Federal Register of Legislation - Australian Government

Primary content

Act No. 46 of 1969 as amended, taking into account amendments up to Act No. 216 of 1973
Registered 18 Nov 2009
Start Date 31 Dec 1973
End Date 31 Jul 1987
Date of repeal 15 Mar 2007
Repealed by Statute Law Revision Act 2007

AUSTRALIAN CAPITAL TERRITORY TAX (SALES OF MARKETABLE SECURITIES) ACT 1969
- Reprinted as at 30 June 1981 (HISTACT CHAP 424 #DATE 30:06:1981)

*1* The Australian Capital Territory Tax (Sales of Marketable Securities) Act
1969 (a) as shown in this reprint comprises Act No. 46, 1969 as amended by the
other Acts specified in the following table:
----------------------------------------------------------------------------
Application,
saving
Number Date Date of or
transitional
Act and year of Assent commencement provisions
---------------------------------------------------------------------------- Australian Capital
Territory Tax
(Sales of
Marketable
Securities) Act
1969 46, 1969 14 June 1969 1 July 1969 (see
Gazette 1969, p.
3692)
Australian Capital
Territory Tax
(Sales of
Marketable
Securities) Act
1972 92, 1972 18 Oct 1972 18 Oct 1972 S. 4
Statute Law
Revision Act 1973 216, 1973 19 Dec 1973 31 Dec 1973 Ss. 9 (1) and 10
---------------------------------------------------------------------------- (a) This citation is provided for by the Amendments Incorporation Act 1905
and the Acts Citation Act 1976.

AUSTRALIAN CAPITAL TERRITORY TAX (SALES OF MARKETABLE SECURITIES) ACT 1969 -
TABLE OF PROVISIONS

TABLE

TABLE OF PROVISIONS


Section

1. Short title

2. Commencement

3. Incorporation

4. Imposition of tax

5. Rate of tax

6. Exemptions


-----------------


AUSTRALIAN CAPITAL TERRITORY TAX (SALES OF MARKETABLE SECURITIES) ACT 1969 -
LONG TITLE

SECT

An Act relating to the Imposition of Tax in respect of certain Sales of Marketable Securities made through Brokers in the Australian Capital Territory

AUSTRALIAN CAPITAL TERRITORY TAX (SALES OF MARKETABLE SECURITIES) ACT 1969 -
SECT. 1.
Short title

SECT

1. This Act may be cited as the Australian Capital Territory Tax (Sales of Marketable Securities) Act 1969.*1*


See notes to first article of this CHAPTER.

AUSTRALIAN CAPITAL TERRITORY TAX (SALES OF MARKETABLE SECURITIES) ACT 1969 -
SECT. 2.
Commencement

SECT

2. This Act shall come into operation on a date to be fixed by Proclamation.*1*


See notes to first article of this CHAPTER.

AUSTRALIAN CAPITAL TERRITORY TAX (SALES OF MARKETABLE SECURITIES) ACT 1969 -
SECT. 3.
Incorporation

SECT

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


AUSTRALIAN CAPITAL TERRITORY TAX (SALES OF MARKETABLE SECURITIES) ACT 1969 -
SECT. 4.
Imposition of tax

SECT

4. Tax is imposed on each sale 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 sale made in the Territory after the commencement of this Act on his own account or behalf; or

(b) a sale made after the commencement of this Act in accordance with an order to sell 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.


AUSTRALIAN CAPITAL TERRITORY TAX (SALES OF MARKETABLE SECURITIES) ACT 1969 -
SECT. 5.
Rate of tax

Amended by No. 92, 1972, s. 3

SECT

5. The rate of tax is-

(a) where the value of the consideration for the sale 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 sale 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.


AUSTRALIAN CAPITAL TERRITORY TAX (SALES OF MARKETABLE SECURITIES) ACT 1969 -
SECT. 6.
Exemptions

Amended by No. 216, 1973, s. 3

SECT

6. Tax is not imposed on-

(a) the sale 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 sale 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;

(c) the sale of a marketable security by an authority of the Commonwealth or of a Territory prescribed for the purposes of this paragraph;

(d) the sale 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 sale of a marketable security made by a broker on his own account or behalf, being a sale of a marketable security that had previously been purchased by him on the date of the sale or within two clear days (not including a date on which the Australian Stock Exchange of which he is a member is closed) before the day of the sale; or

(f) the sale 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. ------------------------------------------------------------------------------ --