Australian Capital Territory Numbered Acts

STAMP DUTIES AND TAXES (AMENDMENT) ACT 1990 (NO. 18 OF 1990) - SECT 20

20. Sections 30 and 31 of the Principal Act are repealed and the following sections substituted:

“30. The determined amount of tax is payable on—

        (a)     premiums received in the Territory or elsewhere in Australia in respect of life insurance effected in respect of a person domiciled in the Territory when the insurance was effected;

        (b)     premiums received in the Territory or elsewhere in Australia in respect of general insurance effected in respect of—

              (i)     property situated in the Territory when the insurance was effected; or

              (ii)     any act or omission occurring in the Territory; and

        (c)     premiums received in the Territory in respect of general insurance, other than that referred to in paragraph (b), where—

              (i)     tax or stamp duty is not payable under a corresponding law in respect of the premium; or

              (ii)     tax or stamp duty payable under a corresponding law in respect of the premium has not been paid.

“31. Tax is not payable on a general insurance premium of a kind specified in Schedule 2.”.