Stamp and Cheque Duties Act 1971

If you need more information about this Act, please contact the administering agency: Inland Revenue Department

Reprint as at 1 April 2017

Coat of Arms of New Zealand

Stamp and Cheque Duties Act 1971

Public Act
 
1971 No 51
Date of assent
 
19 November 1971
Commencement
 
see section 1(2)
Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This Act is administered by the Inland Revenue Department.

Contents

Title
1Short Title, commencement, etc
Part 1
Interpretation
2Interpretation [Repealed]
3Meaning of the term instrument [Repealed]
4Instruments written together, or relating to more than 1 transaction [Repealed]
5Meaning of the term executed [Repealed]
6Meaning of the term deed [Repealed]
7Meaning of the expression instrument of conveyance extended [Repealed]
8Meaning of the term lease [Repealed]
9Licence under Sale of Liquor Act 1989 deemed to be interest in land [Repealed]
Part 2
Liability for stamp duty
[Repealed]
10Stamp duty payable [Repealed]
11No stamp duty payable on certain instruments [Repealed]
12No stamp duty payable on instruments conveying certain property [Repealed]
13No stamp duty payable on instruments of conveyance to certain persons [Repealed]
14No stamp duty payable on leases to certain persons [Repealed]
Conveyance duty
15Conveyance duty [Repealed]
16Conveyance by direction of intermediary [Repealed]
17No conveyance duty payable on certain instruments of conveyance [Repealed]
18No conveyance duty payable on certain surrenders of leases and conveyances to charities [Repealed]
19No conveyance duty on instrument of conveyance executed pursuant to stamped agreement [Repealed]
20No conveyance duty payable on more than 1 agreement in respect of the same transaction [Repealed]
21No conveyance duty on agreement to convey if the instrument of conveyance executed pursuant to it is duly stamped [Repealed]
22No conveyance duty payable on certain declarations of trust [Repealed]
22ANo conveyance duty payable on instrument of conveyance executed in respect of first home [Repealed]
22BNo conveyance duty payable on instrument of conveyance executed in respect of first farm [Repealed]
22CNo conveyance duty payable in respect of transactions relating to certain family homes [Repealed]
23Conveyance duty reduced if gift duty paid on conveyance [Repealed]
24No conveyance duty payable in respect of conveyance of residential land [Repealed]
24AConveyance duty reduced on instrument of conveyance of dwellinghouse [Repealed]
25Agreement to convey on behalf of company to be incorporated [Repealed]
Lease duty
26Lease duty [Repealed]
27Duty on lease including chattels, timber, minerals, or other property [Repealed]
28Lease duty to be computed on goodwill [Repealed]
29Duty on instruments increasing rent or other consideration under lease [Repealed]
30No lease duty payable on lease executed pursuant to stamped agreement [Repealed]
31No lease duty payable on more than 1 agreement to lease in respect of the same transaction [Repealed]
32No lease duty payable on agreement to lease if the lease executed pursuant to it is duly stamped [Repealed]
33Duty on leases providing for re-determination of rent [Repealed]
34Lease duty reduced if gift duty payable on lease [Repealed]
35No lease duty payable in respect of lease of residential land [Repealed]
Deed duty
36Deed duty [Repealed]
37No deed duty payable on certain instruments [Repealed]
Denoting duty
38Denoting duty [Repealed]
39No denoting duty payable on certain instruments [Repealed]
Part 3
Valuation
[Repealed]
40Value of property as at date instrument executed [Repealed]
41Valuation not to be less than value expressed in instrument [Repealed]
42Valuation of land [Repealed]
43Objections to special valuations of land [Repealed]
44Valuing shares [Repealed]
45Valuing property subject to a mortgage [Repealed]
46Apportionment of value [Repealed]
47Valuation of consideration [Repealed]
48Valuation by Commissioner [Repealed]
Part 4
Assessment and collection of stamp duty
[Repealed]
49Presentation for stamping [Repealed]
50Time for presentation [Repealed]
51Stamping otherwise than by presentation [Repealed]
51AComposition by New Zealand Stock Exchange in respect of stamp duty on shares [Repealed]
52Right of Commissioner to hold and impound instruments [Repealed]
