THE STAMP ACT.

West Coast Times, Issue 627, 27 September 1867, Page 4

THE STAMP ACT.

SCHEDULE TO "STAMP DUTIES ACT, 1866." SCIIEDTJLE I.

CONTAINING THE DUTIES ON DEEDS AND OTHER INSTRUMENTS RELATING TO TIJ VSSACTIOXS BETWEEN LIVING PERSONS.

Agreement or any minute or memorandum of an agreement under hand only where the matter thereof shall be of the value of L2O 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 endorsed thereon or annexed thereto, Is : Provided always that where divers letters 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 shall be stamped with a duty of two shillings and sixpence.

BIILS OF EXCHANGE.

Inland Bill of Exchange Draft or Order for the payment to the bearer or to order at any time otherwise than on demand of any sum of money not exceeding LSO, le. Ditto not exceeding LIOO, 2s. And where the same shall exceed LIOO then for every LSO and also for any fractional part of LSO, Is. Foreign Bill of Exchange drawn 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 smn payable shall not exceed LSO, Gd.

And where it shall exceed LSO and not exceed LIOO, Is.

And where the same shall exceed LIOO then for every LSO and also any fractional part of LSO, 6d.

If drawn in sets of three or more for every Bill of each set where the sum payable thereby shall not exceed LSO, 4d.

And where it shall exceed LSO and not exceed LIOO, Bd.

And where the same shall exceed LIOO then for every LSO and abo any fractional part of LSO, 4d.

Exemptions from the foregoing duties on Bills of Exchange — All Debentures and Treasury Bills issued by the Government of Now Zealand All Drafts or Orders for tho payment of any sum of money to the bearer on demand drawn upon any Banker person or company are exempt from the foregoing duties but arc subject to the duty of Id charged upon drafts or orders.

Bill of Exchange drawn out of the Colony but indorsed 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 ■'ny sum of money not exceeding L 25, 6d. Exceeding L 25 not exceeding LSO, Is. Promissory note for tho payment either to 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 LIOO, 2s.

Where the sum shall exceed LIOO then for every LSO and fractional part of LSO, Is. - 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 oh demand issued by any Bank or Banking Company in New Zealand authorised 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 the bearer or to order and whether delivered to the payeo or not and all writings or documents entitling any person to the payment by any Bank or Banking Company of any sum of money whether the person to whom payment is to be made shall bo 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 tho same had been made payable to bearer or to order.

Bill of Lading or receipt in lieu thereof from the Master Male or Agent of any vessel for any goods merchandise or effects to be carried to any place beyond the boundaries of the Colony —

For every such Bill of Lading or Receipt or copy thereof, Is.

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 vested in the purchaser or any other person or persons by his directions (except transfers expressly provided for by this Act) —

When the purchase or consideration money therein or thereupon expressed shall not exceed LSO, ss.

And where the same shall exceed LSO and not exceed LIOO, 10s.

And where the same shall exceed LIOO then for every LSO and any fractional part of LSO, ss.

The purchase money or consideration shall be trnlly expressed and set forth in words at length in or upon every such principal or only deed or instrument of conveyance and where such consideration shall consist cither wholly or in part of nny stock or security the value thereof respectively to be ascertained as hereinafter 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 auy stock in any of the public funds or Government Debentures or stock or any debenture or stock of any person payable only at tho 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 tho average selling price thereof respectively on the day or on cither of the ten days preceding 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 bo recoverable by tho holder or any other security whatsoever whether payable in money or otherwise then such calculation shall be made according to the som 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 purchaso or consideration money shall be divided and apportioned in such manner as fcho parties shall think lit so that a distinct price or consideration for each separate part or parcol may be set forth in 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 set forth.

And where any property contracted to be purchased by two or more persons jointly or by nny person for himself and others or wholly for others at one entire price for the whole shall bo conveyed in parts or parcels by so* parate deeds or instruments to tho person for whom the sume shall be purchased for distinct parts or shares of the purchase money the priucipal or only deed or instrument of conveyance of each separate part or parcel shall bo charged with the laid ad valorem duty iv

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 tho use of or in trust for different persons in and by one and the sumo deed or instruments then such deed or instrument mall be charged with the said a<l 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 bIiuII 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-purchaser. 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 conveyauce of each part part or parcel thereof shall be charged with the said ad valorem duty in respect only of the purchase 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-salea as aforesaid the sub-purchaser and the person immediately selling to him shall be deemed and taken to be the purchaser and seller within the intent and 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 chargeed 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 Bhall 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 same.

