Australian Capital Territory Tax (Purchases of Marketable Securities) Act 1969
Act No. 47 of 1969 as amended
[Note: This Act was repealed by Act No. 8 of 2007 on 15 March 2007]
This compilation was prepared on 30 October 2000
taking into account amendments up to Act No. 62 of 1987
The text of any of those amendments not in force
on that date is appended in the Notes section
The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section
Prepared by the Office of Legislative Drafting and Publishing,
Attorney‑General’s Department, Canberra
Contents
1............ Short title [see Note 1]....................................................................... 1
2............ Commencement [see Note 1].............................................................. 1
3............ Incorporation...................................................................................... 1
3A......... Termination of tax.............................................................................. 1
4............ Imposition of tax................................................................................ 1
5............ Rate of tax........................................................................................... 2
6............ Exemptions......................................................................................... 2
7............ Regulations......................................................................................... 3
Notes 5
An Act relating to the Imposition of Tax in respect of certain Purchases of Marketable Securities made through Brokers in the Australian Capital Territory
1 Short title [see Note 1]
This Act may be cited as the Australian Capital Territory Tax (Purchases of Marketable Securities) Act 1969.
2 Commencement [see Note 1]
This Act shall come into operation on a date to be fixed by Proclamation.
3 Incorporation
The Australian Capital Territory Taxation (Administration) Act 1969 is incorporated and shall be read as one with this Act.
3A Termination of tax
Tax is not imposed on a purchase of a marketable security where the purchase is made on or after the termination day.
4 Imposition of tax
Tax is imposed on each purchase by a broker carrying on business in the Territory of a marketable security listed for quotation in the official list of an Australian Stock Exchange or of a prescribed stock exchange (whether within or outside Australia), being:
(a) a purchase made in the Territory after the commencement of this Act on his own account or behalf; or
(b) a purchase made after the commencement of this Act in accordance with an order to purchase given to him in the Territory by or on behalf of a person who is not a broker or is not acting for or on behalf of a broker.
5 Rate of tax
The rate of tax is:
(a) where the value of the consideration for the purchase of the marketable security is less than One hundred dollars—Seven cents for every Twenty‑five dollars and for any fractional part of Twenty‑five dollars of the value of that consideration; and
(b) where the value of the consideration for the purchase of the marketable security is One hundred dollars or more—Thirty cents for every One hundred dollars and for any fractional part of One hundred dollars of the value of that consideration.
6 Exemptions
Tax is not imposed on:
(a) the purchase of a marketable security for a consideration in money or money’s worth of less than the unencumbered value of the marketable security;
(b) the purchase 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 a State or Territory;
(c) the purchase of a marketable security by an authority of the Commonwealth or of a Territory prescribed for the purposes of this paragraph;
(d) the purchase of a marketable security by, or by trustees upon trust for, a public hospital, public benevolent institution, religious institution or public educational institution;
(e) the purchase of a marketable security made by a broker on his own account or behalf, being a purchase of a marketable security that had previously been sold by him on the day of the purchase or within two clear days (not including a day on which the Australian Stock Exchange of which he is a member is closed) before the day of the purchase; or
(f) the purchase of a marketable security by:
(i) 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
(ii) 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.
7 Regulations
The Governor‑General may make regulations for the purposes of section 4 and paragraph 6(c).