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Australian Capital Territory Stamp Duty Amendment Act 1981

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AUSTRALIAN CAPITAL TERRITORY STAMP DUTY AMENDMENT ACT 1981 No. 124, 1981
Australian Capital Territory Stamp Duty Amendment Act 1981 No. 124 of 1981 - SECT. 1. Short title.
Australian Capital Territory Stamp Duty Amendment Act 1981 No. 124 of 1981 ------------------------------------------------------------------------------ -- ------------------------------------------------------------------------------ -- An Act to amend the Australian Capital Territory Stamp Duty Act 1969 (Assented to 30 September 1981) BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows: Short title, &c. 1. (1) This Act may be cited as the Australian Capital Territory Stamp Duty Amendment Act 1981. (2) The Australian Capital Territory Stamp Duty Act 1969*1* is in this Act referred to as the Principal Act. Australian Capital Territory Stamp Duty Amendment Act 1981 No. 124 of 1981 - SECT. 2. Commencement
2. This Act shall be deemed to have come into operation on 19 August 1981. Australian Capital Territory Stamp Duty Amendment Act 1981 No. 124 of 1981 - SECT. 3.
3. Section 5 of the Principal Act is repealed and the following section is substituted: Amount of stamp duty ''5. The amount of stamp duty on an instrument included in a class of instruments specified in column 2 of Schedule 1 is the amount set out in, or calculated in the manner set out in, column 3 of that Schedule opposite to the reference to that class of instruments.''. Australian Capital Territory Stamp Duty Amendment Act 1981 No. 124 of 1981 - SECT. 4. Amendments of First Schedule
4. The First Schedule to the Principal Act is amended- (a) by omitting from Item 1 ''5 cents'' and substituting ''10 cents per instrument''; (b) by omitting from Item 2 ''5 cents'' and substituting ''10 cents per instrument''; and (c) by omitting Items 4, 5, 6 and 7 and substituting the following Items: ''4 Transfer, or an agreement for a transfer, of an estate in fee simple in land situated in the Territory (a) $1.25 for every $100, and for any fractional part of $100, of the part of the value of the interest in the land transferred or agreed to be transferred that does not exceed $14,000; (b) $1.50 for every $100, and for any fractional part of $100, of the part of the value of the interest in the land transferred or agreed to be transferred that exceeds $14,000 but does not exceed $30,000; (c) $1.75 for every $100, and for any fractional part of $100, of the part of the value of the interest in the land transferred or agreed to be
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transferred that exceeds $30,000 but does not exceed $50,000; (d) $2.00 for every $100, and for any fractional part of $100, of the part of the value of the interest in the land transferred or agreed to be transferred that exceeds $50,000 but does not exceed $100,000; (e) $2.25 for every $100, and for any fractional part of $100, of the part of the value of the interest in the land transferred or agreed to be transferred that exceeds $100,000 but does not exceed $250,000; and (f) $2.50 for every $100, and for any fractional part of $100, of the part of the value of the interest in the land transferred or agreed to be transferred that exceeds $250,000 5 Transfer, or an agreement for a transfer, of a Crown lease for a term exceeding 5 years of land situated in the Territory (a) $1.25 for every $100, and for any fractional part of $100, of the part of the value of the interest in the land transferred or agreed to be transferred that does not exceed $14,000; (b) $1.50 for every $100, and for any fractional part of $100, of the part of the value of the interest in the land transferred or agreed to be transferred that exceeds $14,000 but does not exceed $30,000; (c) $1.75 for every $100, and for any fractional part of $100, of the part of the value of the interest in the land transferred or agreed to be transferred that exceeds $30,000 but does not exceed $50,000; (d) $2.00 for every $100, and for any fractional part of $100, of the part of the value of the interest in the land transferred or agreed to be transferred that exceeds $50,000 but does not exceed $100,000;