And where any property shall be sold and conveyed in consideration wholly or in. part of of any sum of money charged theron by way of mortgage or otherwise and then due and owing to the purchaser or shall be sold and conveyed subject to any mortgage or other debt or to any gross or entire sum of money to bo 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 preceding 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 the hand of the Registrar-Q-eneral pursuant to "The Land Registry Act 1860." Deed or instrument of any kind whatever not otherwise charged in this Schedule, 10s. Exemptions from the preceding duties on deeds or instruments not otherwise charged in this Schedule —

Apprentices aud clerkships — All instruments relating to the services of apprentices clerks or servants.

Mortgage — All bonds and mortgages whether affecting real or personal estate bills of sale by way of mortgage and all transfers agreements releases re-conveyances and discharges thereof.

All preferable liens under " The Wool and Oil Securities Act 1858." All Customs bonds. All Administration bonds. All Bonds on appointment of special bailiffs.

Draft or order including cheques or orders on bankers for the payment of any sum of money to a payee named or to bearer or to order either on demand or otherwise not otherwise charged, Id. Lease or agreement for a lease or any written document for the tenancy or occupancy of any lands tenements or hereditaments without any consideration by way of premium the following duties in respect, of the yearly rent — Where the yearly rent shall not exceeed LSO, 2s 6d.

Where the same shall exceed LSO and not exceed LIOO, ss.

Above LIOO for every fractional part of LSO, 2s 6d.

Lease or agreement for a lease of any lands tenements or hereditaments granted in consideration of a sum of money by way of premium without rent or with an annual rent — The ad valorem duties payable upon a conveyance calculated on the consideration by .way of premium expressed therein. Lease of any lands tenements or hereditaments granted in consideration of a sum of money by way of premium and also of a yearly rent amounting to L2O and upwards. — Both the ad valorem duties payable upon a conveyanW according to the consideration therein expressed and for a lease in consideration of a rent of the same amount. Exemptions from the preceding duties on leases — Leases granted by the Crown of any waste lands under the provisions of any Waste Lands Act or Groldfields Act.

Memorandum of transfer under " The Land Registry Act 1860." — The same duty as for a conveyance for the lalo of lands for a like sum the consideration of such transfer. Policy of Insurance 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 or upon the freight thereof — covered by a time policy for any period not exceeding three months, 2s 6d.

And for all other marine policies — for every sum of LIOO and for every fractional part of LIOO, Is.

Promissory Notes payable to the bearer on demand issued by any Bank or Banking Company at the rate of for every one hundred pounds of tho average annual amount in circulation as certified under the " Bankers Returns Act 1838," 2s.

Receipt or dischargo given for or on payment of any sum of money of the amount of five pounds or upwards Id.

Exemptions from tho preceding duties on receipts — Eeceipts given for or upon the payment of money to or for the use of or by on behalf of Her Maiesty.

Eeceipts indorsed upoi any instrument duly stamped under this Act acknowledging the receipt of the consideration money therein expressed.

Acknowledgment given for money deposited in any Banks to be accounted for.

Receipts for moneys paid into Land Building and Providend Societies.

Transfer except by way of mortgage of any run or station held under lease or license or promise of lease or license from the Crown or of any interest therein where the declared value of tho said run or station or interest or tho value thereof assessed as in this Act provided shall not exceed LIOO, 10s.

Aud where such value shall exceed LIOO then for every LIOO and any fractional part of LIOO, 10s,

Transfer o any share or shares in the stock and funds of any corporation company or" society whatever in New Zealand upon sale thereof —

Where the purchase or consideration money therein expressed shall not exceed L2O, Is. Exceeding L2O and not exceeding. LSO, 2s 6d. 5 Exceeding LSO not exceeding LIOO, ss. For every additional LSO or fractional nart of LSO, 2s 6d. l

Schedule 11. CONTAINING- THE DUTIES ON MOBATE3 OF

WILLS AND LETTERS OF ADMIX rSTB^tION. Probate of a Will and Letters of Administration with a will annexed where the effects as sworn to by the Executor or Administrator shall be — Under the value of LIOO, Ll. Above the value of LIOO and under L2OO, 'L 3.. Above the value of L2OO and under L 300; L 3. Above the value of L3OO and under L4OO, L 4 Above the value of L4OO and under LSOO, L 5. And above LSOO, one per cent. Letters of Administration without a Will annexed where the effects as sworn to by the Administrator shall be — Under the value of LIOO, Ll 10s. Above the value of LIOO and under L2OO, L 3. Above the value of L2OO and under L3OO, L 4 10s. Above the value of L3OO and under L4OO, L 6. Above the value of L4OO and under LSOO, L 7 10s. And above LSOO, one and a half per cent. Schedule 111. CONTAINING- THE DUTIES ON LEGACIES AND SUCCESSIONS TO PERSONAL ESTATE UNDEB ANT TESTAMENTARY DISPOSITION OR UPON INTESTACY. For every legacy specific or pecuniary or of any other description of the amount or value of L2O or upwards given by any will or testamentary instrument of any person who shall have died after the passing of this Act either out of 'his or her personal estate or out of or charged upon his or her real estate or out of any moneys to arise by sale mortgage or other disposition of his or her real estate or any part thereof and which shall be paid delivered retained satisfied or discharged after the passing of this Act.

