Federal Register of Legislation - Australian Government

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Act No. 48 of 1969 as made
An Act relating to the Imposition of Stamp Duty on certain Instruments having a connexion with the Australian Capital Territory.
Administered by: DOTARS
Date of Assent 14 Jun 1969
Date of repeal 15 Mar 2007
Repealed by Statute Law Revision Act 2007

Australian Capital Territory Stamp Duty

No. 48 of 1969

An Act relating to the Imposition of Stamp Duty on certain Instruments having a connexion with the Australian Capital Territory.

[Assented to 14 June 1969]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title.

1.  This Act may be cited as the Australian Capital Territory Stamp Duty Act 1969.

Commencement.

2.  This Act shall come into operation on a date to be fixed by Proclamation.

Incorporation.

3.  The Australian Capital Territory Taxation (Administration) Act 1969 is incorporated and shall be read as one with this Act.

Imposition of stamp duty.

4.  Subject to this Act, stamp duty is imposed on the instruments included in the classes of instruments specified in the First Schedule to this Act.

Rates of stamp duty.

5.  The rate of stamp duty on an instrument included in a class of instruments specified in the second column of the First Schedule to this Act is the rate specified in the third column of that Schedule opposite to the reference to that class of instruments.

Exemptions from stamp duty.

6.—(1.)  Stamp duty is not imposed on an instrument included in a class of instruments specified in the Second Schedule to this Act.

(2.)  Stamp duty is not imposed on an instrument for which an exemption from stamp duty is provided by the Bankruptcy Act 1966-1968 or the Commonwealth Inscribed Stock Act 1911-1966.

(3.)  Stamp duty is not imposed on an instrument included in a prescribed class of instruments executed by an authority of the Commonwealth or of a Territory prescribed for the purposes of this sub-section.

(4.)  Stamp duty is not imposed on an instrument that is a counterpart or copy of another instrument that has been duly stamped.

(5.)  Stamp duty is not imposed on a cheque drawn before the date of commencement of this Act.


 

(6.)  Stamp duty is not imposed on a bill of exchange or promissory note (not being a cheque) by reason of its negotiation, presentment for payment or payment if it has already been duly stamped by reason of its drawing, making, presentment for payment or earlier negotiation.

(7.)  Stamp duty is not imposed on a bill of exchange or promissory note (not being a cheque) drawn or made before the date of commencement of this Act by reason of its negotiation, presentment for payment or payment on or after that date.

(8.)  Stamp duty is not imposed on an instrument (not being a bill of exchange or promissory note) executed before the commencement of this Act.

(9.)  Stamp duty is not imposed on a lease, or on an instrument of transfer of an estate in fee simple in land or of a lease, for which an agreement in writing has been executed before the commencement of this Act.

(10.)  For the purposes of this section—

(a) where a bill of exchange or promissory note is dated, the bill or note shall, unless the contrary is shown, be deemed to have been drawn or made on that date; and

(b) an instrument shall be deemed to have been executed on the date on which the last party to the instrument appears to have executed it.

Adjustment of stamp duty.

7.  Where an amount of stamp duty payable on a hire-purchase agreement is an amount that is not a multiple of Five cents, the amount of stamp duty payable is the nearest amount that is a multiple of Five cents, except where the amount of stamp duty is equally near to two amounts that are multiples of Five cents, in which case, the amount of stamp duty payable is the next lower amount that is a multiple of Five cents.


 

THE SCHEDULES

 

FIRST SCHEDULE                                           Section 5.

Rates of Stamp Duty

First Column

Second Column

Third Column

Item No.

