Australian Capital Territory
Taxation Administration (Amounts Payable–Duty) Determination 2015 (No 2)
Disallowable instrument DI2015-161
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 2015 (No 2).
2	Commencement
This instrument commences on 1 July 2015.

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 	$1.80 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	$3 600 plus $3.00 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	$6 600 plus $4.00 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 	$14 600 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	$27 100 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	$43 350 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 $5.17 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 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
 (b)	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
(c)	for a policy of life insurance to which the Duties Act 1999, section 185 (1) (Rates of duty) applies—the sum insured; or
(d)	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
(e)	for a life insurance rider to which the Duties Act 1999, section 185 (3) applies—the first year’s premium for the rider; or
(f)	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 33 (1)	60 cents for every $100, or part of $100, of the relevant amount, paragraph (b) (property) 	
s 178	2% of the relevant amount, paragraph (d) (general insurance)	
s 185 (1)	•	20 cents on the first $2 000, or part of $2 000, of the relevant amount, paragraph (e) (life insurance) and 
•	4 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)	1% of the relevant amount, paragraph (f) (temporary or term insurance)	
s 185 (3)	1% of the relevant amount, paragraph (g) (life insurance rider)	
s 185 (4)	2% of the relevant amount, paragraph (h) (disability income insurance)	
7	Revocation
DI2015-106 is revoked.
8	Transitional Provisions
DI2015-106 continues to apply to relevant dutiable transactions between 3 June 2015 and 30 June 2015 inclusive.  

Andrew Barr MLA
Treasurer
15 June 2015