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Tuesday, 26 September 1972
Page: 1184

Senator COTTON (New South WalesMinister for Civil Aviation) - I move:

That the Bill be now read a second time.

This Bill is the third of the stamp duty measures necessary to bring the rate of Australian Capital Territory stamp duty on transactions in marketable securities into line with the rates in force in the States. Under A.C.T. legislation, duty on transfers in unlisted shares, and on other transfers outside the 'broker return' system, is payable by the person to whom the securities are transferred. The present rate of duty is 5c for each $12.50 or part thereof of the value of the securities transferred. This Bill proposes to increase the rate of 15c for each $25 or fractional part of $25 of the value of the securities. I commend the Bill to the Senate.

Debate (on motion by Senator Wilkinson) adjourned.

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