SCHEDULE TO "STAMP DUTIES ACT, 1866."

North Otago Times, Volume VII, Issue 167, 28 December 1866, Page 3

SCHEDULE TO "STAMP DUTIES ACT, 1866."

Schedule I. Containing the Duties on Deeds and other Instruments relating to transactions between living persons. Aqbeement or any minute or memorandum s. d. of an agreement under hand only where the matter thereof shall be of the value of L20 or upwards, whether the same shall only be evidence of a contract or obligatory on the parties from its being a written instrument, together with every schedule, receipt, or other matter put or indorsed thereon, or annexed thereto . . ..10 Provided always that where divers let«*ak ters shall be offered in evidence to ) prove any agreement between the parties who shall have written such letters, it shall be sufficient if any of such letters will be stamped with a duty of two shillings and sixpence. Blixs of Exchange — Inland Bill of Exchange, Draft, or Order for the payment to the bearer or to order at any otherwise than on demand of any sum of money not exceeding L50 . . . . ..10 Ditto, not exceeding L100 . . ..20 And where the same shall exceed L100, then for every L50, and also for any fractional part of L50 . . ..10 Foreign BD1 of Exchange, dr»wn in, but payable out of, the Colony of New Zealand — If drawn singly, or otherwise than in a set of two or more — (The same duty as on an Inland Bill of the same amount and tenor) If drawn in sets of two, then for every Bill of each set where the sum payable shall not exceed L50 . . ..06 And where it shall exceed L50 and not exceed L1O0 .. .. ..10 And where the same shall exceed LlOO, then for every L50, and also any fractional part of L50 . . . . ..06 If drawn in sets of three or more, for every Bill of each set, where the Bum payable thereby shall not exceed L50 0 4 And where it shall exceed L50 and not exceed LlOO .. .. ..0 8 And where the same shall exceed LlOO, then for every L50, and also any fractional part of L50 . . . . ..04 Exemptions from the foregoing duties on Bills of Exchange. — All Debentures and Treasury Bills issued by the Government of New Zealand. All Drafts or Orders for the payment of any sum of money to the bearer on demand drawn upon any Banker, person, or company, are exempt from a the foregoing duties, but are subject to the duty of Id. charged upon Drafts and Orders. Bills of Exchange drawn out of the Colony, but endorsed or negotiated within the Colony, the same duties as on a Bill of Exchange drawn within the Colony and payable within the Colony — (The same duty as on an Inland Bill of the same amount and tenor.) Promissory Note, for the payment in any other manner than to the bearer on demand of any sum of money not exceeding L25 . . . . ..06 Exceeding L25, not exceeding L50 ..10 Promissory note for the payment, either to the bearer, on demand, or in any other manner than to the bearer on demand, of any sum of money exceeding L50 and not exceeding LlOO ..20 Where the sum shall exceed LlOO, then ( for every L50. and fractional part of -«L50 '.. .. .. * ..10 Exemptions from the foregoing duties on Promissory Notes, but not from any other duty to which the same may be liable. — All Promissory Notes for the payment of money on demand issued by any Bank or Banking Company in New Zealand, authorized to issue such notes and making such returns and paying such compositions as in this Act respectively mentioned. All Bills, Drafts or Orders, or Promissory Notes for the payment by any Bank or Banking Company of any sum of money though not made payable to to the bearer or to order, and whether delivered'to the payee or not, and all writings or documents entitling any

