the manner in which and the
persons by whom any such registration shall be effected;
(b)
prescribe the period within which any such registration shall be effected;
(c)
require the production for examination at the office of the Commissioner of the original of any instrument the registra tion of which is required to be effected pursuant to the regulations made under
this
this section or of a certified copy of the instrument or of an abstract of such par t thereof as the Commissioner may specify;
(d)
provide for the issue by the Commis sioner of a certificate of registration in respect of any instrument the registra tion of which has been effected pursuant to the regulations made under this section;
(e)
require persons upon whom the obliga tion of effecting registration of any instrument is imposed by the regula tions made under this section to comply with any written notice served, either personally or by post, requesting him to furnish any information or particulars in respect of the property to which the instrument relates, or the persons interested in such property, which the Commissioner may deem necessary to enable him to exercise and discharge his powers, authorities, duties and functions under this Act;
(f)
authorise the Commissioner to alter or extend the time within which any matter or thing is required to be done by or under the regulations made under this section;
(g) impose a penalty not exceeding fifty
pounds for any breach of the regula tions made under this section, and, where the breach is a continuing one, a penalty not exceeding five pounds for each day during which the breach continues. (3) The provisions of subsections two and three of section nine of this Act shall extend to and in respect of regulations made under this section.
(q)
(q) by omitting the Sixth Schedule and by inserting in lieu thereof the following Schedule:—
S I X T H S C H E D U L E .
RATE OF STAMP DUTY to be paid pursuant to subparagraph (ii) of paragraph (a) of subsection three of section
sixty-six or paragraph (ii) of subsection (3A) of
that section on certain conveyances made without consideration in money or money's worth or with a consideration in money or money's worth of less than the unencumbered value of the property conveyed.
Rate per
Amount or Value.
centum of Duty.
| Not exceeding £1,000 | 3 |
| Exceeding | £1,000 but not exceeding | £2 000 | 3 1/3 |
£2,000 „ „ £3,000 3 2/3| £3,000 „ „ £4,000 4 £4,000 „ „ £5,000 4 1/4 £5,000 „ „ £6,000 4 1/2 £6,000 „ „ £7,000 4 3/4 £7,000 „ „ £8,000 5 £8,000 „ „ £9,000 5 1/4
£9,000 „ „ £10,000 5 1/2
„ £10,000 „ ' „ £11,000 5 3/4
£11,000 „ „ £12,000 6
„ £12.000 „ „ £13,000 6 1/4 £13.000 „ „ £14,000 6 1/2 £14,000 „ „ £15,000 6 3/4 £15,000 „ „ £13,000 7 „ £16,000 ,. „ £17,000 7 1/4 £17,000 „ „ £13,000 7 1/2 £18,000 „ „ £19,000 7 3/4 £19,000 „ „ £20,000 8 £20,000 „ „ £21,000 8 1/4 £21,000 „ „ £22,000 8 1/2 £22,000 „ „ £5:3,000 8 3/4
£23,000 „ „ £24,000 9 £24,000 „ „ £25,000 9 1/4 £25,000 „ „ £26,000 9 1/2 £26,000 „ „ £27,000 9 3/4 £27,000 „ „ £28,000 10 £28,000 „ „ £29,000 10 1/4 £29,000 „ „ £30,000 10 1/2 £30,000 „ „ £31,000 10 3/4 £31,000 „ „ £32,000 11
„ £32,000 „ „ £33,000 11 1/4 „ £33,000 „ „ £34,000 11 1/2 £34,000 „ „ £35,000 11 3/4 £35,000 „ „ £36,000 12 „ £36,000 „ „ £37,000 12 1/4
Rate per Amount or Value. centum of Duty.
Exceeding £37,000 but not exceeding £38,000 ... 12 1/2
£38,000 „ „ £39,000 12 3/4 £39,000 „ „ £40,000 13 £40,000 „ „ £41,000 13 1/4 £41,000 „ „ £42,000 13 1/2 £42,000 „ „ £43,000 13 3/4 £43,000 „ „ £44,000 14 £44,000 „ „ £45,000 14 1/4 £45,000 „ „ £46,000 14 1/2 £46,000 „ „ £47,000 14 3/4 £47,000 „ „ £48,000 15 £48,000 „ „ £49,000 15 1/4 £49,000 „ „ £50,000 15 1/2 £50,000 „ „ £51,000 15 3/4 £51,000 „ „ £52,000 16 £52,000 „ „ £53,000 16 1/4 £53,000 „ „ £54,000 16 1/2 £54,000 „ „ £55,000 16 3/4 £55,000 „ „ £56,000 17 £56,000 „ „ £57,000 17 1/4 £57,000 „ „ £58,000 17 1/2 £58,000 „ „ £59,000 17 3/4 £59,000 „ „ £60,000 18 £60,000 „ „ £61,000 18 1/4 £61,000 „ „ £62,000 18 1/2 £62,000 „ „ £63,000 18 3/4 £63,000 „ „ £64,000 19 £64,000 „ „ £65,000 19 1/4 £65,000 „ „ £66,000 19 1/2 £66,000 „ „ £67,000 19 3/4 £67,000 „ „ £68,000 20 £68,000 „ „ £69,000 20 1/4 £69,000 „ „ £70,000 20 1/2 £70,000 „ „ £71,000 20 3/4 £71,000 „ „ £72,000 21 £72,000 „ „ £73,000 21 1/4 £73,000 „ „ £74,000 21 1/2
£74,000 „ „ £75,000 21 3/4 £75,000 „ „ £76,000 22 £76,000 „ „ £77,000 22 1/5 £77,000 „ „ £78,000 22 2/5 £78,000 „ „ £79,000 22 3/5 £79,000 „ „ £80,000 22 4/5 £80,000 „ „ £81,000 23 £81,000 „ „ £82,000 23 1/5 £82,000 „ „ £83,000 23 2/5 £83,000 „ „ £84,000 23 3/5 £84,000 ,, „ £85,000 23 4/5 £85,000 „ „ £86,000 24 £86,000 „ „ £87,000 24 1/5 £87,000 „ „ £88,000 24 2/5 Rate per
Amount or Value. of 'Cty.
| Exceeding £88,000 but not exceeding £8<,000 | 24f |
£89,000 „ „ £90,000 24|
£90,000 „ „ £9] ,000 25
£91,000 „ „ £92,000 25£ £92,000 „ „ £9:i,000 25f £93,000 „ „ £94,000 25f £94,000 „ „ £95,000 25| £95,000 „ „ £93,000 26 £96,000 „ „ £97,000 26£ £97,000 „ „ £98,000 26f £98,000 „ „ £99,000 26f £99,000 „ „ £100,000 26$ £100,000 27
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