53Requirement that instrument be presented for stamping [Repealed]
54Determination of liability for stamp duty [Repealed]
55Notice of assessment [Repealed]
56Assessment conclusive [Repealed]
57Penalty for late presentation [Repealed]
58Due date for payment of stamp duty [Repealed]
59Penalty proportionately reduced on reduction of duty [Repealed]
60Remission of penalties [Repealed]
61Determination that instrument not liable denoted by impressed stamp [Repealed]
62Payment of stamp duty denoted by impressed stamp [Repealed]
63Payment of penalty denoted by impressed stamp [Repealed]
64Use of prescribed stamp on certain instruments [Repealed]
65Stamp duty constitutes a debt to the Crown [Repealed]
66Persons liable for stamp duty [Repealed]
67Refund of duty on revaluation of consideration in accordance with the outcome of a contingency [Repealed]
68Refund of duty or penalty on application [Repealed]
69Unstamped instruments inadmissible in evidence [Repealed]
70Unstamped instruments ineligible for registration [Repealed]
71Refunds payable out of Crown Bank Account [Repealed]
71AApplication of Parts 4A and 8A of Tax Administration Act 1994 [Repealed]
Part 5
Objections to assessments
[Repealed]
72Objections to assessments [Repealed]
73Commissioner may alter assessment, or objection may be submitted to Taxation Review Authority [Repealed]
74When objection may be referred in first instance to High Court [Repealed]
74ATest case procedure [Repealed]
75Removal of case into Court of Appeal [Repealed]
Part 6
Cheque duty
76Interpretation [Repealed]
77Cheque duty payable [Repealed]
78Rates of cheque duty [Repealed]
79No cheque duty payable on certain bills [Repealed]
80Exemption from cheque duty by agreement [Repealed]
81Cheque duty payable by licensed banks [Repealed]
82Cheque duty payable by licensed printers [Repealed]
83Cheque duty payable by other licensees [Repealed]
84Cheque duty payable otherwise than under a licence [Repealed]
85Refund of cheque duty [Repealed]
86Refunds payable out of Crown Bank Account [Repealed]
Part 6A
Credit card transaction duty
[Repealed]
86AInterpretation [Repealed]
86BCredit card transaction duty payable [Repealed]
86CRate of credit card transaction duty [Repealed]
86DPayment of credit card transaction duty [Repealed]
86EInterest on unpaid credit card transaction duty [Repealed]
Part 6B
Approved issuer levy
86FInterpretation
86GApplication to register securities
86GBTreatment of approved issuer levy when prepayments or transfer pricing adjustment made
86HRegistration of securities by Commissioner
86IApplication of approved issuer levy and zero-rating
86IBZero rate of approved issuer levy—requirements for securities
86ICWhen payment of approved issuer levy compulsory
86JApproved issuer levy
86KPayment of approved issuer levy
86KAPayment of approved issuer levy in instalments
86LRefund of levy paid in error or in excess
86MRelief in cases of serious hardship [Repealed]
86NOffence to give false information [Repealed]
Part 7
Miscellaneous offences
[Repealed]
87Time for laying informations [Repealed]
88Offence to defraud Crown of duty or penalty payable under this Act [Repealed]
89Offence to give false information [Repealed]
90Offence to issue certain shares unless pursuant to duly stamped instrument of nomination [Repealed]
91Offence to execute instrument of conveyance of shares unless transferee’s name entered in instrument [Repealed]
92Offence for sharebroker not to send particulars of shares sold without instrument of transfer [Repealed]
92AOffence to stamp instrument otherwise than by presentation except in certain cases [Repealed]
93Principal officers of companies committing offences [Repealed]
94Printing unauthorised inscriptions on bills of exchange [Repealed]
Part 8
Miscellaneous provisions
95Evidence inconsistent with instrument not admissible to reduce stamp duty [Repealed]
96Sharebroker may recover duty from purchaser of shares [Repealed]
97Giving notices [Repealed]
98Duty recoverable by Commissioner in official name [Repealed]
99Duty paid under repealed Act [Repealed]
99AApplication of Part 9 of Tax Administration Act 1994
100Consequential amendments
101Repeals and revocations
Schedule 1
Exempting enactments
Schedule 2
Enactments amended
Schedule 3
Enactments repealed
Reprint notes

An Act to consolidate and amend the law relating to stamp duties