person to the payment by any Bank s. d. or Banking Company of my sum of money, whether the person to whom payment is to be made shall be named or designated therein or not, or whether the same shall be delivered to him or not, shall respectively be deemed to be Bills, Drafts, or Orders for the 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 the Master, Mate or Agent of any vessel for any goods, merchandise or effects to be earned to any place beyond the boundaries of the Colony ; for every such Bill of Ladng or receipt or copy thereof . . ..10 Conveyance of any kind or description whatsoever upon the sale of any property in respect of the principal or only writing whereby the property sold shall be conveyed to or Tested in the purchaser or any other person or persons by his direction (except transfers expressly provided for by this Act) — Where the purchase or consideration money therein or thereupon expressed shall not exceed L50 ..50 And where the same shall exceed L50 and not exceed L100 . . . . 10 0 And where the same shall exceed LlOO then for every L50 and any fractional part of L60 . . ..50 The purchase money or consideration shall be truly expressed and set forth in words at length in or upon every such principal or only deed or instrument of conveyauce, and where such consideration shall consist either wholly or in part of any stock or security, the value thereof respectively to be ascertained, as herein after mentioned, shall also be truly expressed and set forth in manner aforesaid in or upon every such deed or instrument, and such value shall be deemed and taken to be the purchase or consideration money, or part of the purchase or consideration money, as the case may be, in respect whereof the " ad valorem" duty shall be charged as aforesaid. And where the consideration or any part of the consideration shall be any stock in any of the public funds or Government Debentures, or stock or any debenture or stock of any person payable only at the will of the debtor, the said duty shall be calculated (taking the same respectively, whether constituting the whole or a part only of such consideration), according to the average selling price thereof respectively, on the day or on either of the ten days proceeding the day of the date of the deed or instrument of conveyance, or if no sale shall have taken place within such ten days, then according to the average selling price thereof on the day of the last preceding sale; and if such consideration, or part of such consideration, shall be a mortgage, judgment, or bond, or a debenture, the amount whereof shall be recoverable by the holder or any other security whatsoever, whether payable in money or otherwise, then such calculation shall be made according to the sum due thereon for both principal and interest. And where any lands or other property of different tenures or holdings, or held under different titles, contracted to be sold at one entire price for the whole, shall be conveyed to the purchaser in separate parts or parcels by different deeds or instruments, the purchase or consideration money shall be divided and apportioned in such manner as the parties shall think fit, so that a distinct price or consideration for each separate part or parcel may be set forth m or upon the principal, or only deed or instrument of conveyance relating thereto, which shall be charged with the said " ad valorem" duty in respect of the price or consideration money therein Bet forth. And where any property contracted to be purchased by two or more persons, jointly or by any person for himself and others, or wholly for others, at one entire price for the whole, shall be conveyed in parts or parcels by separate deeds or instruments to the person for whom the same Bhall be purchased for distinct parts or shares of the purchase money, the principal or only deed or instrument of conveyance of each separate part or parcel shall be charged with the said "ad valorem " duty in respect of the sum of money therein specified as the consideration for the same. But if separate parts or parcels of such property shall be conveyed to, or to the use of, or in trust for different persons, in and by one and the same deed or instrument, then such deed or instrument shall be charged with the said "ad valorem" duty, in respect of the aggregate amount of the purchase or consideration moneys therein mentioned to be paid or agreed to be paid for the property thereby conveyed. And where any person having contracted for the purchase of any property, but not having obtained a conveyance thereof, shall contract to sell to any other person, and the same shall in consequence be conveyed immediately to the sub-purchaser the principal or only deed or instrument of conveyance shall be charged with the said "ad valorem" duty in respect of the purchase or consideration money therein mentioned to be paid or agreed to be paid by the sub-pur-chaser. And where any person having contracted for the purchase of any property, but not having obtained a conveyance thereof, shall contract to sell the whole or any part or parts thereof, to any other person or persons, and the same shall in consequence be conveyed by the original seller to different persons in parts or parcels, the principal or only deed or instrument of conveyance of each part or parcel thereof, shall be charged with the said " ad valorem" duty in respect only of the purtbase or consideration money which shall be therein mentioned to be paid or agreed to be paid for the same by the person to whom, or to whose use, or in trust for whom, the conveyance shall be made, without regard to the amount of the original purchase money. And in all cases of such sub-sales as aforesaid, the sub-purchaser and the person immediately selling to him shall be deemed and taken to be the pur-

chaser and seller within the intent and s. d. meaning of this Act. But where any sub-purchaser shall take an actual conveyance of the interest of the person immediately selling to him, which shall be chargeable with the said ♦' ad valorem" duty in respect of the purchase or consideration money paid or agreed to be paid by him, and shall be duly stamped accordingly, any deed or instrument of conveyance to be afterwards made to him of the property in question by the original seller, shall be exempt from the said " ad valorem" duty, and be charged only with the ordinary duty on deeds or instruments of the same kind, not upon a sale. And where any property separately contracted to be purchased of different persons, at separate and distinct prices, shall be conveyed to the purchaser or as he shall direct in and by one and the same deed or instrument, such deed or instrument shall be charged with the said " ad valorem" duty in respect of the aggregate amount of the purchase or consideration moneys therein mentioned to be paid or agreed j to be paid for the same. And where any property shall be sold and conveyed in consideration wholly or in part of any sum of money charged thereon by way of mortgage or otherwise, and then due and owing to the purchaser, or shall be told and conveyed, subject to any mortgage or other debt, or to any gross or entire sum of money to be afterwards paid by the purchaser, such sum of money or debt shall be deemed the purchase or consideration money, or part of the purchase or consideration money as the case may be in respect whereof the said " ad valorem" duty is to be paid. Exemptions from the proceeding duties on conveyances — Any grant from the Crown under the hand of the Governor for the time being of the Colony of New .Zealand to any purchaser of Crown Lands in New Zealand. Any certificate of title granted under tbe hand of the Registrar- General pursuant to the " Land Registry Act, 18G0." The remaining Schedules will be given in next Tuesday's issue.