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This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
Duties Amendment Bill 2008
Queensland
Duties Amendment Bill 2008
Contents
Page
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3 Amendment of s 349 (Imposition of insurance duty) . . . . . . . . . . 4
4 Amendment of s 353 (What is a premium). . . . . . . . . . . . . . . . . . 4
5 Amendment of s 357 (Who is liable to pay insurance duty) . . . . . 4
6 Omission of s 360 (When insurance duty is payable--life
insurance) ....................................... 4
7 Omission of s 363 (Rate of insurance duty--life insurance). . . . . 5
8 Amendment of s 364 (Application of div 1). . . . . . . . . . . . . . . . . . 5
9 Amendment of s 370 (Lodging returns and payment of
insurance duty) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
10 Amendment of s 371 (Application of pt 6) . . . . . . . . . . . . . . . . . . 5
11 Insertion of new s 375A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
375A Exemption--life insurance rider . . . . . . . . . . . . . . . . . 6
12 Amendment of sch 6 (Dictionary) . . . . . . . . . . . . . . . . . . . . . . . . . 6
2008
A Bill
for
An Act to amend the Duties Act 2001
Duties Amendment Bill 2008
[s 1]
The Parliament of Queensland enacts-- 1
Clause 1 Short title 2
This Act may be cited as the Duties Amendment Act 2008. 3
Clause 2 Act amended 4
This Act amends the Duties Act 2001. 5
Clause 3 Amendment of s 349 (Imposition of insurance duty) 6
Section 349(1)(b) and (2)(b)-- 7
omit. 8
Clause 4 Amendment of s 353 (What is a premium) 9
(1) Section 353(1), `or life insurance'-- 10
omit. 11
(2) Section 353(1), `or life insurer'-- 12
omit. 13
Clause 5 Amendment of s 357 (Who is liable to pay insurance duty) 14
Section 357(2)-- 15
omit. 16
Clause 6 Omission of s 360 (When insurance duty is payable--life 17
insurance) 18
Section 360-- 19
omit. 20
Page 4
Duties Amendment Bill 2008
[s 7]
Clause 7 Omission of s 363 (Rate of insurance duty--life 1
insurance) 2
Section 363-- 3
omit. 4
Clause 8 Amendment of s 364 (Application of div 1) 5
Section 364(2)-- 6
omit. 7
Clause 9 Amendment of s 370 (Lodging returns and payment of 8
insurance duty) 9
(1) Section 370(2)-- 10
omit. 11
(2) Section 370(3), `or life insurer'-- 12
omit. 13
(3) Section 370(3), `or life insurance'-- 14
omit. 15
(4) Section 370(3), `or (2)'-- 16
omit. 17
Clause 10 Amendment of s 371 (Application of pt 6) 18
(1) Section 371, `or registered life insurer'-- 19
omit. 20
(2) Section 371, `or life insurance'-- 21
omit. 22
Clause 11 Insertion of new s 375A 23
After section 375-- 24
insert-- 25
Page 5
Duties Amendment Bill 2008
[s 12]
`375A Exemption--life insurance rider 1
`(1) Insurance duty is not imposed on a contract of insurance to the 2
extent it is for a life insurance rider. 3
`(2) In this section-- 4
life insurance rider means insurance that-- 5
(a) is attached to a policy of life insurance for which the 6
premium or the part of the premium attributable to the 7
attached insurance is stated separately on the policy; and 8
(b) provides for an additional capital payment in the event 9
of the disablement, or the death by accident, of the 10
insured.'. 11
Clause 12 Amendment of sch 6 (Dictionary) 12
(1) Schedule 6, definition life insurance rider-- 13
omit. 14
(2) Schedule 6, definition class 2 general insurance, paragraph 15
(e)-- 16
omit. 17
Page 6
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