Page 3775 - Week 12 - Thursday, 21 October 1993
Next page . . . . Previous page . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .
Question put:
That the amendments (Mr Kaine's) be agreed to.
The Assembly voted -
AYES, 7 NOES, 10
Mrs Carnell Mr Berry
Mr Cornwell Mr Connolly
Mr De Domenico Ms Ellis
Mr Humphries Ms Follett
Mr Kaine Mrs Grassby
Mr Stevenson Mr Lamont
Mr Westende Ms McRae
Mr Moore
Ms Szuty
Mr Wood
Question so resolved in the negative.
MR KAINE (5.38): Madam Speaker, I have another amendment.
MADAM SPEAKER: You will need leave for this, Mr Kaine.
MR KAINE: It is my amendment No. 3. I seek leave.
Leave granted.
MR KAINE: I move:
Clause 6, page 2, lines 33 and 34, proposed new paragraph 28(3B)(a), omit the paragraph.
Madam Speaker, this amendment has to do with whether or not stamp duty should be payable on transactions that are not completed. Mrs Carnell pointed out the difficulties that this present Bill imposes on developers and the problems that it will present in achieving the Government's urban infill program. Mr Wood, I hope, listened to that. My argument is a different one. It is the argument that has been presented to the Chief Minister by the Law Society, and that is that stamp duty is a duty payable on completed transactions.
Ms Follett: No, they are wrong.
MR KAINE: I would have thought that the Law Society would be very clear on this, Madam Speaker, and that the Chief Minister, perhaps, might be wrong. The Law Society talks about conditional contracts. Almost all contracts are conditional contracts. If at any time before the final settlement date any one of the conditions that are set on the contract occurs, then the transaction does not go ahead.
Under this law that the Chief Minister attempts to put into place she will oblige the purchaser to pay the stamp duty and presumably, since there is no provision for refunds, if the transaction is not completed for any valid reason in terms of the contract, the purchaser has paid a very substantial sum which they
Next page . . . . Previous page . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .