Australian Capital Territory
Taxation Administration (Amounts Payable–Duty) Determination 2014 (No 1)
Disallowable instrument DI2014-83
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 2014 (No 1).
2	Commencement
This instrument commences on 4 June 2014.
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 	
Less than or equal to $200 000 	$2.00 for every $100, or part of $100, of the dutiable amount, or $20, whichever is the greater	
More than $200 000 but not more than $300 000	$4 000 plus $3.50 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	$7 500 plus $4.15 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  $750 000 	$15 800 plus $5.00 for every $100, or part of $100, of the dutiable amount that is more than $500 000	
More than $750 000 but not more than $1 000 000	$28 300 plus $6.50 for every $100, or part of $100, of the dutiable amount that is more than $750 000	
More than $1 000 000 but not more than $1 454 999	$44 550 plus $7.00 for every $100, or part of $100, of the dutiable amount that is more than $1 000 000	
$1 455 000 and over	A flat rate of $5.25 per $100 applied to the total transaction value	

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, Part 15.3 (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, Part 15.2 (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 	
Part 15.3	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) 	
Part 15.2	50 cents for every $100, or part of $100, of the relevant amount, paragraph (c) (short-term lease)	
s 178	6% of the relevant amount, paragraph (d) (general insurance)	
s 185 (1)	•	60 cents on the first $2 000, or part of $2 000, of the relevant amount, paragraph (e) (life insurance) and 
•	12 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)	3% of the relevant amount, paragraph (f) (temporary or term insurance)	
s 185 (3)	3% of the relevant amount, paragraph (g) (life insurance rider)	
s 185 (4)	6% of the relevant amount, paragraph (h) (disability income insurance)	
7	Revocation
DI2013-174 is revoked.
8	Transitional Provisions
DI2013-174 continues to apply to relevant dutiable transactions between 1 July 2013 and 3 June 2014 inclusive.  

Andrew Barr MLA
Treasurer
30 May 2014