STAMP DUTIES ACT 1923 - SECT 42BA

STAMP DUTIES ACT 1923 - SECT 42BA

42BA—Concessional rate of duty on some applications to transfer registration

        (1)         The amount of duty payable on an application to transfer the registration of a motor vehicle where a person who is a registered owner of the motor vehicle immediately before the registration is transferred will continue to be a registered owner of the motor vehicle immediately after the registration is transferred is calculated as follows:

where—

"D" is the amount of duty payable

"A" is the amount of duty that would be payable apart from this section

"B" is the number of persons that the application seeks to add to, or remove from, the register as owners of the motor vehicle, whichever is the greater

"C" is—

            (a)         the number of persons who are registered owners of the motor vehicle immediately before the registration is transferred; or

            (b)         the number of persons who will be registered owners of the motor vehicle immediately after the registration is transferred,

whichever is the greater.

        (2)         This section does not derogate from any other provision conferring an exemption under this Act.

        (3)         This section applies to applications executed after its commencement.