Australian Capital Territory
Taxation Administration (Amounts Payable–Duty) Determination 2008 (No 1)
Disallowable instrument DI2008–220
made under the
Taxation Administration Act 1999, s 139 (Determination of amounts payable under tax laws)
Part 1	Preliminary
1	Name of instrument
This instrument is the Taxation Administration (Amounts Payable–Duty) Determination 2008 (No 1).
2	Commencement
This instrument commences on 3 September 2008.
Part 2	Determination of amounts payable—Duties Act, s 31
3	Definition
In this part:
dutiable amount, for a dutiable transaction, means the dutiable value of the dutiable property subject to the transaction.
4	Amounts payable 
For the purposes of section 31 of the Duties Act 1999, the duty chargeable or payable on the dutiable amount listed in column 1 of Table 1 is the rate of duty listed in column 2 opposite that amount.
Table 1	Amounts payable—Duties Act, s 31
Column 1
Dutiable amount	Column 2
Rate of duty 	
$100 000 or less	$2 for every $100, or part of $100, of the dutiable amount, or $20, whichever is the greater	
More than $100 000 but not more than $200 000	$2 000 plus $3.50 for every $100, or part of $100, of the dutiable amount that is more than $100 000	
More than $200 000 but not more than $300 000	$5 500 plus $4 for every $100, or part of $100, of the dutiable amount that is more than $200 000	
More than $300 000 but not more than $500 000	$9 500 plus $5.50 for every $100, or part of $100, of the dutiable amount that is more than $300 000	
More than $500 000 but not more than  $1 000 000	$20 500 plus $5.75 for every $100, or part of $100, of the dutiable amount that is more than $500 000	
More than $1 000 000	$49 250 plus $6.75 for every $100, or part of $100, of the dutiable amount that is more than $1 000 000	
Part 3	Determination of amounts payable—Duties Act, other sections
5	Definition
In this part:
relevant amount means—
(a)	for a marketable security to which the Duties Act 1999, section 32 (Shares, units and interests—marketable securities) applies—the dutiable value of the marketable security, or
(b)	for property to which the Duties Act 1999, section 33 (1) (a) or (b) (Certain business assets) applies that is the subject of a dutiable transaction—the dutiable value of the property, or
(c)	for a lease to which the Duties Act 1999, section 140 (General rate—short-term leases) applies—the cost or value of the lease; or
(d)	for a contract of general insurance to which the Duties Act 1999, section 178 (Rate of duty) applies—the premium paid in relation to the contract; or
(e)	for a policy of life insurance to which the Duties Act 1999, section 185 (1) (Rates of duty) applies—the sum insured; or
(f)	for a policy of temporary or term insurance to which the Duties Act 1999, section 185 (2) applies—the first year’s premium for the policy; or
(g)	for a life insurance rider to which the Duties Act 1999, section 185 (3) applies—the first year’s premium for the rider; or
(h)	for disability income insurance to which the Duties Act 1999, section 185 (4) applies—the premium paid to effect the insurance.
6	Amounts payable
For the purposes of each provision of the Duties Act 1999 listed in column 1 of Table 2, the rate of duty chargeable or payable on the relevant amount in relation to each provision is the rate of duty listed in column 2 opposite that provision.
Table 2	Amounts payable—Duties Act, various sections
Column 1
Duties Act provision 	Column 2
Rate of duty 	
s 32 (1)	60 cents for every $100, or part of $100, of the relevant amount, paragraph (a) (marketable security)	
s 33 (1)	60 cents for every $100, or part of $100, of the relevant amount, paragraph (b) (property) 	
s 140	50 cents for every $100, or part of $100, of the relevant amount, paragraph (c) (short-term lease)	
s 178	10% of the relevant amount, paragraph (d) (general insurance)	
s 185 (1)	•	$1 on the first $2 000, or part of $2 000, of the relevant amount, paragraph (e) (life insurance) and 
•	20 cents for every $200, or part of $200, of the relevant amount, paragraph (e) (life insurance) that is more than 
$2 000	
s 185 (2)	5% of the relevant amount, paragraph (f) (temporary or term insurance)	
s 185 (3)	5% of the relevant amount, paragraph (g) (life insurance rider)	
s 185 (4)	10% of the relevant amount, paragraph (h) (disability income insurance)	
7	Revocation
DI2007-167 is revoked.

Jon Stanhope MLA
Treasurer

25 August 2008