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(e) $2.25 for every $100, and for any fractional part of $100, of the part of the value of the interest in the land transferred or agreed to be transferred that exceeds $100,000 but does not exceed $250,000; and (f) $2.50 for every $100, and for any fractional part of $100, of the part of the value of the interest in the land transferred or agreed to be transferred that exceeds $250,000 6 Lease of land situated in the Territory 35 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 plus- (a) $1.25 for every $100, and for any fractional part of $100, of the part of the total amount or value of any consideration (not being rent) given or agreed to be given in respect of the lease that does not exceed $14,000; (b) $1.50 for every $100, and for any fractional part of $100, of the part of the total amount or value of any consideration (not being rent) given or agreed to be given in respect of the lease that exceeds $14,000 but does not exceed $30,000; (c) $1.75 for every $100, and for any fractional part of $100, of the part of the total amount or value of any consideration (not being rent) given or agreed to be given in respect of the lease that exceeds $30,000 but does not exceed $50,000; (d) $2.00 for every $100, and for any fractional part of $100, of the part of the total amount or value of any consideration (not being rent) given or agreed to be given in respect of the lease that exceeds $50,000 but does not exceed $100,000; (e) $2.25 for every $100, and for any fractional part of $100, of the part
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of the total amount or value of any consideration (not being rent) given or agreed to be given in respect of the lease that exceeds $100,000 but does not exceed $250,000; and (f) $2.50 for every $100, and for any fractional part of $100, of the part of the total amount or value of any consideration (not being rent) given or agreed to be given in respect of the lease that exceeds $250,000 7 Transfer or assignment, or an agreement for a transfer or assignment, of a lease, other than a Crown lease for a term exceeding 5 years, of land situated in the Territory (a) $1.25 for every $100, and for any fractional part of $100, of the part of the total amount or value of any consideration given or agreed to be given in respect of the transfer or assignment that does not exceed $14,000; (b) $1.50 for every $100, and for any fractional part of $100, of the part of the total amount or value of any consideration given or agreed to be given in respect of the transfer or assignment that exceeds $14,000 but does not exceed $30,000; (c) $1.75 for every $100, and for any fractional part of $100, of the part of the total amount or value of any consideration given or agreed to be given in respect of the transfer or assignment that exceeds $30,000 but does not exceed $50,000; (d) $2.00 for every $100, and for any fractional part of $100, of the part of the total amount or value of any consideration given or agreed to be given in respect of the transfer or assignment that exceeds $50,000 but does not exceed $100,000; (e) $2.25 for every $100, and for any fractional part of $100, of the part of the total amount or value of any consideration given or agreed to be given in respect of the transfer or assignment that exceeds $100,000 but does not exceed $250,000; and (f) $2.50 for every $100, and for any fractional part of $100, of the part of the total amount or value of any consideration given or agreed to be given in respect of the transfer or assignment that exceeds $250,000''. Australian Capital Territory Stamp Duty Amendment Act 1981 No. 124 of 1981 - SECT. 5. Application of amendments
5. (1) The amendments made by sections 3 and 4 have effect in relation to- (a) a cheque drawn or made on or after the day on which this Act comes into operation; (b) a bill of exchange or promissory note (not being a cheque), other than a bill of exchange or promissory note that, before the day on which this Act comes into operation, has been duly stamped by reason of its drawing, making, presentment for payment or negotiation; and (c) an instrument (not being a bill of exchange or promissory note) executed on or after the day on which this Act comes into operation. (2) For the purposes of sub-section (1)- (a) where a cheque is dated, the cheque shall, unless the contrary is shown, be deemed to have been drawn or made on that date; and (b) an instrument (not being a bill of exchange or promissory note) shall be deemed to have been executed on the date on which the last party to the instrument appears to have executed it. Australian Capital Territory Stamp Duty Amendment Act 1981 No. 124 of 1981 - SECT. 6. Formal amendments
6. The Principal Act is amended as set out in the Schedule to this Act. ---------------- Australian Capital Territory Stamp Duty Amendment Act 1981 No. 124 of 1981 - SCHEDULE
SCHEDULE Section 6 FORMAL AMENDMENTS ------------------------------------------------------------------------------ -- Provision Amended Omit Substitute ------------------------------------------------------------------------------ -- Section 4 . . . . . . ''the First Schedule to this Act'' . . . . . . . . ''Schedule 1'' Section 6 . . . . . . ''the Second Schedule to this Act'' . . . . . . . . ''Schedule 2'' Section 7 . . . . . . ''Five cents'' (wherever occurring) . . . . . . . . ''5 cents'' ''two'' . . . . . . . . . ''2''