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Wednesday, 4 December 1985
Page: 2959


Senator REID(9.46) —I still ask the Government to adhere to the undertaking the Minister gave because it is a matter of concern. The principle behind the original Australian Capital Territory Stamp Duty Act and this Bill is that the Government is bringing the Australian Capital Territory into line with other States and, although it did not name New South Wales, the legislation clearly is based on the New South Wales legislation. It is on that basis that this set of amendments is drawn. The Bill seeks to bring us more into line with New South Wales, but it goes further than that in that we will be paying duty while not getting any of the concessions. I mentioned two other matters this morning in relation to which I have not brought forward amendments. A person who surrenders a lease for any reason, perhaps for a change of purposes clause or for a consolidation of several leases, may have to discharge the mortgage to allow a new lease to be issued and then get a new mortgage, which in fact involves the same amount but a different document. In New South Wales one can do this by having the change noted, without being charged twice. I believe that it would be possible to effect this change by an amendment to the Real Property Ordinance. I ask the Minister to undertake also to have that concession which operates in New South Wales brought into effect here. I have not brought forward any amendment in relation to that; I would just like the Minister to undertake that that would also be examined.