Stamp Duties (Further Amendment) Act 1989 (NSW)
STAMP DUTIES (FURTHER AMENDMENT) ACT 1989
No. 223
NEW SOUTH WALES
&
TABLE OF PROVISIONS
1. Short title
2. Commencement
3. Amendment of Stamp Duties Act 1920 No. 47
SCHEDULE 1 - AMENDMENTS
STAMP DUTIES (FURTHER AMENDMENT) ACT 1989
No. 223
NEW SOUTH WALES
Act No. 223, 1989
An Act to amend the Stamp Duties Act 1920 to abolish stamp duty on certain instruments; with respect to the payment of financial institutions duty on certain large receipts; to make further provision with respect to appeals; and for other purposes. [Assented to 21 December 1989]
Stamp Duties (Further Amendment) 1989
The Legislature of New South Wales enacts;
Short title
1. This Act may be cited as the Stamp Duties (Further Amendment)
Act 1989.
Commencement
2. (1) This Act commences on the date of assent, except as provided
by this section.
(2) Schedule 1 (3), (4) and (5) are to be taken to have commenced
on 1 November 1989.
(3) Schedule 1 (6), (10) (g) and (h) and (11) commence or are to be
taken to have commenced on 1 December 1989.
(4) Schedule 1 (7), (8) and (9) commence or are to be taken to have
commenced on 1 January 1990.
(5) Section 3 in its application to a provision of Schedule 1 commences or is to be taken to have commenced on the day on which the provision commences or is to be taken to have commenced.
Amendment of Stamp Duties Act 1920 No. 47
3. The Stamp Duties Act 1920 is amended as set out in Schedule 1.
SCHEDULE 1 - AMENDMENTS
(Sec. 3)
(1) Section 19 (Facts and circumstances affecting duty to be set
forth in instruments):
From section 19 (2), omit "greater", insert instead
"different".
(2) Part 3, Divisions 6 (Bills of lading), 7 (Charter-parties), 8 (Companies - memorandum and articles) and 19 (Letters of allotment and letters of renunciation):
Omit the Divisions.
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SCHEDULE 1 - AMENDMENTS - continued
(3) Section 88 (Exemption from duty - property etc. outside New
South Wales):
In section 88 (b), after "risk", insert", or that proportion of a risk,".
(4) Section 88C (Apportionment of premiums);
(a) Omit section 88C (e), insert instead;
(e) insurance referred to in section 88,
(b) After "section 88B", insert "or 88D".
(5) Section 88D (Duty payable by insured in certain
circumstances):
From section 88D (1), omit
being insurance:
| (a) | which relates in whole or in part to any property which, at the time of obtaining, effecting or renewing the insurance, is in New South Wales; or |
| (b) | which is against any risk concerning an act or omission which, in the normal course of events, can only occur in New South Wales, |
insert instead:
being insurance, other than insurance referred to in section
88,
| (6) | Sections 98J (2) (b) (ii), 98K (2) (b) (ii), 98L (6) (c) (ii), 98LA (2) (b) (ii): |
Omit "$1,000,000" wherever occurring, insert instead
"$2,000,000".
(7) Section 124 (Objections and appeals):
| (a) | From section 124 (1), omit "refunding of the whole or any part of the duty", insert instead "amount of duty refunded under this Act". |
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SCHEDULE 1 - AMENDMENTS - continued
(b) Omit section 124 (5)-(10), insert instead:
(5) An objector dissatisfied with the decision of the Chief Commissioner on an objection may request the Chief Commissioner to approw in writing of an appeal by the objector to the Supreme Court against the decision.
(6) Such a request must be in writing and be lodged with the Chief Commissioner within 30 days (or such longer period as the Chief Commissioner may allow for reasonable cause shown) after the objector is informed of the Chief Commissioner’s decision on the objection.
(7) If the Chief Commissioner does not comply with a request under subsection (5) within 60 days after it is made and the objector
| (a) | has provided the Chief Commissioner with any information required by the Chief Commissioner in relation to the assessment or decision with respect to the refund concerned; and |
| (b) | lodges with the Chief Commissioner a notice in writing requiring the Chief Commissioner to comply with the request, |
the Chief Commissioner must comply with the request not
later than 30 days after the notice is lodged.
(8) The objector may appeal to the Supreme Court against the decision within 14 days after the Chief Commissioner grants approval under this section to the appeal
(8) Section 124A (Assessment to be evidence):
Renumber section 124A as section 124G.
