NEW ZEALAND STAMP DUTIES

Westport Times, Volume 1, Issue 140, 11 January 1868, Page 4

NEW ZEALAND STAMP DUTIES

The Schedule of the Stamp Act are four in number. The first contains the duties on deeds and other instruments relating to transactions between living persons ; the second, the duties on probates of wills and letters of administration ; the third, the duties on legacies and successions to personal estate under any testamentary disposition or upon intestacy; the fourth, duties on successions to real or personal estate. The following is a summary of the duties imposed. (Several exemptions are omitted owing to their length) . Schedule I. AoEEEMENT or any minute or memorandum of an agreement under hand only where the matter thereof shall be of the value of 20/ or upwards together with every schedule receipt or other matter put or endorsed thereon or annexed thereto . . . . .010 Provided always that where divers letters shall be offered in evidence to prove an agreement between the parties who shall have written such letters it shall be sufficient if any such letters shall be stamped with a duty of two shillings and sixpence. Bills of Exchange.—lnland Bill of Exchange Draft or Order not •exceeding 50Z . . .010 Ditto, not exceeding 100/ 0 2 0 And where the same shall not exceed 100/ then for every 50/ and also for any fractional part of 501 0 10 Foreign Bill of Exchange.—The same duty as on an Inland Bill of the same amount and tenor . 0 0 6 Where the sum payable shall not exceed 50/ . . . . 0 0 G

50Z and not exceeding 100Z 0 10 And the same shall exceed 100Z then for every 501 and also for any fractional part of 50Z . .0 0 6 If drawn in sets of three or more for every Bill of each set where the sum payable thereby shall not exceed 501 . . . .004 50Zand not exceeding 100Z 0 0 8 And where the same shall exceed 1001 then for every 501 and also for any fractional part of 50Z .004 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 the foregoing duties but are subject to the duty of Id charged upon drafts or orders.

Bill of Exchange drawn out of the Colony—The same duty as on an Inland Bill of the same" amount and tenor.

Promissory Note not exceeding 252 . ... 0 0 6 Exceeding 25/ not exceeding 50Z 0 10 Promissory Note for the payment either to the bearer on demand of any sum of money exceeding 50/ and not exceeding 100/ .020 Where the sura shall exceed 100/ then for every 50/ and fractional part of 501 . . . .010 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 payee 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 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 or copy thereof . . .010 Conveyance— Of any kind or description whatsoever (except transfers expressly provided for by this Act) — Where the purchase of consideration money therein or thereupon expressed shall not exceed 50/ 0 5 0 Exceeding 50/ and not exceeding 100/ 0 10 0 Where it shall exceed 100/ then for every 50/ and any fractional part of 50/ . . .050

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 conveyance Exemptions from 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-General pursuant to " The Land Registry Act, 1860."

Dekd or instrument of any kind whatever not otherwise charged in this Schedule . . . 010 0

Draft or Order including cheques or orders on Bankers for the paymer.t of any sum of money to a payee named or to bearer or to order either on demand or otherwise not otherwise charged . . . .001

LEASE or agreement for a lease ov 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— AVhere the yearly rent shall not exceed 501 . . , .020 Exceeding 501 and not exceeding 100/ 0 5 0 Above 100/ for every fractional part of 50/ . . .026

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 amounts payable upon above instruments are—The ad valorem duties payable upon a conveyance calculated on the consideration by way of premium expressed therein.] Lease of any lands tenements or heriditaments granted in consideration of a sum of money by way of premium and also of a yearly rent amounting to 20/ and upwards. [Amounts payable upon the above instrument are—Both the ad valorem duties payable upon a conveyance according to the consideration therein expressed and for a lease in consideration of a rent of the same amount.]

Memorandum of Transfer under " The Land Registry Act, 1860." [The same duty as for a conveyance for the sale of lands for a like sum the consideration of such transfer.] Policy of Insurance or other instrument of ships or cargo for any period not exceeding 3 months 0 2 0 All other marine policies—for every sum of 100?, and every fractional part of 100Z . .010 Promissory Notes payable to bearer on demand issued by any bank or banking company at the rate of for every \OOI of the average annual amount in circulation as certified under "The Bankers Eeturns Act, 1858" . . . .200

Receipt or discharge given for or on payment of any sum of money of the amount of hi or upwards 0 0 1 Exemptions—Receipts for moneys paid to or for Her Majesty; receipts endorsed upon any duty stamped instrument under this Act acknowledging receipt of the consideration mon y therein expressed; acknowledgment given for money deposited in any banks to be accounted for ; receipt for moneys paid into Land Building and Provident 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 or the value thereof assessed as in this Act provided shall not exceed 100/ . . . 0 10 0 Where such value EJhall exceed 100/ then for every 100/ and any fractional part of 100/ . 0 10 0 Transfer of any share in the stock and funds of any corporation company or society whatever in NewZealand upon sale thereof—Where the purchase or consideration therein expressed shall not exceed 20/0 1 0 Exceeding 20/ and not exceeding 50 . . .020 Exceeding 50/ and not exceeding 100/ . . .050 For every additional 50/ or fractional part of 50/ .026 Schedule 11. Probate of a Will and Letters of Administration with a Will annexed where the effects as sworn to by the Executor or Adminstrator shall be— Under the value of 100/ .10 0 Above the value of 100/ and under 200/ . . .200 Above the value of 200/ and under 800/ . . .300 Above the value of 300/ and under 400 . . .400 Above the value of 400/ and tinder 500/ . . .500 And above 500/ one per cent. Letters of Administration, without a Will annexed, where the effects as sworn to by the Executor shall beUnder the value of 100/ . 1 10 0 Above the value of 100/ and under 200/ . . .300 Above the value of 200/ and under 300/ . .. .4 10 0 Above the value of 300/ and under 400/ . . .600 Above the value of 400/ and under 500/ . . . 7 10 0 And above 500/ one a half per cent. Schedule 111. For every legacy specific or pecuniary of any other description of the

amount or valuo of 20Z 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 value thereof—

If to a child or any descendant of a child of the deceased, or to the father or mother or any lineal ancestor —One pound per cent.

To a brother or sister or any descendant of a brother or sister— Three pounds per cent. To an uncle or aunt or their descendants—Five pounds per cent. To a grand-uncle or grand-aunt or their descendants—Six pounds per cent.

To a person in any other degree of collateral sanguinuity—Seven pounds per cent.

To a stranger in blood—Ten pounds per cent.

And ail gifts annuities or by way of annuity or any other partial benefit or interest out of any such estate or effects as aforesaid shall be deemed legacies within the intent and meaning of this Schedule.

Schedule IV. The duties charged on successions are the same as those in previous Schedule on legacies. _ The following among other alterations of the Stamp Act became law on the Ist November. The stamp on an agreement must be cancelled by two of the parties executing such agreement, by their writing their initials or names, and the date of the day and year of writing same. 101 penalty is imposed for signing unstamped receipts. Unstamped receipts are not to be taken in evidence until the duty and penalty are paid. Persons acting as distributors of stamps without being licensed are liable to a penalty not exceeding 201. 201 penalty is imposed for fraudulent removal or second use of impressed or affixed stamps. A fine of 10s to be paid to the Commissioners when any deed or instrument is presented to them for their opinion as to the amount of duty chargeable thereon. Irregularities prior to June 30 to be remedied in various ways specified. Receipts for money deposited at interest in any bank, or in the hands of any banker, now need a stamp. The transfer of miners' property (by which we perceive mining shares are meant) is chargeable at Is for 201, 2s 6d for 50?, and 2s 6d for every additional 501 or less amount of value.