Stamp Duties Regulations 1998

Stamp Duties Regulations 1998

I, the Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following regulations under the Stamp Duties Act 1931 .

G. S. M. Green

Governor

By His Excellency's Command,

David Crean

Treasurer

PART 1 - Preliminary

1.   Short title

These regulations may be cited as the Stamp Duties Regulations 1998 .

2.   Commencement

These regulations take effect on 1 January 1999.

3.   Interpretation

In these regulations –

Act means the Stamp Duties Act 1931 ;

certificate of exemption means a certificate of exemption under section 74 of the Act;

return means a return within the meaning of the Act;

settlement means an instrument subject to duty under –

(a) item 25 in Part I of Schedule 2 to the Act; or

(b) paragraph (b) of item 36 in Part III of that Schedule.

PART 2 - general provisions

Division 1 - Exemption from duty

4.   Declaration in respect of exemption from duty

(1)  A declaration made by a farmer for the purpose of any of the following is to be in accordance with Form 1:

(a) an exemption under item 8 in Part I of Schedule 3 to the Act in respect of a credit arrangement;

(b) an exemption under item 9 in Part I of Schedule 3 to the Act in respect of a credit purchase agreement.

(2)  A declaration is to be affixed to the credit arrangement or credit purchase agreement to which it relates.

Division 2 - Payment of duty generally

5.   Denoting duty by adhesive stamps

An agreement that is dutiable under item 11 in Part I of Schedule 2 to the Act is prescribed as an instrument to which section 12 of the Act applies.

6.   Denoting duty by adhesive labels

(1)  Duty paid in respect of an instrument may be denoted by an adhesive label affixed to the instrument.

(2)  An adhesive label is to contain the following details:

(a) the amount of duty paid;

(b) the date on which the duty was paid;

(c) the number of any receipt issued in respect of the payment.

PART 3 - Special provisions

Division 1 - Life assurance

7.   Memorandum of transaction under section 52(2) of Act

A memorandum of a transaction under section 52(2) of the Act is to be –

(a) in accordance with Form 2; and

(b) signed by the person in this State who made or entered into the contract on behalf of an insurer outside this State.

Division 2 - Rental business

8.   Prescribed goods for purposes of Division 3AA of Part IV of Act

The following are prescribed as goods for the purposes of Division 3AA of Part IV of the Act:

(a) medical and surgical equipment and aids used for the treatment of illness, injury, infirmity, deformity or any other disability;

(b) protective equipment specifically designed for the carriage or restraint of children;

(c) prerecorded video cassettes.

Division 3 - Marketable securities

9.   Licences to pay duty on sales and purchases of marketable securities

(1)  An application for a licence under section 64 of the Act is to be –

(a) in accordance with Form 3; and

(b) verified by a statutory declaration made by the applicant.

(2)  The statutory declaration is to be endorsed on the reverse side of the application form.

(3)  A licence granted under section 64 of the Act is to be in accordance with Form 4.

10.   Denoting amount of duty payable

For the purpose of section 69A(7) of the Act, duty is to be denoted in the manner specified in Form 5.

Division 4 - Contracts of sale

11.   Applications for refund of duty

For the purpose of section 70(7) of the Act, an application is to be in accordance with Form 6.

Division 5 - Settlements

12.   Form of declaration as to addition made to settlement

For the purpose of section 71(1) of the Act, a statutory declaration is to be in accordance with Form 7.

Division 6 - Debits duty

13.   Prescribed class of person

For the purpose of paragraph (n) of the definition of "exempt account" in section 71A(1) of the Act, the Auctioneers and Real Estate Agents Trust, continued in existence by the Auctioneers and Real Estate Agents Act 1991 , is a prescribed class of person.

Division 7 - Certain applications under Traffic Act 1925

14.   Applications to which section 74 of Act applies

(1)  For the purpose of section 74(3) of the Act, a declaration is to be in accordance with Form 8.

(2)  For the purpose of section 74(8) of the Act, a certificate of exemption is to be in accordance with Form 9.

(3)  For the purpose of an exemption under item 39 in Part I of Schedule 3 to the Act, an application to which section 74 of the Act applies that is made by the holder of a certificate of exemption is to be accompanied by a declaration in accordance with Form 10.

(4)  A declaration referred to in this regulation is to be made before any of the following:

(a) a magistrate;

(b) a justice of the peace;

(c) a commissioner for declarations as defined by section 3(1) of the Evidence Act 1910 ;

(d) the Registrar of Motor Vehicles appointed under regulation 3 of the Traffic (Miscellaneous) Regulations 1968.

PART 4 - Miscellaneous

15.   Functions of Commissioner

The Commissioner may perform the functions of a State taxation officer under Part IIIA of the Taxation Administration Act 1953 of the Commonwealth.

16.   Offences

A person must not –

(a) furnish a return under the Act knowing the contents of that return to be false or misleading in any material particular; or

(b) sign a certificate endorsed on any return or application under the Act knowing the contents of that return or application to be false or misleading in any material particular.

Penalty:  Fine not exceeding 1 penalty unit.

17.   Forms

The forms specified in Schedule 1 are prescribed for the purpose of the Act.

18.   Rescission

The regulations specified in Schedule 2 are rescinded.

SCHEDULE 1 - Forms

Regulation 17

Form 1

Form 2

Form 3

Form 4

Form 5

Form 6

Form 7

Form 8

Form 9

Form 10

SCHEDULE 2 - Regulations rescinded

Regulation 18

Displayed and numbered in accordance with the Rules Publication Act 1953.

Notified in the Gazette on 2 December 1998

These regulations are administered in the Department of Treasury and Finance.