(9) Sections 124A-124F:
After section 124, insert
Nature of appeal
124A (1) An appeal to the Supreme Court under this
Part is by way of rehearing of the original objection to the
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Chief Commissioner and is limited to the grounds of the original objection.
(2) On giving its decision, the Court may determine the amount of any duty payable as a result of the decision (including any fine).
(3) This Act applies to the Court’s assessment of duty or decision with respect to the refunding of duty in the same way as it applies to the assessment of duty, or calculation of the amount of duty to be refunded, by the Chief Commissioner.
Onus on objector
124B. On an objection or appeal under this Part, the objector bears the onus of establishing on the balance of probabilities that the duty in question was incorrectly assessed or the amount of refund was incorrectly calculated.
Payment of duty assessed and calculation of refund by
Supreme Court
124C (1) If the duty assessed by the Supreme Court under this Part
| (a) | is greater than the amount paid by the objector, the objector is liable to pay the difference; or |
| (b) | is les's than the amount paid by the objector, the Chief Commissioner is to refund the difference to the objector, together with interest on the difference at the prescribed rate. |
(2) If the refund calculated by the Supreme Court under this Part
| (a) | is greater than the amount calculated by the Chief Commissioner, the Chief Commissioner is to refund the difference to the objector, together with interest on the difference at the prescribed rate; or |
| (b) | is less than the amount calculated by the Chief Commissioner, the objector is liable to pay the difference. |
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(3) Interest payable under subsection (1) (b) or (2) (a) is payable from the date on which the amount concerned was paid by the objector until the date it is refunded.
Liability not affected by objection etc.
124D. (1) Except to the extent otherwise permitted by the Chief Commissioner, the lodging of an objection or an appeal to the Supreme Court does not affect any liability of an objector to pay duty in accordance with this AcL
(2) A permission under this section must be in writing.
Lodgment with Chief Commissioner
124R For the purposes of this Part, something is lodged with the Chief Commissioner by being addressed to the Chief Commissioner and lodged at or sent by post to any office of the Chief Commissioner.
Commissioner may state case
124F. (1) The Chief Commissioner may, if the Chief Commissioner thinks fit, state a case on any question of law arising with regard to the assessment or refund of duty and forward that case to the Supreme Court for its opinion.
(2) The Supreme Court is to give its opinion on any case forwarded to it and cause the Chief Commissioner to be notified of that opinion.
| (10) | Second Schedule - Stamp Duties and Exemptions: (a) Omit the matter relating to AWARD. | |||
|
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| (d) | Omit paragraph (8) of the matter appearing under the heading LEASE OR PROMISE OF OR AGREEMENT FOR LEASE OR HIRE of any Property not being a Ship or Vessel. |
| (e) | Omit the matter relating to LETTER OF ALLOTMENT AND LETTER OF RENUNCIATION. |
| (f) | Omit paragraphs (9), (10), (11), (12) and (13) appearing under the heading REAL PROPERTY ACT 1900, as amended, and the matter relating to those paragraphs. |
| (g) | From paragraph (b) of the matter appearing under the heading RECEIPTS RETURN, omit "$1,000,000", insert instead "$2,000,000". |
| (h) | From the matter relating to RECEIPTS RETURN in the Column headed "Amount of Duty", omit "300.00", insert instead "600.00". |
| (11) | Tenth Schedule (Savings, transitional and other provisions): |
After Part 3, insert
PART 4 - STAMP DUTIES (FURTHER
AMENDMENT) ACT 1989
Application of amendments relating to financial institutions duty
10. The amendments made to this Act by section 3 of, and Schedule 1 (6) and (10) (g) and (h) to, the Stamp Duties (Further Amendment) Act 1989 do not apply to a dutiable receipt within the meaning of section 98 (1) which is received before 1 December 1989.
Pending objections
11. (1) In this clause:
"former appeal provisions" means the provisions of Part
5 as in force immediately before the commencement of Schedule 1 (7) (b) to the Stamp Duties (Further Amendment) Act 1989;
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"new appeal provisions" means the provisions of Part 5, as amended by the Stamp Duties (Further Amendment) Act 1989.
(2) An objection made under the former appeal provisions before the commencement of the new appeal provisions is to be dealt with as an objection under the new appeal provisions, unless subclause (3) otherwise provides.
(3) Subclause (2) does not apply to an objection made under the former appeal provisions if an objector has required a case to be stated to the Supreme Court before, or the time for requiring a case to be stated has expired before, the commencement of the new appeal provisions.
[Ministers second reading speech made in -
Legislative Assembly on 21 November 1989 Legislative Council on 29 November 1989]
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