NEW ZEALAND STAMP DUTIES.

Westport Times, Volume II, Issue 180, 27 February 1868, Page 4

NEW ZEALAND STAMP DUTIES.

The Schedule of tho Stamp Act arc | ur in number. The first contains ic duties on deeds and other instruments relating to transactions between ring persons ; the second, the duties i probates of wills and letters of [ministration • the third, the duties ii legacies and successions to personal date under any testamentary disosition or upon intestacy ; the fourth, uties on successions to real or perxnal estate. The following is a summary of the uties imposed. (Several exemptions re omitted owing to their length) . Schedule I.

Aciuekmknt or any minute or lemorandum of an agreement under .and only where the matter thereof hall be of the value of 20/ or uprards together with every schedule eceipt or other matter put or indorsed thereon or annexe! thereo 0 10 Provided always that where divers ettcrs shall be offered in evidence ;o prove an agreement between the mrties who shall have written such etters it shall be sufficient if _ any mch letters shall be stamped with a luty of two shillings and sixpence. Eixr-s op Exchange.—lnland

Bill of Exchange Draft or Order not Bxceeding 50/ . . .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 50/ . . . • .010

Foreign Bill of Exchange.—-The same duty as on an Inland Bill of the same amount and tenor . 0 0 G Where the sum payable shall not exceed 50/ . . . . 0 0 (3 50/ and not exceeding 100/ 0 1 0 And the same shall exceed 100/ then for every 50Z and also for any fractional part of 50?. . 0 ~0 G If drawn in sets of three or more for every Bill of each set where the sum payable thereby shall not exceed 501 . . - .004 50/ and not exceeding 100/ 0 0 8 And where the same shall exceed 100/ then for every 50/ and also for any fractional part of 50/ .004 All drafts or orders for the payment of any sum of money to the hearer on demand drawn upon any Banker person or company arc 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 251 . ■ ■ .006 Exceeding 257 not exceeding 50/ . . • • .010 Promissory Note for the payment either to the hearer on demand of any sum of money exceeding 501 and not exceeding 100Z .020 Where the sum shall exceed 1001 then for every 501 and fractional part of 507 • • .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 hearer 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 501 0 5 0 Exceeding 507 and not exceeding 1007 . . • . 0 10 0

Where it shall exceed 100/ then for every 50/ and any fractional part of 50Z . • • ■ 0 5 0 The purchase money or consideration shall be truly expressed and set forth n words at length in or upon every such principal or only deed or instrument of conveyance Exemptions from Duties on Conveynces — 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, ISGO."

Dees or instrument of any kind whatever not otherwise charged in i this Schedule . . . 0 10 0 I)haft or Older including cheques I or orders on Bankers for the payment of any sum of money to a payee named or to bearer or to order eiher on demand or otherwise not otherwise charged . . . .001 Leasic or agreement for a lease ov any written document for the tenancy or occupancy ol 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 exceed 50/ . . . .020 Exceeding 507 and not exceeding 100/ 0 5 0 Above 100? for every fractional part of 50/ . . ' . 0 2 6 Lease or agreement for a leae 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 i upon the above instrument are—Both the ad valorem duties payable upon a conveyance according to the consideration therein expressed and tor a lease ) i 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 th consideration of such transfer.] Policy of Insurance or other in-

strument 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 parb of 100/ . .010 Promissory Notes payable to bearer on demand issued by any batik or banking company at the rate of for every 100/ of the average annual amount in circulation as certified under "The Bankers Heturns Act, ISSS" . . • .200 Receipt or discharge given for or on payment of any sum of money of the amount of 5/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 money 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 <iny run or station held under lease o:' 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 100Z . . . 0 10 0 "Where such value shall exceed 100? then for every 100Z and any fractional part of 1007 0 10* 0 Transfer of any share in the stock and funds of any corporation company or society whatever in New Zealand upon sale thereof- Win re the purchase or consideration therein expressed shall not exceed 201 0 10 Exceeding 207 aud not exceeding 50 . . . 0 2 G Exceeding 501 and not exceeding 1007 . . .050 For every additional 501 or fractional part of 507 .026

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. 10Z 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 20?, 2s 6d for 507, and 2 s 6d for every additional 501 or less amount of value.