THE NEW STAMP ACT.

Globe, Volume XXII, Issue 2057, 27 September 1880, Page 3

THE NEW STAMP ACT.

On the Ist oE next month the now law relating to receipt and other stamps will come into force, and ea this introduces several alterations in the present practice, it may be worth while (remarks the “Post") to explain its provisions. That which has already excited some attention and some little grumbling is the proviso that “ all receipts given to her Majesty, or to any person on her behalf, shall be chargeable with stomp duty under the provisions of * The Stamp Act, 1875,’ and any exemption of such receipts from stamp duty is repealed.” That is to say, all Government officers will have to give penny-stamped receipts for their monthly salaries, and Government contractors for their contract payments. But, on the other hand, “ all receipts given by or on behalf of the corporation of any county, borough, Road Board, Education Board, or Harbor Board ” sure declared exempt from duty, as also are transfers registered under the “ The Government Insurance and Annuities Act, 1874,” and all assignments or transfers of life insurance policies effected with any company or association. But transfers of shares in public companies are to be taxed 10s, and foreclosures are to bo liable to the same duties as conveyances on sale, while valuations are to be subject to duties ranging from Is (for appraisements up to £2O value) to £l, the latter being leviable on all valuations exceeding £SOO,