Class of Instruments

Rate of Stamp Duty

1

Cheque drawn or made on a banker at a branch of the banker in the Territory

5 cents

2

Bill of exchange or promissory note (not being a cheque) drawn, made, negotiated, presented for payment, or paid, in the Territory

5 cents

3

Hire-purchase agreement entered into by the owner in the Territory

1¼ per centum of the purchase price under the agreement

4

Transfer, or an agreement for a transfer, of an estate in fee simple in land situated in the Territory

$1 for every $100, and for any fractional part of $100, of the value of the interest in the land transferred or agreed to be transferred

5

Transfer, or an agreement for a transfer, of a Crown lease for a term exceeding five years of land situated in the Territory

$1 for every $100, and for any fractional part of $100, of the value of the interest in the land transferred or agreed to be transferred

6

Lease of land situated in the Territory......................

$1 for every $100, and for any fractional part of $100, of the total amount or value of any consideration (not being rent) given or agreed to be given in respect of the lease, and 30 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

7

Transfer or assignment, or an agreement for a transfer or assignment, of a lease, other than a Crown lease for a term exceeding five years, of land situated in the Territory

$1 for every $100, and for any fractional part of $100, of the total amount or value of any consideration given or agreed to be given in respect of the transfer or assignment

8

Transfer of a marketable security that is registered in a register kept by a company in the Territory

5 cents for every $12.50, and for any fractional part of $12.50, of the unencumbered value of the marketable security

 

SECOND SCHEDULE                                      Section 6.

Exemptions from Stamp Duty

Item No.

Class of Exempt Instruments

1

Cheque drawn on a form supplied or used by a banker in pursuance of an authority granted under Division 2 of Part III. of the Australian Capital Territory Taxation (Administration) Act 1969

2

Bill of exchange or promissory note drawn or made by a Department of State of the Commonwealth


 

Second Schedule—continued

Item No.

Class of Exempt Instruments

3

Bill of exchange or promissory note drawn or made by the Governor-General

4

Bill of exchange or promissory note drawn or made by or on behalf of a public hospital, public benevolent institution, religious institution or public educational institution

5

Bill of exchange or promissory note drawn or made by a person who is—

 

(a) a member of a diplomatic mission in Australia of the government of another country that does not impose stamp duty or any similar tax on bills of exchange and promissory notes or grants in relation to Australia an exemption from any such stamp duty or similar tax corresponding to this exemption; or

 

(b) a member of his family forming part of his household,

being a person who is not an Australian citizen and is not ordinarily resident in Australia

6

Hire-purchase agreement under which the purchase price does not exceed $100

7

Hire-purchase agreement under which the owner is a registered owner

8

Hire-purchase agreement under which the hirer is a public hospital, public benevolent institution, religious institution or public educational institution

9

Hire-purchase agreement under which the hirer is—

 

(a) a member of a diplomatic mission in Australia of the government of another country that does not impose stamp duty or any similar tax on hire-purchase agreements or grants in relation to Australia an exemption from any such stamp duty or similar tax corresponding to this exemption; or

 

(b) a member of his family forming part of his household,

being a person who is not an Australian citizen or is not ordinarily resident in Australia

10

Conveyance by or in the name of the Commonwealth

11

Conveyance granted to the Commonwealth

12

Conveyance by which an estate or interest in land is transmitted by way of mortgage or security only or consequent on the death, bankruptcy or insolvency of the holder of the estate or interest

13

Conveyance of land on a sale by the Director of War Service Homes in pursuance of Part IV. of the War Service Homes Act 1918-1968

14

Conveyance to a person in pursuance of an order of a court under section 86 of the Matrimonial Causes Act 1959-1966 or under section 22 of the Married Women’s Property Act, 1901 of the State of New South Wales in its application to the Territory

15

Conveyance to, or to trustees upon trust for, a public hospital, public benevolent institution, religious institution or public educational institution

16

Conveyance to the government of a country other than Australia

17

Conveyance to a member of a diplomatic mission in Australia of the government of another country that does not impose stamp duty or any similar tax on conveyances or grants in relation to Australia an exemption from any such stamp duty or similar tax corresponding to this exemption, being a person who is not an Australian citizen and is not ordinarily resident in Australia, where the land is to be used as premises for the purposes of the diplomatic mission or as the residence of the member of the diplomatic mission

