ABTRACT OF STAMP DUTIES AMENDMENT ACT.

Hawke's Bay Weekly Times, Volume 1, Issue 45, 4 November 1867, Page 275

ABTRACT OF STAMP DUTIES AMENDMENT ACT.

Passed, October, 1867 j came into force, Not. 1.

1* Short Title of this Act shall be the Stamp Duties Act Amendment Act, 1867. Enacts that this Act shall come into operation, Ist November, 1867. ' 'B. "Provides that additional and altered duties as set forth in the schedule are to be levied. Stamp duties now .payable on the instruments mentioned in the first schedule whereon other duties are charged by this Act, are repealed. 6. Provisions of former Act apply to this. 6. The duties on foreign promissory notes to be , denoted by adhesive stamps. 7. Commissioners may ose old dies to denote new duties. .8* Promissory notes are defined, as notes promising the payment of any sura of money out of any particular fond or upon any condition made payable to bearer or order,- and not amounting in the whole to is2o. 6 9- The stamp on an agreement must he cancelled by two ol the parties executing such agreement,‘by their writing their initials or names and the date of the day and year of writing the same. 10. Bills of lading and charter parties are not o be stamped after they are signed, under a penalty of £SO. Except they are brought to the Commissioners within fourteen days after they are signed, when they may be stamped. If brought before them after fourteen days and within one month they may be still be stamped, but are liable to a £lO penally. 11. If any person shall become an assurer upon any insurance on which any duty is made payable, or shall subscribe or underwrite, or make or enter into any contract or agreement or memorandum of any such insurance, or shall receive or contract for any premium or consideration for any such insurance, or shall knowingly take upon himself any Tisk~Ds render himself liable to pay any sum of money upon any loss or contingency relative to such insurance, unless such insurance shall be engrossed, written or printed upon vellum, parchment or paper, duly stamped, or shall be guilty of endeavoring to evade the duties chargeable on such policies of insurance, shall be liable to £IOO penalty. The agent of the assurer or the person receiving any letter or memorandum requesting insurance to pay the duty. 13. Interest or principal on bonds, debentures, nr other securities not to he paid without- the inrfremeat3 being duly stamped, under a penalty of

13. Debentures issued by or on behalf of any provincial Government in New Zealand are exemnt from duty. r 14. Explains Section 31 of former Act. 10. £lO penalty fixed for signing unstamped rcCcipiiSa 16. Unstamped receipts not to be taken in evidence until the duty and penalty are paid. 1 17. Commissioners may authorize persons to cell stamps. 18. Persons acting as distributors of stamps without being licensed, liable to a penally not exceeding £2O. 19. Penalty of £2O fixed for fraudulent removal or second use of impressed or affixed stamps. 20 Impressed stamps need not be cancelled—must not be used as adhesive stamps. 21. Commissioners may require declaration of value of property conveyed in exchange for other properly. 22. Annuities for life are to be valued by refertable contained in the third schedule. . 16 • I he allowance of 50s per cent, to be granted m respect of paper or parchment not previously written upon—presented to be stamped—denotin'* duties chargeable in agreements, bills of exchange promissory notes, hills of lading, drafts or orders for payment of money, receipts, policies of insurance, ana transfer of shares in corporations, to be granted whenever the stamps so applied for shall amount to 45 or upwards. . A-fine of 10s is 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. 25. The Commissioners are authorized to stamp documents which remain unstamped pending the decision of the Supreme Court without pygntW any penalty. ° 26. Irregularities prior to 30th June, 1867, to be remedied as follows: 1. Documents stamped with postage-stamps “ 11 sufficient value prior to 30th June, 1807, shall be deemed valid. 2. Stamps not defaced in. the manner required by law, may be defaced before Ist January, 1868. S. Documents insufficiently stamped, made P™ or to 30th June, 1867, may have stamps affixed of a sufficient value on or before Ist January, 1868. 4. In all cases prior to 30th June, 1867, in which adhesive stamps have been instead of impressed stamps—such use of adhesive stamps shall be held to have been in compliance with the provisions of the Act. 27. "When a conveyance is tendered for assessment of duty, the Commissioners may require evidence by declaration of the consideration. 28. Every Registrar of Deeds shall refuse to register any instrument liable to duly dated after Ist January, 1867, and not duly stamped. 29. Interpretation of any intestate in 44th Section of Stamp Act. 30. Defines meaning of Commisioners. 31 and 32. Amend schedules of Stamp Duties Act.

33. The exemptions from duty are mentioned in 2nd Schedule. 84. Commissioner may stamp native documents.

Schedule I. Additional or altered duties.

s d Promissory Note made or purporting to be made out of the Colony but endorsed negotiated or paid within the Colony the same duty as on an inland bill payable to bearer or to order at any time otherwise than on demand.' Bill of Exchange payable on demand which shall'be endorsed out of the Colony, or - purport to he so endorsed wheresoever the same may.have been drawn, butpaid . within the Colony 0 1 Receipts for money deposited at interest in any hank or in the nands of any bnnVpy 0 1 Agreement by deed ... ... ... ...10 0 Conveyances—- . Where the consideration or any part of the consideration shall be any conveyanceor transfer of other land or property by way or in the nature of an axoWgp shall be charged with the ad valorem duty in respect of the amount which shall he by the person executing the; conveyance / declared to be the value of the.land con-. veyed. 1 ■ , . Where the consideration or any part of the consideration , shall be any' annual v stun of money, payable in perpetuity ifoall ; <•> Jfc valorem iaty in ~ .

