Page 390 - Week 03 - Thursday, 1 June 1989
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Commonwealth of Australia Gazette
AUSTRALIAN CAPITAL TERRITORY
TAXATION (ADMINISTRATION) ORDINANCE 1987
AMENDMENT OF DETERMINATION
NO. OF 1989
Under section 99 of the Taxation (Administration) Ordinance 1987 I AMEND the Stamp Duties (Marketable Securities) Determination 1987 notice of which was published in the Gazette on 31 July 1987 (Gazette No 5193) by inserting after paragraph 5 the following:
Transfer of unlisted Marketable Secutities
6. Notwithstanding paragraphs 4 and 5 the determined amount
of stamp duty for the purposes of section 44 or 50 of the
Ordinance is, in respect of the transfer of a marketable
security that is not listed for quotation in the official list
of an Australian stock exchange or a prescribed stock
exchange, the sum of:
- a) the determined amount of stamp duty that would have
been payable for the purposes of section 17 of the
Ordinance with respect to the transfer of any
interest in land in the Territory held by the company
or unit trust which issued the marketable security on
the assumption that that interest had been transferred
on the date on which the marketable security was
b) 15 cents or each S25 or part of 525 of the
unencumbered value of the marketable security.
For the purposes of paragraph (a) it shall be assumed that the value ct- the interest : the land bears the same proportion to the value of the companys or trusts interest as the marketable security bears to the total number of marketable securities issued in- the company or unit trust.
For the purposes of paragraph (b) the unencumbered value of the marketable security shall be calculated disregarding the value of the companys or unit trusts interest in any land
ALLAN CLYDE HOLDING
MINISTER OF STATE FOR
THE ARTS AND TERRITORIES
390
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