STAMP DUTIES ACT.

Grey River Argus, Volume III, Issue 181, 12 March 1867, Page 4

STAMP DUTIES ACT.

The following \s the new Stamp Duties Act passed in the General Assembly of New 2ealan4 last session, and which, came into force on the Ist irist : ■- . ' SCHEDULE I, Containing the Duties on Dbedb anp other Instruments kislatino to Transactions BETWEEN LIYI^G PERSONS,, :;' *• s. d Agreement or any minute or me* morandum of any agreemeut imder hand only, where the matter thereof shall be of thq value of L2Q or upwards j whether the same shall only be eyidenpe of a contract or obligat tory on the |Jarties from its being a written instrument, together with every schedule receipt or other matter put or endprsed thereon or annexed thereto Q 1 0 Providedalways, that where divers letters shallbe offered iji evidence, to prove any agreement between the parties who shall have , written such letters, it shall be sufficient if any of sxich letters shall be stamped with a duty pf two shillings and sixpence. ' Bills of Exchange— l ' ' : Inland Bill of Exchange Draft or Order for the payment to the • bearer or tp prder at any time ■ ptherwise" than pn depaand of any sum of, money not exceeding XSO ' : : ';;;p 1 0 Ditto, not exceeding L,IOO ... 0 § 0 And where the sum shall' exceed . LIOO, then for every LSO, and also for fractional part of LSO . 0 1 0 Foreign Bill of Exchange drawn in but payable out pf thg colony of New Zealand— Jf drawn singly or otherwise than in a set pf two pr more (a) If drawn in sets pf two; then fpr every bill of each set where the sum' payable shall not exceed LSO ... 0 0 6 And where it shall exceed LSO and npt exceed LjOO ... 0 1 0 And where the same shaU exceed LIOO, then fpr every LSO or any fractional part of LSO Q Q Q If drawn in sets pf three pr mpp for every bijll of eaph set where the sum' payable thereby shall not exceed LSO ... 0 Q 4 And where it shall exceed LS.Q and not exceed Ll'qO " ... Q 0 8 And where the same shall exceed LIOO, then fpr every LSO aiu\ also any fractipnal part of LSO 0, Q 4 Exemptions from the fpregoing duties on bills pf exchange, all debentures and treasury bills issued by the Government of New Zealand. All drafts ovprders fpr the payment of any sum of mpney to the bea,rer oh demand, drawn upon any banker, person, or company, are exempt from the foregoing duties but are subject to the duty of ldcharged upon drafts orjprders. Bill of Exchange drawn out of the colony, but endorsed or nego-. tiated within the colony, the same duties as on a bill of exchange drawn within the colony, and payable within the colony :• : (b) promissory Note, fpr the payment in any other manner than to the ~~ ~~bearer, on demand, of any sum of nwaey npt exceeding L 25 0 Q 6 Exceeding L 25, npt exceeding LSO 0 1 0 Promissory Note, for tjie payment •either t© the bearer, on demand, or in any other manner than to the bearer, on demand, of any sum of money exceeding LSO and not exceeding LIQO ... 0 % Q Where the sum BhaU exceed LIOO y then for every LSO, aiid fractional part of LSO ... 0 0 Exemptions from the fpregoing . dxities on promissory notes, bu.t not from any other duty tft which the same may be liable. All promisspiy notes, for the payment of money on demand, issued by any Bank or Banking Company in i New Zealand authorised tp issue such notes, and making such returns, and paying such compositions as ijs in this Act respectively mentioned. All bills, drafts, or prdeis, or pro-! . missory notes for the paymentby any Bank or Banking Com-, pany of any sum of money, though not made payable tp the bearer pr to order, and whether delivered to the payee . . pr not, and all writings or docuv ments entitling any person tp , the payment by any Bank or Banking Company pf any suoi «:'. pf money, • whether the pereon. to whom payment is to be made shall pc" named or desig-. nated therein or not, or whetherthe shall be delivered to him or not, shall respectively be deemed to be bills, drafts, or prders f or th c payment of money chargeable .with Stamp Duty, as if the same had been made payable to bearer or to order. Bill of Lading, or receipt- in lieu thereof from master, matjs, or agent of any vessel, for any goods, merchandise, or effects to be carried tp any place beyond the boundaries pf the polony-7-fpr every such bill of lading, or receipt, or copy there-. ■ of ' ■ ;.. a 1 0 Conveyance— Of any kind or description what-, soever, upon the sale of any ':. '. property i^ respect of t^e pnii-.^ cipal or only writing, wherepy' # the property sold shall be conveyed to or vested in the purchaser, or any other person or persons by his direction (except transfers expressly provided for by this act) — Where the purchase pr consideration money therein or thereupon expressed shall not exceed LSO 0 5 0 And where the same shall exceed "LSO, and not exceed LIOO .....Q" 10 0 And where the same shall exceed LIOO, then for every LSQ, and - anyifractional part of LSQ ...0 5 0 The consideration must be truly expressed in words upon each principal deed of conveyance, and if value be given in stock or ? other security, 4t s value- must in like mamier be set forth in, . 1 full.: -'.: '■'.'' '. ■■ ■'■".' •'' When consideration is in Govern-. U viheiit -or other stock or deben- :■.-;." . V tui-cs, the duty is payable pn .■";■*■• the average selling p'iic'e at the •: time of the conveyance. :\ V ' : Property, held .under, different •titles,; sold at phe entire price,