respect of the amount which shall according to the Table in Schedule IH hereto annexed appear to he the value _ assigned to such annual sum of money. Assignment or transfer of miners’ property or letters or instrument authorizing the transfer or assignment of miners’ properly where the letter' or instrument is the only act required on the part of the vendor or assignor. Where the purchase or consideration money therein expressed or the value of the property transferred or to be transferred shall not exceed £2O 10 Exceeding £2O and not exceeding £?6 2 6 Exceeding £SO and not exceeding £ioo 6 0 For every additional £SO or fractional partof£6o ... a 6 Exemplification of probate ... ... ... 2 6 Counterpart of lease or agreement by deed... 2 6

Schedule 11. Additional Exemptions from Dufy.

Cheques drafts or orders for the payment or transmission of public money by or on behalf of of her Majesty the Queen, or by or on behalf of the Governor or Colonial Treasurer or by or on behalf of the Superintendent or Provincial Treasurer of any Province. Bonds of officers in the Civil Service of New Zealand or in the Civil Service of any of the Provinces of New Zealand. Letters Patent.

Warrants or other instruments of appointment to office of the General Government or of any Provincial Government. Incenses to occupy land or cut timber under Acts or regulations relating to Crown or waste lands. Policies insuring the holder against risk of loss or damage by fire. Policies of assurance on lives of persons effecting the same. Receipts for deposits in any post office or other savings banks or any society established pursuant to any Act of the General Assembly for the time being in force relating to Building and Land Societies or Friendly Benefit or Industrial Societies. Exemptions from the Duties on Promissory Notes. All notes promising the payment of any sum or sums of money out of any particular fund which may or may not be available or upon any contingency which may of may not be performed or happen where the same shall not be made payable to the bearer or to order if the same shall amount to the su m of £2O or be indefinite. And all other instruments bearing in any degree the form or style of promissory notes but which in law shall be deemed special agreements except those hereby expressly directed to be deemed promissory notes. But such of the notes and instruments here exempted from the duty on promissory notes shall nevertheless be liable to the duty which may attach thereon as agreements or otherwise.

Schedule El. Table of the values of annuities to be used for the calculation of ad valorem duties on conveyances expressed to be made in consideration of the grant of or of a covenant or agreement to grant any annuity or for the calculation of legacy or succession duties. The values of an annuity of £loo per annum, held on a single life.

Tears of Values. Years of Values. Age. & s d Age. & s d Birth ... 946 4 3 48 ... 650 4 9 1 ... 953 6 0 49 ... 635 18 9 2 ... 958 11 0 50 ... 621 9 9 3 ... 963 4 0 51 ... 606 18 6 4 ... 964 8 0 52 ... 592 17 0 5 ... 963 9 9 53 ... 578 18 9 6 ... 960 16 0 54 ... 565 6 6 7 ... 958 12 3 55 ... 551 19 0 8 ... 951 8 3 56 ... 536 15 0 9 ... 945 9 9 57 ... 535 15 0 10 ... 939 1 6 58 ... 512 15 0 11 ... 932 3 6 .59' ... 499 10 6 12 ... 924 16 0 60 ... 486 0 6 13 ... 916 19 3 61 ... 471 17 9 14 ... 908 8 9 62 ... 457 1 0 15 ... 900 4 3 63 ... 441 8 0 16 ... 891 16 6 64 ... 426 4 6 17 ... 883 18 0 65 ... 410 16 3 18 ... 876 12 9 66 ... 395 7 6 19 ... 870 5 6 67 ... 380 19 6 20 ... 864 14 9 68 ... 366 14 3 21 ... 859 18 6 69 ... 352 12 0 22 ,.. 856 10 6 70 ... 338 14 6 23 ... 853 8 3 71 ... 325 4 0 24 ... 850 5 9 72 ... 311 19 9 25 ... 847 0 0 73 ... 298 13 9 26 ... 843 7 3 74 ... 284 16 6 27 ... 838 12 9 75 .. 270 10 3 28 ... 833 10 6 76 ... 255 19 9 29 ... 828 0 6 77 ... 238 18 6 SO ... 822 3 9 78 ... 222 4 9 31 ... 816 0 0 79 ... 206 4 9 32 ... 809 10 3 80 ... 190 11 6 33 ... 802 12 0 81 ... 175 7 3 34 ... 795 4 9 82 ... 160 17 3 35 ... 787 8 9 83 ... 146 5 0 86 ... 779 4 9 84 ... 131 11 0 ,37 ... 770 15 3 85 ... 117 9 3 38 ... 762 0 0 86 ... 103 18 0 39 ... 753 0 9 87 ... 92 5 9 40 ... 743 15 0 88 ... 82 8 9 41 ... 734 2 0 89 ... 74 3 6 42 ... 723 15 9 90 ... 66 14 6 43 ... 713 1 0 91 ... 61 8 0 44 ... 701 15 0 92 ... 53 13 6 45 ... 689 17 3 93 ... 46 11 6 46 ... 677 8 3 94 ... 89 14 3 4? ... 664 1 3 95 ... 32 5 6