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This is a Bill, not an Act. For current law, see the Acts databases.
Serial 89
Stamp Duty
Amendment Bill 2023
Ms
Lawler
A Bill for an Act to amend the Stamp Duty Act 1978
NORTHERN TERRITORY OF AUSTRALIA
STAMP DUTY AMENDMENT ACT 2023
____________________
Act No. [ ] of 2023
____________________
Table of provisions
Part 16 Transitional matters for Stamp Duty Amendment Act 2023
116 Changes
to dutiable property
NORTHERN
TERRITORY OF AUSTRALIA
____________________
Act No. [ ] of 2023
____________________
An Act to amend the Stamp Duty Act 1978
[Assented to [ ] 2023]
[Introduced [ ] 2023]
The Legislative Assembly of the Northern Territory enacts as follows:
This Act may be cited as the Stamp Duty Amendment Act 2023.
This Act is taken to have commenced on 9 May 2023.
This Act amends the Stamp Duty Act 1978.
4 Section 4 amended (Interpretation)
(1) Section 4(1), definitions franchise arrangement, franchisee and lessee
omit
(2) Section 4(1)
insert
lessee means a person to whom a lease is granted or agreed to be granted.
(3) Section 4(1), definition agreement, paragraph (b)
omit
agreement; and
insert
agreement.
(4) Section 4(1), definition agreement, paragraph (c)
omit
(5) Section 4(1), definition business undertaking
omit
profit including a business carried on under or in pursuance of a franchise arrangement.
insert
profit.
(6) Section 4(1), definition conveyance, paragraph (a)
omit, insert
(a) the grant of property, but not the grant of a lease other than a convertible Crown lease;
(7) Section 4(1), definition dutiable property, paragraphs (b), (c), (d), (e), (f), (g) and (ga)
omit
(8) Section 4(1), definition lease, paragraph (c)
omit
sublease; and
insert
sublease.
(9) Section 4(1), definition lease, paragraph (d)
omit
5 Section 4C repealed (Duty assessable on certain franchise arrangements as if conveyance of dutiable property)
Section 4C
repeal
6 Section 4D amended (Surrender of property amounts to conveyance in certain circumstances)
Section 4D(2)(c), example
omit
a franchise arrangement.
insert
an easement.
7 Section 9 amended (Time for lodgement of instrument etc.)
Section 9(3)(c)
omit, insert
(c) an instrument that is exempt from duty under item 9, 10, 12 or 15 of Schedule 2.
8 Sections 9BA and 9BB repealed
Sections 9BA and 9BB
repeal
After section 115
insert
Part 16 Transitional matters for Stamp Duty Amendment Act 2023
116 Changes to dutiable property
(1) The provisions of this Act as in force immediately before 9 May 2023 apply to a conveyance of dutiable property if:
(a) the conveyance was first executed before that date; or
(b) the conveyance replaces an earlier conveyance, first executed before that date, of the same or substantially similar dutiable property; or
(c) a person entered into an agreement or option, before that date, to purchase the dutiable property to which the conveyance relates or substantially similar dutiable property; or
(d) a person had an option, granted before that date, to require another person to purchase the dutiable property to which the conveyance relates or substantially similar dutiable property.
(2) In subsection (1):
conveyance has the meaning in section 4 as in force immediately before 9 May 2023.
dutiable property has the meaning in section 4 as in force immediately before 9 May 2023.
10 Schedule 2 amended (Exemptions from duty)
(1) Schedule 2, items 9 to 11
omit, insert
9 Grant of a resource interest unless, in the opinion of the Commissioner, the grant forms part of a wider transaction amounting in effect to a transfer of the resource interest.
10 Conveyance of chattels as part of a transaction that:
(a) includes a conveyance or grant of a lease, or an interest in a lease, of land for nil or only nominal dutiable value; and
(b) does not include a conveyance of any other dutiable property.
(2) Schedule 2, item 12A
omit
This Act is repealed on the day after the day on which the Administrator's assent to this Act is declared.
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