Also for the clear residue (when devolving to one person and for every share of the clear residue when devolving to two or more persons) of the personal estate of any person who shall have died after the passing of this Act (after deducting debts funeral expenses legacies and other charges first payable thereout) whether the title to such residue or any share thereof shall accrue by virtue of any testamentary disposition or upon a partial or - total intestacy where such residue or share of residue shall be of the amount or value of L2O or upwards and where the same shall be paid delivered retained satisfied or discharged after the passing of this Act.

And also for the clear residue (when given to one person) and for every share of the clear residue (when given to two or more persons) of the moneys to arise from the sale mortgage or other disposition of any real estate directed to be sold mortgaged or otherwise disposed of by any will or testamentary instrument of any psrson who shall have died after tlie passing of this Act (after deducting debts funeral expenses legacies and other charges first made payable thereout if any) where such residue or share of residue shall amount to L2O or upwards and where the same shall be paid retained or discharged after the passin o of this Act.

Where any such legacy or residue or any share of such residue shall have been given or have devolved to or for the benefit of a child of the deceased or any descendant of a child of the deceased or to or for the benefit of the father or mother or any lineal ancestor of the deceased a duty at and after the raWbf one pound per centum on the amount or value thereof, Ll per cent.

Where any such legacy or residue qr.aß%share of such residue shall have been given or have devolved to or for the benefit of a brother or sister of the deceased or any descendant of a brother or sister of the deceased a duty at and after the rate of three pounds per centum on the amount thereof, L 3 per cent. Where any such legacy or residue or any share of Buch residue shall have been given or have devolved to or for the benefit of a brother or sister of the father or mother of the deceased or any descendant of a brother or sister of the father or mother of the deceased a duty at and after the rate of five pounds per centum on the amount or value thereof, L 5 per cent. Where any such legacy or residue or any share of such residue shall have been given or have devolved to or for the benefit of a brother or sister of a grandfather or grandmother of the deceased or any descendant of a brother or sister of a grandfather or grandmother of the deceased a duty at and after the rate of six pounds per centum on the amount or value thereof, L 6 per cent.

And where any such legacy or residue or any share of such residue shall have been given or have devolved to or for the benefit of any person in any other degree of collateral consanguinity to the deceased than is above described a duty at and after the rate of seven per centum on the amount and value thereof, LV per cent.

And where any such legacy or residue or any share of such residue shall have been given or have devolved to or for the benefit of any stranger in blood to the deceased a duty at and after the rate of ten pounds per centum on the amount or value thereof, LlO per cent. And all gifts of annuities or by way of annuity or of any other partial benefit or interest out of any such estate or effects as aforesaid Bhall be deemed legacies within the intent and meaning of this Schedule.

And where any legatee shall take two or more distinct legacies or benefits under any will or testamentary instrument which shall together be of the amount or value of L2O each shall be charged with duty though each or either may be separately under that amount or value.

Exemptions from the foregoing duties all Legacies and Residues or Shares of Residue of any estate or effects given or devolving to or for the benefit of the husband or wife of the deceased.

Schedule IV. , < DUTIE3 ON SUCCESSIONS TO REAL AND PBBSONAL ESTATE.

Where the successor shall be the lineal issuo or lineal ancestor of the predecessor a duty upon the value of the succession at the rate of Ll per cent. Where the successor shall be a brother or sister to a descendant of a brother or sister of the predecessor a duty upon the value of the succession of L 3 per cent. Where the successor shall be a brother or a sister of the father or mother or a descendant of a brother or sister of tho father or mother of the predecessor a duty upon the value of the succession of L 5 per cent. Where the successor shall be a. brother or sister of tho grandfather or grandmother or a descendant of a brother or sister of the grandfather or grandmother of the predecessor a duty upon the value of the succession of L 6 per cent. Wlici c the sii>-cessor shall be in any other degree of collateral consanganuity to the predecessor than is hereinbefore described a duty upon Iho value of the succession of L 7 per cent. "> Where the successor shall be a stranger in blood lo the predecessor a duty upon the value of the succession of LlO per cent. Exemptions from the foregoing duties. All successions given to or in trust for or which shall devolve upon or bo acquired by the 4iusband or wife of the predecessor.