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Legislative Assembly for the ACT: 1996 Week 11 Hansard (26 September) . . Page.. 3623 ..


Mr Speaker, this Bill provides for amendments to the Stamp Duties and Taxes Act 1987 (the Act), to facilitate the introduction of stamp duty on hiring arrangements in the ACT.

The ACT is the last jurisdiction in Australia to impose stamp duty on hiring arrangements. As a consequence, the ACT has been able to adopt a hire duty model which takes advantage of work undertaken by a multijurisdictional working party, in consultation with the industry and other professional groups.

Mr Speaker, duty will be imposed on almost all arrangements where goods, including fixtures not attached to land, are hired out by an owner for use in the ACT. This would include, for example, the hire or lease of motor vehicles, trailers, television sets and other electrical appliances, computers, construction and gardening equipment and even telephones and videos.

Hiring arrangements specifically excluded from duty include the loan of a book from the local library, the hire of a movie to a theatre or the hire of an invalid aid or prosthetic device by a partially or totally incapacitated person. Hiring by schools, hospitals and charitable organisations will also be exempt from duty.

In line with NSW, the ACT will introduce a lower rate of duty for equipment financing arrangements with terms of more than 9 months.


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