jnust be conveyed i<o -buyer 'in separate parcel^, sp/jihat a , dis; tiuct price may be expressed QU each conveyance, tp be charged with the ad valorem duty. Property contracted for by several ' persons jointly,: pr by one for himself and qthers, or wholly fpr otjiers at one entire price fqr the whole, shall be conveyed in parcels by separate worcls con-: taining staty»n'eiis pf the share pf purphase money paid for each, sp as to admit of the imposition, i pf an ad valorem Stamp Duty, j Where separate parcels 'are con? veyed to tho use of different per-, sons in pne deed, sueli deed shaU be charged m respect of \h& ' ■ aggregate purchase money. ," In case pf a sub-sale pf property before a cpnveyance has been made, the conveyance shall then betothesub-purchaser, with the pripe statedinthe principal deed. "When the sub-sale is made tp. various indiViduals for different parts of the property,; separate ' conveyances, shall be made tp : each with the consideration ejf- ■ . . pressed on the prjucipal deed, In cases pf sub-sale, the sub-seller and purchaser deemed the seller and purchaser within the mean^ ing of the Act. But in case of : an aptual ponvey? • a.nee pf the interest of the person immediately selling to ,the sub? purchaser, which shallbe chargeableiwith ad vftlg reyi duty, any deed or conveyance made to sub: purchaser afterwards by original seller shall be free pf ad valprew duty, aud liable only to pf diiiary stamp as a deed, Where property bought of dif: f erent persons is conveyed to the ; buyer by a single deed, %c ad vulweyi duty on the deed is cal? culated on. the aggregate of the various purchase moneys. Land sold subject to mortgage, ortp. any sum afterwards to be paid, duty 'is payable on the value of siich mortgage or subsequent payment. Exemptipns frpm the preceding Duties pn cpnveyances — Any grant from the Crown under, the hand of the Ctovernor for the time being of the Colony of New '■' Zealand to any purqhaser of .. Crown Lands in' New Zealand. Any certificate pf title granted . under the 'of the Registrar. (General, pursiiaut tp '•' The Land Registry Act, I§6Q." Deed, or iiistrument pf any kind whatever, not otherwise charged in this Schedule ...,0 V 0 Exemptions from the preceding duties on deeds or instruments npt ptherwise charged in this .- SchedulerApprenticeship and C'lerkshipTiAll iustiniments relating to the services of apprentices, clerks, or servant^. Mortgage— £ll bonds and mort-. gages, whether affecting real or personal estate, bill of sale by way of mortgage, aud all transt fers, agreements, releases, re-: conveyances,, and. discharge^ theveof. fc . All preferable liens under " The Wool and Oil Securities Act, -. 185?;"., ' ' ■■ * A ll Customs bonds All administration bonds A4l bonds on appointment of special bailiffs. ' Dkaft, or order, including cheq\ies, or orders on bankers for the pay, ment of any sum pf money to a payee named, pr to a bearer, or to order, either pn demand or ptherwise, nptptherwisepharged 0 Q 1 Lea«e, pr agreement for a lease, or any written dpcument for the tenancy, or occupancy of any lands, tenements, or heredity-, ments, witliout any cousiderat tion by way of premnim, the following duties in respect of the yearly rent-^-Where the . yearly rent shall not exceed L5O ... 0 2 6 Where the same shall exceed L5O, and npt exceed Lj 00 ... 0 5 0 Above LlOb. for every fractional part of LSO " ..." 0 2 6 Leask, or agreement for- a lease of any lan'ds^ tenenients, or hereditaments, granted in considehir tion of a su,na of mpi\ey by way of premium, without rent or\v\th. an annual rent ($). Lease of any' lands, tenements, oy> hereditaments, granted in consideration of a sum of nipriej' by way of premium, and, also of a /yearly rent amounting to L2O and upwards (<}). -Exemptions frqm^ the, j)receding duties on leases — . Leases granted by the Crown of any Waste Land? under, the provisions pf any Waste Laiids Act, or Gold Fields Act. " ■ Memorandum of transfer under "The Land Registry Act, 1800" (c). Policy of Insue'akce, or other instrument whereby any insurance shall be made upon any ship or vessel, or upon any goods, merchandise,- or other * property on board of any ship or vessel, pr upon the freight therepf, cpvei'ed by a Time Policy for any period not exceeding three months ... (1 2 6 And for all other Marhie Policies, for every sum of LlOO, and for every fractional part of L 100... 0 1 0 Promissory Notes, payable to the bearer on demand, issued, by any Bank pr Banking C'pmpaaiy, at 1 the rate of, for every. LI OO, of the average annual amount in circulation, as certified unde? the "Banker's Returns Act, 1858" ■'; ' ;.. 2 0, q Receipt, or disQh.arge given for or .= on paj'ment pr any* sum pf money of the amount of L 5 or upwards . ... 0 : Q \ Exemptions fr6s\ the preceding duties on receipts-T-Receipts given fpr ;or upon the payment of money to or for the tise of, or :by or pn behalf of I her Majesty. ', < . Receipts endorsed, upon ; any in-i > strument duly staniped under this Act,; acknowledging the receipt pf 1&e money therein expressed. .