Stamp Act Amendment Act.

Manawatu Standard, Volume X, Issue 1476, 9 October 1885, Page 4

Stamp Act Amendment Act.

The following are the principal* provisions of the stamp Act; Arnendnip.nt Act; which came into force on the i ßth ultimo: — . . ".,; . ; . f The-duty on conveyances' on sale is raised to 15 per cent, on the consideration, while deeds of gift are* made' liable to a dnty of 15 per cent, oh the property tax value. - ■ \\? .-' •; :-r^fr)fX $:«2k' The 10 per cent, duty on the alienation of native . lands .is cha/gpablefyon thfi valae instead of 'on the consideration, while a deed of giftfrbra"tf"tiativ p c; I tOj,,a ;i person other than a native,' is alebrViade linble to native land duty. ■' i •' * The agent of a foreign ; insurance I company, carrying on business, [fo /New. Zealand, no longer escapes from, the, payment of ttio annnaj license fee., of £200 paid by colonial companies..; \ '., An annual license fee df'£2oo' is imposed on foreign companies carrying bn| ! Vntsiness m New Zealand, and having' a' capital of lesi than £400,000. . ) A penalty of £200 is imposed for not stating all necessary particulars m policies of sea insurance. Where land is sold, together with the livestock or stock m trade thereon'^ valorem dnty is paid ou the whole -con-' sid(?rntion for the sale, even though^ only the land b* included m the instrument conveying the property. . . ',' There are other minor alteratiohi'-7-i forinstancQ, section 3 of the A6t prbi' vides m effect that, where there are two instruments for effectuating a sale of property and ad valorem duty is paid on ene, a duty of 108 is to be charged on the other. / ••' '"'^2 Section 4 raises the penalty^ for nnt atampin'T ppdain deeds within a month to 25 per cent. Section 6prdvides that where several persons join m an- affidavit or declaration a doty of 2s, §d* is j payable for each person so joining. Any person who, with intent it to' .defraud, executes or prepares an instrument without setting forth the ( rei p "611 the facts necessary for the assessment of duty, is liable to a heavy penalty. > ,