18

Conveyance to a representative in Australia of the government of another country that does not impose stamp duty or any similar tax on conveyances or grants in relation to Australia an exemption from any such stamp duty or similar tax corresponding to this exemption, being a person who is not an Australian citizen and is not ordinarily resident in Australia, where the land is to be used as premises for the purposes of a consular post, or as the residence of the head of a consular post, in Australia of the other country

19

Transfer of a marketable security where the instrument of transfer bears statements made in respect of the sale and of the purchase of the marketable security to which the transfer relates under the Australian Capital Territory Taxation (Administration) Act 1969 or under a law of a State or another Territory of the Commonwealth relating to the imposition of stamp duty on transfers of marketable securities to the effect that stamp duty, if payable, has been or will be paid

20

Transfer of a marketable security issued by a municipal council or other local governing body or by a public authority constituted under a law of the Commonwealth or of a State or Territory of the Commonwealth

21

Transfer of a marketable security to, or to trustees upon trust for, a public hospital, public benevolent institution, religious institution or public educational institution

22

Transfer of a marketable security made in consequence of the appointment or retirement of a trustee or other change in trustees in order to vest the marketable security in the trustees for the time being entitled to hold it

23

Transfer of a marketable security from an executor of a deceased person’s will or administrator of a deceased person’s estate to another executor of that will or administrator of that estate


 

Second Schedule—continued

Item No.

Class of Exempt Instruments

24

Transfer of a marketable security to a beneficiary entitled to it under a will or to a person entitled to it under an intestacy

25

Transfer of a marketable security from a trustee to a person who contributed the purchase money for the transfer by which the trustee acquired the marketable security, where—

(a) any stamp duty (whether under this or another Act or under a law of a State or another Territory of the Commonwealth) on the transfer by which the trustee acquired the marketable security has been paid;

(b) the instrument of transfer by which the trustee acquired the marketable security bears statements made in respect of the sale and of the purchase of the marketable security to which the transfer relates under the Australian Capital Territory Taxation (Administration) Act 1969 or under a law of a State or another Territory of the Commonwealth relating to the imposition of stamp duty on transfers of marketable securities to the effect that stamp duty, if payable, has been or will be paid;

(c) stamp duty (whether under this or another Act or under a law of a State or another Territory of the Commonwealth) on the transfer by which the trustee acquired the marketable security was not payable; or

(d) the trustee so acquired the marketable security upon its first issue

26

Transfer of a marketable security to a trustee to be held solely as trustee of the transferor without change in beneficial ownership, and a transfer by way of re-transfer to the transferor

27

Transfer of a marketable security made solely for the purpose of—

(a) qualifying the transferee as the director of a company to act and vote, as directed, on behalf of another company; or

(b) re-transferring the marketable security from that director to the other company,

being another company that—

(c) controls the appointment or removal of all or a majority of the board of directors of that first-mentioned company;

(d) controls more than one-half of the voting power in that first-mentioned company; or

(e) beneficially owns more than one-half of the paid-up capital of that first-mentioned company

28

Transfer of a marketable security made solely for the purpose of rectifying a clerical error in an instrument of transfer

29

Transfer of a marketable security made solely by way of security or by way of re-transfer to a person from another person who held the marketable security by way of security

30

Transfer of a marketable security by a broker to a person (not being a broker) who had, for the purpose of enabling the broker to fulfil a contract to sell marketable securities in the ordinary course of his business as a broker, transferred a marketable security of the same description to the broker in pursuance of an undertaking by the broker, in consideration of that transfer to the broker, subsequently to transfer a marketable security of the same description to that person

31

Transfer of a marketable security to—

(a) a member of a diplomatic mission in Australia of the government of another country that does not impose stamp duty or any similar tax on transfers of marketable securities or grants in relation to Australia an exemption from any such stamp duty or similar tax corresponding to this exemption; or

(b) a member of his family forming part of his household,

being a person who is not an Australian citizen and is not ordinarily resident in Australia