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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia Stamp Amendment (Budget) Bill 2002 CONTENTS Part 1 -- Preliminary 1. Short title 2 2. Commencement 2 3. The Act amended 3 Part 2 -- Transfer of property rate change 4. Second Schedule item 4 amended 4 5. Transitional 4 Part 3 -- Vehicle licence rate change 6. Section 76B amended 5 7. Second Schedule item 14 amended 5 8. Third Schedule amended 6 9. Transitional 7 Part 4 -- Policy of insurance rate change 10. Section 96 amended 8 11. Second Schedule item 16 amended 8 page i 116--1 Western Australia LEGISLATIVE ASSEMBLY Stamp Amendment (Budget) Bill 2002 A Bill for An Act to amend the Stamp Act 1921. The Parliament of Western Australia enacts as follows: page 1 Stamp Amendment (Budget) Bill 2002 Part 1 Preliminary s. 1 Part 1 -- Preliminary 1. Short title This Act may be cited as the Stamp Amendment (Budget) Act 2002. 5 2. Commencement (1) Subject to this section, this Act comes into operation on the day on which it receives the Royal Assent. (2) Part 2 comes into operation, or is deemed to have come into operation, on 1 July 2002. 10 (3) Part 3 comes into operation -- (a) on 1 July 2002; or (b) on the day on which this Act receives the Royal Assent, if that is after 1 July 2002. (4) Part 4 comes into operation, or is deemed to have come into 15 operation -- (a) on 1 July 2002 in relation to policies of insurance issued under the Motor Vehicle (Third Party Insurance) Act 1943 that are effected or renewed on or after 1 July 2002; and 20 (b) on 16 May 2002 in relation to policies of insurance issued under the Motor Vehicle (Third Party Insurance) Act 1943 that -- (i) were effected or renewed on or after 16 May 2002 but before 1 July 2002; and 25 (ii) are valid for a period commencing on or after 1 July 2002. page 2 Stamp Amendment (Budget) Bill 2002 Preliminary Part 1 s. 3 3. The Act amended The amendments in this Act are to the Stamp Act 1921*. [* Reprinted as at 3 Aug 2001. For subsequent amendments see 2001 Index to Legislation of 5 Western Australia, Table 1, p. 354.] page 3 Stamp Amendment (Budget) Bill 2002 Part 2 Transfer of property rate change s. 4 Part 2 -- Transfer of property rate change 4. Second Schedule item 4 amended (1) The amendments in this section are to the Second Schedule. (2) Item 4(1)(a) is amended by deleting "$1.95" and inserting 5 instead -- " $2.00 ". (3) Item 4(1)(b) is amended by deleting "$1 560 and $2.85" and inserting instead -- " $1 600 and $3.00 ". 10 (4) Item 4(1)(c) is amended by deleting "$2 130 and $3.70" and inserting instead -- " $2 200 and $4.15 ". (5) Item 4(1)(d) is amended by deleting "$7 680 and $4.55" and inserting instead -- 15 " $8 425 and $5.15 ". (6) Item 4(1)(e) is amended by deleting "$19 055 and $4.85" and inserting instead -- " $21 300 and $5.50 ". 5. Transitional 20 Despite the amendments effected by this Part, the Stamp Act 1921 as in force immediately before 1 July 2002 continues to apply to and in relation to instruments of a kind referred to in the Second Schedule item 4(1) to that Act that were executed before 1 July 2002. page 4 Stamp Amendment (Budget) Bill 2002 Vehicle licence rate change Part 3 s. 6 Part 3 -- Vehicle licence rate change 6. Section 76B amended Section 76B is amended by inserting the following definitions in their appropriate alphabetical positions -- 5 " "Commonwealth Act" means the Interstate Road Transport Act 1985 of the Commonwealth; "corresponding State law" means a law of any other State or a Territory corresponding to the Road 10 Traffic Act 1974; "heavy vehicle" means a motor vehicle with a gross vehicle mass of more than 4.5 tonnes; ". 7. Second Schedule item 14 amended 15 The Second Schedule item 14 is deleted and the following item is inserted instead -- " 14. MOTOR VEHICLE LICENCE, ISSUE OR TRANSFER (1) On the issue or transfer of a The person in licence for a motor vehicle that whose name the is not a heavy vehicle -- licence is issued (a) where the market value of or the transferee; the vehicle does not exceed and see $15 000....................................... 2.75% of the market section 76C(13) value (b) where the market value of the vehicle exceeds $15 000 but does not exceed   MV − 15 000  $40 000....................................... 2.75 +   %   ï£- 6 666.66  (rounded to 2 decimal places) of the market value (MV) (c) where the market value of the vehicle exceeds $40 000......... 6.5% of the market value page 5 Stamp Amendment (Budget) Bill 2002 Part 3 Vehicle licence rate change s. 8 (2) On the issue of a licence for a heavy vehicle that has not previously been used nor registered under the Road Traffic Act 1974 or a corresponding State law ..................... The lesser of -- (a) 3% of the market value; and (b) $12 000 (3) On the issue or transfer of a licence for any other heavy vehicle -- (a) where the market value of the vehicle does not exceed $15 000....................................... 2.5% of the market value (b) where the market value of the vehicle exceeds $15 000 but does not exceed   MV − 15 000  $40 000....................................... 2.5 +   %   ï£- 10 000  (rounded to 2 decimal places) of the market value (MV) (c) where the market value of the vehicle exceeds $40 000......... The lesser of -- (a) 5% of the market value; and (b) $20 000 The duty payable under item 14 is to be rounded down to the nearest 5 cents ". 8. Third Schedule amended The Third Schedule is amended as follows: (a) by deleting item 9(1); 5 (b) in item 9(2), (3), (4) and (5) by deleting "RTA" in each place where it occurs and inserting instead -- " Road Traffic Act 1974 ". page 6 Stamp Amendment (Budget) Bill 2002 Vehicle licence rate change Part 3 s. 9 9. Transitional (1) Despite the amendments effected by this Part, the Stamp Act 1921 as in force immediately before the commencement day continues to apply to and in relation to the issue or transfer of a 5 motor vehicle licence the application for which was made before the commencement day. (2) Despite subsection (1), if -- (a) the commencement day is after 1 July 2002; (b) an application for the issue or transfer of a motor vehicle 10 licence is made to a licensing authority on or after 1 July 2002; and (c) stamp duty in respect of the issue or transfer of the licence is not paid before the commencement day, then the Stamp Act 1921 as amended by this Part applies to and 15 in relation to the issue or transfer of the licence. (3) If, under section 76C(9), (10) or (10C) of the Stamp Act 1921, the amount of duty payable in respect of the issue or transfer of a licence is assessed before the commencement day, then the Stamp Act 1921 as in force immediately before that day 20 continues to apply to and in relation to the issue or transfer of the licence and the assessment. (4) In this Part -- "commencement day" means day on which this Part comes into operation. page 7 Stamp Amendment (Budget) Bill 2002 Part 4 Policy of insurance rate change s. 10 Part 4 -- Policy of insurance rate change 10. Section 96 amended Section 96(1) and (2) are amended by deleting "item 16(1)(a), (1)(c)" and inserting instead -- 5 " item 16(1) ". 11. Second Schedule item 16 amended The Second Schedule item 16(1)(b) is amended by deleting "0.25" and inserting instead -- " 8% of the amount calculated under section 96(2) 10 ".
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